It’s a common question. Prepaying a loan will allow you to manage your finances on your own terms and can help you avoid additional fees in the future. However, different loan companies have different policies when it comes to prepaying. Read on to learn about prepayment for our fix-and-flip loan program.
Pros and Cons to Prepaying Your Loan
Should you prepay a portion of your loan? At Red Door Funding, we leave the choice up to you. There is no prepayment penalty on our fix-and-flip loan so you can pay on the schedule you like without additional fees. Many people who have the means to prepay like this option because it reduces future payments and reduces the amount you will pay in overall interest. However, some people choose not to prepay because affects their personal savings goals.
Understanding Your Loan Terms
Our fix-and-flip loan term is one year with automatic renewals at six and nine months. There are no additional fees if you repay your loan within six months, which is another reason that some individuals choose to prepay. Click here to view the terms of this loan.
Texas Investor Rehab Loans
Are you ready to make an investment? Red Door Funding makes things possible for you. Our fix-and-flip loan will allow you to invest in rehab properties. Flipping homes can be a lucrative practice- one that stimulates the local economy and allows you to express your creativity. Take the first step toward real estate investment by calling Red Door Funding at 832-539-1099.