Get the funding you need to flip your next property.
A fix & flip loan is a type of short-term financing real estate investors use to purchase property, renovate it, and then turn around and sell it for a profit. Many individuals and businesses use these loans to buy distressed or undervalued properties, making improvements and renovations to increase the property’s overall value. Then, they sell the property off for a significant profit.
One of the key characteristics of a fix & flip loan is that it is a short-term lending option. In most cases, terms for these loans range anywhere from a few months to a few years. This is because these loans are intended for properties that will be bought, renovated, and sold relatively quickly.
Compared to traditional mortgages, fix & flip loans typically come with higher interest rates. However, our team at Upstate Bank will work hard to find you the best possible rate on your fix & flip loan, so you can make your next project as profitable as possible.
We have worked with many real estate investors in Upstate New York, and we can help you fund your next project quickly and effectively. Since fix & flip loans are designed for speed, we will help you through the approval and funding process as quickly as possible, so you have access to the capital you need to begin renovations on a property.
If you want to know more about securing a fix & flip loan, we would be happy to provide more information. Contact us today!