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Hard money and fix and flip loans in Bowie, MD
Financing for suburban single-family flips and long-term rentals in Bowie and central Prince George’s County.
The Bowie market for investors
Bowie is the largest city in Prince George’s County, a suburban community of single-family homes, many of them in neighborhoods built from the 1960s onward. It sits between Washington, Annapolis and Baltimore, with a MARC station at Bowie State University.
Investors update dated colonials, split-levels and ranch houses for resale to families, and hold single-family rentals. Homeowners associations are common, and their dues count in a rental’s payment.
Areas investors ask about
- Belair and Kenilworth sections: 1960s Levitt-built homes that are ready for updating
- Old Town Bowie: older homes near the railroad
- Newer subdivisions off Route 301: larger homes with association dues
Plan for these on a Bowie deal
- Prince George’s County requires a rental license and an inspection for single-family and multifamily rentals. Some municipalities inside the county run their own programs as well, so check the address.
- Montgomery and Prince George’s counties limit short-term rentals to a host’s primary residence, so investment properties are underwritten on long-term rent.
- Association dues count in the payment for a DSCR loan. Ask for the HOA budget and rules on leasing.
- Original roofs, windows and HVAC systems on 1960s and 1970s homes are common budget items.
Loans available in Bowie
| Program | Use it for | Top leverage |
|---|---|---|
| DSCR rental loans | Purchase or refinance of long-term rentals, rowhouses, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance |
| Ground-up construction loans | Building a home, an infill rowhouse or a rental from the ground up, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
Bowie hard money loans: common questions
Yes. We lend up to 90% of the purchase and 100% of the rehab at a 720+ credit score, within 70 to 75% of the after-repair value.
Yes. Association dues are part of the monthly payment used to calculate the DSCR.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. Closings are handled by a title company or settlement attorney.
Looking at a property in Bowie?
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.