A wholetail loan is a short-term hard money loan designed specifically for wholetail real estate deals — properties you purchase at a discount, perform minimal cosmetic improvements on, and resell on the MLS to retail buyers within 30 to 60 days. Unlike fix-and-flip loans, wholetail loans have shorter terms and no rehab escrow requirements. The Ternus Wholetail Loan offers a 60-day term with up to 100% loan-to-cost and closings in as little as 24 hours.
In wholesaling, you assign a purchase contract to another investor without ever taking title to the property. In wholetailing, you actually close on the property, take ownership, perform light cosmetic cleanup (typically $2,000–$5,000 in paint, cleaning, and landscaping), and list it on the MLS to sell to retail buyers. Wholetailing typically generates $20,000 to $80,000 in profit per deal, compared to $5,000–$15,000 for a typical wholesale assignment fee. Wholetailing requires short-term financing to close, which is exactly what our Wholetail Loan provides.
Wholetailing involves minimal rehab — light cosmetic work only, no structural renovations, no permits, no contractor crews. A typical wholetail deal is completed in 30 to 60 days with under $5,000 in improvements. Fix-and-flip deals typically take 4 to 12 months and require $25,000 to $100,000+ in renovation costs. If your property needs significant repairs, our Fix & Flip Loan (https://www.ternus.com/loan-programs/fix-flip-loans/) may be a better fit.
Yes. We are able to offer leverage up to 100% loan-to-cost on certain wholetail deals. However, not all investors or properties may qualify for maximum leverage. Eligibility depends on the deal structure, property valuation, and borrower experience. To determine your eligibility, call us at (972) 755-1880 or submit a deal through our form.
We lend on 1 to 4 unit residential, non-owner-occupied investment properties. Eligible property types include single-family residences, duplexes, triplexes, fourplexes, and small multifamily (up to 9 units). Ineligible properties include commercial, manufactured homes, raw land, and rural properties. The property should be structurally sound and need only light cosmetic improvements — ideal wholetail candidates.
Ternus currently lends in 39 states. We do not lend in Alaska, Arizona, California, Hawaii, Michigan, Minnesota, Nevada, New Hampshire, Oregon, Rhode Island, or Vermont. Additional state restrictions may apply. To confirm eligibility for your specific project and location, check our lending map (https://www.ternus.com/where-ternus-lends/) or call (972) 755-1880.
Yes, closing costs can be rolled into the loan to help you manage cash flow. However, Ternus origination fees cannot be rolled into the loan amount. This structure keeps your out-of-pocket costs low while maintaining clear, transparent terms.
The Wholetail Loan has a 180-day term. If you need additional time, contact your loan officer to discuss extension options. For deals that may require a longer timeline or more significant renovations, consider our Fix & Flip Loan (https://www.ternus.com/loan-programs/fix-flip-loans/) with a 12-month term and a 3-month extension option.
