Hard Money Lenders » Fix and Flip Loans

Fix and Flip Loans

Fix and flip hard money loans, also known as bridge loans, rehab loans, and BRRRR loans, are short term financing tools for real estate investments. Intrust Funding specializes in fix and flip loans. In fact, investors and developers can typically receive same-day prequalification and their first loan draw within 48 hours of closing!

Fix and Flip Loans for Beginners

No Prepayment Penalty

No Minimum Credit Score

Up to 90% LTV

5-12 Month Terms

Fix and Flip Financing

Fix and flip loans are short-term, real estate loans designed to help an investor purchase and renovate a property in order to sell it at a profit—generally within 12 to 18 months. Some investors use more conventional loans and lines of credit to finance their projects, but most fix and flip loans are hard money loans from individuals or private investors.

Fix and flip loans are most often used to purchase residential properties at auction or foreclosure, to finance renovations and upgrades, and to cover other expenses associated with the ownership of the property.

Fix and flip hard money loans, also known as bridge loans, rehab loans, and BRRRR loans, are short term financing tools for real estate investments.

Fix and flip loans are typically utilized to renovate properties in disrepair. As real estate investors purchase a distressed or foreclosed property, fixer upper loans fund investors who rehab damages and “flip” the property from a disreputable eyesore to a profitable asset. And these loans allow borrowers to maintain a strong cash position. Financing for flipping houses through flip loans provides a substantial ROI for investors through:

Minimizing renovation expenses;
Maximizing property market value;
Quick turnover time.

Since foreclosed or distressed properties typically enter the market as low cost acquisitions and are bought by seasoned real estate investors quickly, it can be difficult for anyone but local, capital-rich investors to find and close deals on these valuable opportunities. The advantage of loans for flipping houses in this circumstance is significant.

Prequalify Today!

Lending Amount

Intrust Funding can lend on up to 90% of the investment’s after repair value (ARV), and offers loans for property acquisitions, rehab costs, or both.

Term Length

Although all situations have unique requirements and we are able to adjust our metrics based on your goals, typical loan term lengths range from 5 months to 12 months.

Loan Security

With an in-house MBA in Real Estate who maintains a greater than 98% accuracy on ARVs, we underwrite all our own loans.

Fix and Flip Loans: The Hard Money Advantage

 

Read More

Fix and Flip Examples

Fix and Flip Investing & Intrust Funding’s Hard Money Loan Solutions

Recently Funded

Fix and Flip Funding: When It’s the Best Option

Despite the tremendous potential in distressed and foreclosed properties, many do not meet FHA lending guidelines. For real estate investors, this unfortunately means many large, federal programs are unavailable fund sources for these situations. Before private money lenders, that meant unharnessed potential was ignored.

Intrust Funding specializes in fix and flip loans. In fact, investors and developers can typically receive same-day prequalification and their first loan draw within 48 hours of closing!

Borrower Situations

  • Need Financing Quickly
  • Mortgages on Other Properties
  • Property Doesn’t Meet FHA Requirements
  • Low Current Value, High After Repair Value Investment
  • Fix and Flip
  • Buy and Hold
  • Low Credit Score
  • Leveraging Assets to Invest
Variable Bank Intrust Funding
Basis for Loan Approval Income Proof, Credit Score, Tax Returns, Appraisals, etc. Real Estate Assets, LTARV
Minimum FICO Credit Score 700+ None
Property Type Owner Occupied Nonowner Occupied
Upfront Fees Appraisals, Application Fees, etc. None

Borrowers:

  • Non-owner Occupied
  • Builders, Developers
  • Legal Entities
  • Foreign Nationals
  • Property in Probate, Heirs

Property Types:

  • Single-Family Residence
  • 2-4 Unit Residential
  • Condominiums and Townhomes
  • Condo Unacceptable to Fannie Mae/Freddie Mac
  • Mobile/Manufactured Homes
  • Few Comps: Dome, Berm, Log, Historical, Ultra-Modern, etc.
  • Non-Owner, 1-4 Units, Zoned Other than Residential

Acceptable Loan Scenarios

  • Purchase
  • Rate & Term Finance
  • Cash-out Refinance
  • Blanket Loans
  • Bridge Loans
  • Business-purpose Financing
  • Fix-and-Flip
  • Construction/Renovation Completion
  • OK: Foreclosure, Bankruptcy, Short Sale, NOD, NOS
  • Notes Purchased
  • Equity Only (No Credit Nor Asset Checks)
  • Seasoning: Non Required, Non-Owner Occupied
  • Second Mortgages/Trust Deeds
  • Third/Fourth Mortgages/Trust Deeds