Real Estate Investor Mortgage Options
We offer several real estate investor mortgage options for our borrowers. Most noteworthy of these options is our investor fix and flip mortgage or fix and hold mortgage program. This program is ideal for investors that are looking to close on properties quickly and begin renovation.
Fix and Flip or Fix and Hold Mortgage Program
The Fix and Flip or Fix and Hold Lines 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 flipping the property. Or the property investor may choose to refinance and then rent out the properties! Also, properties can be purchased that need little to no work! Here is a quick overview of the program:
1. You should have experience with Flipping properties (but, we do offer solutions for people with no experience). Or a borrower must have active rental income within the last 2 years. Borrowers are also required to have a minimum of 50K in liquid reserves (cash, stocks, bonds, retirement)
2. And 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 9 months. And extensions are available for longer!
4. Furthermore, investor mortgage credit lines are from 50K to 2.5MM.
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.
– Single-family detached residences (SFR).
– 2-4 unit residences.
– Planned Urban Developments (PUD).
– Multi-family of 5-20 units.
– Mixed Use with less than 25% being commercial.
At Northeast Financial we specialize in both residential and commercial financing. The pre-approval process is easy.
Please call us today for a free consultation about our fix and hold mortgage options.
Senior Vice President of Northeast Financial