Types of Loans
Fix and Flip Loans
Short-term financing for investment renovations.
Fix and flip loans help real estate investors buy a property, fund the renovation and sell or refinance it. Approval focuses on the deal: the purchase price, the rehab budget and the after-repair value.
Who it fits
- Real estate investors buying properties to renovate and resell
- Experienced flippers and newer investors
- Investors who need to close quickly
- Buyers of distressed or outdated properties
Key features
- Financing for the purchase and the renovation budget
- Loan amounts based on purchase price and after-repair value
- Short terms, typically 6 to 24 months
- Rehab funds released in draws as work is completed
- Interest-only payment options
Fix and flip loans are business-purpose loans for investment properties, not for a home you live in. They usually carry higher rates and fees than owner-occupied mortgages. Eligibility, loan terms, down payment requirements, rates, fees and program features vary by borrower qualifications, property type and lender guidelines. Contact us to see which program fits you.