Fix and Flip Loans

Fix and Flip Lenders in California

RTI Bridge Loans offers a wide variety of loans that will help suit your needs appropriately and for every occasion. One of these loan types is called ‘fix and flip’ loans, which is a short-term loan used by real estate investors to purchase a property, renovate it, and then flipping it for a handsome profit. RTI Bridge Loans have proven to be professional fix and flip lenders providing reliable service in California serving Los Angeles and Orange County. We are proud to offer quick approval and funding for fix and flip loans with competitive rates. Fix and flip loans are a type of hard money loan. Keep reading to learn more about these types of loans and how we can help you fix and flip a property with fast funding!

30 Years Of Experience
30 Years Of Experience

Partner with one of the most reliable and professional direct hard money lenders in California with over 30 years of hard money lending experience.

Fast Approvals And Funding
Fast Approvals And Funding

Quick approvals and direct funding when time is off the essence and need capital on critical opportunities in this fast-moving real estate market.

Leverage Your Money
Leverage Your Money

Maximize Leverage with our financing up to 70-80% LTV of the residential, commercial or mixed project at competitive hard money loan rates.

Background

Recent Deals

We Fund California Real Estate Projects

RTI Bridge Loans, one of the most experienced direct hard money lenders in California serving Los Angeles and Orange County. We fund hard money loans to Real Estate Developers and Investors, regardless of the size or a challenge of the project, ranging from Bridge Loans, fix and flips to Private money Loans and commercial acquisitions. We provide quick approval and funding with competitive rates and reliable service through asset-based lending for various real estate projects and transactions.

Hard Money Loans Real Estate California

Get a Free Loan Quote

What Are Fix And Flip Loans?

Fix and flip hard money loans are short-term loans given to real estate investors by fix and flip lenders. The end goal of flipping and fixing is to have a fully renovated property within a year (usually) and sell it for double or triple the original buying price. These loans allow to get finance for properties that are in poor condition, making them ideal for fix and flip projects. Approval qualifications are few and slim – fix and flip lenders are more concerned with the potential value of a property rather than the borrower’s background check.

Fix And Flip Hard Money Loan Terms, Rates, And Qualifications

With lower approval qualifications in general, fix and flip loans have minimal needs and maximum benefits. As an added bonus, most fix and flip lenders only take a week or two to provide the funds you need. The loan rates are higher than traditional bank loans because the loan term is shorter, usually only 12 months long. Interest rates usually start around 7.5% and can go up to roughly 12%, depending on the loan term (6 months to 3 years).

Monthly payments are interest-only, and the last lump-sum is paid off at the end of the loan term. Fix and flip lenders usually finance 90% of the property’s LTV (loan to value ratio) and 75% of the property’s ARV (after repair value).

Borrowers should have a credit score of at least 600, have some experience in fix and flip projects, and a debt to income ratio of 35% to 45%. The better the credit score and experience you have makes you more trustable, but as we mentioned earlier, a lot of borrowers’ credentials are overlooked because the lender is more interested in the value of the project.

Who Benefits From Fix And Flip Loans

Both the lender and the borrower benefit from fix and flip loans. And, you don’t have to be a borrower with tons of flipping experience to be able to reap the benefits. In fact, fix and flip loans are great for real estate investors who have 2-3 projects under their belt, first-time investors who have help from a private contractor, and fix and flippers that are competing with all-cash buyers.

Contact RTI Bridge Loans today to learn more about the benefits of fix and flip financing.

Where to Get Fix And Flip Financing Solutions In Los Angeles And Orange County

Fix and flip loans are provided by hard money or fix and flip lenders. Lenders are usually found in person at a firm or online. Online lenders have a prequalification process that usually takes a day, with full funds received in only 1-2 weeks. RTI Bridge Loans is one of the professional hard money lenders serving Los Angeles and Orange County, offering very competitive rates and reliable service for prime borrowers. Prequalification only takes minutes, and you can have your funds within a short two weeks.

Final Thoughts

Fix and flip projects are fun and challenging, but getting the proper funds for your project may seem pretty daunting. If traditional bank loans have you feeling tangled up, or you might have blemishes on your credit report, it might be time to opt for a hard money loan. These loans look beyond your past and help you build a better future. Though they have higher interest rates, the loans are created for a short-term timeline, and you only have to pay the interest rate every month. Think of fix and flip financing in the form of hard money loans as your gateway to being able to start your projects and finish them with ease. Call RTI Bridge Loans today for your own fix and flip financing needs!