Flip Loan
I would like to purchase my first home as a flip property that I will live in temporarily as I remodel but will sell for profit in 90 days. Are there lenders that give loans for this specific type of purchase? by msusa439 from Atlanta, Georgia. Oct 18th 2018
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions
There are fix & flip loan programs. These will not be standard Fannie or Freddie loans.Best to consult with your local mortgage banker or broker. Institutional lenders will not have those loan products. Terms are higher due to the type of loan.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Yes.. but no conforming loan's allow you to do this.. meaning, you cannot use FHA, VA, USDA or Conventional. it would need to be non-conforming or hard money.. expect the rates and terms to be very tough.. large down payment requirement as well as higher interest rate and fee's.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893
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