Hard Money Loan
Frequently Asked Questions
Traditional home mortgages generally pay down payment and interest-on their own for up to 15 years, while fixed and flip loans offer investors an interest-free repayment period of six to 24 months. The majority of fixed and flip loans don’t charge early payments fees, so a borrower may be able to pay for the balance as a result of selling their home immediately.
Despite these differences, the loan types are very different. see bridge loans. Typically a bridge loan is used when buying or renting a house before obtaining secured financing. Fix and Flip loans are mostly used for repairing and flipping properties.
Fixed and flip loans generally offer terms of 12 to 36 months with interest rates between 7 and 12%.
Flipper Loans are a program specifically designed for a buyer who wants maximum loan to buy or repair an investment property. After purchasing the property, the flipper loans allow property investors to use the same strategy for their investment.