Fix & Flip Loans – 90% Purchase + 100% Rehab | Fast Hard Money Financing Nationwide
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Fix and Flip Loans – Rates, Terms, Requirements & How They Work
Fix and flip loans are short-term real estate loans designed for investors who buy, renovate, and resell properties for profit. These loans close quickly, offer flexible renovation funding, and are underwritten based on the property, the borrower’s credit profile, and real estate experience.
Unlike traditional mortgages, fix and flip loans place greater emphasis on deal fundamentals while still considering borrower credit and project experience, giving investors the ability to maximize returns while minimizing risk.
What Is a Fix and Flip Loan?
A fix and flip loan is a short-term financing option used by real estate investors to purchase and renovate a property with the goal of selling it quickly for a profit. Unlike traditional mortgages, these loans are underwritten primarily based on the property’s after-repair value (ARV), along with the borrower’s credit profile and real estate experience, rather than relying solely on personal income.
Fix and flip loans provide fast access to funds for both first-time and experienced investors, enabling quick closings, flexible draw schedules for renovations, and a streamlined process to help investors capitalize on time-sensitive opportunities in competitive markets.
How Do Fix and Flip Loans Work?
- Find a property with value-add potential. Investors identify a distressed or underpriced property that can be improved through renovations.
- Estimate renovation costs and after-repair value (ARV). The rehab budget and projected ARV determine how much a lender is willing to finance.
- Apply for a fix and flip loan. Lenders review the property, deal numbers, and exit strategy rather than just personal income.
- Close quickly. Most fix and flip loans close in 7–10 days, allowing investors to secure competitive deals.
- Complete renovations and exit. Renovation funds are released through draw schedules as work is completed, and the loan is repaid when the property is sold or refinanced.
What to Look for in the Best Fix and Flip Loans
Not all fix and flip loans are structured the same. The best programs balance speed, leverage, and underwriting flexibility based on the investor’s experience and credit profile.
How the Fix & Flip Loan Process Works
Step 1: Submit Your Deal
Share property details, renovation scope, and estimated ARV for review.
Step 2: Receive Loan Terms
Pricing, leverage, and structure are issued based on the deal.
Step 3: Appraisal & Underwriting
Appraisals are typically completed in 3–5 days before final approval.
Step 4: Close & Fund
Approved loans are sent to closing attorneys, with funding often completed within a week.
- Fast Closing Speed: Top fix and flip lenders can close in as little as 7–14 days when the deal is well structured.
- Rehab Cost Coverage: Many programs fund up to 100% of renovation costs through draw schedules.
- Experience-Based Leverage: Better leverage is typically available to investors with prior fix and flip or rental experience.
- Credit-Sensitive Underwriting: Some lenders adjust loan-to-cost and pricing based on credit score tiers.
- Flexible Exit Strategies: Strong programs support both resale and refinance exits.
The 70% Rule for Fix & Flip Deals
The 70% rule is a common guideline used to calculate the maximum purchase price for a fix and flip property:
Formula: ARV × 70% − Rehab Costs = Maximum Purchase Price
While helpful for quick deal analysis, the 70% rule is not a lending requirement. Actual loan amounts are determined by underwriting factors such as ARV, loan-to-cost limits, borrower credit, experience, and risk assessment.
Experience & Leverage Quick Reference
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience Required (# of Fix & Flip or Rentals) | 0 | 1–2 | 3–4 | 5–9 | 10+ |
| Max Budget | $100K | $500K | $500K | $500K | $500K |
| Holdback Max | 100% of renovation budget | 100% | 100% | 100% | 100% |
| Minimum FICO | 680 | 680 | 660 | 660 | 660 |
| Max LTC | 75%–90% (based on FICO) | 75%–90% | 85%–90% | 90% | 90% |
| Max LTFC | N/A | N/A | N/A | 90% | 90% |
| Max ARLTV | 75% | 75% | 75% | 75% | 75% |
Tier 1 – First-Time Investors
Experience: 0 properties
Max Budget: $100K
Min FICO: 680
Max LTC: 75%–90% (based on FICO)
Rehab Holdback: 100%
Max ARLTV: 75%
Tier 2 – 1–2 Projects
Experience: 1–2 properties
Max Budget: $500K
Min FICO: 680
Max LTC: 75%–90%
Rehab Holdback: 100%
Max ARLTV: 75%
Tier 3 – 3–4 Projects
Experience: 3–4 properties
Max Budget: $500K
Min FICO: 660
Max LTC: 85%–90% (740+ FICO)
Rehab Holdback: 100%
Max ARLTV: 75%
Tier 4 – 5–9 Projects
Experience: 5–9 properties
Max Budget: $500K
Min FICO: 660
Max LTC: 90%
Max LTFC: 90%
Max ARLTV: 75%
Tier 5 – 10+ Projects
Experience: 10+ properties
Max Budget: $500K
Min FICO: 660
Max LTC: 90%
Max LTFC: 90%
Max ARLTV: 75%
We’ve Funded Over 15,000 Fix & Flips Nationwide
Fast closings. Same-day draws. First-time flippers welcome. Let’s get your deal funded.
