Home Improvement Loans and Flipping House Finance

If you need finance for flipping houses, renovating properties, home improvements, or rehabbing homes, you obviously want to make yourself as attractive as possible to banks and other lenders.



Collect copies of as much relevant financial information as you can - income details such as payslips and rent receipts, tax returns, bank and credit card statements, assets (eg other property, stocks, bonds, motor vehicles) and liabilities (eg property and personal loans), and an estimate of your monthly expenses. If you will be borrowing through a company or trust, you should include a copy of the company registration or trust deed. Lenders like to minimise risk - the more information you can give them, the more comfortable they will feel about lending you money.



But remember, you hold some of the cards! Banks want to lend money, and there is fierce competition between lenders for your business. Shop around, but don't just compare interest rates. There are many variables that make up a loan "package", and you should look for a loan that provides the best combination of features for your situation.



Some of the features to look for include: fixed or variable interest rates, interest-only loans (which may be interest-only for some or all of the loan's term), application fees, monthly or annual fees, maixmum loan-to-valuation ratios, early repayment fees, portability (the ability to transfer the loan from one property to another), redraw facilities, and whether the lender requires you to pay for loan insurance.



The key point is: compare, compare, compare! Look at as many different property or home improvement loan offerings as you can. Pick the two or three most suitable for further discussion with the respective lenders. They may negotiate on some elements of the finance package, in order to get your business.

Welcome!

Flipping houses for profit - buying, refurbishing, and re-selling properties - is one of the most popular ways of making money from the property market. Whether you are buying ugly houses for a major makeover or undertaking more cosmetic home improvements, making the right decisions at each step of the process is critical to the financial outcome.



Do it right, and you can make a lot of money; make some mistakes along the way, and the outcome can be a substantial financial loss.This site will help you make the right decisions, and keep you up to date with the latest tips, trends and ideas. Happy investing!