Massachusetts Fix and Flip Lenders
Are you flipping residential properties in Massachusetts? On this page you'll find a list of fix and flip lenders throughout Massachusetts. Fix & flip lending is only for residential properties with 1-4 units. We have a separate page for lenders that offer rehab/value-add financing for other property types. The maximum loan-to-after repair value (LTARV) for most lenders in Massachusetts is 70%. You typically need some cash for the purchase (15%-20%) and some cash reserves.Searching...
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Nationwide Mortgage
Outstanding Service for Investment Property Bridge, Rehab, Rental, and Construction Loans
Funded Fix & Flip Loans in Massachusetts
Easy Street Capital, a direct private real estate lender, funded a $230,400 1st lien position fix and flip loan for a condominium in Halifax, MA. We funded 80% of the $36,000 renovation budget and $252,000 purchase price, while the Borrower contributed 20% cash respectively at closing. The after-repair value was estimated at $340,000 so our loan-to-value was 70%. The Borrower will be doing a cosmetic rehab of this 2-bedroom 1.5-bath condominium with some servicing of the utility systems, new doors, trim, drywall, paint, flooring, appliances, and an updated kitchen/bathroom. The exterior will be getting new doors, decking, and a final clean. Once the renovation has been completed, the Borrower will put it on the market for sale. The condo unit is approximately 1,060 square feet. The Borrower had good credit. The interest rate was 10.9% and we charged 3% origination points. The loan term was set at 6 months. This fix and flip loan was funded in January 2024.
RCN Capital, a national direct private lender, funded a $268,520 fix and flip loan for a triplex in Halifax, MA. The Borrower is a repeat and experienced investor looking to take on another project under contract to acquire the subject property for $151,200 with intentions of spending $140,000 on renovations before listing the property for sale. We funded 100% of the renovation costs. The subject was appraised for $160,000 As-Is and an after-repair value (ARV) of $410,000 evidenced an ROI of over 38.64%. The Sponsor had decent credit with a mid score of 701 and bank statements that reflected sufficient assets to cover our liquidity requirement. The loan was structured and priced in accordance with the guidelines with an initial advance of 85.00% LTC & 80.30% LTV. They contributed 20% to the purchase at closing. The total loan amount was 65.50% of ARV. The subject property was in fair condition. The loan term was set at 12 months. The interest rate was 9.99%. We charged 2% origination points. This SFR fix and flip loan was funded in November 2022.