$340K Fix & Flip Loan
- 12 Month Terms
- Up to 75% LTV
The client needed a quick loan solution for a fix and flip opportunity. The LA-based town home, property wasn’t distressed but needed some renovations and clean up to make it ready for the market. Insignia Capital provided a $340,000 loan with 12 Month Terms, allowing the borrower a period of 12 months (or one year) to complete the fix and flip project, sell the property, and repay the loan.
“Up to 75% LTV” stands for “Loan-to-Value” ratio. LTV is a financial metric used by lenders to assess the risk associated with a loan. It represents the percentage of the property’s value that the lender is willing to finance. In this case, Insignia Capital was willing to provide a loan up to 75% of the property’s appraised value. For example, if the property’s appraised value is $500,000, the lender would be willing to lend up to 75% of that value, which would be $375,000.
It’s important to note that the terms and conditions of a fix and flip loan can vary depending on the lender and the specific circumstances of the borrower. These loans often have higher interest rates and fees compared to traditional mortgages due to the short-term nature and higher risk involved in fix and flip projects. Please contact Insignia Capital for our latest rates and programs.