21 Types of Fix and Flip Loans - What You Need to Know

We’ve identified 21 types of fix and flip loans (programs), as well what a real estate investor should know about each one. Which of these fix and flip loans is best for you and your dreams? Which of these fix and flip loans is best for you and your dreams?

1. Hard Money Loans

Overview

Hard money loans are a type of short-term, high-interest loan that’s secured by the property being purchased. These loans are provided by private investors or companies and are often sought by fix and flip investors who need quick funding and may not qualify for traditional bank loans. The terms typically include higher interest rates, shorter repayment periods, and a lower loan-to-value ratio, making them a swift yet costly financing option.

When considering hard money loans, it’s important to understand the specific characteristics and implications involved. Here’s a more detailed look at what hard money loans entail:

Short-term Financing: Hard money loans serve as short-term solutions, usually ranging from six months to a few years. This accelerated timeframe aligns with the needs of fix and flip investors who aim to complete projects promptly.
Flexibility in Approval: Unlike traditional bank loans, hard money lenders focus less on the borrower’s credit score and financial history. The primary concern is the property’s value and the borrower’s exit strategy for repaying the loan.
Property-Centric Security: Securing the loan against the property being purchased mitigates the lender’s risk, making it easier for investors with non-traditional financial backgrounds to access the capital they need.
Higher Costs: While hard money loans offer quick accessibility, they come with higher interest rates and fees. This trade-off compensates the lender for the increased risk associated with this type of financing.
Specialized Use Cases: In addition to fix and flip projects, hard money loans are used for real estate investments, bridge financing, and property acquisitions where traditional financing may not be feasible.

Pros and Cons

Pros:

Rapid funding, ideal for time-sensitive opportunities
Easier to qualify for than traditional bank loans

Cons:

Higher interest rates increase overall project costs
Shorter repayment periods require a quick turnaround on property sale

2. Private Money Loans

Overview

Private money loans are a valuable financing option that provides investors with an alternative to traditional bank loans. Unlike conventional loans, private money loans are obtained from individuals or private companies, offering a range of benefits for borrowers. By accessing private funds, investors can seize opportunities to finance real estate projects, business ventures, or other investment endeavors that may not meet the strict criteria of traditional financial institutions.

Here are several key points to consider:

Flexibility: Private money loans provide borrowers with increased flexibility in terms, allowing for more personalized and tailored lending arrangements. This adaptability can be extremely beneficial for investment projects that require dynamic financing solutions. Investors are granted the opportunity to negotiate terms directly with the lender, resulting in a collaborative and advantageous agreement for both parties.
Streamlined Process: Unlike the stringent procedures of traditional lenders, private money loans typically involve a simplified application process. This streamlined approach expedites the funding timeline, enabling investors to swiftly secure the necessary capital for their projects.
Asset-Based Lending: Private money loans are often secured by the underlying property, placing greater emphasis on the value of the asset rather than the borrower’s credit history. This asset-based lending framework allows borrowers with less-than-ideal credit profiles to access financing that would otherwise be unattainable through conventional channels.
Customized Solutions: Private money lenders recognize the diverse needs of investment projects and are more inclined to provide tailored solutions to meet these requirements. This personalized approach ensures that the financing aligns with the specific goals and circumstances of the borrower, fostering a collaborative and mutually beneficial relationship.

The utilization of private money loans empowers investors to capitalize on opportunities that may have been unattainable through traditional financing avenues. Whether embarking on a fix and flip project, pursuing real estate investments, or seeking funding for entrepreneurial ventures, private money loans offer a compelling financial solution with the potential to optimize investment outcomes.

Pros and Cons

Pros:

Flexible terms tailored to the borrower’s needs
May be more accessible to borrowers with nontraditional qualifications

Cons:

Higher interest rates than bank loans
Potential for less regulatory oversight and protection

3. FHA 203(k) Loans

Overview

FHA 203(k) loans are government-backed mortgage loans that enable fix and flip investors to finance the purchase and rehabilitation of a property through a single loan. These loans come with low down payment requirements and are designed to support the rejuvenation of distressed or outdated properties, making them an appealing choice for flip projects in need of significant renovation.

