What is Flip Funds

FlipFunds is a brand created by FlipNerd.com to bring it’s members access to funding from one of the nations premier real estate investor lenders, LendingOne. Lending One has over 100 years of combined real estate experience and mortgage experience in their senior executive ranks. They have designed a borrower-centric technology to provide a simple, fast and reliable marketplace for both borrowers and investors. Lending One and its affiliates have provided over $300 Million in real estate capital and is strongly supported by the Crestar Group.

How does FlipFunds work?

Borrowers apply for loans through an easy-to-use online interface and typically can be financed between 10-14 days. Through Lending One’s technology, they streamline the application process to obtain only the necessary documents we need to close your loan quickly, reliably, and to minimize work for you and maximize ease. All of this can be done 100% online, with personal loan consultants on-call every step of the way. Processing costs are less than the industry average and the savings are passed directly on to the borrower. Using Lending One’s proprietary technology, they deliver reliable financing to the traditionally under-served.

How is FlipFunds Paid?

FlipFunds.com provides marketing for our partner, Lending One. Fees and rates charged to borrowers are identical whether a borrower applies via FlipFunds.com, or directly through Lending One. Flip Funds is paid a marketing fee for it’s efforts, but has no role in evaluating applications, determining if loans are approved, and never sees personal information from applicants. Lending One is a large lender that helps real estate investors, new or veteran, fund fix and flips or long term buy and hold deals. Any questions about the lending process should be aimed directly at Lending One at 888-311-4804.

Do you lend on owner-occupied houses?

No! We only provide financing for investment properties. This means that the borrower cannot live on the property at any time during the course of the loan.

Are you a bank?

No, Lending One is not a bank, nor a broker, but a fully funded lending partner that can close consistently and help you grow your real estate portfolio. They use 100% of our own capital and do not broker your loans. Lending One is a direct private lender for Real Estate investor professionals. They offer flip bridge loans, rental financing and credit facilities for high volume investors.

What type of loans do you offer?

Lending One offers three types of loans*:
Fix and Flip
Up to 90% of Purchase & Rehab Costs
Bridge Financing up to 12 Months
Loans from $75k-$2M
Rates: 8.25% – 13.9%
Get Pre-qualified Today
Rental
Up to 75% LTV
Term Loans for Single Family 1-4 units
5, 7 and 30 Year Loans
5.75% – 9.9%
Get Pre-qualified Today
Pre-Approvals/ Proof of Funds
Up to $5,000,000
8.25% – 11.9%
Get Pre-qualified Today
* Rates are subject to change

What States do you lend in?

Lending One provides lending in all States and District of Columbia except Alaska, Arizona, California, Hawaii, Nevada, North Dakota, Oregon, South Dakota, Utah, and Vermont.
Our Lending States include:
Alabama
Arkansas
Colorado
Connecticut
Delaware
DC – District of Columbia
Florida
Georgia
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
New Hampshire
New Jersey
New Mexico
New York
North Carolina
Ohio
Oklahoma
Pennsylvania
Rhode Island
South Carolina
Tennessee
Texas
Virginia
Washington
West Virginia
Wisconsin
Wyoming

How do you determine the loan amount?

Lending One will lend up to 65% of the ARV (After Repair Value) as determined by an appraisal or the LTC limit. They offer financing from 75% to 90% of the purchase price and repairs costs.

What is a bridge loan?

A Bridge Loan is a short-term mortgage used to acquire a property quickly. Generally this financing is used until permanent financing is found, the home is resold, or it is rehabilitated and then resold.

Who needs a bridge loan?

Property investors that are fixing and flipping properties are the most common customers of Lending One Bridge Loans. Anyone buying properties on market or in distress, rehabbing, and reselling is a potential customer for us.

Do you fund the repair costs?

Yes, Lending One specializes in Fix/Flip lending that includes Repair Costs. We will lend up to 90% of the purchase price and up to 90% of the rehab costs or up to 65% of the after repair value. The repairs are handled via construction draws.

How are construction draws handled?

Within 48 hours of a draw request, a Lending One licensed contractors inspects the work completed. Within 24 hours after the inspection, the funds are released. There is a $150 charge for each draw that is deducted from the draw amount. We don’t make any money on construction draws. The cost of the draws go directly to our contractors to ensure that the work is done properly and within code.

Who needs a rental loan?

This loan is tailored towards both small and larger operators who have one or more rental properties that are successfully producing cash flows sufficient to pay a mortgage. We offer both purchase and refinancing options.

What is a rental loan?

A Rental Loan is a medium to long term loan for income-producing rental investment properties. It is underwritten primarily against the property value and the cash flow of the property itself, with less emphasis put on traditional credit factors.

How much documentation do I need to provide?

Depending on the loan, Lending One will collect different documents. Their systems may ask for documentation not applicable to you, in which case you do not need to provide us that information. However, in general, the more information you can provide, the more opportunities exist for us to uncover the right financing program for your situation.

How does your pre-qualification process work?

The Lending One pre-qualification process allows you to quickly gauge how much funding you are eligible to receive for your real estate investment project. They will require you, either through our online application or on the phone with one of their loan consultants, to provide the following information:
• Your experience in real estate investing. (how many deals have you done, rental vs fix-n-flips?)
• Total amount of money available to invest in your real estate projects.
• Your overall credit profile.
• Your total income.

Can I schedule a call with a loan consultant?

Yes, you can schedule a call with a Lending One consultant through here, or you can call us at our toll-free number 888-311-4804 to quickly gauge how much funding you are eligible to receive for your real estate investment project. Lending One will require you, through either the online application or on the phone with a loan consultants, to provide the following information:
• Your experience in real estate investing. (how many deals have you done, rental vs fix-n-flips?)
• Total amount of money available to invest in your real estate projects.
• Your overall credit profile.
• Your total income.

Do you have a minimum FICO score?

There is typically a minimum of a 620 FICO minimum score; however, a borrower’s credit score is only one of many factors taken into consideration when underwriting the loan.

How to make payments?

Lending One contracts with FCI Lender Services to service and accept payments for your loan. You will receive a full welcome package with instructions directly from FCI within 2-3 weeks of closing. Your payment will be due on the 1st of the month and the automatic Automated Payments (ACH) form from FCI should be completed. FCI Lender Services 8180 East Kaiser Blvd Anaheim Hills, California 92808 Toll Free (800) 931-2424 Fax (714) 282-2425

How do I payoff my loan?

To request a payoff, please request directly to FCI Lender Services. Please have your recent statement or Account # to provide to FCI. We are sorry, but Lending One cannot process a payoff directly because the servicer maintains your daily account balance and year-end interest tax reporting. payoff-ls@trustfci.com Payoff Department FCI Lender Services, Inc. Phone: (800) 931-2424 Ext.651