Fix to Rent Loans
Is your credit score coming in the way of accessing a real estate loan? Real estate investors have been facing challenges in getting bank loans for their dream projects for years now. This is where fix to rent loans come to the rescue.
At First Funding Loans, we offer tailormade financing solutions for those wanting to invest in real estate. Whether you want to fix and rent or fix and hold, we have just the right loan for you.
Our structured programs are designed to cater to individual needs within the minimum timeframe. We always strive to ensure that you have the smoothest and most satisfying experience of obtaining funding.
Simple Terms and Conditions
For bridge loans and permanent financing, purchase or refinance of residential properties for renovation and refinance of renovated property with signed lease, respectively, First Funding Loans is your one-stop solution.
Bridge loans have tenure of 12-18 months, while permanent financing has a tenure of 30 years. The former has zero prepayment penalties and no minimum debt service coverage ratio.
Our rates are fixed for bridge loans and 30-year fixed 5/7/10 Hybrid ARMS for permanent financing.
We offer loans ranging from $75,000 to $1 million for single properties and $1 million to $20 million for portfolios, in case of bridge loans. For permanent financing, we offer more than $80,000, as required.
Borrowers need to provide full recourse with personal guarantee for our fix to rent loans. Additionally, you need to have a good track record of ground up construction projects. We also go through your appraisals with rent assessments and your property management experience. To help us work with you smoothly, we expect an experience of at least 6 months.
In terms of lease requirements, you will need to provide us with a signed lease with deposit proof. That is all.
So, are you ready to get the quickest and easiest fix and rent loans? Get in touch with us for expert services.