Flip Mortgages

Specialized Financing for Property Flips and Renovations

At MMG Mortgages, our brokers specialize in financing residential property flips and renovation projects, catering to both first-time investors and seasoned real estate professionals.

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With our extensive knowledge, experience, and expertise, we're equipped to guide you in making informed and lucrative real estate investment decisions.

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Specific mortgages tailored for Flip Financing are available, enabling you to leverage up to 80% of the after-renovated value. This means you can invest with as little as $10,000 down and allocate the remainder of your capital towards renovations or resale/refinancing endeavors.

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Upon receiving a list of improvements/quotes for the prospective renovation, our partners conduct an appraisal to ascertain the as-complete value of the property.

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In most cases, these purchases entail minimal conditions and boast quick turnaround times for expedited closings. Furthermore, these mortgages are fully open, devoid of prepayment penalties.

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While interest rates may be higher—typically about 4-5% above standard mortgage market rates—with monthly interest-only payments, this is attributable to the transaction's riskier nature. Flip financing is intended as a short-term solution, ensuring timely repayment.

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Our lender is flexible in lending in either 1st or 2nd position, offering the same favorable terms. Additionally, we streamline the process by utilizing your own lawyers, thereby minimizing legal costs.

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From start to finish, our lenders can fund within as little as 72 hours, requiring limited documentation.

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This product is also well-suited for interim/bridge financing, renovations, or addressing other short-term needs before selling or refinancing into a new first mortgage.