757-366-8690
tphelps@tidewaterhomefunding.com
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Tim Phelps

NMLS ID ------

757-366-8690 tphelps@tidewaterhomefunding.com

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Fix & Flip Financing

Fix & Flip Financing

May 29th, 2018

RECOURSE & NON-RECOURSE OPTIONS

Fix & Flip Line of Credit

  • Lines of credit for multiple transactions 
  • Funding up to: 90% of purchase price / 95% of rehab / 75% LTV (after repair value)
  • Loans from $50K to $2.5MM
  • Must be non-owner occupied
  • Minimum credit score 620

New Construction Line of Credit

  • Lines of credit for multiple transactions 
  • Funding up to: 75% of as is value / 85% loan-to-cost / 85% rehab of budget
  • Loans from $250K to $100MM
  • Minimum credit score 660
  • Must be non-owner occupied

Per guidelines, must meet experience requirements. Net worth requirement, minimum 30% of the line of credit amount. Liquid assets must equal a minimum of 20% of the line of credit amount. Loans are 12-month notes, interest only. No log homes, no earth homes.