Fix and flip loans allow real estate investors who flip properties to finance both the purchase and renovation costs of a property before the sell it for a profit. These loans usually fund within 10-15 days allowing fix and flip borrowers to compete against all-cash buyers.
A fix and flip loan is a short-term loan that is usually due within a six to twelve months and allows for financing of properties in poor condition. Experienced fix and flippers use this financing to purchase, rehab, then sell the property within that time frame.
There is no limit to the amount of properties you can take on so it’s not uncommon for investors to have multiple projects going on at one time.
Fix & flip loans, also known as rehab loans, have low approval requirements because lenders care more about the properties upside value compared to the borrower’s credit history. This allows for investors who may have low FICO scores or past credit issues to easily qualify.
Call us today to discuss your scenario with one of our experienced loan officers and see how easy getting a loan to flip a house can be.
3700 N Eagle Rock Blvd. Suite B, Los Angeles, California 90065, United States
Monday - Friday: 9am - 6pm
Saturday: By appointment