Primary Lender LLC Fix & Flip loans provide competitive rates for investors that purchase, fix and flip real estate for profit.
Fix & flip, rehab purchase and refinance projects.
Multifamily 5 -20 Units, Single Family 1 -4 Units
$50,000 - $3,000,000
12 Months w/3 month extensions
Federal Prime + 3% - 7.25%
Rates are based on location, property quality, leverage, and building experience.
85% - 90%
No prepayment after 4 months.
1% - 3%
Points vary based upon property location, property type, income, and borrower financials.
21 - 30 Days
A full appraisal is required for all Primary Lender LLC Fix & Flip loans based off existing value and ARV.
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.