Fix and flip loans for buy, renovate and resell projects
Short-term financing for investors who buy a property, renovate it and sell it. We compare lenders on leverage, draws and speed. Business-purpose loans only, for non-owner-occupied property.
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Overview
A fix and flip loan is short-term financing for an investor who buys a property, renovates it and resells it. The lender looks mainly at the deal: the purchase price, the renovation budget and the after-repair value, which is what the property should be worth once the work is done. These are business-purpose loans for non-owner-occupied property and cannot be used for a home that you or your family will live in.
Many lenders size the loan on both the purchase price and the rehab budget, with a limit based on the after-repair value. The renovation portion is usually held back and released in draws after an inspector confirms each stage of work. Interest-only payments are common during the project. Credit, cash reserves and your track record still matter, and investors with completed flips often qualify for better leverage and pricing.
Fix and flip lenders differ on leverage, draw speed, inspection fees, extension options and how they treat first-time investors. QMS compares private and hard money lenders, reviews your budget and timeline, and helps you choose the structure that fits the project. If you decide to keep the property as a rental, we can refinance it into a long-term DSCR loan. Business-purpose loans only. All loans are subject to credit approval and lender guidelines.
Commercial, multifamily, hard money, fix and flip and stated income loans are business-purpose loans and are not available for a home you will live in.
Is it a good fit?
- Are buying a property to renovate and resell
- Have a renovation budget and a realistic scope of work
- Want part of the renovation cost financed through draws
- Are closing in an LLC or other business entity
- Have completed flips before, or are ready for your first project
- May keep the property as a rental and refinance into a DSCR loan
What you'll need
- Purchase contract or auction terms
- Detailed renovation budget and scope of work
- Contractor bids or estimates, if available
- Entity documents, if closing in an LLC or corporation
- Bank statements showing down payment, closing costs and reserves
- List of completed projects, if any
- Government-issued photo ID
How it works
How it works with QMS
Review the deal
We review the purchase price, rehab budget and after-repair value to size the loan.
Compare lenders
We compare leverage, draw process, fees and experience rules across fix and flip lenders.
Close and fund draws
You close, start work and request draws as each stage is completed and inspected.
FAQ
Fix and Flip loan FAQs
Don't see yours? Call us or send a message. We answer the same business day.
305-425-1990How much can I borrow on a fix and flip loan?
It depends on the lender, the property and your experience. Many lenders look at the purchase price and the renovation budget together, then cap the loan based on the after-repair value. Experienced investors and stronger deals usually qualify for more leverage. We review your numbers with several lenders so you can see how each one would size the loan before you make an offer.
How do rehab draws work?
The renovation funds are usually held by the lender and released in stages. You complete part of the work, request a draw, and an inspector confirms the progress before funds are sent. Some lenders reimburse completed work and others advance funds for the next stage. Draw speed and inspection fees vary, and slow draws can stall a project, so we compare them before you choose a lender.
Can I get a fix and flip loan with no experience?
Many lenders accept first-time flippers, although terms may be more conservative, such as lower leverage or higher reserve requirements. Partnering with an experienced investor or contractor, or showing past renovation or real estate work, can help. As you complete projects and build a track record, terms often improve. We look for lenders whose experience rules fit where you are today.
What if the property does not sell when I planned?
Ask about extension options before you close. Many lenders offer extensions for a fee, and the terms vary. Another common exit is to rent the property and refinance into a long-term DSCR loan, which qualifies on the rent instead of your personal income. Before you buy, we can check whether the expected rent would likely support that refinance.
Get started
Know your numbers before you make an offer.
Tell us about your scenario and we'll price it across our lenders the same business day.