Pros and Cons

Pros:

Low down payment requirements for eligible borrowers
Streamlined financing for both property purchase and renovation

Cons:

Stringent eligibility criteria may limit borrower qualification
Strict requirements for property condition and improvement plans

4. Home Equity Loans and/or Home Equity Line of Credit (HELOC)

Overview

What are Home Equity Loans and Home Equity Line of Credit (HELOC)?
How do Home Equity Loans and HELOCs work?
Understanding the differences between Home Equity Loans and HELOCs

Pros and Cons

Pros
Flexibility in using the funds
Potentially lower interest rates than other forms of credit
Interest may be tax deductible*
Cons
Putting your home at risk if you can’t make the payments
Possible fluctuation in interest rates
Additional fees and closing costs

*Consult with a tax professional to understand the tax implications related to home equity loans and HELOCs.

5. Bridge Loans

Overview

Bridge loans, also known as a swing loan or gap financing, are short-term loans that help borrowers bridge the gap between the immediate need for funding and the closing of long-term financing. These loans play a crucial role in real estate transactions, especially when a buyer needs to purchase a new property before selling an existing one. Here are some essential points to consider:

Bridge loans provide quick access to capital, offering borrowers the flexibility to make a competitive offer on a new property, even before their current property is sold.
They are useful in preventing the loss of an attractive real estate opportunity due to a delay in selling the existing property.
Bridge loans typically have higher interest rates and fees, and they require collateral in the form of the borrower’s existing property or the new property being purchased.
One major advantage is that bridge loans have a relatively quick approval process, making them a viable option for those who need immediate funds.
It’s important for borrowers to weigh the benefits of a bridge loan against the associated costs and risks before pursuing this option.

Pros and Cons

Pros
Cons

6. Personal Loans

Overview

What are personal loans?
How do personal loans work?
Types of personal loans

Personal loans are a type of installment loan that individuals borrow for a variety of purposes. They are unsecured loans, meaning they are not backed by collateral such as a house or car. Here’s an in-depth look at the key aspects of personal loans:

AspectsDescriptionEligibilityMinimum requirements and qualificationsInterest RatesFactors influencing rates and common rate rangesApplication ProcessSteps involved and necessary documents

Pros and Cons

Pros
Flexible use of funds for various purposes
Competitive interest rates
Convenient application process
Cons
May require a good credit score for the best rates
Some lenders charge origination fees
Failure to repay can negatively impact credit score

7. Conventional Bank (or Credit Union) Loans

Overview

A conventional bank fix and flip loan is a type of financing that is used to purchase and renovate a property with the intention of selling it for a profit. This loan is specifically designed for real estate investors who want to renovate and sell properties within a short period of time.

Pros and Cons

Pros:

Flexible repayment terms
Competitive interest rates
Established track record

Cons:

Strict eligibility requirements
Long approval process
Collateral may be required

8. Construction Loans

Overview

Construction loans are a specialized form of financing for building a new home or making significant renovations to an existing one. They typically have variable interest rates and short terms, with the funds disbursed in stages as construction progresses. There are several types of construction loans available, each with its own requirements and benefits. Understanding the details of construction loans is essential for anyone planning a construction project.

Pros and Cons

When considering construction loans, it’s important to weigh the advantages and disadvantages to make an informed decision. Here are the pros and cons to consider:

Pros

Flexible financing options to meet specific project needs
Interest-only payments during the construction phase
Ability to lock in interest rates before construction begins
May offer a one-time closing with a transition to a permanent loan
Can be used for new construction or major renovations

Cons

Strict qualification requirements, including credit score and debt-to-income ratio
Interest rates can be higher than traditional mortgage rates
Requires detailed plans and construction timelines
May involve higher closing costs and fees
Potential for cost overruns and project delays

9. Portfolio Loans

Overview

Portfolio loans are a type of mortgage that is used to finance multiple properties. These loans are typically utilized by real estate investors or individuals who own multiple properties and want to streamline their financing.

Portfolio loans differ from traditional mortgages in that they are not backed by government-sponsored entities such as Fannie Mae or Freddie Mac. Instead, they are held by the lender or a private entity, allowing for more flexibility in lending criteria and terms.

Portfolio loans can be a strategic financing option for real estate investors with multiple properties.
They offer more flexibility in terms of eligibility and underwriting requirements compared to conventional mortgages.
Interest rates for portfolio loans may be higher than traditional mortgages due to the increased risk to the lender.
These loans may require a larger down payment and have stricter qualification criteria.

