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Updated about 1 year ago on . Most recent reply

User Stats

9
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0
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Omar Ferrer
  • Investor
  • Tennessee
0
Votes |
9
Posts

what lender is great with a first time fix-flip

Omar Ferrer
  • Investor
  • Tennessee
Posted

Greetings everyone, 

I'm looking for lenders who can work with a first timer of fix and flip. Can anyone suggest me one? 

thank you 

Most Popular Reply

User Stats

484
Posts
244
Votes
AJ Exner
  • Lender
  • Springfield, MO
244
Votes |
484
Posts
AJ Exner
  • Lender
  • Springfield, MO
Replied

Hey @Omar Ferrer,

For a first timer the biggest differentiator is going to be your FICO. Most lenders will be around 80% Purchase and 100% of rehab if the deal works out, but if you can show them a good FICO then you might be able to creep the initial loan amount up a bit more assuming the loan amount meets the criteria that they want.

  • AJ Exner
  • [email protected]
  • 417-427-2612
  • Loading replies...