Fix and Flip Loans

Short term financing for non-owner occupied properties with up to 90% financing of purchase price and 100% on rehab.

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The cash you need to close more deals faster!

Three reasons why BridgeWise is the π‘Ύπ’Šπ’”π’† choice

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Speed

Get funded within 24 hours, minimal documents required

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Amount

Loans up to $15,000,000+ and 80% ARV

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Cost

Competitive rates to ensure maxmimum profits

Financing for flippers: What is a Fix and Flip loan

A fix and flip loan, tailored for residential real estate, is designed for investors aiming to purchase distressed properties, renovate them, and resell them within a short 6 to 9-month window. These loans are the lifeblood of successful real estate ventures, as they enable investors to:

  1. Minimize Renovation Costs: By providing the capital needed to cover repair and upgrade expenses efficiently.

  2. Maximize Property Value: Facilitating enhancements that increase the property's market value.

  3. Expedite Sales or Rentals: Ensuring a swift turnaround in reselling or renting the property.

In this dynamic real estate market, prime opportunities arise unexpectedly, and BridgeWise Lending is your ideal partner. We understand the urgency of fix and flip investments. Cash and speed are paramount. Our fix and flip loans provide investors with the financial resources to implement their strategies and make compelling, quick offers.

Whether you are an experienced investor or just starting in the real estate game, BridgeWise Lending offers you a competitive edge. We empower you to compete effectively in this fast-paced market. Don't miss out on lucrative single-family home deals. Apply now with BridgeWise Lending, your trusted partner in the fix and flip real estate journey.

Most common uses

Our fix and flip loans are typically applied to, but not restricted to, the following scenarios:

  • Purchase and rehabilitation of bank-owned (REO) properties

  • Short sale property acquisitions with rehabilitation

  • Solutions for those who don't meet conventional financing criteria

  • Refinancing of short-term loans for flipping purposes

  • Portfolio loans and options for multi-property projects

Fix and Flip / Bridge Loan terms

Loan Information Details
Interest Rates As low as 8.99%*
Loan Amount $100K to $15MM
Loan-to-Purchase Price Up to 90%
Loan-to-After-Repair Value Up to 80%
Loan Terms 6-24 months 
Rehabilitation Financing 100% of rehab cost
Fees No Application Fee, No Appraisal, No Income Verification

Documents

Before initiating your fix & flip real estate venture, it's essential to grasp the loan options available and select the most suitable one for your needs. Traditional mortgage loans for primary residences differ significantly from bridge loans tailored for property rehabilitation. While traditional mortgage underwriters typically avoid financing non-owner-occupied fix and flip projects, bridge loan underwriters steer clear of owner-occupied homes. Therefore, if your plan involves fixing and flipping a property before renting or selling it, you'll need to secure a lender experienced in underwriting such loans.

Lenders specializing in fix and flip real estate loans primarily focus on leveraging real estate as debt collateral, aiming for repayment within a short timeframe, typically 6 to 12 months. Hard money loans, commonly used for house flipping, serve as bridge financing until longer-term financing becomes available.

These loans typically cover the entire project cost, including the property purchase and renovation expenses. Maximum loan amounts vary by lender and are often calculated in two ways:

  1. Loan-to-Cost (LTC): The loan amount as a percentage of the anticipated project cost.
  2. Loan-to-Value (LTV): The loan amount as a percentage of the property's projected value post-repairs.

In the current lending environment, as of September 2020, private real estate lenders typically extend loans up to 70% of the loan-to-value (LTV) ratio. This figure is expected to revert to normal rates of 80 to 90% LTV once the economy fully rebounds from the COVID downturn, though specifics may vary by lender.

So, what documentation will you need to secure your fix & flip loan with BridgeWise Lending?

  1. Bank statements for yourself and/or your business.
  2. A copy of your driver's license or government-issued ID.
  3. An LLC operating agreement.
  4. An executed sales contract for the property.
  5. Photos of the property.
  6. A list of any other properties owned by you or your business.
  7. Deed of Trust – A document that, when recorded, places a lien in the amount of the loan against the property that is collateral for the loan.
  8. Documentation of other real estate rehab projects that you've completed.
  9. Two years of your personal tax returns.
  10. Copies of your W2 forms.
  11. One month of pay stubs.
  12. Repair estimates from a licensed contractor.

Some lenders may require fewer documents, but it's wise to be prepared with the necessary paperwork before applying. Gathering these documents may take time, but it's crucial for the success of your project. BridgeWise Lending's loan professionals can offer guidance and assistance throughout the process. If you're ready to secure financing for your next project or need guidance, feel free to reach out to one of our loan specialists 

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