Fix and flip loans help real estate investors finance the purchase, and renovation, of a property so that it can be flipped for a profit. Delancey Street can help provide fix and flip loans all across the USA for real estate investors. We have immense experience, and have funded over $100 million in fix and flip loans.
We offer fix and flip loans with rates starting at 7%. You can get funding in as little as 7 days, and there’s no prepayment penalty.
Below are some of the most common types of fix and flip loans.
hard money Loans – This is best for experienced investors who’ve done fix and flip loans already.
Cash Out Refinance Loans – Great for investors who have a property with 30-40% equity in it.
Home Equity Line of Credit – Good for investors who have an owner-occupied residence with over 30-40% home equity.
Investment Property Line of Credit – Investors who have equity in their rental property, and want to get cash out of it to rehab a current property, or to buy a new property.
Bridge Loan – Good for investors looking to purchase a property quickly without having to sell another one first.
Bank Loan – Good for investors looking to buy and hold properties.
1. Fix and Flip hard money Loans
These are the stereotypical hard money loans, which are short term loans that have been secured by real estate. These loans are used to purchase and then renovate a property. Investors usually will use a hard money loan in order to purchase, renovate, and then sell a property in 1 year. They are ideal for fix and flippers since these types of lenders finance properties in poor condition.
hard money loans have lower qualifications for approval than traditional banks. They help fix and flip investors get funding in 7-15 days. They are ideal for novice, and experienced investors alike. Hard money lenders care more about the property and it’s potential value than who the borrower is.