HardMoney Fix and Flip Loans
The HardMoney Company provides individuals as well as organizations short-term house flipping loans and hard money fix and flip loans. These loans are also known as fix and flip loans because they are short-term finance loans that are secured by real estate, and used to purchase and renovate a property. Our team works directly with you to help create a custom structure loan that provides you with flexible terms that will help you complete your project. This will make it easier and quicker for you to buy a property, fix it up, and then sell it for a profit.
The HardMoney Company specializes in making and servicing fix and flip loans and house flipping loans. Most of the time we will lend you the acquisition funds, however, in the correct circumstance, we may be able to arrange a portion of the rehab estimates. Those funds will be paid out to you in draws as the work progresses. It is important to reach out to our team as soon as possible to apply for our loan offerings and to learn how we can help with your project.
Read our beginner’s guide for more information on how to start flipping houses.
Why Should You Choose HardMoney Company?
Short-term house flipping loans are a great option for experienced investors as well as those who are new to the space. Typically, the most difficult part of the process is generating the capital for the initial property purchase. Oftentimes getting a bank loan isn’t a great option because the rates offered aren’t a great fit for a short-term flipping project.
Fix and Flip Loans at a Glance
| Topic | Answer |
|---|---|
| Types of Property: | Single Family Homes, Multi-Family Residents |
Loan Values: | $50k Minimum – No Maximum Loan Amount |
Loan Term Length: | 6 – 18 months |
Average Interest Rate: | 8% – 15% |
Loan-To-Value (LTV): | Up to 80% |
Funding Time: | Can close deals as quick as 7 days |
What Are Fix and Flip Loans?
HardMoney Company’s House Flipping Loans and fix and flip loans are short-term loans, secured by real estate, and used to purchase and renovate property. Our Fix and Flip loan will allow you to buy a property, fix it up and sell it for a profit. This type of loan is a great option for investors because of the quick turnaround time and the flexibility that isn’t possible with other types of loans.
100% Fix and Flip Loans
Currently, the HardMoney Company does offer 100% fix and flip loans, but requirements are very strict. Most of our fix and flip loans require 10- 20% cash down from the client. However, our team is always open to discussing various and unique options to get the deal closed. We can provide clients with fix and flip loans for all their real estate projects.
Are House Flipping Loans a Good Idea for Beginners?
House Flipping loans are utilized by seasoned real estate investors as well as those who are new to real estate investing. Our team has experience providing hard money fix and flip loans for beginners and is available to discuss the possibility of receiving a house flipping loan no matter your level of experience. We are committed to helping our clients avoid the pitfalls of real estate that novice investors often experience. We only fund fix and flip loan deals that have a high likelihood of positive returns.
What Other Types of Loans Does HardMoney Company Offer?
Our team provides a variety of different loan types to help with your project. We offer the following loan types as well other options:
Hard Money House Flipping Loans vs. Traditional Loans
There are many differences between a house flipping loan and a traditional bank loan. One being that a hard money house flipping loan requires only a fraction of the paperwork that a bank loan does. Another is a bank loan can take up to 90 days to close, and a hard money house flipping loan can close in a quickly as one week. Also, a house flipping loan can provide renovation money to fix up the property, traditional loans will not do that and a hard money house flipping loan does not cap the number of properties you can finance. House Flipping loans do not require the property to be in livable conditions as a bank loan does and they are rarely based on the borrowers credit but rather the value of the property. There are many benefits and differences between these two types of loans. A hard money house flipping loan is quicker requires less paperwork and looks at many different factors of the property and borrowers objectives
Fix and flip financing approvals are dependent on the deal, your experience, the property, and the exit strategy. We will assist in helping throughout your “flip” deal to ensure your success.
Recent Properties Funded by Fix and Flip Loans From The HardMoney Company
Silver Spring, MD | Loan Amount $383k
Washington, DC | Loan Amount $466k
Temple Hills, MD | Loan Amount $272k
Washington, DC | Loan Amount $355k
Fix and Flip Financing FAQs
The HardMoney Company primarily operates in the Washington DC metropolitan, Southeast Florida, Kentucky, Ohio, and Indiana markets. Our team is capable of financing fix and flip loans nationwide so we recommend you apply to get connected with our team.
The 70% rule is a calculation of the maximum amount a hard money lender would loan against the value of the property. For example, for a $100K loan the max you could receive is $70K.
Our team provides loans for a variety of different home types such as the ones below:
- Single Family Home
- Townhomes
- Multi-Family Units
- Apartments
- Condominiums
- And other home types
The average interest rate for a fix and flip loan will vary depending on the type of deal, type of property, loan value, the borrower's experience, and other factors. Typically, our fix and flip loan interest rates will range from 8% to 15% but we recommend reaching out to our team to get a more exact interest rate for your next project.
Our team of lenders has worked with a wide range of different projects that ranged from $50,000 in capital funding to over multiple million dollars in loan financing. Our team will work with you to provide you with the capital you need for your next house flipping project. Typically, we require a minimum of $50,000 and don’t necessarily have a maximum loan amount. Reach out to our team to learn how we can help you secure fix and flip financing for your next project.
Apply Now to see if your project is eligible.
The amount needed varies by property depending upon the renovation estimate.
