We specialize in fix and flip loans to help investors buy more investment properties without relying on personal income.
- Close as fast as 10 days
- No prepayment penalty
- No appraisal
Fix and Flip Loan Terms
| Loan to cost | Up to 90% LTC |
| Rehab financing | Up to 100% |
| After-repair value | Up to 75% ARV |
| Loan amount | Min $75,000 |
| Interest rate | Start at 9.25% |
| Credit score | Minimum 680 |
| Loan terms | 6, 12, 18 and 24 months |
Our Advantages
- Close as fast as 10 days
- $0 application fee ($1,500 savings)
- No appraisal
- No prepayment penalty
- No experience required
Approval is not based on personal income, so no W-2 or tax returns will be needed.
Fix and Flip Loan Process
- Get pre-qualified to see how much you can borrow, your down payment and interest rate.
- Approve loan terms when you’re ready to move forward.
- Complete loan application.
- Underwriter runs your credit.
- If approved, we’ll need the estimate rehab work.
- Underwriter reviews rehab work required.
- Underwriter calculates the after-repair value.
- Underwriter calculates the margin of safety between the ARV (after-repair value) and loan amount.
- If the ARV meets the lender’s loan criteria, the loan is approved.
- Title agency and funding department work together to close the loan.
Tips for Fix & Flip Financing
- Close before the end of the month to pay less at closing for prorated interest.
- Good credit scores get lower interest rates, so refinance your personal debt to apply with a minimum credit score of 660.
- If your credit score is 600-660, you can still get fix and flip financing with a higher origination fee.
- If you have multiple business partners, apply with who has the best credit score.
- Save time by finding your Articles of Organization, Operating Agreement and EIN letter.
- Prepare all the construction and rehab costs.
- Avoid seller concessions. Most lenders will deny a loan when a seller pays more than 3% towards closing costs.
- Find an insurance agent that is familiar with fix and flip properties.
- Avoid applying to many hard money lenders. Some private lenders run a hard pull on your credit, lowering your score.
- While we can close as fast as 10 days, we work with some private funds that can close as fast as 2 days.
Have a Question?
Have a question about fix and flip loans or ready to apply? Give us a call. We’re happy to help.
Let’s Get Started
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