Fix and Hold Investor Loans Overview
We offer several commercial rehab mortgage options for our borrowers. Most noteworthy of these options is our investor fix and flip or fix and hold investor loans. These programs are ideal for investors that are looking to close on properties quickly and begin renovation.
Investor Line of Credit
The Fix and Hold Mortgage Line of Credit allows the borrower/Investor to draw out money as he or she pleases. This is done for the purpose of buying as well as fixing the property. 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 a minimum of 50K in liquid reserves (cash, stocks, bonds, or also a Roth IRA).
2. Secondly, borrowers can purchase multiple properties with this line of credit. The investor mortgage credit line renews automatically once the property is flipped or refinanced.
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 90% LTV of the rehab and purchase. The program allows for 75% 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) are also acceptable.
– Multi-family of 5-20 units.
– Mixed Use (25% or less being commercial).
Call us today for a free consultation. Click here to get pre-approved. We specialize in Fix and Hold Investor Loans and are waiting or your call.
Thanks,
Michael Meyer
President Spartan Commercial Mortgage Services
mike@spartancommercialmortgage.com
(860) 876-0572