Commercial Real Estate – Fix N Flip
Is a Commercial Real Estate – Fix N Flip Loan Right for Your Business?
When the right opportunity presents, commercial real estate fix n flip loan could be just the right solution for you to make the acquisition, improve the property and have a successful and profitable exit. While a traditional loan focuses on the borrower’s credit history, a commercial real estate fix n flip loan focuses on property value. The real estate value must be enough to cover the insurance, mortgage and taxes of the loan.
Advantages of a Commercial Real Estate – Fix N Flip Loan
This type of loan is especially helpful to businesses turned down for other types of loans because of credit issues. Fix n flip loans need less documentation and receive faster approval than traditional loans. Businesses can use fix n flip commercial real estate loans for the same purposes as traditional loans such as buying property, providing working capital, and property improvements.
Whether your business is apartments, restaurants, warehouse or anything else, if your property meets the requirements, you can qualify for a fix n flip loan.
Deciding if a Commercial Real Estate – Fix N Flip Loan is Right for You
Use these general loan basics to see if a fix n flip loan is a good choice for your business.
- Do you have experience doing fix n flips
- Is the property meant for non-owner occupied status
- Do you have clear plans and budgets for your project
- Qualifying credit score of >650
- Loan amounts as large as $750,000
- Loan-to-value ratio of up to 65 percent
- LTV ratio of up to 70 percent for 1 to 4-unit, non-owner-occupied investment properties
- LTV ratio of up to 75 percent and a credit score of 700 or better for multifamily and mixed-use properties with five or more units
- Finance up to 75% of acquisition and up to 100% of rehab costs
If you feel a fix n flip loan is right for you, contact us today for more information.