Flip Finance
204 N Clay Ave, Suite A
Kirkwood, MO 63122
Are the owner of this business? Claim this listing.
-
About Flip Finance
Flip Finance is a Kirkwood, MO based hard money lender. They offer loans throughout St Louis County, Saint Charles County, and Jefferson County. They offer fix-and-flip hard money loans, loans for rental properties, and hard money loans for commercial properties. Their loan parameters are flexible, including rates ranging from 15% and terms up to 4 months. The focus of their lending is on single family residences, multi family, and apartments.
Visit Website
Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family, Apartment
Areas Served: St Louis County, Saint Charles County, Jefferson County
-
Lending Guidelines for Flip Finance
Below are the general loan guidelines published on the Flip Finance website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: N/A
Available Rates: 15%
Typical Terms: 4 months
Points Charged: 2% - 4%
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/AFix and Flip Loans
Loan Amounts: N/A
Available Rates: 15%
Typical Terms: 4 months
Points Charged: 2% - 4%
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: N/A
Available Rates: 15%
Typical Terms: 4 months
Points Charged: 2% - 4%
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Flip Finance.
Loan Example 1
Flip Finance makes a fix-and-flip loan to Constance for a rehab project in St Charles, MO, on a property that is listed for $310,000. The terms of the note include a 70% loan-to-value (LTV), so she must bring 30% of the price as cash to closing, which makes the principle loan amount $217,000. The loan also consists of the following features: 1) a 18 month length, 2) a 10% interest only note, and 3) a one percent origination fee.
Constance will need to bring $93,000 to the closing (30% on the 70% loan-to-value), plus she will have to pay the $2,170 origination fee. Once the loan is closed and Constance takes on the project, she will have to begin making monthly payments of $1,808 to Flip Finance ($217,000 principle x 10% / 12 months). If Constance sells the house for $372,000 after 18 months, she would realize a total profit of $27,280 after deducting the original principle of $217,000, the cash paid at closing of $93,000, the origination fee of $2,170, and the total interest payments of $32,550. This gross profit does not include building costs.
Loan Example 2
Flip Finance makes a fix and flip loan to Jamie for a remodeling project in St Charles, MO. The loan dictates the following:
$170,000 purchase price
70% loan to value (LTV)
12 month term
11% rate of interest
5% origination feeAssuming a $246,500 sales price after the 12 month term, the outcome for the deal would look like the following:
$246,500 sales price
- $119,000 principle (70% LTV)
- $51,000 down payment (30% on 70% LTV)
- $5,950 origination points (5% of the $119,000 principle)
- $13,090 total interest paid (12 months x 11% interest)
-----------------------
= $57,460 gross profit (doesn't include taxes or renovation costs) -
No Reviews Yet
Flip Finance currently has no reviews. To add a review now, click the link below:
Your Information is Processing