Fix and
flip.
Short-term financing for the purchase and the rehab.
The program
Buy it, fix it, sell it. Then do it again.
A fix and flip loan is short-term financing for investors who buy a property, renovate it and sell it. It can cover the purchase price and the rehab budget, with the renovation money paid out in draws as the work gets done.
These loans are built for speed, so you can make offers that compete with cash buyers. Lenders look closely at the deal: the purchase price, the rehab budget, and what the home should be worth after the work.
What to know
Four things to know about fix and flip loans.
- 01
Built for speed
Closings can move faster than on a standard mortgage.
- 02
Draws for the work
Rehab funds are released in stages as the work is inspected.
- 03
The after-repair value
Lenders look at what the home should be worth when it’s finished.
- 04
Experience helps
Investors with past flips may see more options.
Working with Vadim
One broker, from the first call to the closing table.
Talk it through
A call about the property, the numbers and how you plan to exit.
Apply once
One application, while Vadim looks at several lenders.
Vadim shops the loan
As a broker, he compares programs from multiple lenders and brings you the options.
Close
He stays with you through underwriting, the appraisal and closing.
Loan programs
Three ways to fund the next deal.
For flippers, landlords and developers. Buying a home to live in? See the home loans.
