Loan-Products
Flipstar Lending is a full service private money lender. We handle multifamily, transactional, rehab to flip, rehab to keep, rental and small commercial financing options to our borrowers.
Questions?
Call: 888-804-8104
Email: support@flipstarlending.com
Visit: PNC Center
201 E. Fifth Street, Cincinnati, OH 45202
Single family
8.25%-11% APR, 1-5 points, 75-90% LTC, 2-5 days closing
Flipstar lending
Makes Bridge
Loans Easy
Fix and Flip Terms
Term
12 Months standard
18 month option case-by-case
Rehab/Construction Financing
Up to 100% of rehab budget
Maximum LTC (% of Purchase Price)
Up to 90% LTC
Maximum Loan-To-Value(Ltv)
Up to 75% ARLTV
When Do We Use Ltv Vs Ltc?
Generally, we use LTC on lopsided projects (where the purchase price is lower than rehab budget)
Recourse
Full Recourse Only
Loan Amount
$50K – $3.5MM
Loan Purpose
Rehab loan for non-owner occupied residential investment property
Borrower Type
Entity required
Property Types
Non-Owner Occupied:
Attached or detached SFR
2-4 unit properties
Townhomes
Warrantable Condos
Foreign Nationals
Not allowed from ineligible country list
Minimum Experience
NO prior experience required
Quick closing
We offer a streamlined, common-sense underwriting process that is light on paperwork and strong on efficiency. Reap the benefits of our finely tuned, tech-enabled table funding process for our core product, created by Flipstar Lending.
Wide box
We are aggressive on leverage (up to 90%/100% of purchase/rehab and 70% of after-repair value) with superficial lower/upper bounds and credit limits. From $50,000 light rehab loans in the middle of the country to multi million dollar luxurious fix and flips – we’ve funded them all.
Expert Loan Officers
Our Flipstar Lending Loan Officers understand real estate and will get your deal pipelines funded. They provide personalized service through a dedicated chat room staffed with other key decision-makers. You will never be without direct access to a knowledgeable subject matter expert.
Ground Up
Rates Starting at 10.99%*
Flipstar lending Makes Bridge
Loans Easy
Flipstar lending Ground Up Construction loans enable you to provide your borrowers with flexible and competitive terms on 1-4 unit homes
Ground Up Program
Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction Max 85% of total project costs LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
Maximum Loan To Arv
Up to 70%
Recourse
Full Recourse
Reserves/Escrows
Interest Reserve:
Minimum 1 month
Experience
Previous real estate experience required: 1-2 Ground ups
GCs if experience if permits tie to Ground ups
Guarantors with no experience permitted on a case by case basis
Loan Amount
Min: $50,000
Max: $3,500,000
Term Length
12 months, Up to 18 at Lender Discretion
Property Count
Min: 1
Max: 2
Permitted Property Types
Eligible:
Non-owner Occupied 1-4 unit residential
Townhomes
Condos
Ineligible:
Mixed-use properties
5+ unit multifamily properties
Condotels
Co-ops / TICs
Commercial Property
Log Homes
Properties Subject to Oil and/or Gas Leases
Operating Farms, Ranches, or Orchards
Vacation or Seasonal Rentals
Rural properties
Experienced Developer Program (3+ Similar Past Projects)
Maximum Loan To Cost
Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction Max 90% of total project costs LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
Maximum Loan To Arv
Up to 70%
Recourse
Full Recourse
Reserves/Escrows
Interest Reserve: Minimum 1 month
Experience
Previous real estate experience required: 3+ similar Ground-up builds + heavy rehabs with expansion. Professional deveopment / builder.
Guarantors with no experience permitted with experienced guarantor that meets the above experience criteria|
Loan Amount
Min: $50,000
Max: $3,500,000
Term Length
12 months, Up to 24 at Lender Discretion
Property Count
Min: 1, Max: 10
Permitted Property Types
Eligible: Non-owner Occupied 1-4 unit residential
Townhomes, Condos
Ineligible:
Mixed use properties
5+ unit multifamily properties, Condotels,
Co-ops / TICs
Commercial Property, Log Homes
Properties subject to Oil and/or Gas Leases, Operating Farms, Ranches, or Orchards
Vacation or Seasonal Rentals, Rural properties
Stabilized Bridge
Rates Starting at 9.25%*
Flipstar lending
Makes Bridge
Loans Easy
Flipstar lending new Stabilized Bridge provides flexible short term loans for your customer’s stabilized properties.
No DSCR
Max LTC
85% of purchase price + verified completed capex if property owned <6 months
Max LTV
700 FICO: 70% if property owned >6 months
660-699 FICO: 65% if property owned >6 months
Min DSCR
N/A
Min FICO
660
Purpose
To provide bridge financing on a property that was recently renovated or constructed and is currently/soon to be listed for sale
Loan Amount
Min: $75,000 Max: $1,500,000 / larger loans allowed at lender discretion
Term Length
12 Months, up to 18 at lender discretion
Property Types
Single Family/2-4 Unit/Townhomes/PUD/ Warrantable Condos
Property Condition
C2 or better
Collateral Restrictions
Property value within 90th percentile of market
No rural, exotic, or unique properties
DSCR Exit
Max LTC
85% of purchase price + verified completed capex if property owned <6 months
Max LTV
70% LTV
Min DSCR
1.10 Exit DSCR based on lower of in place rent and market rent
Min FICO
660
Purpose
To provide bridge financing on a property that is currently rented or soon to be rented, but is not yet ready for permanent financing.
