Secure Your Real Estate Project With a Quick Fix and Flip Loan
The short-term house flipping loan, or fix and flip loan, is popular among organizations and individual real estate investors. HML Solutions provides such loans as hard money option, providing security through real estate as collateral. Once approved, you can use the funds to either purchase or renovate the property.
Working with our team, you can have a say in the structure of your loan terms. Our skilled professionals can help you identify and customize a loan solution that addresses all of your project needs, from the initial purchase, through renovation and construction costs, to the final sale of the property for a potential profit.
Why Trust Us
HML Solutions is a hard money lender specializing in fix and flip loans. Primarily, customers are seeking out acquisitions loans or funds to purchase a property, but sometimes, clients come to us with the right project for a fix and flip opportunity.
Our experience in the real estate market is what makes us more attractive than more traditional lenders. We understand the need for quick approvals. We also know about struggles with individual credit scores, which is why our process is focused more on property values and project projections.
When you apply with us, you have a loan partner interested in your success. We can help throughout your project, potentially arranging rehab estimates, arranging a draw schedule, and providing flexible terms for easy transitioning into a permanent loan, if necessary.
Understanding the Difference Between Traditional and Fix and Flip Loans
Traditional bank loans are stuffy and challenging to obtain. Most personal or construction loan programs through banks depend heavily on the applicant’s creditworthiness rather than the property and project value. Because of all the paperwork, rules, and regulations, loan approval through traditional institutions can take weeks, meaning that you potentially lose out on real estate opportunities.
A hard money loan, like we offer, does not depend solely on the borrower’s credit. Instead, property secures the loan as collateral. Because property value is more important than creditworthiness, we can quickly move through the application process, often providing preliminary approval within 24 hours.
Fix and Flip Loans for Beginners
While we primarily deal with organizations and experienced real estate investors, that does not exclude beginners. If you are a first-time flipper, we are still interested to hear about your project, but make sure that your project details are complete and accurate.
Most newcomers to real estate investing underestimate their needs and the difficulty of the rehabilitation project. As a seasoned lender, we understand the market’s intricacies, and we know when someone does their homework.
As a first-time investor, we urge you to take your time and get the details right, but we also encourage you to come and talk with us. We are more than happy to help you on your road to real estate success.
Types of Eligible Properties
As a fix and flip loan provider, we are primarily interested in residential properties. However, that does not mean we do not consider commercial properties. Many residential properties can be used as commercial investments. The properties we typically provide loans for are as follows:
- Single-family homes
- Multi-family units
- Other home types518
Advantages of Our Loan Program
When comparing our loan program to other more traditional lending institutions, such as banks, there are many advantages. Our process is significantly quicker. Turnaround times can happen within days rather than weeks, meaning you do not miss out on that property you’re interested in.
A credit score is not a barrier to loan approval. As a hard money lender, we are more interested in property value and borrower experience or project plan. Banks do not place as much weight on experience as we do.
As a private lender, we are not as restrained by regulations and oversight as banks and other lenders, meaning that you do not have to provide overwhelming amounts of paperwork. As a private lender, we also have flexibility over our approval process and your loan terms, meaning that you have more say in the process.
- LOAN AMOUNTS: $50K – $50M+
- LOAN TYPES: Single Family, Multi-Family, Bridge Loans, Real Estate Acquisition, Short Sales, Construction Loans, REOs, Bank Foreclosed Properties
- LTV: Up to 75% of the as-is value or purchase price (whichever is lower)
- TERM: 1 – 5 Years
- RATE (APR): 6.99% – 12.00%
- CLOSING: 1 – 2 Weeks
- AMORTIZATION: Interest only
If you are in the market for a quick fix and flip loan, contact a HML Solutions representative. Our skilled team will walk you through the application process and get you a preliminary decision within 24 hours.