Spartan Commercial Mortgage specializes in Flip Mortgages for real estate investors. All loans include financing for purchase as well as 100% of the construction funds to renovate the property. That is correct, 100% of the rehab is covered!

About Our Program

• 1-4 unit properties
• Non-owner occupied
• 12-18 month terms
• Loans range from $75,000-$5 million
• Loan-to-value to 80% to 95-% of purchase the purchase price
• 100% of the rehabilitation funds provided
• 70% maximum after repair value
• No prepayment penalty
• No Fee for the application

Tell Me More About Flip Mortgages?

When working with a fix and flip hard money provider, investors usually need to provide more capital up front to devote to the project. Typically, a hard money fix and flip loan will finance between 80% to 90% of the overall project cost, which means the investor will have to cover the remaining 10%-20% up front. Interest rates can vary but are usually around 8% to 10% with origination points running between 0% to 3%.

The terms of hard money loans are relatively short and are specifically tailored for fix and flip projects with clearly defined timelines. When compared to 203K loans, hard money lenders are considerably more flexible regarding the loan approval metrics and underwriting policies as well as having the ability to close the lending process in a fraction of the time it takes conventional banks to.

At Spartan Commercial Mortgage we pride ourselves on helping you every step of the way to get your loan closed. We offer fast and competitive financing solutions in Connecticut, Massachusetts, Rhode Island, New York, and New Jersey. Borrowers can contact us below for the application. As well, you can click here to apply online.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

The post Flip Mortgages for Real Estate Investors appeared first on Spartan Commercial Mortgage.

Spartan Commercial Mortgage specializes in Hard Money Rehab Loans as well as Fix & Flip mortgages for the real estate investor. All loans include financing for purchase as well as 100% of the construction funds to renovate the property.

About Our Program

• 1-4 unit properties
• Non-owner occupied
• 12-month terms
• Loans range from $100,000-$5 million
• Loan-to-value to 85% to 90-% of purchase the purchase price
• 100% of the rehabilitation funds provided
• 70% maximum after repair value
• No prepayment penalty
• No Fee for the application

How do Hard Money Rehab Loans Work?

When working with a fix and flip hard money provider, investors usually need to provide more capital up front to devote to the project. Typically, a hard money fix and flip loan will finance between 80% to 90% of the overall project cost, which means the investor will have to cover the remaining 10%-20% up front. Interest rates can vary but are usually around 7% to 12% with origination points running between 0% to 3%.

The terms of hard money loans are relatively short and are specifically tailored for fix and flip projects with clearly defined timelines. When compared to 203K loans, hard money lenders are considerably more flexible regarding the loan approval metrics and underwriting policies as well as having the ability to close the lending process in a fraction of the time it takes conventional banks to.

At Spartan Commercial Mortgage we pride ourselves on helping you every step of the way to get your loan closed. We offer fast and competitive financing solutions in Connecticut, Massachusetts, Rhode Island, New York, and New Jersey. Call us today to start the process. As well, you can click here to apply online.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

Proud Sponsor of Youth Sports

The post Hard Money Rehab Loans for Real Estate Investors appeared first on Spartan Commercial Mortgage.

Spartan Commercial Mortgage provides Fix and Flip Mortgage Loans to real estate investors.  Most noteworthy of these loans are our Line of Credit fix and flip loans as well as our fix and hold loans.  These programs are ideal for investors that are looking to close on properties quickly and begin renovation. 

How it Works

The Fix and Flip/Hold Mortgage Line of Credit allows the borrower/Investor to draw out money as he or she pleases.  This is done for the purposes of buying as well as fixing and ultimately flipping the property.  Or the property investor may choose to refinance and then rent out the properties! Here is a quick overview of the program:

1. First of all, you do not have to have experience with Flipping properties.

2. Secondly, borrowers can purchase multiple properties with this line of credit.  The investor line of credit renews automatically once the property is flipped. 

3. In addition, the standard length of this program is 12 months.  And extensions are available for longer!

4. Furthermore, investor mortgage credit lines are from 50K to 5MM.

5. Finally, the funding of this program is up to 80%/85% of the purchase and 100% of the rehab.

Eligible Properties

– Single-family detached residences (SFR).
– 2-4 unit residences.
– Condominiums are also acceptable.
– Townhomes.

Call us today for a free consultation or click here to get pre-approved. We specialize in Fix and Flip Programs and are waiting or your call.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

The post Flip Mortgage Loans for Real Estate Investors appeared first on Spartan Commercial Mortgage.

