A Rehab Loan (commonly known as a Fix & Flip Loan) is a short-term loan used in both commercial and residential real estate. This loan is designed to help an investor purchase and renovate a property in order to sell it at a profit.

Who Are Fix & Flip Loans Best For?

Fix and Flip loans are best for investors that need a loan that covers a portion of the purchase and construction costs needed to rehab the property. All levels looking to buy a property to renovate and resell after they are done with their project.

How Does A Fix & Flip Loan Work?

The borrower will identify a property that is selling below market value. The borrower then submits an application to the lender along with a scope of work or budget to show an estimate of what it will cost to rehab the home.  If approved the lender will cover up to 90% of the purchase price and 100% of the construction costs!

What Are The Qualifications For A Fix & Flip Loan

To qualify for this loan, you’ll need:

– A Copy of a valid state ID

– Copy of Entity Documents (LLC, S-Corp, Etc)

– 10%- 25% Down Payment on the property (Experience level determines down payment amount)

– Construction Budget or Scope of Work

– FICO score 620 minimum

– Record of Experience 

About Our Fix & Flip Loans

–  Close in less than 3 weeks

–  Rehab funds are financed up to 100%

–  Loan amount from $100k-$2.5M

– Typical Rates are from 8.99% to 13.99%

–  AirBnB’s, Rental Properties, Commercial Properties – Eligible.

Property Requirements

–  The property must be an Investment Property or a Primary Residence can be used if the loan is for a business.

–  Eligible property types include: Condos, Townhomes, Single Family Homes, Apartments, and Commercial Buildings

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