Castle Commercial Mortgage: Fix-N-Flip Loans

Our lending requirements:

  • Colorado real property as collateral (except for 1031 cash out loans and flash money loans)
  • Your credit report
  • Your personal financial statement
  • Property casualty insurance
  • An appraisal of the collateral performed by an appraiser of our choosing
  • A title insurance closing preferably by our title company,
  • A first mortgage position (2nd mortgage will be considered)
  • A plan for profitability for the project

  • We will often lend 100% of the purchase price if you have the credit history, personal financial statement and plan of action to support the loan.

    Our borrowers are all driven by profit. Our typical borrower is an individual real estate investor. The way they make money is by finding an imperfection in the real estate market. They scour the market looking for the deal.

    The deal takes several shapes: 1) The current owner fails to recognize its real value and is willing to sell it under market.
    2) The property needs work for it to reach its true value and the current Investor/member is unwilling or unable to do the work.
    3) The owner has been transferred and his company wants to unload the property quickly because they have no ability to manage the property.
    4) The borrower can change the use of the property and increase the value. This can include rezoning.
    5) The owner is in personal or financial trouble and needs fast cash.
    6) The buyer has been approved for a loan but needs to close before his traditional lender will act.

    Because the real estate market is competitive these "targets of opportunity" don't last long.

    Our standard terms are: 4% loan origination fee; 14% annualized interest rate, balloon in 6 months.
    We do not make loans to buy or refinance principal residences.

    Please contact us; we can close in as little as 48 hours.

    Click here to send in an online application.

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