Purchase and rehab, released in draws.
A fix and flip loan buys the investment property and holds rehab money until the work is done and inspected. Send the purchase and the scope, and we price that file with you.
Buy the property, renovate it, and resell it. Rehab money stays back at closing and is released in draws as the work is completed and inspected. This is a business-purpose loan on investment property.
How do rehab draws work?
- The purchase and the rehab budget are underwritten together. Send both, and we price the file with you.
- The purchase funds at closing if the loan is approved.
- Rehab funds stay back. You request a draw when a portion of the work is done.
- The work is inspected. Approved amounts are released. A draw is not automatic.
- The loan is repaid when you sell or refinance, on the terms priced for that file.
How is the loan priced?
Send the property, the purchase, and the rehab scope. We price the rate, the term, and the leverage with that file. If the deal is a same-day double close instead, the fee is 1%, or 2% within 7 calendar days.
The loan is for investment property you will not live in. The request form accepts every state marked Yes.
What else should you know before you ask?
What are the rates on fix and flip or private money loans?
Send the property and we price the fix and flip or private money file with you. The simple card on this site is transactional funding: 1% same-day and 2% within 7 calendar days.
Do you lend on homes people live in?
Brittco funds investment property. These are business-purpose loans on real estate you will not live in.