We offer several investor line of credit mortgage options for our borrowers.  Most noteworthy of these options is our investor fix and flip loans as well as our fix and hold loans.  This program is ideal for investors that are looking to close on properties quickly and begin renovation. 

How it Works

The Fix and Flip/Hold Mortgage Line of Credit allows the borrower/Investor to draw out money as he or she pleases.  This is done for the purposes of buying as well as fixing and ultimately flipping the property.  Or the property investor may choose to refinance and then rent out the properties! Here is a quick overview of the program:

1. First of all, you do not have to have experience with Flipping properties.

2. Secondly, borrowers can purchase multiple properties with this line of credit.  The investor line of credit renews automatically once the property is flipped. 

3. In addition, the standard length of this program is 12 months.  And extensions are available for longer!

4. Furthermore, investor mortgage credit lines are from 50K to 5MM.

5. Finally, the funding of this program is up to 85% of the purchase and 100% of the rehab. The program allows for 70% financing of the final rehabbed property.

Eligible Properties

– Single-family detached residences (SFR).
– 2-4 unit residences.
– Condominiums are also acceptable.
– Townhomes.
– Planned Urban Developments (PUD).

Call us today for a free consultation or click here to get pre-approved. We specialize in Fix and Flip/Hold Loans and are waiting or your call.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

The post Real Estate Investor Line of Credit Program appeared first on Spartan Commercial Mortgage.

Fix and Flip Mortgages

Fix and Flip Mortgages are a great resource for Real Estate investors.  Most noteworthy among these programs are our investor fix and flip or fix and hold investor Lines of Credit.  These programs are ideal for investors that are looking to close on properties quickly and begin renovation. 

Investor Line of Credit

The Fix and Flip Mortgages are set up as a line of credit. This allows the borrower/Investor to draw out money as he or she requires.  The line can be used for buying as well as fixing the property.  Here is a quick overview of the program:

1. You do not have to have experience with flipping properties to qualify for this type of financing.

2. Secondly, borrowers can purchase multiple properties with this line of credit.  The line of credit renews after every flip.

3. In addition, the standard length of this program is 12 months.  And extensions are available for longer!

4. Furthermore, investor mortgage credit lines are from 50K to 5MM.

5. Finally, the funding of this program 80%-90% LTV of the purchase and 100% of the rehab. The program allows for 75% financing of the final rehabbed property. Essential

Eligible Properties

– Single-family detached residences (SFR).
– 2-4 unit residences.
– Condominiums as well as Town-houses.
– Planned Urban Developments (PUD) are also acceptable.

Call us today for a free consultation. The preapproval process is very easy. We specialize in Investor Rehab Loans and are waiting or your call.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

Sponsor of Connecticut Youth Sports

The post Fix and Flip Mortgages and How They Work appeared first on Spartan Commercial Mortgage.

Bridge loans are essential for a real estate investor to be successful. Spartan Commercial Mortgage offers Line of Credit fix and flip loans as well as our fix and hold loans.  As well, we have hard money solutions that allow real estate investors to close their loans quickly. We are based right in Connecticut and cover New England, New York, New Jersey, and most of the East Coast. Our line of credit loans can be used for either a Bridge Loan or a Fix and Flip.

How it Works

The Fix and Flip/Hold Mortgage Line of Credit allows the borrower/Investor to draw out money as he or she pleases.  This is done for the purposes of buying as well as fixing and ultimately flipping the property.  Or the property investor may choose to refinance and then rent out the properties! Here is a quick overview of the program:

1. First of all, you do not have to have experience with Flipping properties.

2. Secondly, borrowers can purchase multiple properties with this line of credit.  The investor line of credit renews automatically once the property is flipped. 

3. In addition, the standard length of this program is 12 months.  And extensions are available for longer up to 18 months!

4. Furthermore, investor mortgage credit lines are from 50K to 5MM.

5. Finally, the funding of this program is up to 85% LTV (1-4 units) of the purchase and 100% of the rehab costs. The program allows for 75% financing of the final rehabbed property (ARV).

Eligible Properties

– Single-family detached residences (SFR).
– 2-4 unit residences.
– Condominiums are also acceptable.
– Townhomes.

Call us today for a free consultation or click here to get pre-approved. We specialize in Short Term Loans and are waiting or your call.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

The post Bridge Loans for 1-4 Unit Investment Properties for Real Estate Investors appeared first on Spartan Commercial Mortgage.

