Fix-and-Flip Loans
What is a Fix-and-Flip Loan?
A fix-and-flip loan is a short-term loan designed for real estate investors who buy properties, renovate them, and then sell them for a profit. These loans provide funding to cover both the purchase price of the property and the costs of repairs or improvements. They are typically faster to secure than traditional loans and focus more on the property’s value after renovations rather than the borrower’s credit score. This makes them a great option for investors looking to quickly buy and renovate properties without using their funds for the entire project.
Quick Approval and Funding
One of the standout features of fix-and-flip loans is the quick approval and funding process. Unlike traditional loans, which can take weeks or even months to close, fix-and-flip loans are designed for speed. This rapid turnaround time is crucial for real estate investors who need to move quickly to secure a property before it gets snapped up by another buyer. With a streamlined application process and less bureaucracy, lenders can approve these loans in as little as a few days, enabling investors to start their projects without delay. Quick funding also means that you can immediately begin renovations and work toward selling the property at a faster pace, maximizing your investment’s potential.
Flexible Qualification Requirements
Fix-and-flip loans offer flexible qualification requirements, making them accessible to a broader range of investors, including those who may not meet the strict criteria of conventional financing. Lenders primarily focus on the value of the property and the projected after-repair value (ARV) rather than the borrower’s credit score or personal income. This allows experienced investors, or those with limited credit history, to qualify for the loan based on the property’s potential profitability rather than their personal financial situation.
Covers Renovation Costs
Another key advantage of fix-and-flip loans is that they cover renovation costs. This is essential for investors looking to purchase distressed properties that require significant work before being sold. The loan amount typically includes not only the purchase price of the property but also funds specifically allocated for repairs and upgrades. This means investors don’t need to dip into their own savings or find additional sources of capital to complete the renovations.
Short Loan Terms
Fix-and-flip loans come with short loan terms, typically ranging from six months to two years. This is ideal for investors looking to flip properties quickly and efficiently. The short loan duration aligns with the investor’s goal of purchasing, renovating, and selling the property within a relatively brief time frame.
Contact Mass Hard Money
Whether you’re an experienced real estate investor or new to the industry, Mass Hard Money is your trusted partner for fix-and-flip loans in the Boston, MA area. We have you covered when it comes to fast capital because we understand the fast-growing market. Call us today at (617) 892-9099 or by filling out our contact form to discuss your financing needs and discover how we can help you achieve your real estate goals.
Commonly Asked Questions
What is a fix and flip loan?
A fix-and-flip loan is a short-term, asset-based loan designed to help real estate investors purchase, renovate, and quickly resell a property for profit. These loans focus on the property’s value, not personal income.
How fast can I get funding?
Mass Hard Money can fund deals quickly. Often within 7–10 days, and sometimes faster for repeat borrowers or straightforward properties. Contact us to discuss your project.
What locations do you lend in?
We provide fix and flip loans throughout Boston, MA, and surrounding Massachusetts communities, including Greater Boston, North Shore, South Shore, MetroWest, and Worcester County.
Do I need perfect credit to be approved?
No. Fix and flip loans are asset-based, meaning approval depends more on the property and project than on credit scores. Credit is considered, but flexibility is built in.