Bangor’s price points and buyer demand work well for tight, well-managed flips. Ambition Lending funds investor-purpose projects with straightforward underwriting and reliable draw releases.
Leverage & Draws
Up to 80–90% purchase and up to 100% rehab on qualifying files, released via milestone-based draws. Plan 3–4 draws with labeled photos and scheduled inspections.
Budget Guardrails
- ARV $295,000; Rehab $32,000; 70% rule → Max purchase = 0.70 × 295k – 32k = $174,500
- Holding/soft costs: $14k–$18k over 4–5 months
- Aim for finishes aligned to neighborhood comps—not beyond them.
What Speeds Approval
Tight comps from the same area, clean scope tied to milestones, and a clear exit (list-and-sell or DSCR refi).
Q&A
Owner-builder? Cosmetic scopes may allow; heavy scopes need licensed subs.
First draw timing? Often within 7–10 days after verified progress.
Manufactured homes? Case by case with foundation and data plate details.
Hard Money Lender in Bangor
