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Types of Fix and Flip Loans

There are several types of fix and flip loans available, each with its unique features and benefits:

• Hard Money Loans: These are short-term loans secured by real property, often used by investors who need quick access to capital. They typically have higher interest rates and are based on the property's value rather than the borrower's creditworthiness⁴.
• Bridge Loans: Serving as temporary financing, bridge loans help investors cover the gap between buying a new property and selling an existing one. They are ideal for investors who need to move quickly on a property but are waiting for another sale to close⁵.
• Private Money Loans: These loans come from private investors rather than traditional financial institutions. They can offer more flexible terms and faster approvals but may also come with higher interest rates⁶.