Loans · Fix & flip
Fix and flip loans
Purchase and rehab money for investors who buy, renovate and sell.
At a glance
When a fix & flip loan fits
Best forBuy, renovate and sell within about a year
What sizes the loanPurchase price, rehab budget and after-repair value (ARV)
How rehab is paidIn draws, after each stage of work is checked
ExitSale of the finished property, or a refinance into a rental loan
Who it fitsInvestors with at least one completed project, or a partner who has one
Closes inAn LLC or other entity, business purpose only
Worked example
How lenders look at a flip
| Example deal | Figure |
|---|---|
| Purchase price | $300,000 |
| Rehab budget | $80,000 |
| Total project cost | $380,000 |
| After-repair value, from closed sales | $520,000 |
| Loan request | $323,000 |
| Loan-to-cost (loan ÷ total cost) | 85% |
| Loan-to-ARV (loan ÷ ARV) | 62% |
Example onlyEach lender sets its own limit on both ratios. The lower one decides your maximum loan, so we show every lender's limit side by side. ARV comes from closed sales nearby, never active listings. These figures illustrate the math. They are not an offer, a rate quote or a promise of approval.
Your file
What to have ready
- Scope of work with a line-item rehab budget
- Photos of the property as it stands
- Purchase contract
- Your track record for the last 36 months
- Entity documents, guarantor ID, 2 months of business bank statements
How we place it
Options in 48 business hours
Once your file is complete, we send it to the lenders in our directory that fund this kind of deal. Their answers come back to you on one page, side by side, with our fee in writing.
Questions
What investors ask us
Do I need flip experience?
Most lenders want at least one completed project. If you are newer, adding a partner who has one often opens the door.
How fast can a flip loan close?
It depends on the lender, the appraisal and how complete your file is. We tell you each lender's stated time to close on your options page.
Is the rehab money paid up front?
Usually not. Lenders release rehab money in draws as work is completed and inspected.
Related loans
Other ways to finance it
LoansBridge loansShort-term money to buy fast, stabilize a property or bridge to your next loan.LoansDSCR rental loansLong-term rental loans sized on the property's rent, not your personal income.LoansGround-up construction loansMoney to build new homes, townhomes and spec projects, paid out as you build.
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