Fix and Flip Loan Requirements: What You Need to Get Funded

A fix and flip loan is short-term, business-purpose financing that funds both the purchase and the rehab of a property you intend to renovate and sell. Because it is asset-based, approval hinges less on your paystubs and more on the deal.

The numbers a lender underwrites

• Purchase leverage — we fund up to 90% of the purchase price, so you bring roughly 10% plus closing costs.
• Rehab funding — up to 100% of the renovation budget, reimbursed in draws as work is completed.
• ARV (after-repair value) — the appraised value once the work is done. Most lenders cap total loan exposure at a percentage of ARV.
• Interest reserve — when the ARV supports it, payments can be deferred for the life of the loan so your cash stays in the deal.

What you bring to the table

• Down payment and closing costs on the purchase
• A realistic, itemized scope of work and budget
• A credit profile in reasonable shape (asset-based, but it still matters)
• Experience helps with leverage, but first-time flippers can still get funded

How draws work

You fund the rehab as you go and get reimbursed quickly as milestones are inspected. A dedicated closer stays on your file from term sheet to payoff, and a complete application with title can fund in as few as 5-7 days.

Speeding up the close

Have the purchase contract, scope of work, and entity documents ready, and order title early. The cleaner the file, the faster the money.