Loan Amount
Min: $75,000
Max: $1,000,000 for SFR,$2,000,000 for 2-4 unit / larger loans allowed at lender discretion
Term Length
12 Months, up to 18 at lender discretion
Property Types
Single Family/2-4 Unit/Townhomes/PUD/ Warrantable Condos
Property Condition
C4 or better with no deferred maintenance
Collateral Restrictions
No rural, exotic, or unique properties
A New Lending Solution Developed for Today’s Market
Flipstar Lending quickly responded to the changing needs of your borrowers and launched our ‘mini-perm’ product Stabilized Bridge.
Flexible Lending
You and your borrowers can take advantage off the Flipstar Lending Stabilized Bridge loan option for rental properties across a range of situations including purchase, seasoned refinance, or non-seasoned refinance.
Wide Range of Properties
Flipstar lending offers a reliable funding source for your customers with single family rental homes, 2-4 units, townhomes, PUDs, and warrantable condos.
Single Property Rental
Rates Starting at 6.1%*
Flipstar lending
Makes Term
Loans Easy
Flipstar lending Single Property Rental loans provide you with a reliable funding source for your landlords against cash flowing 1-4 family houses.
Single Property Rental Terms
Term
30-year fixed, arm options available
Recourse
Full Recourse only
Loan Types
30-Year fixed rate mortgage (Fully Amortizing) 5/6, 7/6, 10/6 Hyrbid ARMs (Partial IO or Fully Amortizing)
Experience
not required
LOAN PURPOSE
Purchase, rate-term refinance, or cash-out of a single rental property
Minimum Fico
660
BORROWER TYPE
Entity required
INTEREST RATE
call for quote
PROPERTY TYPES|
Single Family Residences (SFR)
2-4 unit properties
Warrantable condos
Townhomes
PUD
VACANCY MAXIMUM
purchases only or leased within 30 days
RURAL PROPERTIES
not permitted
Foreign Nationals
not allowed from ineligible country list
Lease Requirements
Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
Unleased Units: 90% of Market Rent (Purchase Loans only)
Maximum Loan To Cost
If Owned < 3 months, 80% of Total Cost Basis
Minimum Loan Amount
$75k – $2MM
Maximum loan-to-value (ltv)
up to 80% on purchase and rate & term. Up to 75% on cash-out
Property Or Unit Acquisition Minimum
1 property per loan
Minimum Debt Service Coverage Ratio (Gross Rent/Pitia)
1.10x
Seasoning Requirement (To use value vs. Cost basis)
180 days
Quick and easy
Generate term sheets fast with an automated loan pricer.
Borrower-friendly loan options
Fixed rate and hybrid ARMs, up to 10-year IO periods, easy step down prepayment penalty options.
Flexible rates and terms
With common-sense underwriting and concierge service from our team of experts, you will always offer your clients the loan that works best for them.
Rental Portfolios
Rates Starting at 6.1%*
Flipstar lending
Makes Portfolio
Loans Easy
Flipstar lending Rental Portfolio loans provide you with a reliable funding source for your landlords against a collection of 1-4 family houses.
Rental Portfolios Terms
Term
30-Year term, Fixed Rate Mortgage (Fully Amortizing) 5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)
LEASE REQUIREMENTS
Minimum Occupancy Rate of 90% by Unit Count Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
Unleased Units: 90% of Market Rent (Purchase Loans only)
Recourse
Full Recourse with Pledge of Equity of Borrowing Entity
LOAN PURPOSE
Blanket loan for purchase, rate-term refinance,
or cash-out of a portfolio of rental properties
Minimum Fico
680
BORROWER TYPE
Entity required
INTEREST RATE
call for quote
PROPERTY TYPES|
Non-Owner Occupied:
Single Family Residences (SFR)
2-4 unit properties
Warrantable condos
Townhomes
PUD
MINIMUM DEBT SERVICE COVERAGE RATIO (NET CASH FLOW/DEBT SERVICE)
1.20x
Vacancy Minimum
Min. 90% occupancy rate by unit count
Rural Properties
Not permitted
Foreign Nationals
Eligible at maximum 65% LTV
Loan Amount
Minimum Property Value: $100K
Maximum Loan Amount: $2MM
Property Restrictions
No vacation or seasonal rentals
Maximum Loan-To-Value (Ltv)
Up to 80% on purchase and refi. Up to 75% on cash-out
Seasoning Requirement (To Use Value Vs. Cost Basis)
180 days
The widest range of terms and options
5, 10, and 30-year term, fixed rate or hybrid ARMs, partial IO available, non-recourse.
Ultra competitive rates and leverage
Borrower-friendly rates and full leverage available 90 days post purchase with no further rent roll seasoning required.
Flexible funding for growing portfolios
By funding portfolios from a minimum $100K property value, up to $2MM, Flipstar Lending lets you accommodate your landlord client’s real estate needs for their growing portfolios.
Get Pre-Approved Today
Complete our short pre-approval form and get a personal, customized pre-approval letter instantly. Each submission is authorized for up to $500,000 and is good for 60 days.