What Are Fix and Flip Loans?
Fixing and flipping has become quite popular as of late, and we can assist you if you are considering purchasing a property to turn around for profit. Fix and flip loans are generally short term loans used by investors to renovate and then sell a property for purchase.
The first thing you have to consider when flipping a home is financing. If you are unable to finance the cost of the home, we can help you finance it with the backing of our private lenders and investors. Money Source of America has the unique ability to get your funds quickly and without all the strings that are attached to traditional financing.
Not all fix and fips follow the same budget so you have to do plenty of research before investing in a project. Property taxes and maintenance costs will also fluctuate depending on what area you are planning to purchase in, so you want to find a home that will yield a profit with minimum maintenance costs.
Selling can also eat into the budget so you’ll want to evaluate this as well when you are deciding when your purchase to flip. If you want to hold onto the property until a more opportune time comes to sell, we can also help you finance a property for a fix to hold situation.
We can provide funding for 100% of your purchase if you are buying a property to flip it for profit. We have the flexibility to provide funding with or without renovation expenses and can provide quick approvals with interest-only payments. Finding properties in New York or Florida with some weather damage can be pretty easy, but figuring out how to turn to fix those up on a tight budget and turn them around quickly for profit, takes a little more expertise. We’d love to work with you if you have what it takes to get the job done, so don’t be afraid to reach out today.
Rehab/Bridge Loans
- 50,000 to 2,500,000 50,000 to 2,500,000
- 6 to 12 month terms 30 year amortization
- No credit minimum Most credit Considered
- To 100% of Purchase No Junk Fees
- To 100% of Rehab To 80% Purchase/Refinance
- 80% Refinance/Purchase Rates start at 6.0%
- Unrestricted Cash-out Unrestricted Cash-out
- Interest only No DTI or DSCR
- No Prepayment Penalty No Occupancy Required
- No Exit Fees 2 to 3 weeks to close
- No Junk fees Blanket Options for Multiple Properties
- 1 to 2 weeks close
What Else?
- Rates start at 6% (Bridge & Term)
- Foreign Nationals (non citizens) up to 65% LTV
- No property management company required
- No investment experience required
- No primary residence ownership required
- No limit on the number of properties financed
- No population restrictions
- Vacant properties are acceptable
