Fix & Flip/ Rent Program
EMx Lending offers flexible bridge loans for real estate investors looking to finance fix and flip projects. This program provides loans from $50,000 up to $3,500,000 for non-owner-occupied 1-4 unit residential properties, including single-family homes, multifamily units, condos, townhomes, and PUDs.
Rates: Starting at 10.99% (based on borrower qualifications)
Max LTC: Up to 90% of purchase & 100% of rehab
Min FICO: 600 required for eligibility
Loan Amounts: From $50,000 to $3,500,000
Loan Term: 12 months. 18-24 months available on expansion, addition, and conversion project types.
Reserve Requirements: Min net worth= 10% of loan amount.
• 600-620 FICO: 12 months IR
• 620-640 FICO: 9 months IR
• 640-660 FICO: 6 months IR
• 660-680 FICO: 3 months IR
Prepayment Penalties: No PPP
Exit Test:
Min profit for Flips: Min ROI= 30%
Min DSCR for Fix & Rent: 1.1
State Restrictions: Not available in MN, ND, OR, SD, UT, and VT
Ground Up Program
EMx Lending offers a Ground Up Construction program tailored for experienced developers with a track record of 3+ similar projects. This program provides flexible financing for non-owner-occupied 1-4 unit properties, townhomes, and condos.
Rates: Starting at 8% (based on borrower qualifications)
Max LTV: Up to 75% of land value/purchase price and 100% of construction costs
Min FICO: 680 required for eligibility
Loan Amounts: From $50,000 to $3,500,000
Term Length: 12-24 months based on project scope
Built-to-Rent DSCR Requirement: 1.1x
Reserve Requirements: 1-6 months of interest reserves depending on LTC
Recourse: Full recourse required
State Restrictions: Not available in MN, VT, UT, OR, SD, ND
This program is ideal for experienced developers looking to finance ground-up construction projects with a focus on maximizing project profitability.
© Copyright 2024 EMx Lending. All rights reserved. Equal Housing Lender
EMx Lending arranges financing solely for business-purpose residential and multifamily property transactions. We do not offer consumer mortgages or loans for owner-occupied residences. As a private lender, EMx Lending operates under applicable state and federal regulations for business-purpose loans and is not required to obtain NMLS licenses in most states. Please consult with your legal and financial advisors to ensure compliance with your local lending regulations. All loans are subject to approval based on borrower qualifications and terms of the specific transaction.
Rates advertised are the lowest offered. Actual rates and offers may vary based on approval criteria, including but not limited to borrower FICO score, previous experience, period of ownership, and other factors. *At this time, we are unable to lend in Minnesota, North Dakota, Oregon, South Dakota, Utah, and Vermont.