The Best Home Loans In 2021

CIVIC financial services

CIVIC Financial Services has partnered with Home Depot, which puts the company in our best position as a value-added lender. This partnership enables Flossen to save money on supplies and materials for their rehab.

  • Offers up to 100% rehab funding and discounts with Home Depot

  • They can close as quickly as five days

  • You have won many awards

  • CIVIC Victory Club loyalty program

  • They have made fix-and-flip loans of up to $ 4 million in high-cost areas

  • If you don’t use Home Depot, the Value Added Program won’t be of any use to you

  • This can be extended to three weeks or more if the reviewers’ schedules dictate

  • Loans in 20 states

CIVIC’s rehab savings program through Home Depot (the so-called Rapid Pass program) enables you to save money on many items when shopping in your store. You can bypass the queues at the pro desk by using the Rapid Pass app at each checkout. You use the app when you want to apply your discounts. No minimum purchase is required and the app can be used at any Home Depot location nationwide.

CIVIC Financial Services is a tough money lender that prides itself on its experience and technology. You can complete the entire application process online. The CIVIC team can process loans in-house and make quick decisions (on average between seven and ten working days, sometimes even five days). With the company’s new loyalty program, the CIVIC Victory Club, you can count on perks and rewards for funding at least three properties, including high-end tablets, small appliances, and other valuable gifts.

For loan products, CIVIC offers bridging loans, fix-and-flip, rent, refinance, rehab finance, long-term loans, and apartment buildings. With no minimum FICO and only reported income, CIVIC offers up to 80% for cash-out refinancing and up to 100% rehab financing. Additional criteria that distinguish them:

  • A one-year term with no prepayment penalty
  • A two year option for larger projects with just a six month early repayment penalty
  • Loans up to 90% Loan to Price (LTP)
  • Bridging loan interest rates start at 6.99% and rental loans start at 4.75%
  • No personal guarantee, so it is a non-recourse loan for a flip
  • Only one credit withdrawal per year
  • Larger rehab budgets than other lenders, around $ 275,000, up to 130% of purchase price
  • CIVIC allows you to double the size of the house through rehab
  • Refinanced during construction if you’ve gone through the project with another lender
  • Referral Program: When a borrower refers someone to CIVIC, CIVIC pays up to 1%
  • After three flips, borrowers can qualify for cashback on closed loans up to $ 450
  • There is no limit to the number of properties you can lend; a couple used them to finance 77 loans in January 2021

CIVIC Financial Services provides loans 20 states and Washington, DC, and has many positive reviews online. They have a 4.8 out of 5 rating on and a 4.7 out of 5 rating on Glassdoor. They have won multiple awards including being in the Top 5% of Financial Industry by Peakon, Fortune Magazine’s Best Workplace (9th) in Financial Services and Insurance, a 2018 Vanguard Award from Housingwire Magazine, and being named # 6 Best Mortgage company for 2021 from National Mortgage News (the only private lender on the list).

Virginia C. Taylor

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