Last updated: June 10, 2024
Access remarkable savings when you bundle your Fix and Flip loan and DSCR loan refi with OfferMarket.
A Fix and Rent loan is a bundle of Fix and Flip loan on the front-end to purchase (or refi a cash purchase), rehab, rent and then refinance with a DSCR loan on the back-end. When you bundle these two loans together, you receive remarkable benefits:
Fix and Rent Guidelines | |
---|---|
Experience | 0 |
Credit score (min) | 680 |
Borrowing entity | LLC or Corporation |
Max LTC: purchase price | 90% |
Max LTC: rehab budget | 100% |
Max LTARV | 70% |
Interest rate | get instant quote |
Origination fee | 2 points |
Term | 6 to 18 months |
Structure | Interest-only |
Guarantor | Yes |
Refi test | 1.2 DSCR after repairs |
Verifiable experience among members in borrowing entity | LTC: purchase price |
---|---|
0 | 70% |
1 | 72.5% |
2 | 75% |
3 | 77.5% |
4 | 80% |
5+ | 85% |
5+, high ROI | 90% |
Licensed Realtor | +5% |
Licensed GC | +10% |
Licensed Professional Engineer | +10% |
Your exit strategy can be to sell ("flip"). While this program is focused on serving our core customers -- buy and hold 1-4 unit rental property investors -- we understand that, instead of holding in your rental portfolio, you may ultimately decide to sell. That is completely fine!
Yes, absolutely. While our core focus is on serving rental property investors who prefer to refinance after completing the Fix and Flip loan component of this Fix and Rent bundle, we fully understand you may decide that a sale of the property is a better exit strategy than a refinance based on your unique scenario and goals. We also understand and expect our clients may decide to work with a different lender for the refinance into a long term loan (i.e. DSCR loan).