Fix and Flip Loans

REI Loans offers 12-Month Interest Only Fix and Flip Loans for real estate investors looking to purchase, rehab, and sell (flip) residential properties within one year. Closings can be in as little as 10 business days with up to 100% financing on rehab costs and no interest charged on unused rehab funds.

Typical terms

Loan Type

12-month interest only fix and flip loan

LTV

Up to 90% of purchase and repair costs

Up to 75% of ARV

Loan Amounts

Minimum $75K to a maximum $4M

Eligible Properties

Single Family Residence

2-4 Unit Properties

Condominiums

Townhouses

Eligible Borrowers

U.S Citizens

Permanent Resident Aliens

Non-Permanent Aliens

Foreign Nationals

LLCs, Limited Partnerships, General Partnerships, Corporations

Geography

All States except Alaska, Nevada, North Dakota, Oregon, South Dakota, Utah

FICO

Minimum FICO is 600

Required Docs

1 Month Bank Statement

List of properties sold in the past 24 months

Last 2 years tax returns

Renovation budget

Sales contract

Corporate entity docs (articles/certificate of formation and operating agreement)

Driver’s license

Pre-Payment Penalty

Origination Points

Minimum origination fee to REI Loans is $1500

$450 SFR and $550 for 2-4 units Appraisal Fee (Due at the time of approval)

$595 Documentation Prep

$100 Loan Processing

$150 Fee per Construction Budget Draw*

*For loans with a construction holdback