Skip to main content
Back to LendSure Blog

Lendsure’s Fix & Flip Program Drives Repeat Business

September 20, 2023

U.S. home sales volumes remain soft– existing home sales were off 19% in June 2023 compared to a year earlier, the National Association of Realtors (NRA) reports.

That’s largely because mortgage rates have surged to 7%, or twice where they were two years ago.

And yet home values have remained strong. That’s largely because there just aren’t enough homes for sale. There was just a 3.1-month supply of existing homes for sale, NAR says. Because inventories are tight, the median sale price in June was $410,200, the second-highest monthly figure ever. Meanwhile, the combination of high mortgage rates and lofty home prices has made affordability a challenge.

All of that is good news for property investors, particularly fix-and-flip borrowers. This type of investor remains active—according to ATTOM Data Solutions, more than 400,000 single-family homes and condos in the United States were flipped in 2022.

Those investors are looking for help. They need to finance deals, and they also need someone to partner with them through their transaction.

Enter LendSure’s Fix & Flip Home Financing Program. These loans are tailored for investors who want to leverage the purchase and renovation of a property. It’s a short-term loan, so our investor Fix & Flip solutions are created for entrepreneurs who intend to exit with the sale of the property or to refinance into a long-term rental DSCR loan.

Offering Fix & Flip loans through LendSure can help you expand your client base, build a niche and diversify your book of business. One great thing about creating long-term relationships with property investors is that this group of clients keeps coming back. The typical American homeowner won’t be moving or refinancing for a while, but flippers do deals annually, or even more frequently.

Not only are home flippers still doing deals as sales have closed, but these clients are also searching for smart solutions for their unique needs. LendSure’s Fix & Flip program offers 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. (Full disclosure: The program does not offer 85% and 100% of the construction cost on every transaction. Contact a LendSure Account Executive to discuss your client’s circumstances.)

Here’s a common scenario: Say an investor pays $300,000 for a property and expects to spend $100,000 on renovations. LendSure would loan up to 85% of the acquisition costs, or $255,000, and up to 85% of the renovation costs, or up to $85,000. This video gives an overview.

We strive to deliver an answer on Fix & Flip applications within hours, not days. We work with clients with a credit score as low as 660, and our interest rates are competitive.

The LendSure Way

It’s simple. We make loans that make sense. We’re not in-the-box lenders. Of course, there are numbers and 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 grow your business? Conventional loan approval guidelines can be restrictive, but we want to offer our mortgage broker partners the education, tools, support, and guidance they need in order to say “yes” to more of their clients.  This ensures happy borrowers and opportunities for bottom-line growth. What are you waiting for? Let’s get started!

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.

Contact Us: (888) 707-7811