Loans
"Hard Money" Loan Details
Looking to fund your next real estate investment? FUND YOUR NEXT FLIP (FYNF) specializes in providing fast, reliable hard money loans tailored for Rehabbers, Landlords, and Wholesalers in the Greater St. Louis Area. With competitive rates, flexible terms, and expert support, we make securing funding simple and stress-free.
LOAN INFORMATION
LOAN TERMS
- 6 Month Business Loan
- Interest Only Payments
- 13% Annualized Interest Rate
- Monthly Extensions (Optional)
- Mortgagee's Title Policy Required
- First lien position only
- Personal Guarantee signed by all borrowers
LOAN FEES
- Origination Fee: 3 points (3.00%), varies by deal and location.
- Loan Processing Fee: $750
- Credit Report Fee: $50 ($100 for joint applications)
- Flood Certificate Fee: $20
- Wire Fee: $75
- Renovation Disbursement Fee: $750 to (If Applicable).
- All financed renovation funds are managed by Continental Title Disbursing.
APPRAISAL
- Appraisal (if Applicable), paid by Borrower ($500)
- Appraisals are based on After-Repaired Value (ARV)
- All Appraisals must be ordered by FUND YOUR NEXT FLIP
BORROWER CRITERIA
- Minimum credit score of 680
- At Least $20,000 in cash reserves (per project), seasoned for 3+ months.
- Recently filed tax returns required.
- No recent bankruptcies or foreclosures (subject to FYNF review).
- Valid Missouri-based LLC/entity paperwork is required.
PROPERTY CRITERIA
- Borrower must be pre-approved before submitting a property for evaluation.
- Properties must be located in the St. Louis metro area (Missouri only; no lending in Illinois).
- Primary focus is on single-family homes, but 2-4 family units and townhomes/condos may be considered.
- Funding is available for purchase and/or rehab if the deal aligns with our criteria.
- Loan amounts for purchase and rehab are based on a conservative ARV (After Repair Value):
- Up to 75% of ARV for combined purchase and rehab.
- Purchase loan formula: (ARV x 75%) - repair costs = maximum purchase loan amount.
INSURANCE
- Borrower must provide a fully paid 1-month insurance policy at closing.
- Insurance agent must submit a certificate or proof of insurance, including an invoice, to FYNF before closing.
- Policy must include dwelling coverage with vacancy and vandalism riders.
- Replacement cost coverage is required.
- Builder's risk policy is recommended for rehabs but not mandatory.
- Blanket policies must show the new property and confirm active coverage.
- FYNF must be listed as loss payee and additional insured.
