Our team funded $188,451 for the purchase of a vacant single-family home in Kansas City, Missouri. The file moved from the start of the financing process to funding in about 30 days.
Investment Highlights
Loan Details
Approved loan amount: $188,451
Loan type: Fix-and-flip
Down payment: 20%
Interest rate: 9.75%
Property Details
Property address: Kansas City, Missouri
Property Status: Vacant
Property type: Single Family House
Investment Properties on Sale in Missouri Today
The Property at Purchase
At closing, the transaction was still at the acquisition stage. We structured the acquisition as fix-and-flip financing based on the property’s condition at closing.
The Structure: 80% LTV, Interest-Only
Under the final terms, we funded $188,450 at an 80% loan-to-value ratio, or LTV. The remaining 20% was covered outside the loan.
The loan carried a 9.75% transaction-specific interest rate with an interest-only payment structure. During the interest-only period, scheduled payments covered interest on the outstanding principal, while the principal balance remained unchanged through regular monthly payments.
On the funded balance, the approximate monthly interest was:
$188,450 × 9.75% ÷ 12 = $1,531
This covers interest only; property taxes, insurance, loan fees, and other carrying costs are separate.
Getting to Funding in 30 Days
The file moved through processing, underwriting, closing, and funding within approximately 30 days from the start of the financing process, putting the purchase financing in place for the fix-and-flip project.
Investors evaluating similar properties can speak with our mortgage team about fix-and-flip financing for a specific acquisition.
Jeff Larrabee
Sr. Customer Loan Specialist
Ziffy Mortgage
NMLS #482306Vacant fix-and-flip purchases move fastest when the paperwork is clean from day one. On this one, the valuation, the borrower docs, and the property condition all lined up early, so we weren’t chasing anything after the fact.
The Result
One vacant single-family home in Kansas City. $188,450.62 funded at 80% LTV, 9.75% interest-only in about 30 days from start to close. Investors evaluating a similar acquisition can talk to our expert mortgage team about fix-and-flip financing.
Note: The rate and loan terms described are specific to this transaction and may not be currently available. Program availability, leverage, pricing, and qualification requirements vary by borrower and property. All loans are subject to underwriting and approval.
