Fix N Flip Loans
The term "fix and flip loans" refers to financing used by short-term real estate investors to purchase and renovate a property in order to sell it for a profit. Fix n flip funding for flipping properties offers investors fast closings for properties in any condition. Short-term loans can help real estate investors renovate a property and sell it fast. The most popular type of fix-and-flip loans are hard money loans.
The term "house flipping" is used by real estate investors to describe the process of buying, rehabbing, and selling properties for profit. In 2017, 207,088 houses or condos were flipped in the U.S., which is an 11 year high. - "2017 Home Flipping Report". ATTOM Data Solutions.
Profits from flipping real estate come from either buying low and selling high (often in a rapidly rising market), or buying a house that needs repair and fixing it up before reselling it for a profit ("fix and flip"). Under the "fix and flip" scenario, an investor or flipper will purchase a property at a discount price. The discount may be because of:
- the property's condition (e.g., the house needs major renovations and/or repairs which the owner either does not want, or cannot afford, to do), or
- the owner(s) needing to sell a property quickly (e.g., relocation, divorce, pending foreclosure).
Types of Fix & Flip Loans
- Hard Money Loan
- Cash-Out Refinance Loan
- Home Equity Line of Credit
- Investment Property Line of Credit
- Bridge Loan
- Permanent Bank Loan/Online Mortgage
Our fix and flip loans provide flexible terms for funding of up to 90% financing of the purchase price and up to 100% of the rehab costs of the project to the real estate investor who wants to purchase and renovate a residential or commercial real estate investment property. We offer hard money loans for fix and flip properties from $100,000 and up, with no prepay penalty and no limit on the number of properties.
Our Fix-N-Flip Financing Program Highlights
- Fix and flips, distressed properties, and non-arm's length transactions
- Only 10% Down Payment Required (for qualified borrowers)
- Loan amount $100,000+ (No Maximum Loan Amount)
- 6 months to 2 years term - interest-only.
- First Time Investors OK
- No tax returns for loans under $500,000, 85% LTV and 100% of cost, 600 minimum FICO
- No hurdles- a very user-friendly and streamlined process
We offer loans for any type of real estate situation where a quick closing is needed. With just 24-hour turn-around times, you can get the money you need fast. With the right fix and flip loan provided you can have the cash you need at the earliest.
Apply online today to get the loan process started. If you have any questions about the fix n flip loans, please feel free to contact us today.