• NO prior experience required for Fix and Flip Real Estate Investor Loans

• Financing for up 100% of renovation expenses

We look forward to working with you and assiting you on your upcoming project. Call us today for a free consultation or click here to get pre-approved.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

Proud Sponsor of Connecticut Youth Sports

The post Fix and Flip Real Estate Investor Loans in Connecticut appeared first on Spartan Commercial Mortgage.

How do Real Estate Fix and Flip Loans work?

The Fix and Flip/Hold Mortgage Line of Credit allows the borrower/Investor to draw out money as he or she pleases.  This is done for the purposes of buying as well as fixing and ultimately flipping the property.  Or the property investor may choose to refinance and then rent out the properties! Here is a quick overview of the program:

1. First of all, you do not have to have experience with Flipping properties.

2. Secondly, borrowers can purchase multiple properties with this line of credit.  The investor line of credit renews automatically once the property is flipped. 

3. In addition, the standard length of this program is 12 months.  And extensions are available for longer!

4. Furthermore, investor mortgage credit lines are from 50K to 5MM.

5. Finally, our program allows for up to 85% financing of the purchase and 100% financing of the rehab.

Eligible Properties

– Single-family detached residences (SFR).
– 2-4 unit residences.
– Condominiums are also acceptable.
– Townhomes.
– Planned Urban Developments (PUD).

Call us today for a free consultation or click here to get pre-approved. We specialize in Fix and Flip Loans and are waiting or your call.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

The post Real Estate Fix and Flip Loans appeared first on Spartan Commercial Mortgage.

We get asked often which is better – Hard Money Fix and Flip Loans or a Line of Credit to rehab the property.  The answer comes down to experience and timelines. Hard Money Fix and Flip Loans can close faster with less paper work but they will cost you much more. A Line of Credit is ideal if a borrower has experience. The more experience a borrower has – the lower the rate becomes. Spartan Commercial Mortgage offers a Line of Credit fix and flip loans as well as our fix and hold loans.  As well, we have hard money solutions

How it Works

The Fix and Flip/Hold Mortgage Line of Credit allows the borrower/Investor to draw out money as he or she pleases.  This is done for the purposes of buying as well as fixing and ultimately flipping the property.  Or the property investor may choose to refinance and then rent out the properties! Here is a quick overview of the program:

1. First of all, you do not have to have experience with Flipping properties. Borrowers are required to have some reserves,

2. Secondly, borrowers can purchase multiple properties with this line of credit.  The investor line of credit renews automatically once the property is flipped. 

3. In addition, the standard length of this program is 12 months.  And extensions are available for longer up to 18 months!

4. Furthermore, investor mortgage credit lines are from 50K to 5MM.

5. Finally, the funding of this program is up to 85% LTV (1-4 units) of the purchase and 100% of the rehab costs.

Eligible Properties

– Single-family detached residences (SFR).
– 2-4 unit residences.
– Condominiums are also acceptable.
– Townhomes.
– Planned Urban Developments (PUD).

Call us today for a free consultation or click here to get pre-approved. We specialize in Fix and Flip funding and are waiting or your call.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

The post Hard Money Fix and Flip Loans or a Line of Credit – Which is better (we do both) appeared first on Spartan Commercial Mortgage.

Spartan Commercial Mortgage is your BRRRR Method Mortgage Loan Resource for Real Estate Investors. The BRRRR Method (Buy, Rehab, Rent, Refinance, Repeat) is a foundational method for investors. Most Noteworthy, is that Spartan Commercial Mortgage offers the solutions to do a rehab loan on the property and then refinance the subject property. Furthermore, our rates and terms on a 30 year fixed commercial mortgage beat the competition.

The process is simple. First, borrowers identify a property. Secondly, Spartan Commercial Mortgage sets up your purchase/rehab loan. Third, the rehab process takens place (at which point you begin bringing in renters). Next, the refinance process begins for a cash out mortgage. Finally, borrowers then take the cashout funds and begin searching for their next property.

Overview of the Program

• 1-4 Units
• 100K – 2MM loan size
• During the rehab phase, the interest rate is interest only!
• 30 year fixed options available for long term financing
• Up to 90% LTV and 100% of the rehab costs are available in the first phase.
• 80% max LTV is available for the cash out refinance
• 660 min credit score
• Our rental property loan program must be done in a LLC or Corp
• Spartan Commercial Mortgage works with you every step of the way

We offer a free consultation and will work with you every step of the way to get your loan closed. Call us at the number below or click here for our online inquiry. We specialize in 1-4 unit rental property loans and are waiting for your call.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572

The post BRRRR Method Mortgage Loans appeared first on Spartan Commercial Mortgage.