The 2024 spring homebuying season is about to begin, and the nationwide shortage of homes continues to loom large.
That’s making for a challenging market for homebuyers, but it presents an opportunity for property investors – and especially for fix-and-flip borrowers.
During the third quarter of 2023, investors flipped more than 72,000 houses and condos, according to ATTOM Data Solutions. Their average profit was $70,000.
Investors are still closing deals despite all the talk about a housing recession and an affordability squeeze. These investors need capital to finance, as well as a partner by their side during a risky transaction.
What are Fix & Flip Loans?
Enter LendSure’s Fix & Flip Home Financing Program. These loans are designed for investors looking to leverage the purchase and renovation of a property. LendSure’s investor Fix & Flip solutions are short-term loans aimed at entrepreneurs who intend to exit with the sale of the property or to refinance into a long-term rental DSCR loan.
With competitive rates and a focus on quick funding, LendSure empowers investors to swiftly execute their fix and flip strategies, ensuring a seamless transition from acquisition to exit. Whether aiming for a purchase and construction or a strategic refinance and construction, LendSure’s investor Fix & Flip solutions cater to the dynamic needs of your clients.
Why Offer Fix & Flip Loans
Adding Fix & Flip lending to your product line can help you bring in new business, build a niche, and diversify your client base. A tried-and-true advantage of Fix & Flip lending is that if you make a client happy, you’re all but guaranteed a steady stream of referrals and repeat business. Compared to the typical homebuyer who purchases every 7 to 10 years, home flippers are likely to come back for their next deal.
Home flippers are searching for smart solutions for their unique needs. LendSure’s Fix & Flip program can offer up to 85% of the purchase price and up to 100% of the construction cost on some loans. The total loan amount is up to 85% of the total cost.
Here’s a common scenario: Say an investor pays $400,000 for a property and expects to spend $150,000 on renovations. LendSure could loan up to 85% of the acquisition costs, and up to 100% of the construction costs. Check out this video for more information!
LendSure strives to deliver answers on Fix & Flip applications within hours, not days. Offering competitive interest rates all while working with those who have credit scores as low as 660. While we primarily serve single-family and multifamily properties, LendSure also considers mixed-use properties, on a case-by-case basis.
Loan officers and investors want to work with a trusted lending partner. LendSure fits the bill – we take a personalized, tailored approach that’s geared to meeting your needs.
The LendSure Way
It’s simple. We make loans that make sense. We’re not in-the-box lenders. Of course, there are numbers ratios, and data to consider, but we know that behind every file, there’s an individual with a unique circumstance seeking a loan. We work hard to offer our common-sense take on lending to borrowers seeking funding for the home of their dreams, another addition to their investment property portfolio, or refinancing of a currently-owned property.
Are you ready to benefit from a commonsense approach to lending? Contact us today to learn more about non-QM loans and how partnering with LendSure Mortgage Corp. can help grow your bottom line.