5+ UNIT FIX & FLIP LOANS

Short-term financing for the purchase & rehab of non-owner occupied properties

Looking for Funding For Your Next MULTI-FAMILY Fix & Flip Project?

The 5+ unit fix & flip loan program offers financing for up to 80% of the purchase
price + 100% of renovation costs, not to exceed 70% 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 5+ unit houses, condos, townhomes, apartments, mixed-use properties

LTV

Up to 80% of the purchase price + 100% of the renovation cost, not to exceed 70% of the ARV

Term

18 months (3-6 month extension available)

Minimum As-Is Property Value

$35k per unit for multi-family (5+ units) / mixed-use

Loan Amount

$250k – $5M for multi-family (5+ units) / mixed-use

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 85% of the purchase price + up to 100% of renovation costs, not to exceed 70% 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 85% of purchase price + up to 100% of renovation costs, not to exceed 70% of the after-repair value

Starting at 10%