100% Fix and Flip Loans

 

Next-100 offers experienced fix and flip investors the ability to maximize their leverage with our new 100% Fix and Flip Loan. For investors with 4+ verifiable flips in the last 3 years and 680+ credit, we offer 100% purchase funds, 100% rehab funds and 100% of the closing costs & fees (origination, points, doc/file fee, etc.) associated with closing your Next-100 Fix and Flip Loan. Basically, everything is financed, except for your monthly interest payment. (Updated on 8/30/2024)

 

 

 

Fix and Flip Loans / 100%

 

Guidelines / Minimum Requirements:

 

• Up To 100% of Purchase Price (purchase price on the purchase contract)
• Up To 100% of Rehab Costs (You will create a rehab budget for your project)
• 75% ARV – Max Loan Amount (We can’t go over 75% of the ARV. Whatever doesn’t fit in the 75% ARV amount is the only amount you need to bring to the closing table. Typically, the higher your rehab budget, the harder it is to fit the ARV under 75%. No worries – we can massage the numbers and create a loan that works for you.)
• 12 Month Term / No Prepay Penalty
• 10.49% – 11.49% Interest-Only Payments
• 680+ Credit Score Required
• 4+ Verifiable Flips in the Last 36 Months (We have other fix & flip programs for those with little to no experience and lower credit scores. Everybody has to start somewhere – there’s no shame in that.)
• $100K Minimum Loan Amount
• 3 Months of Reserves – Just need to show 3 months of reserves via bank account, brokerage account, money-market account, etc.)
• No Prepay Penalty
• No Hurdles or Surprises – a very user-friendly and streamlined process
• Fast Approvals & Closings (2-3 weeks on average)
• Every Applicant must Qualify for Any/All of our Fix & Flip Programs. We will always try for the best/highest leverage amount, but if you don’t qualify for 100%, that doesn’t mean you won’t qualify for 85-90% LTV + 100% Rehab. Those are great approval numbers too! We will always do everything possible to limit or eliminate any out of pocket money. We want the same thing you do….little to no out of pocket money, to create the highest ARV possible, that generates a maximum net profit. Then use the same formula to do it over and over again. 

 

Click On The “Let’s Get Started” Button Below & Get Pre-Approved Today!

 

 

 

 

 

Fast Financing For a Fast-Paced Market:

At Next-Financing, you get flexibility and speed, not red tape and committees. Bottom line: If your strategy is sound and your property has potential, we’ll find a way to make your loan work—without the drama and without the run around. Let’s work together & fund some deals!

 

Do You Need Proof of Funds while Property Shopping?

 

100% Fix and Flip Loans

FAQ’s

 

Q:  What type of properties are eligible for Next-100 Fix & Flip Loans?

A:  The following property types are eligible for a 100% Fix and Flip Loan from Next-Financing:

• Single Family Residence (SFR)
• 2-4 Unit Properties
• Condominiums
• Townhouses

Q:  What type of Fix & Flip loan rates/terms are offered by Next-Financing?

A:  Next-Financing offers Fix & Flip Loan rates between 10.49%-11.49% over 12-24 months. Rate & Term is based on the loan program, property, location, borrower’s credit score and experience level. Contact us to learn more at:  Sales@Next-Financing.com

Q:  What are the minimum and maximum loan amounts for Fix and Flip Loans offered by Next-Financing?

A:  Next-Financing Fix and Flip loans have a minimum loan amount of $75,000 and a maximum loan amount up to $10 Million. Next-100 Fix & Flip Loans have a $100K minimum loan amount. Certain Metro areas have a higher minimum loan amount.

Q:  Do you lend on construction or repairs?

A:  Yes, Next-Financing specializes in providing Fix and Flip Loans that include both the purchase and 100% of the rehab costs as part of the total loan amount.

Q:  What states are eligible for a Next-Financing Fix and Flip Loan?

A:  Next-Financing provides fix & flip loans in all states, except for Alaska & Vermont. We can provide bridge loans or purchase loans in all 50 states, but those bridge loans wouldn’t include rehab funds.

Q:  What is the minimum credit score for a Next-100 Fix and Flip Loan?

A:  680+ Credit Score. 100% Fix and Flip Loans require a 680+ minimum credit score.

Q:  What factors are considered for approval?

A:  We look at things differently than a bank and rely mostly on your real estate experience, location, property and other common sense factors when making decisions.

Q:  Do you lend to Companies or LLC’s?

A:  Next-100 Fix & Flip Loans are required to close in an entity. We do have Fix & Flip Loans that can close in your individual name, but they’re capped at 85% LTC and 70% ARV. Let’s talk about your options and map out a plan. If we’re not closing for 2+ weeks, we have plenty of time to make things happen as an entity or an individual. This is not a deal breaker.

• LLC’s
• Limited Partnerships, General Partnerships
• Corporations
• Individuals

Q:  Does Next-Financing lend to people from other Countries?

A:  Yes – We have Fix & Flip loan programs (up to 90% LTV + 100% Rehab Costs) available to the borrowers listed below. ITIN’s are becoming extremely flexible, so typically….where there’s a will, there’s a way. Our Next-100 Program is only available to U.S. Citizens:

• U.S. Citizens
• Foreign Nationals
• Permanent Resident Aliens

Q:  Can I receive financing for a residence I’m looking to live in permanently?

A:  We can provide owner occupied loans to purchase or refinance, but we can’t do owner-occupied fix & flip loans. The loan won’t cover additional rehab funds, but it will cover up to 85% of the purchase price. Owner Occupied loans are not available in all states.

Q:  Is there a Prepayment Penalty?

A:  No, there is no Prepayment Penalty on our Fix & Flip Loans. A typical Fix & Flip Loan will have a term of 12-24 months with interest-only payments & no prepayment penalty. The goal is to get in and get out as fast as possible, so we encourage you to pay your loan off early….not penalize you.

 

Let’s Get Started!