Fix & Flip Loan.
For investment property loans for rehab financing (purchase or refinance)
Fix & Flip Loan
Investment property loans for rehab financing (purchase or refinance)
No experience needed. Experience is defined as a 36-month lookback period (includes flips, builds, and rentals)
Individual Loan Size:
$50K – $3MM
Exposure Limit Amount:
$500K – $10MM
Multi-Family and Mixed-Use Properties (Subject to LLPAs)
Standard Rehab: 80% LTC | 70% ARV LTV Extensive Rehab: 75% LTC | 65% ARV LTV
100% of rehab budget must be financed
Individuals and Entities (LLC, Corporation). Foreign Nationals eligible.
Non-owner occupied: Single Family Residence, 2-4 units, Condos1, Multi-family, Mixed
Eligible Costs Financed
We finance Hard Costs and all Soft Costs
12 months standard, interest-only with fixed rate. 18-month option available.
90 days of interest on the maximum loan amount
Interest on full balance or the actual drawn balance
Ineligible Project Scope
Tear downs, modular, ADU’s, add a story, remove exterior walls, addition > 500 square feet, conversions, and adding units is on exception basis only), no new construction
No-fee alternative valuation option for eligible properties4; otherwise, full narrative appraisal with “as-is” and “ARV” values required. No rural properties.
Down Payment + Closing Costs + 10% of the Holdback + Any Equity Shortage + Required Reserves
Fix & Flip Boxwood Mortgage Program – Private Money Financing
- 20% down payment / 80% Loan to value when refinance.
- No credit score or low credit scores is okay. With Alternative tradelines.
- No mortgage insurance required.
- Gift funds from a relative, for closing are allowed.
- Investment Property only.
- Fixed rates available.
- Terms 6-12 Months – Hard money loans.
- No prepayment penalties to pay early or extra each month.
- Borrowers with TAX ID or ITIN # are okay.
- Alternative income documents are acceptable.
Types of Income Documents Allowed:
- CPA / Accountants Letter required when self-employed.
- 12 Month Bank Statements.
- Two years of 1099’s.
- Two years of W2’s.
- Lease agreement on rental income from existing property.
- Two years tax returns.
- Verification of Employment for the last 2 years.