Fix and Flip Mortgage Program
Doing a Fix and Flip Mortgage does not need to be difficult. At Northeast Financial we work with you every step of the way during the process. Even more, our experienced staff will meet with you in person to discuss your options. This program is ideal for investors that want to either do the rehab themselves or contract the services out.
Fixing and Flipping Line of Credit
The Fix and Flip 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. You have to have experience with Flipping properties. Or a borrower must have active rental income within the last 2 years.
2. And borrowers can purchase multiple properties with this line of credit. Also, the credit line is a maximum of 1MM.
3. In addition, the standard length of this program is 9 months. And extensions are available for longer!
– Single-family detached residences (SFR).
– 2-4 unit residences.
– Planned Urban Developments (PUD).
– Multi-family of 5-20 units.
Due to the high demand for this program, we often offer seminars on this loan program. While these seminars do fill up quickly, we offer several of them throughout the year.
In conclusion, if you have any questions about Fix and Flip Mortgage Financing or for a general mortgage consultation or for a pre approval please call us today!
Residential Clients: Click Here For Application