Fix and Flip Loans
Typical Loan Terms
Typical Terms for Fix and Flip Loans
Walnut Street Finance is the go-to hard money private lender for entrepreneurial real estate investors. Fix and flip loans are fast and easy. Each loan is customized based on your unique situation. There is no “one size fits all”. The real estate value, the cash you want to put down, your experience and credit are part of what goes into determining the right terms for you. Here are the typical terms and characteristics of a fix and flip loan.
Loan Term
- 6-12 Months
Loan to Value (LTV)
- up to 75% of After Repair Value (ARV)
Loan to Cost (LTC)
- 100% of Rehab Cost
- up to 90% of Purchase and Rehab Cost
Eligible Properties
- Single Family Residential
- 2-4 Unit Properties
- Condominiums
- Apartment and Mixed-Use Buildings
- Small Balance Commercial
*must be non-owner occupied
Eligible Borrowers
- U.S Citizens
- Permanent Resident Aliens
- Non-Permanent Aliens
- Foreign Nationals
- LLCs
- Limited Partnerships
- General Partnerships
- Corporations
Geography
- Washington DC
- Virigina
- Maryland
Credit (FICO)
- Minimum FICO score of 600
Required Documents
- Personal Financial Statement
- 1-month Bank Statement*
- List of Properties Sold in past 24 Months
- Renovation Budget
- Sales Contract
- Corporate Entity Documents (articles/certificate of formation and operating agreement)
- Credit Authorization
* only required in certain borrower situations
703-273-3500
Best Hard Money Loans
Fast
Quick response makes all the difference to keep your project on schedule.
- Fast approval
- Fast closing
- Fast draws
Helpful
We get it. Projects never go exactly as planned. We are here to help you.
- Local market experts
- 30+ years construction experience
- Your success is our success
Best Terms
Cash flow is critical on your projects. Our loan terms are set with your needs in mind.
- Minimal cash down
- No interest payments up to 6 months
- No need for perfect credit
Areas We Serve
Hard Money Loans for:
Washington DC
Virginia
Maryland
Recent Projects Funded by Walnut Street Finance
Vienna VA
Washington DC
Washington DC
Chevy Case MD
Hard Money Private Loan vs Traditional Bank Loan
|
||
| Hard Money Loan | Traditional Bank Loan | |
| Can close in days | Speed | 30-45 days to close |
| Minimal | Paperwork | Bank regulations & checklists |
| Borrowers qualify based on project and equity. Less than perfect credit does not disqualify. | Qualifications | Qualification often not possible for renovation projects. Borrower credit score weighed heavily. |
| 20% | Down Payment | 30% |
| Flexible rates and terms are available and designed around project and borrower | Flexibility | Set loan rates and terms |
Karen H.
“Extremely glad we went with this lender. They are not just a lender but a fabulous resource as well. They have provided a wealth of information on renovations from vendors to agents that are top notch in this market. They are interested in the success of their clients and I have been able to call them or email them with questions. I always get a quick and informative response. No other lender wants to help you like this one. Use them.”
Jason B.
"Walnut Street Finance has been a great partner to work with for my real estate investments. I’ve worked with Walnut Street on multiple projects and they’ve given me solid advice with questions on permits and inspections as well as quality referrals for contractors."
Madeline S.
“Walnut Street Finance was referred to me by my Mortgage lender. They are fast, attentive, and have an amazing staff. I used WSF for a recent flip project, Melissa came out to the property to check it out and make sure it would be a good deal. After the renovations, it sold in 4 days with multiple offers for full list price. I am already working with them again on another project, they are great to loyal clients."
Laura H.
“When no one else wanted to take this adventure with us, Walnut was there, as excited as we were about our project. They went above and beyond to help us out and we will forever be grateful for their confidence in us.”
703-273-3500
About Walnut Street Finance
Before becoming a real estate private money lender, Walnut Street Finance spent twenty years as a builder and developer. We understand your project needs because we’ve been there. Our streamlined process is fast and easy, and we will help you every step of the way – with the loan process, at the closing table, and all the way to the day you sell or refinance your property and start your next project! All of this saves you time and money.
We offer private money loans from $150,000 to $2.5 million. Experts in Washington DC, Virginia, and Maryland.
Walnut Street Finance Proud Members
