Rate
starting at 11.99%
Interest Only | No-Prepayment | 1.99 points
No Points at Exit
No Points at Exit
LTV
100%
of rehab and 90% of purchase for a max after-repair-value of 70%.
No Income Verification or Appraisal required
No Income Verification or Appraisal required
Max Loan Amount
$300,000
with 6-month and 9-month term options for residential Single and Multi-family (2-4 units)
Loan criteria for your fix and flip project that allows you to scale your business.
Time is money, so we are upfront & transparent with our loan terms and fees to help you focus on the deal
Rate & Points
11.99%-12.5%
with interest-only payments
1.99 points
with interest-only payments
1.99 points
Other Fees
$1495 | includes BPO cost and admin, document preparation and servicing fee
$149 | draw fee with no maximum number of draws
$149 | draw fee with no maximum number of draws
Loan Amount & Terms
$75,000 - $300,000
Terms: 6-month and 9-month options, with a possible 3-month extension (1 point for extension)
Terms: 6-month and 9-month options, with a possible 3-month extension (1 point for extension)
LTV & Downpayment
LTV not to exceed 70% of After Repair Value
Downpayment | Minimum 10% of Purchase Price
Downpayment | Minimum 10% of Purchase Price
Rehab Cost
Can be 100% financed
Property Type & Occupancy
Single-Family and Multi-Family (2-4 units)
Occupancy | Non-Owner Occupied
Occupancy | Non-Owner Occupied
Eligibility
Borrower Type | LLC or Corporation
Track Record | Minimum three completed deals within the past 24 months
No income verification
Track Record | Minimum three completed deals within the past 24 months
No income verification
Property
Property Insurance | required on all loans and fully paid at closing for the term of the loan
Title | Mortgagee’s title insurance policy is required
Deed of Trust | 1st position only
Title | Mortgagee’s title insurance policy is required
Deed of Trust | 1st position only
All Other
Personal Guarantees | Required for all entity owners with 10%or more equity
bluemoney can also provide transactional funding or "double closes".
To inquire about a transactional loan, please contact us.
Grow your real estate business today
