Why You Should Use Walnut Street Finance
Speed: your acquisition loan is reviewed and can be approved within 5 minutes and can close as quickly as 5 days
Minimal Up-front Capital Required: we finance 100% of your closing costs and points and set up an interest reserve so you’re not making interest payments for the first 6 months
Flexible Loan Amounts: we lend anywhere from $100K to $2.5 million
Easy: minimal paperwork and easy application process
Interest Reserves: we hold construction and interest reserves so you’re not making payments on your project for the first 6 months
Hands-on: with over 30 years of combined real estate experience, we’re not just lenders but can also help you throughout your project
Click here to check out our loan terms
Buying, renovating, and reselling homes can be a great source of income. However, it takes sufficient capital to fix and flip a home. You need cash to purchase and renovate the property. You need cash to pay for all the taxes, utilities, insurance, and interest accrued from the time of purchase, through renovations, and up until the day you sell or rent it.
A fix and flip loan, or sometimes called a rehab loan, can help with the purchase, refinancing or renovation of a real estate investment property. The borrower receives payment at closing and the remainder of the loan is paid out in installments as the renovations are completed. In most cases, lenders will use the property as collateral for the loan, and underwrite the project by comparing the size of the loan to the value of the property after repair (i.e, “After Repair Value” or “ARV”).
A hard money lender, on the other hand, has expertise with these types of projects and specialize in funding fix and flip loans - quickly, with flexibility, and dependability. Great deals go quickly! Choose a hard money lender who understands your project, is quick, flexible and dependable - choose Walnut Street Finance.
