Fix & Flip Loans
Fix & Flip loan programs to suit every borrower
Are you renovating a property and need short-term financing to cover the purchase and/or rehab? Strategic Funding offers hard money Fix & Flip rehab loans that make funding your deals straightforward and easy.
We offer two different Fix & Flip loan programs in Central Virginia and surrounding areas, plus transactional funding, giving borrowers the opportunity to decide which approach is best suited to their own unique circumstances and goals. Which is right for you?
Program Benefits
No Monthly Payments
No monthly payments are typically required on vacant properties that are being rehabbed.
No Downpayment
Since our rehab loans are based primarily on the property value vs. purchase price, you may not be required to make a down payment.
No Income/Employment Verification
As a hard-money lender, our primary concern is the equity in the property you are flipping and your ability to execute. There's no minimum credit score required for our borrowers for this loan.
No Outside Appraisal
This allows us to make a decision within 24 hours and close as soon as the next business day.
Lending Limit
For a first time borrower, the first loan amount cannot exceed $175k (depending on location) and the repair costs cannot exceed more than 25% of the purchase price. After we get through the first loan, the borrower can have up to 3 loans at a time with no minimum purchase price or repair costs.
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- Loan Features
- Fee Schedule
Interest Rate | 13.5% |
Loan Length | 6 months Extensions may be available. Please contact us to discuss further. |
Minimum Loan Amount | None |
Monthly Payment | None On typical 6 month loans. |
Prepayment Penalty | None |
Lien Position | First position only |
Loan-to-Value | Up to 65% of After Repair Value |
Origination Fee | 4 points (4% of total loan amount) Minimum of $2,995. |
Commitment Fee | $500-1000 Due upon offer acceptance. This is not an additional fee and will be credited at closing if loan is executed. |
Appraisal | $225 Withheld from loan proceeds at purchase. |
Doc Preparation | $225 Withheld from loan proceeds at purchase. |
Draw Inspection | $150 Per draw inspection, withheld from each draw release. |
Fee schedule is for guidance only. Final loan fees will be determined prior to closing and discussed with you.