Fix and flip loan.
Short-term financing to buy a property, renovate it and sell it. How the funds, the timeline and the exit work, explained before anything is offered.
Short-term financing to buy a property, renovate it and sell it. How the funds, the timeline and the exit work, explained before anything is offered.
A short-term loan that funds the purchase and often the renovation of an investment property, repaid when the property sells or is refinanced.
Investors buying distressed properties, moving fast on a purchase, or funding a renovation without tying up their own cash.
Short-term financing costs more than a traditional mortgage, and the loan is sized on what the property will be worth after the work. The exit matters.
Purchase price, renovation budget, expected resale value and your timeline.
Purchase and renovation funds, the draw schedule and the exit, with the cost said out loud.
Renovation funds are released as work is completed. The loan is repaid at sale or refinance.
You are buying to renovate and resell, not to live in.
You have a scope and a realistic renovation cost.
The deal depends on closing faster than a traditional mortgage allows.
You know how and when the loan will be repaid.
If you plan to keep the property and rent it out, a DSCR or investment property loan may fit better. Your loan officer compares both.
On the purchase price and renovation budget, measured against the after-repair value. Your loan officer gives you the figure for your project.
Faster than a traditional mortgage, often in a couple of weeks once documentation is in.
It helps with pricing and terms, but first-time investors can qualify. Your loan officer tells you what applies.
In draws as work is completed and verified.
Extensions are sometimes available, or the loan can be refinanced into a longer-term investment loan. Your loan officer plans the exit with you up front.
Tell us about the property and your plan. A loan officer structures the financing and the exit before anything is offered. Pre-qualifying will not affect your credit score.
Pre-qualify for a fix and flip loan
