Fix and Flip Loans
Our single family fix’n flip loan is designed for investors seeking maximum leverage. PIL will loan up to 100% of hard cost (purchase + renovation) with a limit of 70% of appraised ARV. Loan term is six (6) months with three (3) month extensions available for a 1% fee. Loans can be paid off at any time without additional fees or penalties.
Rates & Terms | |||
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Loan Amount | Up to 100% of Cost (Purchase + Renovation) or 70% of ARV | ||
Origination Fee | 3.5% of loan amount (payable at closing) | ||
Interest Rate | 12.9% interest-only monthly payments | ||
Pre-Payment Penalty | None | ||
Term | 6-months (1% fee per 3-month extension) | ||
Liquity Requirements | 20% of the loan amount |
Qualifications & Requirements | Lender Specific Closing Costs |
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620+ Credit Score | $450 Processing Fee |
3 Months Bank/Investment Statements | $350 Administration Fee |
Liquidity = 20% Loan Amount on No-Cashflow Assets | $50 Wire/Courier Fee |
Two Years Tax Returns | |
Completed PIL Loan Application |