Fix and Flip Loans: Hard Money for House Flippers

A fix and flip loan is a short-term loan that pays for buying a property and renovating it, so the investor can sell it for a profit. It is a type of hard money loan: approved on the property and the plan rather than on the borrower's income, and repaid in one payment when the property sells or is refinanced. Ours run 12 to 18 months, start from 8.99%, and fund up to 90% of the purchase price plus up to 100% of the renovation budget, if the deal qualifies.

Payments are interest-only, so the loan is cheap to carry for the months the work takes and expensive to keep for years, which is why it is built to be paid off. The renovation money is released as the work is completed. There is no prepayment penalty, so a quick sale never costs extra. Investors use fix and flip loans for their first project and their fiftieth; the difference shows up in pricing, not in whether the loan is available.

Investors buy homes, renovate them, then sell for profit — a classic investment tool that has been utilized for decades.

Competition for these properties has intensified over the past five to ten years, which makes the speed of your financing as important as its price.

Speed matters in competitive markets. Investors who need funding to purchase these homes must seek lenders without long, drawn-out processes.

We review files and documents in 24 to 48 hours and close in as little as seven business days.

A fix and flip loan is a type of bridge loan: short-term money that carries a property from purchase to its next step. If you need short-term money without a renovation, to move fast on a purchase or to save a closing, our bridge loan program covers that.

For a fix-and-flip, the property's projected post-renovation value serves as the basis for the loan. For a fix-and-refinance, the bridge loan supports the BRRRR method — Buy, Renovate, Rent, Refinance, and Repeat — so you can build a portfolio rather than sell each project.