A fix and flip loan is made for investors who want to buy a property, renovate it, and sell it for a profit. It helps cover both the purchase price and the cost of repairs.
These loans are usually short-term and designed to move quickly, so investors can act fast on good opportunities. Many offer flexible terms and may allow interest-only payments during the renovation phase to keep monthly costs lower.
Approval is often based more on the property and the project plan than on personal income, making it a useful option for experienced investors.
Have questions? We’re happy to walk you through how it works and see if it fits your next project.