House flipping can be a lucrative investment opportunity for the real estate investor who understands the fast and competitive marketplace. But to succeed, you’ll need the right financing with the right terms.
Dominion Financial Services offers several loan products for house flipping, each with flexible terms and structures. As a private lender with extensive real estate investment experience, we provide fast approvals and quick access to funding. Get the right loan for your project with minimal hassle and maximum support from a team that understands your needs.
Loans for House Flipping
You’ve probably heard about fix-and-flip loans, hard money loans, and bridge loans, and wondered: What’s the real difference? Truth is, these terms are interchangeable—they essentially describe the same type of short-term financing, just emphasizing different aspects based on the needs of the investor.
Here’s how each loan highlights a unique benefit:
Fix-and-Flip Loans: Fix and flip loans focus on convenience. These loans typically bundle purchase and renovation expenses into one streamlined loan, simplifying the process and helping you close deals faster.
Hard Money Loans: This label underscores flexibility. Hard money loans are secured primarily by the value of the property, making them ideal for investors with less-than-perfect credit or those looking for a fast and straightforward approval process.
Bridge Loans: This term emphasizes speed and timing. Bridge loans help you quickly access equity tied up in one property so you can seamlessly transition into your next investment, especially crucial in competitive markets where speed can make or break your deal.
Comparing House Flipping Loans To Traditional Mortgages
House flipping is about speed and efficiency. Therefore, loans for house flipping take those goals into account with quick approvals and fast funding.
On the other hand, a traditional mortgage is about homeownership and long-term investment. The standards and expectations of mortgage lenders are in the livability of the property and the financial responsibility of the borrower.
Traditional mortgages can take 30 to 45 days or more to secure an approval. In-house flipping, that’s a death knell.
Why Work With Dominion Financial?
Dominion Financial Services understands the importance of fast approvals and funding. We offer house flip loans with no appraisals and up to 100% LTC. You can expect to close in 48 hours. Additionally, our team of experts will guide you through the process to ensure a smooth and hassle-free experience. If you’re ready to discuss house flipping financing or other loan options, contact one of our representatives.
