Connecticut Fix and Flip Loan Overview:

Spartan Commercial Mortgage offers Connecticut Fix and Flip Loan options to real estate investors! Most newsworthy about these options are that no previous experience is required in order to qualify. Although, if you have experience then your rate and terms will be very competitive. The Connecticut Fix and Flip Loan program allows investors to get financing for both the purchase and the rehab of the property the plan on flipping.

Investor Line of Credit

The Connecticut Fix and Flip Loan Program is set up as a line of credit. This allows the borrower/Investor to draw out money as he or she requires.  Here is what you need to know:

1. Borrowers will need to fill out the application, personal financial statement (instead of bank statements), provide us with their LLC documents in the name they are closing the loan in, and provide us with a rehab budget. It is that easy!

2. Secondly, borrowers can purchase multiple properties with this line of credit. 

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

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

5. Finally, the funding of this program varies depending on experience (again, none is required), credit score (minimum credit is usually a 620), and property. Spartan Commercial Mortgage has the ability to offer financing of up to 85% of the purchase and 100% of the rehab. Contact us to find out what type of financing you qualify for.

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 Fix and Flip Loan programs and are waiting or your call.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com  

(860) 876-0572