"Funding that fits"

FIX & FLIP

FIX & FLIP LOANS

 

Program Overview

FOND FINANCE works with many lenders nationwide.

Every lender is different – we choose the best one for your deal.

Our programs generally have the following features-

  • 90% Purchase price financing
  • Starting at 1-3 origination points
  • Interest only monthly payments starting at 6.99% APR (no prepay penalty)
  • Non-owner occupied only
  • 1-6 units (depending on state more units are acceptable)
  • No experience required
  • Draw fees starting at $297 (rehab funds reimbursed in draws)

Broker fees are based on the deal size and are paid out of escrow.

1. NO MINIMUM CREDIT SCORE PROGRAM

 This program is available in all states except for MN, NV, SD, UT, VT

  • $197 Application fee (Paid at start of application after pre-app approved)
  • 90% Purchase price financing (up to 70% of ARV)
  • Starting at 1 origination point
  • Interest only monthly payments starting at 9.99% APR (no prepay penalty)
  • Non-owner occupied only
  • 1-4 units
  • No experience required
  • Draw fees starting at $297 (rehab funds reimbursed in draws)

2. 100% FINANCING

This program is available in the following states CO, CT, DE, FL, GA, IL, IN, KS, KY, LA, ME, MD, MA, MO, NH, NY,  NC, PA, RI, SC, TN, VA, WV

Financing covers up to 100% of purchase price and 100% of rehab cost up to 70% of ARV.

  • 630 minimum FICO
  • 100% Purchase price and rehab financing (up to 70% of ARV)
  • Borrower pays 3 months of interest only payments at closing
  • Working capital reserves of ~20% of rehab cost
  • Starting at 2 origination points
  • Interest only monthly payments starting at 9.99% APR (no prepay penalty)
  • Non-owner occupied only
  • 1-6 units
  • No experience required

3. ZERO DOWN FINANCING

 This program is available in all states except for MN, NV, SD, UT, VT

  • Must have completed and exited 8 fix and flip deals in the last 24 months
  • Signup and vetting fee is $500 and paid at time of application to program
  • $550-$650 appraisal fee (paid to 3rd party)
  • 90% Purchase price financing (up to 70% of ARV)
  • Starting at 1 origination point
  • Interest only monthly payments starting at 9.99% APR (no prepay penalty)
  • Non-owner occupied only
  • 1-4 units

FAQ

Q: Do we have a program with no cash to close?

A:  We offer such a program for highly experienced investors. Must have completed 8 fix and flips in last 24 months. See the “Zero Down Financing” program above.

Q: Do lenders pay for rehab costs to start the work?

A: Almost no lenders offer up front rehab funds. We have 1 lender that offers up front capital for qualified borrowers.

Q: Is there a prepayment penalty on fix and flip loans?

A: Most of our programs do not charge a pre-payment penalty.

Q: Do I need experience to qualify?

A: Most lenders do not require experience to qualify for financing.

Q: Can I live in the property while it’s being rehabbed?

A: No. We don’t provide owner occupied loans.

Q: What states do we lend in?

A: We offer financing in all states. Some of our programs/ lenders are available in other countries besides the USA.

 

 

 

 

 

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