Quickline Capital: Financing for Flipping Houses
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This option funds 90% of the purchase price PLUS 100% or more of your expected rehab costs. The 90% - 100% of the rehab costs is put in an escrow account that you will draw from during the rehab. In many cases - You will only pay interest on the amounts you actually draw
Fast closing – Normally 2-3 weeks from when all documents are submitted
Absolutely no upfront fees – The only cash out of pocket before closing will be for an appraisal (that you pay the appraiser directly).
Available to first time flippers
600 FICO Minimum but scores under 630 get slightly less than 90%.
Prior Bankruptcy OK, if older than 3 years.
Easy approval process (takes 1 day and can be done without running your credit)
Must borrow through an LLC or Company (if you don’t have one you can set one up rather quickly and for very little money).
1-4 family properties
No owner occupied
Rates between 8.99 and 11.99
Interest only payments during loan
13 Month loan term with NO PREPAYMENT costs or penalties **This is one of the best feature of this program**
Closing costs vary widely based on experience, credit, and the property being financed.