Can I Get a Mortgage to Flip a House in Austin, TX?

Did you know that Austin, TX is one of the hottest places to house flip in Texas? According to Orchard, houses are averaging less than a week on the market, with some homes selling within four days. So now that you’ve decided to join the fix-and-flip market, the next step is to find a trusted Austin mortgage broker to help fund your project.

Note that conventional mortgages are best for long-term residence, making them ill-suited for investment property loans like a fix-and-flip. With this in mind, let’s take a look at conventional mortgage alternatives to fund your fix-and-flip.

What are fix and flip loans?

An Austin, TX fix and flip loan is a short-term loan designed to help investors buy and renovate a property to sell it for a profit within 12 to 18 months. Funds from this type of loan can be used for renovating your fixer-upper. 

Despite the higher risk involved, fix and flip underwriters provide loans to investors since most property flips are completed in 12 to 18 months. This means that all interested parties can see a return on their investments faster than conventional loans. 

Advantages of Fix and Flip loans

An investor who bids on a foreclosed or auctioned Austin, Texas investment property needs to have funding quickly. Traditional mortgages won’t cut it since they take more than a month to close. On the other hand, hard money fix and flip loans can provide the funds within the week.

Another advantage of fix and flip loans is flexible terms and more lenient requirements.

Apply for a mortgage for your fix and flip project

If you want to invest in one of the hottest Texas markets and need funding, you’ve come to the right place. We can help you secure the funds for your project with an Investor home loan by Reliance Financial Group.

We’ll help you navigate the whole mortgage application process from start to finish. Get in touch with one of our loan officers today so we can start funding your investment project.

If you plan to relocate to Troy, MI, we can also service your mortgage requirements!

 

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.