Fix & Flip Loans

Primary Lender LLC Fix & Flip loans provide competitive rates for investors that purchase, fix and flip real estate for profit.


Purpose

Fix & flip, rehab purchase and refinance projects.


PROPERTY TYPES

Multifamily 5 -20 Units, Single Family 1 -4 Units


LOAN SIZE

$50,000 - $3,000,000


TERM

12 Months w/3 month extensions


AMORTIZATION

Interest Only


RATES

Federal Prime + 3% - 7.25%
Rates are based on location, property quality, leverage, and building experience.


MAX LOAN-TO-VALUE

85% - 90%


MAX ARV

75%


PREPAYMENT

No prepayment after 4 months.


FEES / POINTS

1% - 3%
Points vary based upon property location, property type, income, and borrower financials.


CLOSING TIME-FRAME

21 - 30 Days


FULL APPRAISAL

A full appraisal is required for all Primary Lender LLC Fix & Flip loans based off existing value and ARV.


Property Types

Multifam-green

Multifamily

House-green

Single Family 1 - 4 Units

 

Apply

 

Fix & Flip Loans

Fix & Flip loans are Bridge loans designed specifically to finance rehab projects. Fix & Flip loans, also known as interim financing, gap financing or swing loans, "bridge the gap" during the rehab and construction phase of a real estate project. The great thing about Fix & Flip loans is that loans are based upon the ARV (after rehab value) rather than the current appraised value. In many cases, lenders will lend up to 75% of the ARV.

 

How Do Investors Use Fix & Flip Loans?

Investors turn to fix and flip bridge loans when they need money to cover expenses in the interim rehab phase prior to selling or refinancing a property.