Loans Program for Residential Fix & Flip Investment Property
Lending Area: Texas Metro cities and surrounding markets of:
San Antonio, Corpus Christi, Austin, Houston, McAllen and DFW Areas)
Transaction Type: Purchase Only
Loan Amount: $100,000 up to $750,000
Loan to Value: Up to 70% ARV with 10% down
Rehab Money: If available, held in escrow and released in typically 2-3 draws in arrears as work is completed.
Credit Score: No minimum credit score
Other Items that may be needed for final approval and closing:
- Completed Loan Application
- Borrower Credit Authorization Form
- Signed Commitment Letter, Estimated Closing Costs & Escrow Analysis
- Copy of valid ID (DL, etc.)
- Contact info for Insurance
- Copy of Earnest Money Contract (if purchase)
- Copy of detailed repair list and costs
- Corporate Entity Documentation
- Copy of most recent survey
- Fee for BPO (Real Estate Broker Price Opinion) or Appraisal, depending on loan amount
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