Fix And Flip Loans
Fix and flip loans are short-term financing options designed for real estate investors who purchase properties, renovate them, and then sell them for a profit. These loans are specifically tailored for investment properties and are often quicker and more flexible than traditional mortgages.
Key Features of Fix and Flip Loans
Short-Term Duration: Typically ranging from 6 months to 24 months, allowing investors to finance the purchase and renovation of a property.
High LTV Ratios: Our lenders offer loans with high loan-to-value (LTV) ratios, up to 90% LTV.
Speed of Approval: We offer a quick application process. Documents needed are less than traditional loans, and we can close quickly, within 2 weeks to 30 days.
Interest Rates: Interest rates are generally between 8%-15% depending on several factors including the risk of the deal, the borrower’s experience and credit score.
Renovation Costs Included: Our loans can cover up to 90% and sometimes even 100% of your rehab costs.
Benefits- Quick Access to Funds: Ideal for investors looking to capitalize on opportunities swiftly. Flexibility: Lenders may offer flexible terms tailored to the project’s specifics. Potential for High Returns: Successfully flipping properties can yield significant profits.
How the Numbers Work
5) Size and Layout: Determine the size and layout of the home that will meet your needs. Consider factors such as the number of bedrooms, bathrooms, and living spaces.
6) Condition of Home: Consider the condition of the home you are interested in. Do you want a fixer-upper, or do you prefer a move-in-ready home?
7) Home Inspection: Have a professional home inspection done before you buy. This will help you identify any issues with the property that may affect your decision to buy.
8) Homeowners Association: Determine if the property is part of a homeowners association and review the HOA rules and fees.
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