Finding the right commercial real estate financing in Philadelphia, PA can be challenging for local investors and property developers. The fix and flip market is growing, and is possibly the most accessible entry point for anyone entering the commercial real estate market in Philadelphia. Local commercial real estate investors and property developers need financing to cover everything from acquisitions to renovations and even staging costs for putting properties on the market. Everything involved in a fix and flip project is time sensitive, and runs contrary to the pace of traditional lending channels with their prohibitively high requirements, long processing times, red tape, and arbitrary loan board decisions. Philadelphia house flippers need adequate and efficient financing, which is why Approved Business Lending offers special fix and flip programs.
Fix and Flip Loans for Philadelphia Properties
Whether you are taking on a modest single family home or a large structure, Approved Business Lending offers fix and flip loans for Philadelphia commercial real estate investors. Our fix and flip loans offer a number of benefits to Philadelphia CRE investors and property developers, such as:
- Loan amounts ranging from $60,000 up to $10 million
- Up to 85 percent LTV for property acquisitions
- Up to 100 percent LTV for rehab
- Up to 75 percent ARV
- Interest rates ranging from 8.5 percent to 12.99 percent
- No prepayment penalties
- Terms up to 24 months
- Fast closings in as little as 10 to 17 days
- Ideal financing for town homes, single, and multifamily dwellings
- Acquisition financing available
Fix and Flip Lines of Credit in Philadelphia, PA
Approved Business Lending also offers fix and flip lines of credit in Philadelphia specifically for acquisitions, renovations, and conversions on both single family and multifamily properties. Our fix and flip lines of credit for Philadelphia properties feature:
- Lines of credit ranging from $500,000 up to $50 million
- Up to 90 percent LTV on acquisitions
- Up to 95 percent financing for rehab
- Both revolving and non-revolving options are available
- Terms ranging from 12 months up to 24 months
- Fixed interest rates as low as 7.49 percent
- Fast closings in as little as 18 days
Improving Communities One Property at a Time
At Approved Business Lending, we see the value and purpose of house flippers. Breathing new life into properties improves the value of entire neighborhoods in Philadelphia, and attracts new homeowners who in-turn boost the local economy and add a personal touch to the community. We provide financing to local house flippers because we believe in uplifting properties and neighborhoods throughout Philadelphia, PA.
Contact Our Offices Today
Whether you are taking on your first house flipping project, or if you are growing your enterprise with multiple properties on deck, Approved Business Lending has the fast and accessible financing you need to see your fix and flip projects through to completion without any delays. Contact our offices today to learn more.
Fix-and-Flip Design Trends for 2019
There are a number of fix-and-flip design trends which are shaping up for 2019, and which figure to inject a huge amount of money into the U.S. economy. Spending on remodeling projects is expected to grow by something like $350 billion in the third quarter of 2019, making it an industry well worth watching. Here […]
Fix and Flip Guidelines for New Property Investors
After strong economic expansion last year, more people are looking to purchase homes in 2019. For commercial real estate investors, this means plenty of opportunities to take advantage of fix and flip projects to generate revenue. Fix and Flip Projects for New CRE Investors Fix and flip projects are the perfect entry point for people […]
How 504 SBA Loans Can Help You Avoid Balloon Payments with Fixed Rates
Have you noticed that interest rates are on the rise? The trend is expected to continue at least through 2019. For this reason, it is more important than ever to look for fixed rates that are below market and to understand how 504 SBA loans can help you do it. Why Business Owners Are Worried […]
