PRIVATE CONSTRUCTION/ FLIP MORTGAGE

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Check out Construction/Renovation Financing Program.

Loan Amount: Up to 80% of construction costs (includes land, soft costs, hard costs, interest reserve).

Term: 6 – 18 months

Rate: Competitive (oac)

Repayment: Interest only from reserve, fully open

Income: no verification required

Great for New Construction & Flips

Draws Schedule for the Construction Mortgage

1st Draw to assist with purchase of lot (land) or take equity out of lot you already purchased. Normally about 50% value of the lot.

2nd Draw at 35% of the construction complete, at lock up – windows, doors installed and completed roof.

3rd Draw at 65% of the construction complete, dry wall installed taped and finished.

4th Draw at least 97% complete or Final Occupancy

This is perfect Program to turn a nice profit from any rebuild