Our Terms and Conditions
Before we can start working with you to create an individual loan plan, there are some requirements you must possess to be eligible.
Once we know you fit the criteria, we’d be more than happy to set you up with a representative and start talking about your fix and flip loan!
We must see proof that you have experience in this area. Whether you’re an investor, remodeler, seasoned flipper, or new construction builder; we want to know what experience will make flipping this home a success.
Once we know that you have the physical experience to qualify for the fix and flip loan, we’ll want to see your credentials.
We require our builders to have the necessary licenses for their project before moving forward. Additionally, we’ll want to see evidence of past employer or client satisfaction. Acceptable credit histories must also be proven.
Once we know that you’re eligible for the loan as an individual, we’ll want to make sure your property fits our criteria as well.
We don’t offer funding for the remodeling or flipping of condominiums. The property should be a detached, single-family home or townhome. This property should also be within your scope of experience.
If you’ve only worked on homes that are 1,300 sq. feet which required minimal work, we can’t fund a 3,500 sq. foot home that needs to be completely remodeled. We look for consistency while lending to builders.
Lastly, our loans are maxed at $500,000 for fix and flip builders.
When it comes to our loan requirements, we require a variety of different types of insurance.
- Builder’s Risk Insurance
- General Liability Insurance
- Flood Insurance
We also will want a boundary survey to be done on the property, as well as a Lender’s Title Policy. We require consistent work upon disbursing the loan as well.
We use direct deposit to disburse money, including the invoiced materials and labor we are able to cover for your project.
When you choose Shepherd’s Finance for your fix and flip loan, you’re choosing personalized and unique care.
We have representatives with years of experience who are more than happy to answer any questions you have regarding the loan process. Should you have any questions, comments, or concerns outside of meeting times, our representatives are only a phone call or email away!
We take pride in our ability to create long-term relationships with our clients. We love to work with builders for multiple projects as we take the trust our clients feel with us very seriously. At Shepherd’s Finance you will never be just another client or another number.
You will always be treated as the valuable professional that you are!
Apply for Your Fix and Flip Loan Today
If you’re ready to take your home-flipping business to the next level, we’re ready to help!
Don’t hesitate to get the financing that you need to flip more homes, and don’t hesitate to reach out to us with any questions that you have!