Fix & Flip Loans
If you are a seasoned real estate investor or just getting started, we can help. We offer three programs in the Denver metro area.
90/90 Flip Program:
We fund up to 90% of the purchase price and 90% of the fix-up cost. The borrower will need to provide two years tax returns and three months bank statements with a budget for the project. These loans, have the following rate and terms:
Interest rate: 9.75% - 10.50%*
Fees: Three origination points plus $500 processing fee
Loan amounts: $150,000 - $700,000
Term: Six months
The next program is for the contractor that his own fix-up budget in the bank!
Loan-To-Value 100% or 75% After Repair Value = No money down
Fees: 4-5 points
Rate: 11.50% - 12.50%*
Loan amount: $50,000 - $250,000
Term: Four months
Buyer brings in the money for the fix up cost.
We put up the money for the purchase and the closing cost, buyer brings in the fix-up cost.
*This is the note rate and not the Annual percentage rate. These are for business use only on commercial loans.
Hard Money Loans
Tri-State Mortgage specializes in hard money loans in Colorado. We has several different programs to suit the borrower’s needs. These programs range from six month bridge loans to 30 year home loans.
Apartments, office buildings, shopping centers, Auto dealerships are just some of the types of loans we have funded in the past. We are now funding land loans and development projects for experienced developers.
If you have good income and credit we can broker to conventional lenders. If you are self-employed and have a few dings on your credit, we offer bank statement loans to 85% LTV. No need for tax returns or W-2 statements!
We Save The Day With Private Money
No need for tax returns, pay stubs or Appraisals! We look more at the property and close in 2-5 business days.