Fix and Flip Loans Chesapeake, VA
National Non-Bank Private Lender. Great Rates. Fast Closings. Speak with a Local Lender.
LendingOne – Best Fix and Flip Loans Near Chesapeake
LendingOne is an Chesapeake private money lender offering short-term mortgage loans to real estate investors in Alexandria, Arlington, Chesapeake, Hampton, Newport News, Norfolk, Richmond, Roanoke, Virginia Beach. Get a private money loan for a property purchase, refinance, equity cash out, rehab or new construction purchase.
Fix and Flip Loans Rates as low as 7.49%*
LendingOne Fix and Flip Loans can provide the cash you need to grow your real estate investment property portfolio:
- Closings in as little as 10 business days
- No hurdles- flexible loan options designed to meet your strategic needs
Advantages of our Fix and Flip Loans in Chesapeake
- Up to 85% of property purchase amount
- 100% financing on rehab costs
- No interest charged on unused rehab funds
- 12-Month interest only (no prepayment penalty)
- Up to 75% ARV
Ready to get started on your new fix and flip property loan? Get ahead of the competition in the Chesapeake real estate market.
Speak to a Fix & Flip expert today by calling 866-918-1974
Fix And Flip Loans Near Chesapeake, VA
What type of properties are eligible for Fix and Flip loans near Chesapeake, VA offered by LendingOne?
The following property types are eligible for our fix and flip loans:
- Single Family Residence (SFR)
- 2-4 Unit Properties
- Condominiums
- Townhouses
What type of fix-and-flip loan rates are offered by LendingOne?
LendingOne near Chesapeake, VA offers fix-and-flip loan rates between 7.49%-12.9%. All rates are based on the individual property and borrower. Call us to learn more at 866-918-1974
What is the minimum and maximum loan amounts for fix and flip loans offered by LendingOne?
LendingOne fix-and-flip loans have a minimum loan amount of $75K and a maximum loan amount up to $4M (Exceptions Granted).
Do you lend on construction or repairs near Chesapeake, VA?
Yes, LendingOne specializes in providing fix/flip loans that include both the purchase and repair costs as part of one loan.
What states does LendingOne offer its fix-and-flip loan products?
LendingOne provides lending in all States and District of Columbia except Alaska, Nevada, North Dakota, South Dakota, and Utah.
What is the minimum FICO score for LendingOne’s fix-and-flip loans?
LendingOne’s fix-and-flip loan FICO score minimum is 600.
What states does LendingOne offer its fix-and-flip loan products?
We look at things very differently than a bank and rely mostly on your real estate experience and other common sense factors when making decisions.
LendingOne will ask for the following documents for Fix and Flip Loans.
- Sales Contract
- Construction Budget
- 1-month bank statements
- A list of properties you currently own (an REO Schedule)
- Two years of tax returns
- LLC Operating Agreement or Articles of Corporations
Do you lend to Companies or LLC’s near Chesapeake, VA?
Yes, we only lend to real estate companies. Our fix-and-flip loans are available to the following borrowers:
- LLCs
- Limited Partnerships, General Partnerships
- Corporations
Do you lend to people from my Country?
Our fix-and-flip loans are available to the following borrowers:
- U.S. Citizens
- Canadian Citizens
- Permanent Resident Aliens
Can I receive financing for a residence that I’m looking to live in?
No. LendingOne provides commercial only loans that are non-owner occupied (investment) properties.
Is there a prepayment penalty?
No, there is no prepayment penalty on our 12-month fix-and-flip loans near Chesapeake, VA.
Chesapeake Fix & Flip Real Estate Market
Median Listing Prices for Fix & Flip Properties in Chesapeake, VA
Real estate investors looking to purchase or sell fix & flips in Chesapeake, VA should consider analyzing the median listing prices of homes in the area. This allows investors to calculate whether there is enough margin for profit once all purchase costs and necessary repairs have been totaled before either selling the property again or holding it as a long-term rental investment. Rising prices in Chesapeake, VA can indicate it is a seller’s market where demand for properties is high enough that sellers can increase their asking prices on fix and flip properties, and successfully close with that asking price. Alternatively, a market where prices have decreased could indicate a buyer’s market.
Get 5 Steps Closer To Growing Your Fix and Flip Business near Chesapeake
Advice on searching for a property to fix and flip
Ways to get organized before beginning
What to expect during the project
Recommendations for when you’re ready to sell
Median Inventory Data for Fix and Flip Loans Investment Properties Chesapeake, VA
The number of properties available on the market in Chesapeake, VA is another great indicator of that area’s popularity and potential profitability. Usually, minimal inventory means demand is high for that area. If properties are not vacant for long, there is probably a reason why people want to live there and fix and flip investors should take note of these factors when deciding if they should purchase a property in Chesapeake, VA.
Average Days on the Market for Fix and Flips in Chesapeake, VA
The length of time a property sits on the market can help fix and flip investors understand the supply and demand in Chesapeake, VA. Shorter days on the market mean people are buying up or renting out homes at a faster rate. Alternatively, properties sitting vacant for longer periods of time can either mean asking prices are too high in Chesapeake, VA, or there may be reasons why the area is not attracting enough buyers or renters interested in living there.
Driving Factors for the Chesapeake Real Estate Market
Education: Chesapeake is home to one of the highest educated workforces in the country, greatly due in part to the surrounding top ranking schools in the Chesapeake, VA area.
Economy: Chesapeake‘s top employers are driving growth in the real estate market including General Hospital.
Businesses: According to the Chesapeake Chamber of Commerce, Leisure & Hospitality, Professional & Business Services, and Education & Health Services have seen high job and wage growth.