Essencap is the direct lender in the fix N flip loan. We are still lending.
The loan is designed to give you the most leverage. We give you all money and you keep the profits.
PROPERTY TYPES: 1-4 family, non owner-occupied
LOAN SIZE: From $250,000 to $1,000,000
LOAN TERM: 12-18 months
AMORTIZATION: Interest Only
INTEREST RATE: 8.99% – 11.99%
LOAN-TO-VALUE: Up to 65% of the “as repaired” or “as completed value”
EXPENSE DEPOSIT: Adequate to cover third-party reports, legal fees, and customary expenses
CLOSING TIME: Typically within 10 business days