COVID-19 Update – Onyx Funding remains active through these challenging times. We can help with any scenario.

Fix to Rent

The BRRRR Magic

We love nothing more than seeing our clients find a great deal, buy it, rehab it, rent it, refinance and reload for the next one. The magic of the BRRRR strategy is that you can recycle your down payment for one property to purchase endless properties by repeating the cycle over and over again.

As usual, the devil is in the details. There are some pitfalls in this approach. Some we can’t really help you with – like buying right or choosing the right tile. What we can help you out with is finding the right loan for both the purchase & rehab portion AND the long term refinance.

One of the biggest pain points for investors has been hoping and wishing for the SECOND appraisal to come in at the same price as the original rehab loan value. 

This is where the capital recycling/repeating magic happens. What if you had a lender that could do both the rehab AND long-term loans AND could use the same appraisal for both transactions?

Onyx Funding has the perfect solution for you!

Our Loan Parameters

Type
Bridge
Permanent
Loan Amount
$75,000 Minimum Loan Amount
$75,000 Minimum Loan Amount
Primary Focus
SFR, 2-4 units, Townhomes, Condos, Manufactured homes
Blanket loans and portfolio’s, SFR, 2-4 units, Townhomes, Condos, Manufactured homes
Loan Term
12 months with extension options
5,7,10 ARM’s and 30 year fixed rate available
Maximum LTV/LTC
Up to 90% of the purchase price + 100% of the rehab (Up to 75% ARV).
Up to 80% Rate & Term Refinance.
Up to 75% Cash-out Refinance.
Recourse
Non-recourse on a case-by-case basis
Non-recourse on a case-by-case basis
Amortization
Generally interest-only
Generally, 30 years amortization. Interest-only available
Interest
Starting at 7.99%
Starting at 5.5%
FICO
650+
650+

Customized Lending

Onyx Funding is a full service commercial real estate firm that provides creative finance solutions.

We specialize in debt and equity funding for commercial real estate properties nationwide with a focus on building long lasting relationships and providing white glove service.

We provide sponsors with capital through our various capital sources.

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We Simplify the Loan Process

1. Consultation

2. Submission

3. Application

4. Loan Funded

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Secure the Funding You Need

Onyx Funding strives to become your primary financing source. We can cover all your financing needs across all property types and real estate investment strategies. Onyx Funding will find the best financing solutions for your deals under a clear and straightforward execution.

Let us help your business grow!

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