Fix & Flip Loan

Next-Financing Fix & Flip Loan

 

What is a Next-Financing Fix & Flip Loan?  It is a short-term mortgage used to acquire a property quickly.  Generally this financing is used until permanent financing is found, the home is resold, or it is rehabilitated and then resold.

Fast Financing For a Fast-Paced Market

Next-Financing Fix & Flip loans can provide the cash you need to grow your real estate portfolio.  Benefits include:

  • Get cash from rehab projects – loans from $75K* to $2 million
  • No hurdles – flexible loan options designed to meet your strategic needs

Advantages of Next-Financing Fix & Flip Loans:

  • Up to 90% of Purchase & Rehab Costs.
  • Fix-and-flip financing up to 12 months.
  • 600 minimum FICO.
  • No hurdles- a very user-friendly and streamlined process.
  • No pre-payment penalty.

 

Request Information Investor Loans

 

Fix & Flip Loan FAQ’s

 

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

A:  The following property types are eligible for our fix and flip loans:

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

Q:  What type of Fix & Flip Loans are offered by Next-Financing?

A:  Next-Financing offers fix-and-flip loan rates between 7.19%-12.9%. All rates are based on the individual property and borrower.  Call us to learn more.  800-605-1821.

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

A:  Next-Financing Fix & Flip loans have a minimum loan amount of $50K* and a maximum loan amount up to $2M (Exceptions Granted).

Q:  Do you lend on construction or repairs?

A:  Yes, Next-Financing specializes in providing Fix & Flip loans that include both the purchase and repair costs as part of one loan.

Q:  What States does Next-Financing offer it’s Fix & Flip Loan Loan Products?

A:  Next-Financing provides lending in all States and District of Columbia except Alaska and South Dakota.

Q:  What is the minimum FICO Score for Next-Financing’s Fix & Flip Loans?

A:  Next-Financing’s Fix & Flip Loan FICO score minimum is 600.

Q:  What type of documentation is required for Next-Financing’s Fix & Flip Loans?

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

Next-Financing will ask for the following documents for Fix & Flip Loans.

  • Sales Contract
  • Construction Budget
  • Two months bank statements
  • A list of properties you currently own (an REO Schedule)
  • Two years of tax returns
  • LLC Operating Agreement or Articles of Corporations

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

A:  Yes, we only lend to real estate companies. Our Fix & Flip loans are available to the following borrowers:

  • LLCs
  • Limited Partnerships, General Partnerships
  • Corporations

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

A:  Our Fix & Flip loans are available to the following borrowers:

  • U.S. Citizens
  • Canadian Citizens
  • Permanent Resident Aliens

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

A:  No.  Next-Financing provides commercial only loans that are non-owner occupied (investment) properties.

Q:  Is there a Prepayment Penalty?

A:  No, there is no Prepayment Penalty on our 12-month Fix & Flip loans.