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Home mortgages article
Flipping Properties and Mortgages
Loan Basics
There are many new types of mortgage loans available to borrowers.
Real estate investors who flip properties quickly usually want the maximum cash return for the minimum amount invested.
One of the ways a property flipper can minimize their cash is to minimize or avoid making a down payment.
There are mortgage lenders that now offer borrowers 100% rental property financing. By investing nothing down a property flipper can deploy their home mortgages capital more aggressively across more projects.
Some mortgage lenders have a cap on the total number of rental properties a real estate investor can own at any one time.
Many lenders who offer 100% rental property financing may require a borrower to document income, assets, or other items.
Check with your specific lender on what the loan requirements are.
Payment Type
You also have several loan options.
If you get an interest only option your monthly payment will be lower than a home mortgages regular payment.
You may also be able to get a minimum payment option loan. This will give you a very low payment.
Also watch out for a prepayment penalty. Make sure if you are flipping the property that you will not face a prepayment penalty. This could end up costing you a lot so make sure the loan officer is clear with you about this up front.
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