Never Lose a Deal, Use a MoFin Bridge Loan For Your Next Fix and Flip or Rehab-to-Hold
Close your loan at up to 90% of purchase price and 100% of rehab costs funded within weeks of applying. Don't need rehab funds? Want a cash-out loan with no prepayment penalty? Building a house from the ground up? Closed in cash but need money to renovate? We can do all that too.
Fix & Flip loans
We're a solution-oriented team, with fast closing times, and competitive terms for real estate investors looking to fix and flip. Contact us today and see why the majority of our fix & flip loans are made to repeat investors:
- Funding for up to 90% of purchase price and 100% of rehab budget
- No prepayment penalty
- Rates from 10.25%-12.75% based on experience & credit
- No hidden fees at closing; closing cost estimate provided upfront
- Fast and easy draw process
- Streamlined refinance process into a 30-year fixed or ARM rental loan for rehab-to-rent projects
Not looking to finance rehab/renovation costs? We offer short-term interest-only loans for both quick-close purchases and cash-out refinances with no prepayment penalty to bridge your project to your next move, either a sale or permanent financing.
- Fastest closing time: as little as 5 days.
- LTV Limits:
- Purchase: 80%
- Refinance: 75% for rate/term and 70% for cash-out
- 12 month term, no prepayment penalty
- Rates from 10.25%-12.75%
- Cash-out refinance with as little as 90 days seasoning
Ground-up construction loans
Funding for land acquisition and 100% of your construction budget.
- Experience Required! Minimum of one ground-up project, or three rehab projects (where the rehab was 75% or more of the purchase price), completed in the last 36 months
- LTV Limits:
- 50% - 60% of land purchase (or as-is value if ownership > 12 months)
- 100% of construction
- 80% - 85% of total project cost (land + construction)
- 65% - 70% of the as-built value
- No prepayment penalty
- Dutch and Non-Dutch (interest only on what has been disbursed)
Get a Bridge Loan
Submit your loan request and get a term sheet within one business day.
BRIDGE LOAN FAQ’S
Do I need experience?
No. We can lend to first investors with a 680+ credit score. To be considered in our highest experience tier, you will need to demonstrate 3 completed flips or rehab & hold deals in the last 36 months.
What is your minimum credit score requirement?
650. If your score is below that, we may still be able to lend to you with compensating or mitigating factors present, like experience, a higher down-payment, liquidity, etc.
How much down do you require?
It depends on the deal and the real estate investor, it can be as little as 10% for flip/rehab loans and 20% for purchases with no rehab component to the loan. Ground-up differs. Please reach out to us at email@example.com for a quote.
How quickly can you close?
In 1-3 weeks. It’s best to check in with us and we can let you know.
What states do you lend in?
MoFin currently lends in Alabama, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin and Wyoming. Please reach out to us at firstname.lastname@example.org if you have any questions.
What are the costs associated with your bridge loan?
We are fully transparent and provide you this info before you pay any sort of start up fee, and before we run your credit. After your deal has been pre-qualified by a MoFin team member, you'll receive a Term Sheet, with a closing cost estimate that lays out the terms of your loan, the monthly payment, and your closing costs. We charge a $299 app/processing fee to move your loan into underwriting. During underwriting, you pay for a full appraisal. At closing, currently, we charge between 2% - 2.5% of the loan amount as our origination fee and a $495 due diligence fee. We do not have any other fees. The other costs associated with our bridge loans are the standard costs for any loan, such as title/recording costs and taxes, and you can pick the title company we work with.
What are your rates?
Rates range from 10.25% - 12.75% depending on the scenario and the investor's experience and credit score.
What is your minimum loan amount?
$150,000 but deals between $100,000 - $149,000 may be considered to experienced borrowers with 2 or more flips or rehab and holds in the last 36 months.
Can you roll in closing costs or the monthly payments?
No, we require that you make monthly payments of interest only until your loan is paid off. The origination fee is paid when your loan closes. For a cash-out refinance loan, closing costs are netted out of the proceeds you receive at closing.
Can I do the first draw at closing?
Rehab funds are held-back at closing and released to you in draws as work is completed. We do not provide a draw at closing.
Can I use a private lender or investor for the down-payment?
The borrower must have “skin in the game,” and is required to provide the down-payment funds from their own business or personal accounts. You can have a partner to provide capital, but they would need to be part of the loan in some capacity (either as a member of the borrowing entity or as a personal guarantor).