Hard Money Loans (Fix & Flips, Rentals)
Real Estate Investors, We Can Help.
At Approved Financial Solutions LLC, we assist with hard money private investor loans to qualified investors looking to acquire residential and/or commercial properties for the purposes of fix and flip or rental properties.
By using money from private investors, we aren't bound by rigid banking guidelines and can offer you some of the most flexible loan terms in the industry depending on the deal, your investor profile, background, and experience. Other lenders take a one size fits all approach to making loans - but we don't. We carefully evaluate each and every deal and offer competitive terms when the deal makes sense. From Residential Fix and Flip, Rental, Line of Credit, Refinance or high-end Commercial, it's our job to get you the money to do the deal.
We can structure loans in most states. Terms will vary from market to market but if you have a good deal and a decent background we can get your deal closed.
Steps To Get Funded!
Guarantor & Property
We will need information on both the Guarantor and the Property. Please complete our Hard Money Application.
Application Is Reviewed
Once your application is reviewed ( determined to be a Good Deal) and all information received, you will be emailed a Loan Cost Estimate. If you would like to move forward, the next step would be to set up an Appraisal.
Must Sign
You will receive a Cost Estimate to sign. Once signed your Appraisal will be ordered, Additional documentation will be needed to finalize the loan
Final Step
UNDERWRITING AND FUNDING!
CLOSE IN 15-20 days!
Hard Money Loans
Reliable
Borrow up to $2 million;
one-time qualification
Fast Close
Streamlined process
allows us to close
your loan in as few as
15 business days
Easy
To submit an application,
just send us a completed
PSA and SOW for the
property
Transparent
Final terms delivered
within 3 business day of
full submission
Benefits
Offered
- Fix and Flip
- Rental Properties (must be in livable condition)
- Refinance
Max Leverage
- 80% of purchase price
- 70% of after repair value (ARV) w/o holdback
- 100% of rehab costs (via holdback)
Qualification
- 0-4 completed flips in last 2 years
- No bankruptcy filing within the last 24 months
- No felony convictions within the last 7 years
- No outstanding mortgage delinquency of 90 days or more
- Personal Guarantee required
- Minimum FICO of 660 (Fix & Flip) 700 (Rental Property)
- No bank statements or income verification required
- Must have Business (Entity) Name.
Interest Rates
- Rates start at 7.95%, vary by state
Premium Service
- Dedicated team
- No arduous forms to complete
- Term sheet in 1 business day
- Close in 7 business days
Eligible Members
- Corporations
- General Partnerships
- Limited Partnerships
- Limited Liability Companies
- Revocable Trusts
- Individuals
Loan Terms
- Purchase and refinance
- Minimum loan amount: $50,000 (Rentals), $100K (Fix and Flips)
- Maximum loan amount: $600,000 (2 million premium members)
- 12-month term, 18-month term, and 24-month term no prepayment penalty
Eligible Properties
- SFRs
- 2-4plex
- Condos
- PUDs
Membership Documentation
(required once every 12 months)
- Signed credit authorization form
- Schedule of Real Estate Owned / List of Past Projects
- Signed spousal consent (if guarantor is married/separated and
- living in a community property state)
- Entity documents
- Voided check (for ACH)
- Questionnaire, where applicable
Property Documentation
(required for each loan)
- Executed purchase and sale agreement
- Scope of work
- Hazard insurance contact information
- Title / Escrow agent contact information
- Property access instructions
- Property Pictures: Exterior pictures required; Interior pictures recommended.
Note: without interior pictures LendingHome assumes C5/C6 condition.
All loans are available in AL, AZ, AR, CA, CO, CT, FL, GA, IL, IN, KS, KY, MA, MD, MI, MN, MO, NC, NJ, NV, NY, OH, OK, OR, PA, SC, TN, TX, VA, WA, WI, and WV, as well as Washington D.C.