A fix and flip loan is a short term private money loan used to fund the purchase and renovation of residential investment properties. It allows the buyer to buy the property, rehab or renovate it, and then turn to sell the property in a short amount of time, usually within six months.
If you are an investor or flipper interested in buying properties that require all cash or private money to fix and flip, consider our fix and flip private money program. Our fix and flip hard money loans provide up to 70% of the project cost, which is the purchase price plus the cost of the rehab. These loans have no prepay, which allows you to sell the property as quickly as you can.
Fix and Flip Loans at a glance:
- Up to 70% Loan to ARV (After Repair Value)
- 6 -12 months Terms
- $50K to $1M+ Loan Amount
- 7% to 13+% Rates
- 2 to 4 Origination Points
- 3-5 Draws, if rehab required
- No prepayment penalties or minimum hold period
Fix and flip Loans are sometimes referred to as bridge, rehab, or renovation loans as well. They enable home buyers to finance both the purchase along with the renovation of a home through a single mortgage.
If you have any questions about these types of loans, you can apply here and one of our loan officers will contact you or feel free to contact us directly at 832-770-4375.