06/04/2021
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Fix & Flip (purchase or refinance with a hold-back required)
Standard Rehab: Eligible Budget ≤ 50% of the Total Costs (no structural work)
Extensive Rehab1: Eligible Budget > 50% Total Costs (structural work allowed)
Fund Control
Required2 All Transactions
Eligible
Properties Attached or Detached SFR, 2-4 Unit, PUD, Condo, Mixed-Use, and Multi-Family
Occupancy Non-owner occupied, business purpose only
Minimum Loan
Amount3 $50K
Maximum Loan
Amount3 $3MM4
Loan Term
12 months standard
18 month option available, subject to loan level pricing adjustment
Maximum
Leverage
0-2 Experience
Standard Rehab
85% LTC | 70% ARV LTV
Extensive Rehab1
80% LTC | 70% ARV LTV
3+ Experience
Standard Rehab
90% LTC | 75% ARV LTV
Extensive Rehab1
85% LTC | 70% ARV LTV
5+ Experience
Standard Rehab
(purchase transaction only,
requires minimum 10% down)
95% LTC | 75% ARV LTV
Initial disbursement limited
up to a max of 90% LTC
100% of rehab/budget must be financed.
Fix & Flip Loan Requirements
1 FACo Underwriter will determine the Extensive Rehab designation based upon review of the budget and project scope. Projects with > 50% may be classified as Rehab
South Wind Financial Inc. provides Mortgage Broker Services to Massachusetts, Rhode Island, Connecticut, New Hampshire, Florida, Nevada, California, Tennessee,