Pros and Cons

When considering portfolio loans, it’s essential to weigh the advantages and disadvantages to make an informed decision. Here’s a detailed breakdown of the pros and cons:

Pros

Flexible Terms: Portfolio loans often offer more flexible terms than traditional mortgages, allowing borrowers to customize repayment schedules and loan structures to better fit their financial situation.
Investment Opportunities: For real estate investors and property developers, portfolio loans provide opportunities to fund multiple properties without being limited by conventional loan restrictions.
Unique Approval Criteria: Portfolio lenders have the flexibility to consider a broader range of factors when evaluating loan applications, making it possible for individuals with unconventional financial profiles to qualify.
Customized Underwriting: Portfolio loans are underwritten based on the specific merits of the borrower and the property, rather than relying solely on standardized guidelines, offering more personalized lending solutions.
Non-Standard Properties: These loans can be used to finance unique properties that may not meet the criteria for traditional financing, such as mixed-use buildings, condos with high investor concentration, etc.

Cons

Higher Costs: Portfolio loans often come with higher interest rates and fees compared to conventional mortgages, which can result in increased borrowing costs over the life of the loan.
Risk of Foreclosure: Due to the non-standardized nature of portfolio loans, borrowers may face a higher risk of foreclosure if they encounter financial difficulties, as there may be less flexibility in the restructuring of payments.
Variable Terms: Some portfolio loans may have variable interest rates, leading to potential fluctuations in monthly payments and overall loan costs.
Portfolio Diversification: For investors, putting multiple properties under one portfolio loan may lead to increased risk if the performance of one property impacts the entire loan.
Eligibility Requirements: Portfolio loans typically have more stringent eligibility criteria, requiring a strong financial position and a clear repayment strategy.

10. Cash-Out Refinance Loans

Overview

A cash-out refinance fix and flip loan is a type of loan that allows real estate investors to refinance an existing property to access the equity and use the funds for purchasing and renovating another property. It involves refinancing an existing mortgage for an amount greater than the current loan balance, resulting in the borrower receiving the difference in cash. This type of loan is commonly used in real estate investment scenarios where the investor aims to acquire, renovate, and sell properties for a profit.

Pros and Cons of Cash-Out Refinance Fix and Flip Loans:

Pros:

1. Access to equity for property acquisition and renovation

2. Potential for higher returns through property flipping

3. Consolidation of multiple loans into a single mortgage

Cons:

1. Increased risk due to leveraging existing property equity

2. Higher interest rates and closing costs

3. Potential impact on credit and financial stability

Pros and Cons

Pros: Cash-out refinance loans can provide access to a considerable amount of cash, which can be used for various purposes such as home improvements or consolidating high-interest debt.
Cons: On the downside, cash-out refinance loans may come with higher interest rates than the original mortgage, resulting in increased long-term costs. There is also the risk of resetting the loan term, potentially extending the time to pay off the mortgage.

11. Conventional Rehab Loans

Overview

Conventional rehab loans are a type of financing option that can be used to purchase or refinance a home in need of repairs or renovations. These loans are designed to provide funding for both the purchase of the property and the cost of the renovations. They are a popular choice for homebuyers who are looking to invest in properties that require updates or improvements.

Conventional rehab loans are different from traditional home loans in that they allow borrowers to finance the purchase and rehabilitation of a property with a single mortgage. This can be advantageous for homeowners who want to make improvements to their homes without having to secure separate loans for the purchase and renovation costs.

Flexibility: These loans offer flexibility in terms of the types of properties that can be financed, including single-family homes, condominiums, and townhouses.
Financing for Renovations: Conventional rehab loans provide funding not only for the purchase of the property but also for the cost of renovations and improvements.
Competitive Interest Rates: Borrowers may qualify for competitive interest rates, making these loans an attractive option for financing home purchases and renovations.
Down Payment Options: Depending on the lender and the borrower’s creditworthiness, conventional rehab loans may offer flexible down payment options.
Qualification Requirements: Borrowers will need to meet certain qualification requirements, including credit score, income, and other financial considerations.

Pros and Cons

When considering conventional rehab loans, it’s important to weigh the advantages and disadvantages to make an informed decision.

Pros:

1. Flexibility: Conventional rehab loans offer flexibility in terms of the types of properties that can be financed, including primary residences, second homes, and investment properties.

