- February 27, 2018
- Posted by: Michael Meyer
- Category: Connecticut, FHA 203k
Ideal for Investors
First of all, do you have an interest to Fix and Flip residential properties in Connecticut? Here at Northeast Financial we offer a very unique product known as Fix and Flip Financing. This product is great for investors because it provides a line of credit that allows you to fix and flip multiple properties!
Furthermore, this program allows you to be in the driver’s seat. The line of credit allows investors the ability to move quickly and in the direction they want.
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 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, properties have a limit of $1 million to $2.5 million per property.
3. In addition, the standard length of this program is 9 months. And extensions are available up to 21 months!
– 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 month.
In conclusion, if you have any questions about Fix and Flip Financing or for a general mortgage consultation or for a pre approval please call us today!
I look forward to speaking with you!
Mortgage Loan Originator
NMLS: 1590862 Company NMLS: 117273
Cell: 203-695-6858 Fax: 203-413-6240