A Fix and Flip Loan assists shorter term real estate investors in leveraging a purchase of a property. These investors purchase property with the intention of renovating and reselling it for a quick profit. The sale of the property is usually completed within a year of the loan date.
Typical Items Needed for a Flip and Fix Loan:
- Loan Application
- Borrower Authorization
- Bank Statements
- Picture ID
- Loan Submission Form
- Home Owners Insurance
- Mortgage Statement for Payoff Information
- Purchase Agreement (Contract)
- Construction Budget & Plans
If Corporation:
- Articles of Incorporation
- Bylaws
- Statement of Information
- Form W9
If LLC:
- Articles of Organization
- Statement of Information
- Form W9
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