Fix and Flip Loans – The Fastest Financing Option For House Flipping Business!

Fix and Flip Loans – The Fastest Financing Option For House Flipping Business!

A fix and flip loan is a short-term financing tool that enables a real estate investor to obtain the necessary capital to acquire, make repairs and improvements and then sell the property quickly for a profit. Fix and flip loans are also known as hard money rehab loans, investment property rehab loans or house flipping loans but the purpose of these loans remain the same. Fix and flip loans are either based on the current value of the property or the after repair value, but most of the fix and flip lenders prefer to loan on the current value of the property as this reduces their risk in the event that there are issues with the rehab of the property, the estimated after repair value was incorrect or the real estate market begins to decline during the rehab process.

Fix and flip financing is available from hard money lenders but not available from traditional lenders such as Banks. When applying for the fix and flip financing, the hard money lenders may consider the following about the borrower:

• Experience in real estate and fix and flip projects
• Purchase price of the subject investment property
• Amount of cash reserves available for holding costs and rehab costs
• Estimated after repair value of the property
• Estimated cost of the renovation

Why choose a fix and flip loan?

If you are an investor or flipper interested in buying properties that require all cash or hard money to fix and flip, then only a fix and flip hard money loan can help you out. Here are some significant advantages of fix and flip loans:

• Fix and flip private money loans provide up to 80% of the total project cost, which is the purchase price plus the cost of the rehab
• There no pre-payment penalty which allow you to sell the property as quickly as possible
• Fix-and-flip financing up to 12 months
• You can qualify for fix and loans with low FICO score or even if you’ve been turned down before
• Fix-and-flip loan rates between 7%-12%. All rates are based on the individual property and borrower. Call us to know more at (310) 734 4044
• Quick approval and funding, 24 Hours for Approval and 7 to 10 days for Funding
• Loan amounts: $500,000 to $50,000,000
• No limit on the number of properties
• Loans are available to individuals, trusts, corporations, and limited partnerships
• Single-family residence, 2-4 unit properties, condominiums and townhouses properties are eligible for fix and flip loans
• No hurdles- a very user-friendly and streamlined process
• No appraisal fees (in most situations) and no hidden junk fees

The Bottom Line:
Fix and flip loans are always the most attractive option for short-term financing requirements. If you want to get into the home flipping business but don’t have the cash on hand, a fix and flip loan may be what you need.

Magna Capital Group, Inc is one of the top private money lenders in California with over 35 years of experience in residential and commercial loans. We offer fix and flip loans on very competitive rates with quick approval and funding. We have proven to be reliable fix and flip lenders and earned many satisfied repeat clients.

For more information about fix and flip loans, Contact Magna Capital Group, Inc. now at (310) 734 4044 or email at info@magnaloans.com and get your hard money rehab loan funded fast.