Fix & Flip Lending
Fix-and-flip loans for residential investors.
Up to 90% loan-to-cost, 100% of rehab funded in draws, 12-month interest-only term, no prepayment penalty. 1-4 unit investment properties only.
What's your goal?
Pick what you'd like to do — we'll customize from there.
Trusted Lender
Connect with the right team to keep your transaction smooth from app to close.
Creative Solutions
Self-employed, foreign national, ITIN, mixed-use — we have a program for you.
Secure & Private
Your data is encrypted and never sold.
Fast to Close
Average 14–30 days from clean app to clear-to-close. Same-day scenario response.
Program at a glance
The numbers that matter.
Max LTC
90%
Loan-to-cost on purchase
Rehab
100%
Funded in draws
Max ARLTV
70-75%
Tier-dependent
Term
12 mo
Interest-only, no prepay
Loan size
$50K-$1M
Up to $3M pre-screened
Min FICO
660-680
Tier-dependent
Close in
14-21 days
Appraisal permitting
Property
1-4 unit
Non-owner-occupied only
How it works
Buy. Rehab. Exit.
A fix-and-flip loan is a short-term, interest-only bridge that covers up to 90% of the purchase price and 100% of the rehab budget. The loan is secured by the property. You take title, execute the rehab on your timeline, and exit by either reselling the property or refinancing into a long-term DSCR loan if you decide to rent it instead.
Qualification is based on the property, the rehab scope, the after-repair value (ARV), and your experience tier - not tax returns, W-2s, or DTI calculations. If the deal underwrites and you clear credit and reserves, you close.
Experience tiers
Pricing and limits scale with experience.
We use a 3-year lookback to count your completed flips. Two properties held simultaneously count as one flip credit. First-time flippers qualify at Tier 1 - up to $100,000 - and move up as you complete deals.
| Tier | Experience | Max loan | Min FICO | Max ARLTV |
|---|---|---|---|---|
| Tier 1 | 0 completed flips | $100,000 | 680 | 70% |
| Tier 2 | 1-2 flips | $500,000 | 680 | 70% |
| Tier 3 | 3-4 flips | $500,000 | 660 | 75% |
| Tier 4 | 5-9 flips | $500,000 | 660 | 75% |
| Tier 5 | 10+ flips | $500,000 | 660 | 75% |
Loan caps shown above are program defaults. Experienced borrowers may be pre-screened up to $3,000,000 on strong deals. State-specific minimums: NJ/NY $500,000 | CA/HI $2,000,000.
Rehab scope
Four rehab categories.
We classify projects by rehab budget as a percentage of purchase price. Your tier affects draw structure and underwriting depth, not eligibility.
Light
Under 25%Cosmetic updates - paint, flooring, fixtures, minor kitchen/bath refresh. Fastest turnaround, lowest complexity.
Moderate
25-50%Kitchen and bath remodels, systems updates (electrical, plumbing, HVAC), some cosmetic restructuring.
Heavy
50-100%Full kitchen and bath gut, roofing, flooring throughout, significant systems replacement, some reconfiguration.
Extensive
Over 100%Full gut, major structural work, additions or ADU construction on existing structure, foundation work. 18-24 month term available for scope expansion.
Program details
Fix & Flip guidelines.
Standard parameters below. Every deal runs through the Approval Engine for restructure options when a file doesn’t fit a clean box.
- Property types
- 1-4 unit residential investment (non-owner-occupied). SFH, townhome, 2-4 unit, condo.
- Purchase LTC
- Up to 90%
- Rehab funding
- Up to 100%, funded in draws
- ARLTV cap
- 70% (Tier 1-2) / 75% (Tier 3-5)
- Refinance LTV
- Up to 85% of as-is value
- Loan size
- $50K - $1M standard (up to $3M pre-screened)
- State minimums
- NJ/NY $500K | CA/HI $2M
- Term
- 12 months interest-only (18-24 for scope expansion / ADU)
- Payment
- Interest-only, balloon at maturity
- Prepayment
- None - no prepay penalty
- Points
- Maximum 5 points combined (lender + broker)
- Minimum FICO
- 680 (Tier 1-2) / 660 (Tier 3+)
- Recourse
- Full recourse to principal(s)
- Net worth
- Minimum 10% of loan amount
- Entities
- LLC, C-Corp, S-Corp (standard)
- Foreign national
- Eligible with passport, visa, and qualifying FICO
- Experience lookback
- 3 years (2 simultaneous holdings = 1 flip credit)
- States
- All U.S. except VT, UT, OR, SD, ND (NV/AZ program-specific)
Ineligible property types
What we won’t finance.
Fix & Flip is a specific product for 1-4 unit residential rehab. The following don’t fit this program. For some of these we have alternatives - linked where applicable.
- Mixed-use properties
- 5+ unit multifamily (see /loans/commercial-real-estate)
- Florida condos
- Co-ops
- Mobile / manufactured homes
- Condotels
- Commercial property
- Log cabins
- Properties with oil or gas leases
- Any owner-occupied property
- Ground-up construction (not offered)
Have a 5+ unit multifamily or commercial deal?
See our Commercial Real Estate pillar for stabilized income-producing properties. For ground-up construction, we do not offer this product and recommend a dedicated construction lender.
Process
How a Fix & Flip closes.
Submit the deal
Address, purchase price, rehab budget, ARV estimate, scope of work. Same-day term sheet on clean files.
Appraisal & docs
We order the as-is and ARV appraisal. You provide entity docs, insurance, and proof of reserves.
Close
Typical 14-21 days from complete file. Purchase funds plus first rehab draw disbursed at closing when scope allows.
Rehab & exit
Draw reimbursements funded 2-5 business days after inspection. Exit by flip (payoff at resale) or refi into a DSCR rental loan.
Who this fits
Built for investors who actually do the work.
- First-time flippers buying their first rehab property
- Experienced flippers scaling from 2-3 deals to a portfolio
- BRRRR investors who need bridge-to-DSCR capital
- Wholesalers converting contracts into buy-and-hold
- Investors rehabbing short-term rentals before stabilization
- Out-of-state buyers on off-market deals in landlord-friendly markets
- Investors using an LLC for asset protection
- Foreign national investors with U.S. investment strategies
Exit strategy
Flip or refinance - both work.
Option A - Flip
Sell and cash out
Complete the rehab, list, and sell. The fix-and-flip loan pays off at resale closing. You walk with the equity delta between sale price and total project cost. No prepay penalty means you can close your exit whenever the market’s right.
Option B - Refi to rent
BRRRR the deal
Stabilize with a tenant, then refinance into our long-term DSCR loan at stabilized value. We can quote both paths at application so you know your cost of capital either direction before you buy.
Questions
Fix & Flip FAQ
A short-term, interest-only loan used to acquire and renovate a 1-4 unit investment property with the intent to resell (flip) or refinance into a long-term rental loan (rent). Our fix-and-flip loans qualify on the property’s as-is value, planned rehab scope, and after-repair value (ARV), plus the borrower’s credit and flip experience. No tax returns or W-2s required.
Ready to lower your rate?
DSCR Loans — Lower Rates Are Here.
Cash Out Refinance — More cash flow. More properties.
Send us your scenario or upload a competing term sheet — we'll either beat it or tell you straight up that you've got a great deal.