Fix-and-Flip Loans: How to Close in 10 Days Without Your Bank

You found the deal. The numbers work. Buy at $130K, put in $45K, sell at $210K. Clean margin, 90-day timeline, and you’ve done this before. Then you called your bank.

They asked for two years of W2s. Then three years of business returns. Then a personal financial statement. Six weeks passed. They said no.

That deal closed without you.

This is the reality for real estate investors trying to fund fix-and-flip projects through traditional banks. Banks are not built to evaluate investment properties – they’re built to protect deposits. That means they evaluate YOU, not the deal.

At Slate Financial, we do it differently. We read the deal. Apply for a fix-and-flip loan here and get matched to lenders who actually close flips.

What Banks Check vs What Actually Matters

Traditional lenders evaluate fix-and-flip loans through the lens of a 30-year mortgage. That means they focus on:

Your W2 income – irrelevant for a 90-day rehab project
Your personal debt-to-income ratio – doesn’t reflect the deal’s merit
Your credit score – one number that misses the whole picture

Here’s what actually determines whether a fix-and-flip deal funds:

Purchase price vs After Repair Value (ARV) – are you buying right?
Rehab budget vs exit margin – does the deal pencil after all costs?
Your track record as an operator – have you closed flips before?

Fix-and-flip lenders who actually close these deals evaluate the second list. That’s the difference between a 6-week underwrite and a 10-day close.

How Fix-and-Flip Loans Work

Fix-and-flip loans (also called bridge loans or hard money loans) are short-term financing products built specifically for property rehabilitation and resale:

Loan-to-Cost (LTC): Up to 90% of total project cost (purchase + rehab). You bring 10%, not a 20-25% bank down payment.
Term: Typically 6-18 months – long enough to complete the rehab and list the property.
Draw schedule: Rehab funds release in draws as work is completed, protecting both sides.
Close timeline: 10-15 business days from application to funded deal.

The property is the collateral. The ARV, purchase price, and rehab plan drive the underwrite – not your W2.

The Math on a Funded Fix-and-Flip

Here’s how a typical deal looks (fictional example – results not typical, funding subject to lender approval):

Purchase price: $130,000
Rehab budget: $45,000
Total project cost: $175,000
Loan at 90% LTC: $157,500
Investor brings: $17,500
After Repair Value: $225,000
Gross profit at ARV: $50,000

That’s a 28% return on a 90-day project. The bank said no. The right lender said yes – and funded in 11 days.

Who Fix-and-Flip Loans Are For

Slate Financial works with investors at every stage:

First-time flippers with a solid deal and a reliable contractor
Experienced operators scaling across multiple simultaneous projects
Investors with credit challenges – we fund the deal, not your FICO
Investors in FL, TX, GA, SC, and nationwide

Why Slate Financial

Slate Financial is an AI-powered brokerage that matches real estate investors to lenders who close fix-and-flip projects:

One application, multiple lenders: We match your deal to lenders whose box it fits.
10-15 day close: From complete application to funded deal.
90% LTC: Fund the purchase and the rehab with less capital out of pocket.
Credit-flexible: We evaluate the deal first.
Lender-paid: Our fee is typically paid by the lender inside the transaction – not by you.

Apply Now – Takes 2 Minutes

If you have a fix-and-flip in play – or you’re building your acquisition pipeline and want to know what you qualify for – start here:

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

Tell us the purchase price, the ARV, the rehab budget, and your state. We’ll match you to lenders who fund that exact deal type. No bank required.

Funding is subject to lender approval. Results not typical.

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