Dear Friends, We want to keep it simple and save you time! Here is the only info you need for a… Pre-Approval / Proof of Funds Fix & Flip Quote DSCR Quote By providing the information above to Fixated Funding and most lenders, you should be able to quickly get
Dear Friends, Below we have outlined three simple steps that you can take to help pave the way for fast and efficient funding on your next Fix & Flip Take 2-3 minutes to review this list and save yourself time and frustration later! Here we go! Get Your Entity Documents
Dear Friends, Below we have outlined a few simple steps that you can take to help pave the way for fast and efficient funding on your next purchase or refinance with a DSCR loan. Take 2 minutes to review this list and save yourself time and frustration later! Here we
Dear Friends, Here are the most common questions we get about DSCR loans. Does the property need to be rented? We accept 1 Vacancy on 1-2 unit SFR. 3-4 units and 5-12 units must have at least 75%. We use 90% of market rent to qualify the income of vacant units.
Dear Friends, Here are the most common questions we get on Fix and Flip loan scenarios! What are your rates? Rates are subject to change but are currently between 9% and 11% depending on credit and experience. How many points do you charge? We generally charge 1-3 points depending on
Dear Friends, Here is a big picture overview on DSCR financing for your rental properties. DSCR stands for DEBT SERVICE COVERAGE RATIO. This loan type allows real estate investors to buy, refinance or cash out of their rental properties. DSCR loans are qualified based on the borrower’s credit and the
Dear Friends, Here is a big picture overview on Fix & Flip financing for your value add investment properties. Fix and flip loans are short term bridge loans that provide borrowers the opportunity to purchase properties that need improvements. Due to the condition of the properties, these purchasing opportunities often
We accept 1 Vacancy on 1-2 unit SFR. 3-4 units and 5-12 units must have at least 75% occupancy. We use 90% of market rent to qualify the income of vacant units.
We offer a min DSCR ratio of .75 with 700+ credit on SFR 1-4 units. The loan calculator in the portal will provide pricing for the borrower below DSCR 1 if the option is available to the borrower.
Yes, We require 6 months seasoning for cash out loans and are limited by LTV, LTC
We require 12 months verification of income for short term rentals and links to the rental listing. Additionally the property must be occupied at least 50% of the time in a 12 month period. The DSCR ratio is ultimately determined by market rent.
DSCR loans typically take 3 weeks to go when all parties are engaged. I typically estimate a 4 week close to set reasonable expectations.
Market rent is determined by a 3rd party appraiser who evaluates the comparable rents within the local real estate market.
The monthly payment outlined in our offer does not include taxes or insurance.
The draw process requires you to provide receipts or invoices as proof of money spent and schedule a video call to see that the work is complete. Assuming timely submission of information to us, we try to fund draws within three business days.
90% LTV. Borrowers generally have to come in with 10-15% down payment
It depends, we don’t allow for borrowed funds to be used for the down payment or for 2nd mortgages to be recorded at close, however, if you have sufficient liquidity in your account, have funds seasoned for 2 months or your PM is on the entity and signs as a guarantor…. we may be able to make it work. If using a private money lender is your plan, we should strategize ahead of time to ensure a smooth closing.
It depends, we don’t allow for borrowed funds to be used for the down payment. If that is your plan it’s important we plan in advance to ensure a smooth closing.
You pay origination fees on the total loan amount. You only pay interest on borrowed money. If you haven’t drawn from your rehab budget, you wont pay interest on undrawn funds.
Yes, We require 6 months seasoning for cash out loans and are limited by LTV, LTC
12 month financing to buy and renovate properties. Close quick and get 100% of rehab funded.
Checking, savings, and money market accounts.
