Spartan Commercial Mortgage offers several investor mortgage options for our borrowers. Most noteworthy of these options are our Fix and Flip Investor loans. This program is ideal for investors that are looking to close on properties quickly and begin renovation. We also offer fix and hold mortgage solutions as well. The Fix and Flip Investor Loans we offer puts the borrower in control of the process from start to finish.
Investor Line of Credit
The Fix and Flip 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 mortgage credit line 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% LTV of the purchase and 100% of the rehab. The program allows for up to 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).
– Multi-family of 5-20 units.
– Mixed Use (25% or less being commercial).
Call us today for a free consultation or click here to get pre-approved. We specialize in Fix and Flip Investor Loans and are waiting or your call.
Thanks,
Michael Meyer
President Spartan Commercial Mortgage Services
mike@spartancommercialmortgage.com
(860) 876-0572