Fix and flip loans are the perfect tool for investors who are looking for finance their next purchase. Born of necessity, flip and flip hard money loans give real estate professionals access to capital in the matter of days, not weeks or months.

More than any types of investments, speed is the name of the game here – the faster you complete your fix, the quicker the flip and higher the rewards. Investors looking to get in and out quickly can utilize private lending to secure otherwise untenable deals (even ask for a cash discount) and secure the required capital required to renovate the property.

Yes – hard money loans are perfect for individuals with bad credit. Private lenders use ‘asset-based‘ lending as the underwriting criteria – so the focus is the real estate, not the individual. This means that as long as you get a good deal on the purchase – you have a good chance to get a loan for your next fix and flip project. Of course, good credit is better than a bad credit history – but unlike traditional loans, they are not a barrier to credit.

You can still qualify for a fix and flip loan if you:

Have Bad credit
Little or no credit history
Have a past bankruptcy on your record
Owe back taxes or have current liens against you

Terms for fix and flip loans will vary depending on many factors, such as property type, location, borrower's experience, and more.. Every property is examined on a case by case basis by our experienced underwriters and real estate professionals.

Loan terms that fit a single-tenant restaurant off a busy freeway are going to be different than financing for an office building in the middle of downtown New York City. Generally speaking, a typical transaction can expect the following terms:

• Interest rate - starting at 8%
• Term - Typically 6 to 24 months
• Origination and fees - 2 points and up - fees vary by property and loan parameters
• Interest-only payments
• LTV - Loan to value - up to 80% and 100% of renovation costs (for experienced borrowers with strong credit history)
• No income verification or taxes needed
• Closing in 2-4 weeks

By just answering the following 10 questions, our team can let you know right away if a transaction is feasible:

we will let you know if the transaction is feasible:

1. Property Address?
2. Property type?
3. If purchase, what is the purchase price and down payment available?
4. If refinance, what is the estimated value? And what is the amount owed?
5. Closing under entity (LLC or Inc) or personal name?
6. Amount of liquid assets available?
7. How many investment properties have been owned by borrower in the last 36 months?
8. What is the estimated credit score?
9. Is the property generating income?
10. Rate and term expectations?

After that, we would need:

• A signed loan application
• 4 months of bank statements (personal or business)
• Copy of purchase agreement (if purchase)
• Copy of recent mortgage statement (if refinancing a loan)
• Copy of recent credit report