Get short-term financing for your next venture.
Sometimes, you only need financing for a short period of time to bridge the gap between the acquisition of more capital or because a project only lasts for a short duration. In cases like these, a flex I/O loan may be a good option.
Many real estate investors in Upstate New York use flex I/O loans to acquire or leverage real estate holdings. While a flex I/O loan has a higher loan-to-value (LTV) ratio than other hard money options, they typically only last 24 months or less. And throughout the duration of the flex I/O loan, you only make payments on the interest.
At Upstate Bank, we often recommend a flex I/O loan to real estate professionals interested in purchasing new property or completing a cash-out refinance. These loans usually do not come with prepayment penalties, and they are a good option if you need access to capital quickly and only for a short period of time.
Our goal is to make the lending process easy. Turn to us, and we can help you quickly apply for a flex I/O loan. We will give you notice of approval shortly after that, and then we will move forward with funding your loan.
If you are interested in a flex I/O loan, we would be happy to answer any questions you have about this lending solution. Contact us today to speak with one of our lending professionals and start the application process for a new loan.