2.  What are the downpayment requirements?

Downpayment requirements vary depending on the economy, the property, and the borrowers’ qualifications. Also, because requirements and programs may fluctuate over time, you will want to check with us to confirm the latest information. Downpayment requirements are between 10 and 30 percent. 

Subject to underwriting and qualifying, we may consider a variety of sources to be used for the downpayment such as home equity lines of credit, funds from partners, cross-collateralization whereby with borrower’s consent we may be able to take a lien on another property already owned to cover the downpayment for the fix-and-flip property being purchased, and of course, funds on hand such as checking, savings, mutual funds, and other liquid sources can be used for downpayment.

3. What are the rates/fees/terms?

Please refer to the Fix-and-Flip Terms Link.

4. Are there any prepayment penalties on the loan?

Not on Merchants Funding's fix-and-flip loans.