Fix and Flip Loans That Fund the Whole
The purchase and the renovation in one loan. Up to 90% of the purchase price at closing, 100% of the rehab budget held back and released as the work is done, interest only, nationwide.
Buy it on the loan, renovate it on the holdback, then sell it or refinance it into a DSCR rental loan with the same team. Leverage steps up with your track record, so the more projects you have finished, the more of the next one we fund.
One loan for the buy and the build.
A fix and flip loan is short-term financing for a property you intend to buy, renovate, and sell or refinance. It has two parts: an initial advance that funds the purchase at closing, and a construction holdback that funds the renovation. The holdback is not disbursed at closing; it is released in draws as each stage of the work is inspected and approved.
Interest accrues on the money actually disbursed once the loan is above $100,000, so a draw you have not taken is money you are not paying for yet. Loans are interest only with a balloon at maturity, sized against the purchase price, the renovation budget, and the after-repair value.
Run your own numbers first with the free ARV Estimator, Budget Builder, and Exit Strategy Stress Test.
- Up to 90% of the purchase price
- 100% of the renovation budget, held back and drawn
- Up to 75% of the after-repair value
- $50,000 to $1,000,000; larger loans by review
- 12-month term, interest only; 18 to 24 months on additions, expansions, conversions, and ADUs
- Non-owner-occupied 1-4 unit residential
- Nationwide - see Where We Lend
These are program maximums. Your leverage depends on your track record, the scope of the work, credit, and the property. Rate, points, and fees are quoted with the term sheet.
From contract to closing to draws.
The file is read on four numbers - purchase price, renovation budget, after-repair value, and what you have finished before - and it moves in the order below.
Address, purchase price, renovation budget, after-repair value, and your completed projects. A purchase contract and a line-item scope of work make it a complete file.
We size the loan against the price, the budget, and the ARV and respond with a term letter. The as-is valuation and appraisal are ordered as soon as you accept.
The initial advance funds the purchase at the closing table. The renovation budget is set aside as the holdback, ready to draw.
Request a draw against the line items you have completed, with photos. An inspection confirms the work and the funds are wired. Permits are needed before the first hard-cost draw.
Sell the finished property, or lease it and refinance into a nationwide DSCR rental loan without starting the file over.
Your track record sets your leverage.
Every investment property you have bought, renovated, and sold or refinanced in the last three years counts. The more you have finished, the higher the tier, and the more of the purchase price and the heavier the renovation we fund. Older projects count at half. An active real estate or contractor license lifts you a tier on its own.
Light renovation, purchases only, the most conservative leverage. A licensed contractor on the job and a market you know make it work.
Light, moderate, and heavy renovation. Purchases and refinances. Budgets up to twice your largest verified project.
Every renovation class including extensive work, additions, and conversions. Higher after-repair leverage opens here.
The program maximums on cost and after-repair value, with the widest range of project types and the lightest exit test.
Strong credit with a lighter track record can also qualify for higher leverage on a purchase, through our High FICO overlay. Ask when you send the deal.
Light to extensive. The budget tells us which.
The renovation class is the budget as a share of the purchase price. Heavier work needs more experience, and any project that adds square footage, converts the property, or builds an ADU is extensive regardless of budget.
Cosmetic work: paint, flooring, kitchens and baths, fixtures, landscaping.
Systems and finishes together: roof, mechanicals, windows, a full interior refresh.
Down to the studs: structural repairs, reconfigured floor plans, whole-house rebuilds.
Additions, expansions, conversions, and ADUs. Plans and permits or a stamped architect letter are required.
What fits the program.
- Non-owner-occupied single-family, 2-4 unit, townhome, PUD, and condominium properties (condominiums outside Florida)
- At least 700 square feet for a single-family home, 500 for a condo or per unit, and no more than five acres
- Purchases, delayed purchases, and refinances, including mid-construction refinances for experienced investors
- Auction, REO, and wholesale purchases, with the full chain of contracts and assignments
- Closed in your LLC or corporation, with a personal guaranty from the principals
- US citizens, permanent residents, and foreign nationals with a valid visa and US credit
- Business purpose only - never a property you or your family will live in
The holdback, released as you build.
