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Types of Fix and Flip Loans

There are several types of loans available for fix and flip projects, each with its own set of benefits and considerations:

• Hard Money Loans: These are asset-based loans that use the property as collateral. They are usually issued by private lenders and come with higher interest rates but offer quick approval and funding.
• Bridge Loans: Designed to provide temporary financing, bridge loans help investors secure a property while arranging for long-term financing or completing a sale.
• Home Equity Loans: If you own a property with significant equity, you can borrow against it to fund your fix and flip projects. This option typically offers lower interest rates.