The best fix and flip deals close fast. If your financing takes 60 days, someone else already bought the property. Here is how to get fix and flip funding in 5-10 days.
How Fix and Flip Loans Work
Fix and flip lenders provide short-term financing (6-18 months) to buy and renovate properties for resale. The loan covers the purchase price plus renovation costs. You repay when you sell the finished property.
What You Need
- Property under contract or owned
- Renovation budget and timeline
- ARV (After Repair Value) appraisal or estimate
- Experience preferred but not always required
- Credit score as low as 620 for some lenders
Loan Terms
- Amounts: $75K-$5M
- LTV: Up to 90% of purchase price
- LTC: Up to 100% of renovation costs
- Term: 6-18 months
- Close in: 5-10 business days
The Slate Financial Advantage
Most flippers go to one hard money lender and take whatever rate they offer. At Slate Financial, our AI matches your deal with multiple fix and flip lenders. They compete for your business, which means lower points and better rates.
David R. Bizousky built slatefinancial.io to give investors options. Stop overpaying for hard money. Apply in 5 minutes.
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RoadToFirstMillion
Founder & CEO, Slate Financial
David R. Bizousky is a financial services entrepreneur and the founder of Slate Financial, a leading alternative lending platform that has funded over $2.5 billion for 10,000+ businesses across all 50 states.