3315 E Princeton AveFresno, California

Fresno, CA 93703 · MLS 656608

List price

$159,000

2 bd / 1 ba
Bedrooms / baths: 1,159 sq ft
Living area: 1950
Year built

"Cash or hard-money loans only."

Listed by Eric McCormick London Properties, Ltd. DRE #01931027 · (559) 436-4071

3315 E Princeton Ave is a 2-bedroom, 1-bath home in Fresno, California listed at $159,000 with 1,159 square feet, built in 1950. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 10% down ($15,900), we fund the $127,490 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. A California buyer can also close in 3 days with 35% down and no appraisal. See every hard money opportunity in California or our California hard money lending page.

From the listing. Contractor special at 3315 E. Princeton Avenue, Fresno, priced at $159,000. 1,159 sq ft on a 6,600 sq ft lot. The home has fire damage. Cash or hard-money loans only.

01 - Price This Property

Hard money financing on 3315 E Princeton Ave: what you qualify for.

Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.

List price $159,000

State CA

Your credit score, approximate

Type a number, like 720. A ballpark is fine and nothing is pulled. Leave it empty if you have no score.

Investment projects you completed in the last 3 years

Flips, rentals bought and sold, or builds. Decides the down payment.

Renovation budget

Our super rough estimate at $110 per sq ft. Put in your contractor's number if you have one.

After-repair value, if you know it

The loan stays under 75% of it. Leave blank to size on the price alone.

1. Your score740Qualifies
2. Your experience1 to 2 projects10% down at closing
3. Down payment10% down$15,900 at closing

You qualifyAt a 740 score with 1 completed project, you qualify for 10% down on this property with the renovation funded.

Option 1 - Close in 3 days

35% down

No appraisal. Closes like cash.

Cash to close, rough estimate $57,200

Loan at closing $103,350

Rate, interest only 10.5%

Why not. At 35% down the loan would be $103,350, under the $250,000 minimum on the 3-day program.

Option 2 - Fix and flip, experienced

10% down

We fund 100% of the renovation. Closes in 2 weeks.

Cash to close, rough estimate $29,852

Loan at closing $143,100

Rate, interest only from 9.99%

The cap of 92.5% of the total cost leaves $5,587 of the renovation for the buyer.
With one to four completed projects in three years and a moderate (half to all of the price) renovation: up to 90% of the price at closing and up to 100% of the renovation.
Ten or more completed flips (five in this state) with a 720 score reach 100% financing on this property.
Add an after-repair value to confirm the total: the loan is also capped at 72.5% of it.

02 - The Numbers at Closing

3315 E Princeton Ave priced at the list price.

Item	Option 1: 35% down	Option 2: 10% down
At closing
Qualifies as entered	Yes	No
Buyer down payment	$15,900 (10%)	$55,650 (35%)
Loan at closing	$143,100	$103,350
Full renovation, rough estimate*	We fund $121,903	Buyer pays $127,490
Total loan	$265,003	$103,350
Rate, interest only	from 9.99%	10.5%
Points	1.5 ($3,975)	1.5 ($1,550)
Appraisal	Required	None
Estimated monthly interest	$2,206 at full draw	$904
Cash to close, rough estimate	$29,852	$57,200

Rough estimates at the list price of $159,000 for a 740 score and 1 completed project. This is not a commitment to lend.

*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $110 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. The no-appraisal option is available in major California markets. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.

We are the lender, not the listing agent. This property is listed by Eric McCormick, London Properties, Ltd. ((559) 436-4071). To see it or make an offer, contact Eric directly, or work with your own buyer's agent. The numbers on this page are simply what our financing would look like on this property. Viewing them is not a commitment to borrow from us, and you are free to finance the purchase however you choose. We do not represent buyers or sellers.

Request the Term Sheet Call (323) 304-4978

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