When you need to close fast, will you hit the ground running or will you hit the ground? It all depends on your lender..
Do you need a short-term loan so you can fix and flip a house? Our fix and flip loans allow you to purchase a property under market value, rehab it, and then re-sell it as quickly as possible. Typically, a 1-year term with no pre-payment penalty, it enables investors like you to maximize returns on quick flips. If you have a larger rehab project that is going to take longer than one year, do not worry we also offer 2 year fix and flip options as well.
Dryden finances both acquisition AND renovation costs. The more real estate investment experience you have, the less out of pocket costs there will be. Simply bring your down payment to closing, use your funds to complete the first state of renovation, and as the project progresses Dryden will reimburse you for the work completed. It's that easy.
WHAT MAKES THIS A GREAT PROGRAM?
Close fast to compete with cash buyers
Purchase and refinance loans up to 80% loan to as-is value
Finance renovation and construction costs (CLTV not to exceed 90% of ARV)
Stated-income only
Interest rates based on recent investment experience & credit
Interest-only payments #fixandflip #funding