Buy it, fix it, or buy before you sell.

Fix-and-flip

Short-term financing to buy and remodel a non-owner-occupied property, then sell it. These programs have been offered to investors at various experience levels, including files with lower credit scores, when the deal still makes sense.

• Purchase proceeds can go up to about 85% of cost, depending on the guideline.
• Construction / rehab proceeds can go up to 100% of the rehab budget, depending on the guideline.
• A common structure is a 12-month initial term with interest-only payments.
• Single-family and multi-family, non-owner occupied.

Bridge

Need to write an offer before the current house sells — or you got relocated on short notice? Bridge financing can use existing equity as the down payment on the new home, with the bridge repaid from the sale.

• Amounts have been offered as high as $2 million.
• Some structures do not require a monthly payment for up to 12 months.
• Often paired with financing on the new purchase.
• LTV commonly up to about 75%, depending on occupancy and amount.

DTI, equity, and credit still matter. Short-term money is not cheap money, and it is not a guaranteed close.