Ohio Fix and Flip Lenders
Are you flipping residential properties in Ohio? On this page you'll find a list of fix and flip lenders throughout the state. 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 for most lenders in Ohio is 70%. You typically need some cash for the purchase (10%-20%) and some cash reserves.Searching...
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Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Funded Fix & Flip Loans in Ohio
RCN Capital, a national direct private lender, funded an $84,290 1st lien position fix and flip loan for a single-family residence in Hamilton, OH. We funded 63% of the $55,000 purchase price and 100% of the $44,165 renovation budget, while the Borrower contributed 37% cash to the purchase at closing. The Borrowers were experienced investors. An after-repair value of $134,000 evidenced a solid ROI for the Borrower of just over 32%. They had a mid-score of 718/664 and bank statements that reflected sufficient assets. The initial advance was 73.00% LTC & 73.00% LTV. The total loan amount was 62.90% of the ARV. The lower purchase price was offset by charging a full balance interest on the advance and rehab budget rather than just the initial advance. The subject property was in good condition. It was approximately 1,052 square feet set in a 2,940-square-foot lot. They plan to sell the property upon completion of the light rehab. The interest rate was 12.09%. We charged 2% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in January 2023.