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Options available for the fix and flip loans Georgia

Baker Collins is a leading company of commercial lending Atlanta, fix and flip loan product. The most popular real estate financing options at Baker Collins is our Fix & Flip Loans Georgia. For more details visit our official site or contact us.

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Options available for the fix and flip loans Georgia

  1. 1. Fix and Flop terms are used by short term real estate investor to purchase and renovate a property before flipping it for a profit. This type of financing for flipping houses suggests investors fast closings for properties in any condition. The most popular type of fix and flip loans are hard money loans. Commercial lending Atlanta offers fix and flip loans to investors with competitive rates. You can pre-qualified in minutes so that you can see your exact rates and receive funding in as little as 15 days. Moreover, there is no prepayment penalty for early repayment. Options Available for the Fix and Flip Loans Georgia
  2. 2. Types of fix and flip loans, Georgia 1. Fix and Flip Hard Money Loan Hard money loan is a short term loan secured by the real estate and used by the fix and flippers to purchase and renovate a property. This hard money loan is basically used by the investors to purchase, renovate and sell a property. They offer competitive rates to prime borrowers and can get you pre-qualified online in a few minutes. Types of Rehab Loans 1. Hard Money rehab loans 2. Short Money rehab loans
  3. 3. Short-term investors use hard money rehab loans to purchase a property quickly, renovate it and sell. Long-term investors also use them to rehab and season a property before refinancing. Permanent rehab mortgages are used solely by long-term investors. Hard money loan rates and terms are: Term: 1 – 3 years Time to Funding: 15 days Rates: 7% – 12% Lender Fees: 1.5% – 10% Closing Costs: 2% – 5% 3. Loans for Homes: The huge distinction is a home value advance furnishes you with the money forthright, and you pay regularly scheduled payments over the length of the loan as you do on your first home loan. With this you access the money in small chunks over the life of the loan. Since, you are getting the entire loan amount in advance, so it is better to opt for a home equity loan that is generally a better financing option when purchasing and flipping a house. In addition, the interest rate is fixed and honestly low as compared with hard-money loans or credit cards. Commercial lending Atlanta provides loan facilities for the homes.
  4. 4. 4. Refinance: If the value of your primary residence has improved, then cash-out refinance is best financing option for your flip. Your new loan will be the amount you still owe on your mortgage plus the cash you wanted to take out. To qualify this type of loans, you need to qualify minimum 640 credit score, maximum 45% debt-to-income ratio, and minimum 30% to 40% of equity in your existing home. Moreover, if you are refinancing to a higher mortgage rate, then you need end up with paying more amount of money in interest on your loan over a long run. offer this facility to their clients. You can consult with Fix and Flip loans in Georgia to purchase and renovate by the short- term real estate investors before flipping it for a profit. CONTACT US: Phone: +1 770-988-4537 e-Mail: loans@bakercollins.com