A short-term financing that real estate investors use to buy and renovate a property in order to resell it for a profit.
Fix and flip loans are a type of real estate financing that is specifically designed for investors who want to purchase a property, renovate or "fix" it, and then sell it quickly for a profit, or "flip" it.
These loans are typically short-term and have unique characteristics that cater to the needs of real estate investors. These loans are typically secured by the property you’re purchasing and renovating. Often there’s no penalty if you want to pay off the loan balance early.