Fix-and-Flip Loans: How Real Estate Investors Close in 10 Days When the Bank Says No

If you have ever found the perfect distressed property – the kind with real upside, a solid ARV, and a motivated seller – you already know the feeling. You run the numbers. The deal works. Then you call your bank.

Six to eight weeks minimum. A full appraisal. Environmental study. Proof of seasoned reserves. And a property condition that most conventional lenders will not touch because it is not move-in ready.

By the time the paperwork clears, the deal is gone.

This is not a niche problem. It is the structural reality of conventional lending: banks are not built for fix-and-flip timelines. Private fix-and-flip lenders are.

What a Fix-and-Flip Loan Actually Covers

A purpose-built fix-and-flip loan has a completely different structure than a conventional mortgage. Instead of valuing the property as-is, private lenders underwrite against the After Repair Value (ARV) – what the property will be worth after your renovation is complete.

That distinction changes everything:

• Purchase funding: up to 90% of the acquisition price
• Rehab funding: up to 100% of renovation costs, released in draws as milestones are hit
• Timeline: 10-14 days to close (not 6-8 weeks)
• Credit requirements: deal-based underwriting, not W-2-based qualification

The lender’s question is not “what does this borrower earn?” It is “does this deal pencil?”

The Deal Math (a realistic example)

Purchase price: $280,000. Estimated rehab: $65,000. ARV: $420,000.

Gross profit potential: $75,000 minus carry costs and fees over a 90-day hold. That is a deal a conventional bank cannot underwrite because the property is not yet livable. A fix-and-flip lender can fund the whole thing – purchase plus rehab – and get you to the finish line before the contract expires.

This is why experienced flippers do not go to their bank. They already know the answer.

What You Actually Need to Qualify

Fix-and-flip lending is experience-weighted, not income-weighted. You do not need pristine W-2 income. You need:

• A viable property and a realistic scope of work
• Some real estate investing experience (even light experience helps)
• A reasonable exit strategy – resale or refinance
• A deal that pencils at a conservative ARV

Bad credit does not automatically disqualify you. The deal quality and your experience track record carry far more weight than a FICO score in the private lending world.

Why Speed Is the Actual Product

In a competitive market, the investor with committed capital wins. A 30-day close from a conventional lender (on a good day) loses to a 10-day close from a private lender every time. Fix-and-flip investors who can close fast can negotiate better prices, take more deals, and build portfolio faster than those waiting on bank underwriting committees.

Speed is not a nice-to-have. It is the competitive advantage.

States We Cover

Our lender network covers fix-and-flip deals in Florida, Texas, Georgia, South Carolina, North Carolina, Tennessee, Ohio, and most other states. Ground-up construction draw schedules are also available for builders and spec developers in these same markets.

How to Apply

The application takes about two minutes. You will share the property address, your estimated purchase price, rehab budget, and ARV – and we match you against our lender panel.

There is no commitment to apply. No cost. And you get a real answer fast.

Apply for a fix-and-flip loan at slatefinancial.io/apply/fix-and-flip

Funding is subject to lender approval. Loan terms, rates, and eligibility vary by lender and deal profile. Results not typical.

The Bottom Line

Banks are not your enemy – they are just built for a different borrower profile. If you are doing fix-and-flip, ground-up construction, or bridge lending, the private lending market exists precisely for you. The underwriting is deal-based, the timelines are investor-friendly, and the answer comes in days, not months.

If your bank said no to your last deal, the deal may have been fine. The lender was just wrong for the asset class.

See what your fix-and-flip deal qualifies for – apply in 2 minutes.

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