Everything you need to know about fix and flip hard money loans

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For fix and flip investors, access to quick financing is super important. We understand that our clients who purchase properties need to do some rehab to make the houses ready for sale or rental. In some cases, repair may cost more remarkable than the actual price of purchase. That’s why LBC Capital provides the best types of financing for fix and flip loans:

Private Money Loan/Hard Money Loan
This is the most popular type of loan for people looking to fix and flip homes and who need money fast. Maybe a borrower doesn’t have time or the credit to wait for the bank’s “blessing,” or they have got credit issues that would prevent them from getting a traditional loan. Private money loans and hard money loans are available for experienced investors, flippers, contractors, and developers.

Cash-Out Refinance
This type of loan is excellent for investors with enough equity build-up in an existing home or property.

Home Equity Line of Credit
A HELOC is ideal for flippers that have an owner-occupied home. This allows them to access money using the equity they have built up in a home for use when they find a property that they’d like to fix and flip but don’t have a specific project in mind yet.

We also offer the best fix and flips hard money loan programs to help our customers to enhance their business:

Program 1
– Residential properties nationwide
– Up to 90 LTC, depending on experience
– Minimum 660 fico
– Loan amount not to exceed 75% of ARV

Program 2
– Purchases with fix and flip budget
– Residential properties nationwide
– Up to 85LTV on purchase and 100% of the budget
– 5+ fixes and flips in the past three years
– Minimum 500 fico
– Loan amount not to exceed 75% of ARV

Program 3
– Purchases with fix and flip budget
– Residential properties in metro cities in CA (1-4 units)
– Up to 80LTV on purchase and 80% of the budget (repair and purchase)
– Experienced fix and flipper (2-3 properties)
– Minimum 650 fico
– Loan amount not to exceed 75% of ARV

Program 4
– Purchases only
– Residential properties in metro cities in CA
– Up to 80LTV
– Minimum 650 fico

What do you need to qualify for the fix and flip hard money loan program?
– minimum 500 fico credit score (650 is preferable)
– total rehab or construction budget
– if you are doing it by yourself, you will be required for the previous 2-3 rehab projects
– if you are new for fix and flips, we will request the info for a licensed contractor
We provide hard money loans up to 85% LTV for 12-24 months. If you have several home renovation projects under your belt or a licensed contractor you’re working with to fix and flip a home, our professionals will gladly help you.
Should you still have any questions about hard money loan programs for fix&flip, feel free to contact us today at (818) 761-7234 and learn how you can compete even with all-cash buyers in a competitive market!

Follow our social media channels to check recent fix and flips cases:
LinkedIn: https://www.linkedin.com/company/lbccapital
Facebook: https://www.facebook.com/LBCcapital
Instagram: https://www.instagram.com/lbchardmoney

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