Fix and flip loans
Fix and flip loans up to 90% of cost and 75% of ARV.
Fix and flip financing for the purchase plus the renovation, in one business-purpose loan. The purchase is funded at closing, the rehab budget is released in draws as work is inspected, and a typical file closes in 7–15 days. Send the deal once, with the scope of work and your track record, and we place it.
Fix and flip loan terms by experience
Your track record sets the tier. Three or more completed deals in the last 36 months unlocks the best pricing; first-time flippers are financed too, at slightly lower leverage.
| Term | Experienced (5+ deals) | Some experience (1–2) | New investor |
|---|---|---|---|
| Loan to cost | Up to 90%* | Up to 85% | Up to 80% |
| Loan to ARV | Up to 75% | Up to 70% | Up to 70% |
| Completed deals | 5+ | 1–2 | 0 |
| Minimum FICO | 620 | 620 | 650 |
| Loan size | $115k – $8M | $115k – $8M | $115k – $8M |
| Term | 12–18 months | 12–18 months | 12–18 months |
| Closing | 7–15 days | 7–15 days | 7–15 days |
How the money arrives
A fix and flip loan has two parts. The acquisition advance is funded at closing. The rehab budget is held back and released in draws: you complete a stage, request a draw, the lender inspects, and the money is released against your approved scope of work.
Refinancing a flip you already own
Cash-out up to 60% and rate-and-term up to 75%. Own the property more than 12 months to use as-is value; before that, the loan is sized on cost basis (purchase price plus documented improvements).
What gets a flip declined
- A round-number rehab budget instead of line items.
- An ARV supported by comps that are old, far away or not similar.
- Rural property, or a lot over two acres.
- Owner-occupancy — you cannot live in it, ever.
- Title in your personal name instead of an LLC.
Program snapshot
- Max loan to cost
- 90%
- Max loan to ARV
- 75%
- Rates from
- 10.25%
- Min FICO
- 620
- Loan size
- $115k – $8M
- Term
- 12 – 18 months
- Closing
- 7 – 15 days
- Property
- SFR, 2–4, condo, townhome
What to send
- Property address and purchase price
- Line-item rehab budget (Scope of Work template)
- ARV with three recent comps
- Completed deals (Experience Worksheet)
- LLC name and credit range
Fix and flip loan requirements
These are the requirements a private lender checks before issuing terms on a fix and flip loan. Meet all of them and a complete file typically closes in 7–15 days.
- Credit score: 620 minimum with completed deals; 650 minimum for a first flip.
- Experience: completed flips in the last 36 months set your leverage tier. First-time investors qualify at up to 80% of cost and 70% of ARV.
- Cash to close: whatever the loan-to-cost and loan-to-ARV limits don’t cover, plus closing costs, plus working capital to carry each stage until its draw is released.
- Scope of work: a line-item rehab budget, not a round number (Scope of Work template).
- ARV support: an after-repair value backed by three recent, nearby, similar comps.
- Property: single-family, 2–4 unit, condo or townhome; not rural, not on more than two acres, never owner-occupied.
- Borrower: an LLC or other business entity takes title.
- Loan size: $115k to $8M.
Example: cash to close on a flip
- Purchase price
- $200,000
- Rehab budget
- $50,000
- Total cost
- $250,000
- ARV
- $380,000
- 85% of cost (1–2 deals)
- $212,500
- 70% of ARV
- $266,000
- Loan (the lower figure)
- $212,500
- Your cash in the deal
- $37,500 + closing costs
Fix and flip loan questions
What are the requirements for a fix and flip loan?
A 620 minimum credit score (650 for a first flip), a line-item scope of work, an ARV supported by three recent comps, an LLC to take title, and cash for the part of the cost the loan doesn’t cover plus closing costs. The property must be a non-owner-occupied single-family, 2–4 unit, condo or townhome.
What is a hard money flip loan?
It is a short-term fix and flip loan from a private (hard money) lender, sized on the property’s cost and after-repair value rather than your personal income. Terms run 12–18 months, and the loan is repaid when you sell or refinance. See hard money loans for the full program.
Can I get a fix and flip loan with no experience?
Yes. First-time investors can borrow up to 80% of cost and 70% of ARV with a 650 minimum credit score. Each completed deal you can document moves you toward the top tier.
Does the loan cover the rehab?
Yes. The rehab budget is part of the loan and released in draws, as long as the total loan stays inside the loan-to-cost and loan-to-ARV limits for your tier. Whatever those limits do not cover is your cash in the deal.
How fast can a fix and flip loan close?
Typically 7 to 15 days from a complete file. The appraisal is usually the longest item, so order it the day terms are accepted.
What if I decide to keep the property?
Refinance into a DSCR rental loan qualified on the rent. Line it up before the flip loan matures, not in the last few weeks.
Do I pay anything to submit a deal?
No. Easy Lending USA charges no application, processing or upfront fee of any kind. We are paid by the lender only when a loan closes.
Easy Lending USA is not a lender, a bank, or a mortgage broker. We introduce real estate investors to independent private lenders, who make every credit decision. Business-purpose loans only, made to business entities and secured by non-owner-occupied investment property. Available in the states listed at the foot of this page.
Related programs
No renovation needed? A bridge loan funds on as-is value. Building from the ground? See ground-up construction loans. Five or more units? Use the multifamily and mixed-use bridge. Every program is compared on the loan programs page, and current terms are on the rates page. Deciding whether to sell or keep the house? See fix and flip vs BRRRR.
Run the numbers first. The free fix and flip calculator works out your profit, ROI and the maximum offer that still hits your target, beyond the 70% rule. For the loan in detail, including Dutch interest and offer comparison, use the hard money loan calculator.