Buy, Renovate and Sell Non-Owner-Occupied Property
Fix and flip are short-term loans used to buy and upgrade a property and then sold at a profit. Primarily for residential real estate, these loans are used for a wide range of improvements from smaller updates to a full home construction. These properties are frequently bought through a foreclosure, bank short sale, or auction or even on the MLS. Fix and flip loans are used to cover the upfront costs of improving the property before it is put on the market. Closing for these loans can occur in as little as 10 days versus 30 to 45 days for a conventional mortgage.
Loan Purpose
-Primarily for residential real estate (1 to 4 units).-Properties are frequently bought through a foreclosure, bank short sale, or auction or even on the MLS.
-Make improvements from smaller renovations to a full home construction before the property is placed on the market.
Investor Profile
- Short-term investors who want to earn a return on investment in a shorter time period (12 to 18 months) compared to long-term investors who hold rental property for years and collect monthly rent checks.
- Short-term investors who do not have access to sufficient cash to purchase a property.
- Provides financing to borrowers who may not qualify for conventional mortgages, cash-out refinances, home equity loans. or home equity lines of credit. These include self-employed borrowers.
Fix and Flip 100% Financing Loan Benefits
- Up to 100% of Purchase Price and Rehab Budget - NO DOWN PAYMENT
- Up to 70% of After-Repair-Value (ARV)
- No Personal Income or Employment Verification
- No Debt-to-Income (DTI) Requirements
- Deferred Maintenance allowed
- First-Time Investors allowed
- Loan Amounts up to $10 Million
- Interest-only Payments
- Loan Terms: 4, 8, 12 and 24 months
- Fast Funding - Close in two weeks or less
- No Prepayment Penalty
- Flexible credit requirements and terms
- Non-US citizens, permanent residents with green cards, and non-permanent residents with a valid work visa may qualify
*Fix and Flip Financing loan requires closing costs, reserves, three months of prepaids, and other associated expenses to be paid at closing, increasing funds needed at closing. Property must be sold or refinanced to pay off the loan. Does not include additional costs such as taxes and insurance premiums. Your actual payment obligation may be greater. Requirements and restrictions apply. Program subject to change without notice.
Why Partner With Us for Your Next Loan?
Whether you’re considering a first investment property or adding more properties to an existing real estate portfolio, we can help you select a loan program that meets your investment and overall financial goals.
Competitive Rates
Our company philosophy has been built around delivering the lowest possible interest rates and costs to our clients.
Flexible Terms
Loan is backed by the value of real property versus a borrower’s personal credit score and bank account funds.
Fast Funding
Close in two weeks or less versus 30 to 45 days for a conventional mortgage.
Get Started Today
Call one of our experienced mortgage advisors for no-cost loan consultation and rate quote.