2. Competitive Interest Rates: These loans often come with competitive interest rates, making them an attractive option for borrowers looking to minimize borrowing costs.

3. Renovation Funding: The ability to finance not only the purchase price of the property but also the cost of renovations is a major advantage for buyers seeking to transform a fixer-upper into their dream home.

Cons:

1. Stringent Requirements: Qualifying for conventional rehab loans may involve stricter eligibility criteria, such as higher credit scores and lower debt-to-income ratios, compared to other loan programs.

2. Limited Assistance: Unlike some government-backed loans, conventional rehab loans may offer less assistance to borrowers who encounter financial challenges during the renovation process.

3. Upfront Costs: Upfront costs, including down payments and fees, may be higher for conventional rehab loans, requiring borrowers to assess their financial readiness carefully.

12. Business Lines of Credit

Overview

Business lines of credit offer flexible financing options for businesses.
They provide access to funds that can be used for various business needs.
Interest is only paid on the amount borrowed, making it a cost-effective solution.
Revolving credit lines allow for ongoing borrowing and repayment, offering continuous access to capital.
Lines of credit can help businesses manage cash flow and cover unexpected expenses.

Pros and Cons

Pros:
Quick access to funds
Flexible usage
Builds business credit
Revolving credit
Budget-friendly
Cons:
High interest rates
Variable terms
Requires good credit
May have fees

13. Blanket Loans

Overview

Blanket loans, also known as portfolio loans or blanket mortgages, are a type of long-term financing that covers multiple properties under a single loan. This type of loan is commonly used by real estate investors to consolidate multiple investment properties into one loan, simplifying the financing process.

Key Features of Blanket Loans:

Consolidates multiple properties
Single loan, multiple properties
Flexible financing for real estate investors

Blanket loans are designed to allow investors to purchase, refinance, or leverage equity in multiple properties through a single, streamlined financing solution. This financing option provides a practical and efficient way for investors to manage and grow their real estate portfolios.

Pros and Cons

Pros
Flexible financing options
Opportunity for higher returns
Consolidation of multiple properties under one loan
Cons
High qualification requirements
Greater risk exposure
Potential for increased financial obligations

14. 401(k) Loans

Overview

401(k) loans can be a valuable tool for employees looking to access funds for various financial needs. However, it’s important to understand the pros and cons of 401(k) loans before making a decision. Let’s explore the factors to consider when contemplating a 401(k) loan:

Loan Eligibility and Limits
Interest Rates and Repayment Terms
Impact on Retirement Savings
Pros and Benefits of 401(k) Loans
Cons and Risks of 401(k) Loans

By delving deeper into each aspect, employees can make informed choices about utilizing 401(k) loans without jeopardizing their long-term financial security.

Pros and Cons

Pros:
Flexible repayment options
No credit check required
Interest paid goes back into your account
Cons:
May reduce retirement savings
Potential tax implications if not repaid
Employment termination may trigger repayment
Opportunity cost of missed investment gains

15. BRRRR (Buy, Rehab, Rent, Refinance, Repeat)

BRRRR, also known as Buy, Rehab, Rent, Refinance, Repeat, is a real estate investment strategy that involves purchasing a property, renovating it, renting it out, refinancing the property to pull out the initial investment, and then repeating the process with another property. It’s a popular and effective method for building a real estate portfolio and generating ongoing income.

16. DSCR (Debt Service Coverage Ratio) Loans

DSCR loans, also known as Debt Service Coverage Ratio loans, are primarily used in commercial real estate financing. These loans are evaluated based on the property’s ability to generate enough income to cover the mortgage payments and other related expenses. The DSCR is a critical metric for lenders, as it indicates the property’s ability to service the debt.

Key points to consider:

DSCR Calculation: Lenders calculate the DSCR by dividing the property’s net operating income (NOI) by the total debt service, including the principal, interest, taxes, and insurance.
Minimum Requirement: Most lenders require a minimum DSCR of 1.25, ensuring that the property’s income is 1.25 times the debt amount.
Impact on Loan Approval: A higher DSCR indicates a more stable property in the eyes of the lender, potentially leading to better loan terms and approval odds.
Real-World Example: For instance, if a property has an NOI of $100,000 and total debt service of $80,000, the DSCR would be 1.25 ($100,000 / $80,000), meeting the minimum requirement.

