Fund up to 100% of Purchase and Rehab - Simple70 Fix-And-Flip Loan

simple70 loan

fund up to 100% of Total cost with the simple70 loan.

Minimize your cash out of pocket on your next deal with our highest leverage fix-and-flip loan. Get pre-approved now so you’re ready to strike on your next opportunity.

Term | 12 months with lender option to extend
Rate | 11.99%
Points due at closing | 3.0%
Loan to value | Funding up to 100% of total cost, not to exceed 70% of ARV
Credit score | 680+ FICO score
Experience | Previous investment properties required for maximum leverage
Income Verification | None
Loan amounts | Starting at $100K

FAQs

Does the appraiser need entry access to the property?

No, not at the time of closing on the purchase. Before closing, we will do a drive-by, as-is appraisal. If you choose to add the rehab to your loan, we will require an interior subject-to appraisal at that time.

How long do I have to decide if I want to add my rehab?

You have up to 120 days to take the rehab — fees will apply.

What is the maximum amount I can have for rehab?

The rehab portion can not exceed 100% of the purchase price.

How much experience in flipping do I need to qualify?

You have to have owned 3 investment properties in the past 10 years.

“One of the biggest challenges our borrowers come up against is time. With so many unknown variables, it’s hard to plan a solid rehab budget before closing. With our new Option80 loan this isn’t an issue. Investors can close fast and then take their time after closing to get contractor bids, plan their rehab and apply for permits before adding the rehab to their loan. We hope this added flexibility helps our customers achieve even more success.“

Magin Mason

Vice President, Sherman Bridge Lending

HOW OUR FUNDING PROCESS WORKS

When you find a good deal, you need to move fast. And you need a lender you can count on. We pride ourselves on our ability to consistently deliver on time and under pressure because that’s when it matters most.

Get Pre-Approved

Apply online and one of our loan officers will get in touch to help you get pre-approved and provide a proof of funds letter should you need one.

Submit Your Deal

After you’ve found your deal, your loan officer will gather your documentation and guide you through the underwriting and closing process.

Flip Your Property

Rehab your property and resell within 12 months.

See what our customers have to say

"At Sherman Bridge Lending, it’s possible to go to the moon and back in three days, like a Cosmonaut. My loan got approved on the same day and we did close in 3 business days! Their advice, candor, helpfulness, and willingness to do what it took to secure me the best possible outcome was incredible.”

“We have used Sherman Bridge several times for our fix and flip needs. They are right there and totally on it when I call in a crunch needing money fast! We will stay with Sherman Bridge because of their prompt and get it done service.”

“We contacted Sherman bridge with a very short timeframe to be able to close and they helped us zip through the process with ease, helping us figure out how to overcome obstacles throughout the way to assure we’d get the best deal possible without wasting time nor resources.”

Get pre-qualified now so you’re ready for your next deal. Fill out the form below to get started.

Property State:

What type of loan are you looking for? Fix and Flip Rental Purchase / Rental Refinance

Thank you for reaching out!
One of our loan consultants will be in touch shortly.

In the meantime, check out our blog to see realistically how long it takes to flip a house or check out our rehab checklist & calculator.

Read the Blog

Call us now at (866) 376-4876

Get pre-approved for our special anniversary rate. Fill out the form below to get started.