Why Our Fix and Flip Loans Work for Investors
- Competitive leverage: Finance up to 90% of the purchase price and 100% of renovation costs, based on ARV.
- Fast closings: Close in as little as 7–8 days when the deal is properly structured.
- Streamlined renovation draws: Same-day draw funding through mobile submissions for quick rehabs.
- Programs for all experience levels: First-time and seasoned investors can qualify with flexible underwriting.
How the Fix and Flip Loan Process Works
- Submit your deal: Share property details, renovation scope, and estimated ARV for review.
- Receive loan terms: Pricing, leverage, and structure are issued based on your deal.
- Appraisal and underwriting: Appraisals are typically completed in 3–5 days, followed by underwriting approval.
- Close and fund: Approved loans are sent to closing attorneys, with funding often completed within a week.
Updated Fix and Flip Loan Guidelines for 2026
- First-time investors: Eligible for projects with rehab budgets up to $100,000 at up to 80% purchase and 100% renovation financing.
- High-FICO programs: Borrowers with a 740+ mid FICO and limited recent flip history may qualify for enhanced leverage.
- Experience credit: Prior flips outside the last 36 months may count toward experience tiers.
- Same-day draw funding: Renovation draws funded using mobile uploads for streamlined approvals.
Fix & Flip Lending Topics
Explore Fix & Flip Topics:
- Private Lenders for Flipping Houses
- Fix & Flip Draw Process Explained
- First-Time Flipper? Here’s How to Get Funded Fast
- Case Study: Historic Fix & Flip in Brunswick, GA
- Case Study: $700K ARV Fix & Flip in Branchburg, NJ
- Fix & Flip vs Bridge Loan – What’s the Difference?
- How to Calculate Your Max Offer Using the 70% Rule
- Fix & Flip Loan Requirements – What Lenders Really Want
- What Is a Fix & Flip Loan?
Our New Draw Process – Same-Day Draw Funding
We now fund renovation draws the same day you submit your request using the Snap App. The process is simple and streamlined:
- Request the Snap App link: Let us know what you need to draw for.
- Receive the app link: Within 30 minutes, you’ll get a link to access the Snap App.
- Upload property photos: Go to the property, open the app, and upload your renovation photos.
- Same-day funding: If photos are submitted by noon ET, your wire will be sent the same day.
Recent Fix & Flip Case Studies
Putnam County, NY
ARV: $390,000
Purchase Price: $175,000
Rehab Budget: $83,900
Loan Amount: $232,650 59% LTC
Term: 12 months
Branchburg, NJ
ARV: $700,000
Purchase Price: $225,000
Rehab Budget: $227,500
Loan Amount: $403,000 57.6% LTC
Term: 12 months
Dix Hills, Long Island, NY
ARV: $1,157,000
Purchase Price: $825,000
Rehab Budget: $96,000
Loan Amount: $756,000 80% LTC
Term: 12 months
Brunswick, GA
ARV: $840,000
Purchase Price: $461,000
Rehab Budget: $180,000
Loan Amount: $540,000 78% LTC
Term: 12 months
Fix & Flip Loans – Investor FAQs
What is a fix and flip loan?
A fix and flip loan is short-term financing for real estate investors to purchase, renovate, and resell properties quickly. These loans focus on the property’s potential and ARV rather than borrower income, making them ideal for fast-moving markets.
How does a fix and flip loan work?
Loans are underwritten based on the property value and renovation scope. Most programs offer interest-only payments with short terms, allowing investors to complete renovations and sell efficiently.
What is the 70 percent rule in fix and flip investing?
The 70% rule helps investors calculate the max purchase price: ARV × 70% – Rehab Costs = Maximum Purchase Price. This ensures sufficient profit margins and is used for quick deal analysis. Learn more about the 70% rule.
How much can I borrow for a fix and flip?
Investors can borrow up to 90% of the purchase price and often 100% of renovation costs, depending on property type, deal structure, and market conditions.
Do I need good credit for a fix and flip loan?
Credit is reviewed, but approval focuses more on property feasibility and project strength than personal credit scores.
What types of properties qualify for fix and flip loans?
Eligible properties include single-family homes, 1–4 unit residential properties, and select small multifamily assets in active investment markets.
How fast can a fix and flip loan close?
Most loans close within 7–10 days, enabling investors to compete with cash buyers on time-sensitive deals.
Are pre-approval letters available for fix and flip loans?
Yes, same-day pre-approval letters help investors submit competitive offers confidently.
Can fix and flip loans be closed in an LLC or business entity?
Yes, loans can be closed in LLCs or other business entities, which is common for professional investors.
When is a fix and flip loan not appropriate?
These loans are strictly for investment properties and are not suitable for primary residences or owner-occupied homes.
Who oversees the fix and flip loan programs?
Ken Vesely personally oversees programs. With 25,000+ funded real estate transactions, his experience spans fix and flips, ground-up construction, and DSCR lending.
Ken Vesely personally oversees fix and flip loan programs. With more than 25,000 funded real estate transactions, his experience spans fix and flip projects, ground-up construction, and long-term DSCR lending.