17. Cross-Collateralization Loans

Cross-collateralization loans are a unique financing option that allows borrowers to use multiple properties as collateral for a single loan. This can be particularly advantageous for real estate investors and property developers who have multiple assets and want to leverage their existing properties to secure funding for new investments.

When considering cross-collateralization loans, it’s essential to understand the key features and benefits they offer:

Expanded Collateral: By using multiple properties as collateral, borrowers can access higher loan amounts compared to traditional loans.
Risk Mitigation: Lenders may be more willing to extend financing when the risk is spread across multiple properties, making it a viable option for borrowers with less-than-ideal credit.
Flexible Terms: Cross-collateralization loans often come with flexible terms and conditions, allowing borrowers to tailor the financing to their specific needs.
Property Portfolio Leverage: Investors can maximize their property portfolios by using the equity in one or more properties to secure financing for additional acquisitions.

Like any financial product, cross-collateralization loans have their advantages and disadvantages:

ProsConsAccess to Larger Loans
Increased Flexibility
Risk Mitigation
Portfolio Diversification
Complex Documentation
Higher Risk for Default
Property Value Fluctuations
Difficulty in Removing Collateral

18. Seller Financing/Owner Financing

Seller financing, also known as owner financing, is a real estate financing strategy where the seller acts as the lender to facilitate the sale of the property. This arrangement allows the buyer to make payments directly to the seller, bypassing traditional mortgage lenders.

Here are some key points to consider about seller financing:

Seller financing can offer flexibility in terms of down payment requirements, interest rates, and repayment terms.
It provides an alternative financing option for buyers who may not qualify for conventional loans.
Both parties can negotiate the terms of the financing agreement, which can lead to a customized and mutually beneficial arrangement.
From the seller’s perspective, offering financing can attract a broader pool of potential buyers and expedite the sale process.
Buyers need to conduct thorough due diligence and seek legal advice to ensure the terms are fair and feasible.

When considering seller financing, it’s essential to weigh the benefits and risks associated with this financing method. While it can be a viable option for certain real estate transactions, careful consideration and professional guidance are crucial to mitigate potential drawbacks.

19. Joint Venture Financing

Joint venture financing is a powerful strategy for real estate investors looking to leverage their resources, mitigate risk, and pursue larger investment opportunities. In a joint venture arrangement, two or more parties come together to combine their expertise, capital, and efforts to develop or invest in a real estate project.

Here are some key points to consider when exploring joint venture financing:

Partnership Structure: Joint ventures can take various forms, including partnerships, limited liability companies (LLCs), or corporations. It’s essential to carefully outline the rights, responsibilities, profit-sharing agreements, and exit strategies for each partner involved.
Complementary Skills: Successful joint ventures often involve partners with complementary skills and expertise. For example, one partner may specialize in property acquisition and management, while the other excels in securing financing and navigating regulatory requirements.
Risk Distribution: By pooling resources and sharing risks, joint ventures enable investors to undertake ambitious projects that may be beyond their individual capacities. However, it’s crucial to conduct thorough due diligence and establish contingency plans to mitigate potential risks.
Legal Considerations: Engaging in a joint venture requires careful consideration of legal and regulatory requirements. Partners should work with legal professionals to draft detailed agreements that address governance, decision-making processes, financing arrangements, and dispute resolution mechanisms.
Equitable Returns: Clear delineation of profit-sharing mechanisms and equity distributions is vital for sustaining a harmonious partnership. Partners should align their expectations and define performance metrics to ensure fairness and transparency in the sharing of rewards and risks.

20. Crowdfunding Real Estate Loans

Crowdfunding real estate loans have gained popularity in recent years as an alternative form of financing for real estate projects. This method involves raising funds from a large number of individuals, often through online platforms, to finance a real estate venture or development.

Here are some key points to consider when exploring crowdfunding real estate loans:

Diversification: Investors can participate in multiple real estate projects, allowing for a diversified portfolio.
Accessibility: Crowdfunding opens up real estate investment opportunities to a wider pool of investors who may not have substantial capital to invest individually.
Risk Factors: It’s important to carefully assess the risk factors associated with each crowdfunding opportunity, including the track record of the platform, the nature of the project, and the overall market conditions.

