Bank Said No to Your Fix-and-Flip? Here’s How to Fund It Without Them

You found the deal. The numbers work. ARV covers your rehab with room to spare. Then your bank says the two words that kill more flips than bad contractors ever will: “We can’t.”

Conventional banks are structurally unable to fund most fix-and-flip properties. It’s not personal – it’s their underwriting box. But that doesn’t mean the deal is dead. Apply at slatefinancial.io and see what you qualify for today.

Why Banks Say No to Fix-and-Flip Deals

Banks underwrite YOU: your W2, your DTI, your credit score, your tax returns. They treat a 6-month flip like a 30-year primary residence loan. That mismatch creates three problems:

• Property condition: Distressed properties fail standard appraisals. Banks won’t lend on a house with a compromised structure – the things that make a flip a great deal.
• Timeline: Bank underwriting takes 45-90 days. Most sellers won’t wait that long.
• Intent: Banks penalize short-term investment intent in underwriting.

What Fix-and-Flip Lenders Actually Look At

Private and hard money lenders underwrite the deal, not you:

• After-Repair Value (ARV)
• Loan-to-cost (LTC) ratio – many programs up to 90%
• Realistic rehab scope
• Exit strategy (sale or refi)

Bad credit is not an automatic no. The deal carries more weight than your FICO.

How Fast Can You Close?

• Pre-approval: Same day to 48 hours
• Full underwriting: 3-7 business days
• Close: 10-15 business days from application

The Real Cost of Waiting on the Bank

If your monthly holding costs run $3,000-$4,000, a 60-day bank delay costs you $6,000-$8,000 before you’ve swung a hammer. That typically wipes out any rate savings from going conventional. Most experienced flippers run this math once and never go back.

Ready to Fund Your Next Flip?

Slate Financial works with a network of private and hard money lenders across FL, TX, GA, SC, and most major U.S. markets. The application takes about 3 minutes.

Apply at slatefinancial.io/apply/fix-and-flip – funding is subject to lender approval.

FAQ

Do I need good credit?

Credit matters less with fix-and-flip lenders than with banks. Many programs work with scores in the 600s. All funding subject to lender approval.

First-time flippers?

First-time flippers can qualify. Some lenders require an experienced contractor on the project.

What states do you cover?

All 50 states, with strong lender coverage in Florida, Texas, Georgia, and the Carolinas.

How do rehab draws work?

Draws are released in stages as work is completed and inspected. Your lender sets the draw schedule at closing.

The deals that make flippers wealthy are distressed, fast-moving, and priced for risk – everything banks won’t touch. Apply at slatefinancial.io/apply and see what your deal qualifies for today.

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