The renovation budget is yours as the work gets done. Here is how it comes out.
Cost by division - demolition, roof, kitchen, electrical, and so on - with soft costs, demolition, and contingency each held to 10% of the budget and 25% together.
Close on a stamped architect letter if the permits are still in process; the permits are owed before hard costs are released.
Request against completed line items with dated photos. An inspection confirms the work; funds wire within a few business days.
Money moves between divisions on an approved revision; the total does not grow. The contingency line is there for surprises.
Each draw carries an inspection fee. Batch the work and draw when a phase is done.
The price, the budget, the ARV, the track record.
Send the basics and we respond with terms and next steps. Every fix and flip loan is sized on the actual deal - no published rate sheet or rigid online guideline replaces a review of the numbers.
- Property address
- Purchase price, or the original cost on a refinance
- Renovation budget and scope of work
- After-repair value
- Projects you have completed in the last three years
- Exit plan - sale or refinance
- Borrowing entity and contact information
Fix and flip, answered straight.
What is a fix and flip loan?
A fix and flip loan is short-term financing that funds both the purchase and the renovation of an investment property. An initial advance funds the purchase at closing; the renovation budget is held back and released in draws as the work is completed and inspected. The loan is repaid when the property is sold or refinanced.
How much of the purchase and the rehab do you fund?
Up to 90% of the purchase price and 100% of the renovation budget, capped at 75% of the after-repair value. Where you land inside those maximums depends on your track record, the scope of the work, credit, and the property.
How is my experience counted?
Investment properties you bought, renovated, and sold or refinanced in the last three years count in full; older projects, up to ten years back, count at half. Ownership is verified against public records, so list the address and the entity that held title. An active real estate or contractor license counts as a tier on its own and lifts a tier on top of verified projects.
Can I get a fix and flip loan on my first project?
Yes, for the right project: a light renovation on a purchase in a market you know, at more conservative leverage. A licensed general contractor on the job and a clear, profitable exit make a first project fundable.
How do draws work?
You request a draw against the line items on your scope of work that are complete, with photos. An inspection confirms the work and the funds are wired, usually within a few business days. Permits are required before the first hard-cost draw, and each draw carries an inspection fee, so fewer and larger draws cost less.
Do I pay interest on the holdback?
On loans above $100,000, interest accrues only on the funds actually disbursed, so the undrawn holdback does not cost you interest until you draw it. Loans under $100,000 accrue interest on the full loan amount.
What is the term, and can it be extended?
Twelve months, interest only, with a balloon at maturity. Projects that add square footage, convert the property, or build an ADU can run 18 to 24 months. An extension of up to half the original term is available for a fee, subject to approval; ask before maturity, not after.
What is the exit?
A sale, or a refinance into long-term financing. Every file is tested on the exit: a flip has to show a profit on your cash in the deal, or the finished property has to carry a rental loan on its own rent. If you plan to keep it, the refinance into a nationwide DSCR rental loan runs through the same team.
Can I refinance a project I already own?
Yes. Refinances are available from the second tier up, including mid-construction refinances for experienced investors on projects that are at least half complete with light to moderate work remaining. Send the original settlement statement, the payoff, and the costs spent so far.
What properties are eligible?
Non-owner-occupied single-family homes, 2-4 unit properties, townhomes, PUDs, and condominiums outside Florida, of at least 700 square feet (500 for a condo or per unit) on no more than five acres. Mixed-use, 5+ unit multifamily, commercial, and rural properties are handled on our bridge loans instead.
Where do you offer fix and flip loans?
Nationwide, with a short list of excluded states. See the current map on the Where We Lend page. Availability remains subject to the property, underwriting, documentation, and applicable law.
How fast do I get terms?
Send the price, the budget, the ARV, and your track record and we respond with terms and next steps after reviewing the file. The valuation is ordered as soon as you accept, and closing follows title and insurance.
Do you work with brokers on fix and flip loans?
Yes. Brokers get fast scenario reviews and a straight answer on whether a deal fits, on fix and flip, bridge, ground-up, and DSCR alike. Visit the Partners page to get started.
Fund the Whole Project.
Send the price, the budget, the ARV, and what you have finished before. We will respond with terms and next steps.