"Jack Blythe is a pleasure working with. Jack ensured that I was updated throughout the closing of my deal. His thoroughness, professionalism, communication and attention to detail are exemplary and gave me assurances for the success of the closing of my investment property and indeed it was a success. If I can give more than 5 stars, I would."
Shaolin Preacher
Investor
Fix to Rent Loans
Our single-family fix-to-rent loan is designed for investors seeking maximum leverage for a rental. PIL will loan up to 100% of hard cost (purchase + renovation) with a limit of 70% of appraised ARV. We can increase proceeds to 75% when the investor provides a pre-approval letter from a conventional mortgage broker. Loan term is six (6) months with three (3) month extensions available for a 1% fee. Loans can be paid off at any time without additional fees or penalties.
| Rates & Terms | |||
|---|---|---|---|
| Loan Amount | Up to 100% of Cost (Purchase + Renovation) or 70% of ARV | ||
| Origination Fee | 3.5% of loan amount (payable at closing) | ||
| Interest Rate | 12.9% interest-only monthly payments | ||
| Pre-Payment Penalty | None | ||
| Term | 6-months (1% fee per 3-month extension) | ||
| Liquity Requirements | 20% of the loan amount | ||
| Qualifications & Requirements | Lender Specific Closing Costs |
|---|---|
| 620+ Credit Score | $450 Processing Fee |
| 3 Months Bank/Investment Statements | $350 Administration Fee |
| Liquidity = 20% Loan Amount on No-Cashflow Assets | $50 Wire/Courier Fee |
| Two Years Tax Returns | |
| Completed PIL Loan Application |