1-4 UNIT FIX & FLIP LOANS
Short-term financing for the purchase & rehab of non-owner occupied properties
Looking for Funding For Your Next SINGLE-FAMILY Fix & Flip Project?
The 1-4 unit fix & flip loan program offers financing for up to 90% of the purchase
price + 100% of renovation costs, not to exceed 75% of the after repair value.
Additionally, Now Lending only charges interest on your outstanding balance,
not on the rehab holdback so you don’t pay for the funds you aren’t using.
LOAN CRITERIA
Collateral
Non-owner occupied 1-4 unit houses, condos, townhomes, apartments, mixed-use properties
LTV
Up to 90% of the purchase price + 100% of the renovation cost, not to exceed 75% of the ARV
Term
12-18 months (3-6 month extension available)
Minimum As-Is Property Value
$75k for single-family
$50k per unit for 2-4 family
Loan Amount
75k – $2M for 1-4 unit houses, condos, and townhomes
Minimum FICO
680
FIX & FLIP LOAN PROGRAM TYPICAL LEVERAGE & RATES
New Investor
Completed up to 2 flips or owned up to 2 rentals in the last 3 years
Up to 80% of purchase price + up to 100% of renovation costs, not to exceed 70% of the after-repair value
Starting at 11%
Intermediate Investor
Completed 3 – 9 flips or owned between 3 – 9 rentals in the last 3 years
Up to 90% of the purchase price + up to 100% of renovation costs, not to exceed 75% of the after-repair value
Starting at 10.5%
Experienced Investor
Owned 10 or more investment properties (flips and/or rentals in the last 3 years
Up to 90% of purchase price + up to 100% of renovation costs, not to exceed 75% of the after-repair value
Starting at 10%