FREQUENTLY ASKED QUESTIONS
Fix Up Funding provides private money loans for the acquisition and fix up of twin cities real estate.
We provide private funds for real estate investors who need funds to buy properties to fix up and resell. These loans are sometimes called hard money loans. Our lending criteria is based on the property that you are purchasing and not your past credit history.
Although we are licensed to do so, we do not lend on any property where the owner lives in or intends to live in while our loan in in place.
We lend within the Twin Cities Metro Area; Usually anywhere within an hour drive of the MSP airport.
Our loans are secured by mortgages against the properties you are acquiring. Once you qualify, the funds we lend can include the acquisition as well as the fix up funds needed to rehabilitate the property. Because the funds we use are our own, we can evaluate and fund within days, not weeks!
We believe it is. We have been involved in the Twin Cities residential real estate full time for the past 15 years and we know areas and values. This helps with making quick decisions without the need for appraisals. We are the ones who will directly meet with you and evaluate your deal. We are licensed by the state of MN to originate loans service loans; this is important because we do not rely on other companies to originate loans that we fund.
While every deal is different we will lend funds for the acquisition or refinance of properties at rates ranging from 9-14% interest with 2 to 5 origination points for a 6-9 month term . We sometimes loan behind other financing to provide borrowers with the equity needed to fund the transactions. While we are looking to fund deals maximum loan to value of 70% we will make some exceptions depending on other collateral you may have.