Fix and Flip Loans
Rehab and construction loans for residential properties
Green Block’s fix-and-flip loans, often referred to as rehab loans or construction loans, are short-term loans (usually up to 12 months) offered to real estate investors to purchase and improve a property to be sold for a profit. These are non-QM (non-qualified mortgages) designed specifically with real estate investors in mind. We fund rehabs that are as simple as paint and carpet replacement or as complicated as a tearing the property down to the studs and rebuilding.
Fix and Flip Financing Details
1 – 4 Units
5+ Units & Mixed Use
|Loan to Value (LTV)||Up to 85% of purchase price + 100% of rehab (not to exceed 70% of ARV)||Up to 80% of purchase price + 100% of rehab (not to exceed 70% of ARV)|
|Term||12-18 months with no pre-payment penalty||12-18 months with no pre-payment penalty|
|Rates||Starting at 10.99%||Starting at 10.99%|
|Property Types||Non-owner occupied 1-4 units, condos, townhomes||Multi-Family Apartment Buildings (5+ Units); Mixed-Use Buildings (Residential Space Must Be Greater Than 50% of Square Footage)|
|Loan Amount||$50,000 – $2 million||$250,000 – $3 million|
|Minimum Property Value||$100,000||$35,000 per door|
|Borrower Type||US-based business entities. Foreign National guarantors permitted.||US-based business entities. Foreign National guarantors permitted.|
|Rehab Funds||Funded via Draws||Funded via Draws|
Fix and Flip Loan Application Process
Our loan process is simple – designed to help you close quickly and seamlessly. We know that time is money and our team’s goal is to help you move fast.
Apply for Loan
Upload required documents to our secure online loan portal
Underwriting reviews the file
Loan is APPROVED!
Funds for rehab and construction work are distributed via draws. This process is quick and easy.