Additionally, crowdfunding real estate loans offer an innovative way for developers and real estate entrepreneurs to secure funding for their projects. These loans can be used for various types of real estate developments, including residential, commercial, and mixed-use properties.

Furthermore, crowdfunding platforms provide a space for collaboration and networking among investors and project developers, fostering a sense of community within the real estate investment landscape.

21. Government-Backed Renovation Loans Beyond FHA 203(k)

VA Renovation Loans

VA renovation loans are a great option for eligible veterans and service members who want to buy a home that needs repairs or upgrades. These loans offer the same favorable terms and low down payment benefits as traditional VA home loans.

Here are some key points to know about VA renovation loans:

They can be used to purchase a home in need of renovation or to refinance an existing home and include the cost of repairs or improvements in the loan.
Applicants must intend to live in the property being renovated.
VA renovation loans do not require a down payment or private mortgage insurance (PMI).
They provide the flexibility to finance minor repairs to total reconstruction of a home.

It’s important for veterans and service members to work with a lender who is familiar with the VA’s renovation loan requirements and can guide them through the process effectively.

USDA Renovation Loans

USDA renovation loans are a valuable option for homebuyers in rural areas and offer a range of benefits. These loans are backed by the U.S. Department of Agriculture and are designed to help individuals or families with low to moderate income achieve homeownership and make necessary home improvements.

Key features of USDA renovation loans include:

No down payment requirement for eligible borrowers
Low fixed interest rates
Financing for both home purchase and renovations
Flexible credit guidelines
No maximum loan amount

Fannie Mae HomeStyle Renovation Loan

The Fannie Mae HomeStyle Renovation Loan is a popular choice for borrowers looking to finance home improvements along with their mortgage. It allows for financing up to 75% of the after-completed value of the home, making it a favorable option for those seeking to renovate or repair a property.

Key features of the Fannie Mae HomeStyle Renovation Loan include:

Flexible Eligibility Criteria: The loan is available for both purchase and refinance transactions, offering flexibility to borrowers.
Multiple Property Types: It can be used for a wide range of property types, including primary residences, second homes, and investment properties.
Renovation Scope: The loan covers a diverse scope of renovations, from structural modifications to energy-efficient upgrades and everything in between.
Professional Contractor Requirements: Borrowers are required to work with licensed contractors for the renovation work, ensuring quality and compliance with building codes.
Streamlined Process: Fannie Mae offers a streamlined approval process for the renovation plans, simplifying the overall financing and renovation experience.

The benefits of this renovation loan are numerous, including:

One-Time Close: Borrowers have the convenience of a single closing that covers the purchase or refinance of the property as well as the renovation costs.
Favorable Interest Rates: The loan offers competitive interest rates compared to traditional home improvement loans.
Increased Property Value: By financing renovations, homeowners can enhance the value of their property and create their ideal living space.
Personalization: The loan allows for personalization of the property, giving borrowers the opportunity to tailor the home to their preferences.

The Fannie Mae HomeStyle Renovation Loan presents a compelling opportunity for homeowners and buyers to transform properties to meet their specific needs. Its flexibility, diverse renovation scope, and streamlined process make it a valuable option in the realm of renovation financing.

Freddie Mac CHOICERenovation Loan

The Freddie Mac CHOICERenovation Loan is a government-backed renovation loan that offers borrowers the ability to finance the cost of home improvements into a single mortgage. This program is designed to help homebuyers or homeowners purchase a home and finance the cost of renovations or upgrades in one convenient loan.

Here are some key features of the Freddie Mac CHOICERenovation Loan:

Flexible financing options that cover renovation costs
Low down payment requirements
Competitive interest rates
Can be used for a wide range of renovation projects
Option to include contractor bids and project plans in the loan package

Applicants for the Freddie Mac CHOICERenovation Loan must work with a contractor to determine the cost of the renovations and submit a proposal outlining the scope of work. The loan amount is based on the projected value of the home after the renovations have been completed.

Are You Closer to Deciding Which of These 21 Types of Fix & Flip Loans Is Best for You?

The word count of this article is extensive–well over 4,000 words! But we think it’s worth it. Hopefully, it has served as a one-stop resource for learning about all the the types of loans available for fix and flip real estate projects.

If you’d like to obtain a fix and flip loan, consider our recommendations for the best lenders online. Click here to learn more.