Fix and Flip
Fix-and-flip loans are short-term financing options for real estate investors who aim to purchase and renovate properties for resale at a profit or for refinancing purposes.
Standard Loan Terms
Max Loan Amount: $5,000,000
Max LTC/ARV (Loan to Cost / After Repaired Value):
– Experienced Investors: The Lesser of 85% LTC or 70% ARV.
– Inexperienced Investors: The Lesser of 80% LTC or 65% ARV.
Rates: Starting at 9.99%
Term of loan: 6-18 months
Payments: Interest Only with balloon at maturity.
Prepayment penalty: None
Interest type: Non-Dutch
Standard Closing Costs
Origination Fee: 1-2%
Underwriting Fee: $1,500
Draw Fee (for future draws on the loan): $350
Legal: $750 – $1,500
Appraisal Fee: $500-$950
Title Insurance and recording fees: 1% (Approximate)
Standard Closing Time
The Usual Time to Close is 10-15 days.
RBI Private Lending is a direct lender and does not rely on other institutions to close the loans. Once the title work, appraisal and feasibility report are ready, We will be too!
Standard Requirements
Credit Application
Last 2 bank statements (US bank account)
Copy of ID and Borrowing Entity docs
Purchase Contract (If Purchase)
Project budget/ Scope of work
Approved plans (If applicable)
Track Record Sheet
Contractors information
Property Insurance
Property Types
Condominiums.
Single-family residences.
Two to four units.
Multifamily homes.
Townhouses.
Other property types case by case
