Fix-and-Flip Loans: How to Get Funded When the Bank Says No

You found the deal. The numbers work – 65% ARV after a solid rehab, a realistic exit, and a seller ready to move. Then you sat across from your bank loan officer and watched the opportunity die in real time.

“We need your last three years of W2s. The property has to be in livable condition for us to appraise it. Construction goes through a separate committee. Underwriting takes 60 to 90 days.”

Your deal closes in 21 days.

This is not a story about your credit score. It is a story about using the wrong tool for the job. Banks were built for 30-year mortgages – not six-month rehab projects. Real estate investors doing fix-and-flip deals need a different kind of lender entirely.

Why Traditional Banks Pass on Fix-and-Flip Deals

Banks are not structured to fund distressed properties. Their underwriting models were built for a different asset class. Here is what they require:

• Properties in livable, appraisable condition – not a distressed shell you are about to rehab
• W2 income or documented business cash flow as the primary repayment source
• Processing timelines measured in months, not weeks
• Clean, stabilized collateral that fits their standard underwriting boxes

None of those conditions fit a fix-and-flip. The entire model is buying a property that needs work, improving it, and selling it – ideally before the bank has finished processing your application.

What Private Fix-and-Flip Lenders Actually Look At

Private and bridge lenders purpose-built for real estate investors underwrite the deal, not your tax return. The key criteria typically include:

• After-Repair Value (ARV): What the property will be worth after the rehab is complete. This is the foundation of the loan-to-value calculation.
• Loan-to-Cost (LTC): Many lenders cover a substantial portion of your total acquisition plus rehab cost. Exact percentages vary by lender and your deal profile.
• Exit strategy: Are you selling or refinancing out of the bridge position? Lenders want a clear, realistic plan.
• Experience: First-time investors can qualify – especially at more conservative loan structures. A proven flip history typically opens up more options.
• Credit: A factor, but not the only one. Many lenders in our network work with borrowers who would not qualify at a traditional bank.

Funding is subject to lender approval. Underwriting criteria and available loan structures vary by lender and individual deal.

How the Process Works at Slate Financial

Slate Financial is a technology-enabled lending brokerage. We match real estate investors with private lender options from our network across the country. Here is what the process looks like:

1. Submit your deal at slatefinancial.io/apply/fix-and-flip. Tell us the property address, your purchase price, estimated rehab cost, and your after-repair value estimate. It takes about two minutes.
2. We match you. Our team reviews the deal against our lender network and identifies options that fit your profile and deal structure.
3. You choose. We present the lender options, their requirements, and what they need from you. You decide what works.
4. Close. Private lenders move significantly faster than traditional bank underwriting. Exact timing depends on the lender, deal complexity, and how quickly documentation is provided.

Markets We Currently Cover

Our lender network has strong depth in active fix-and-flip markets including Florida, Texas, Georgia, South Carolina, North Carolina, and beyond. If you are outside those states, submit your deal and we will confirm whether we have coverage in your area.

Is a Fix-and-Flip Bridge Loan Right for You?

These loans are designed for:

• Real estate investors buying distressed properties to rehab and resell
• Investors who need to move fast to win competitive or off-market deals
• Experienced flippers looking to scale without locking up all their own capital
• Newer investors with strong deals who cannot qualify through traditional lenders

They are not designed for long-term buy-and-hold strategies (that is a DSCR or rental loan), already-stabilized commercial properties, or primary residence purchases.

Ready to Fund Your Next Deal?

If you have a deal in the pipeline – or a property you are still underwriting – submit it at slatefinancial.io/apply/fix-and-flip. Tell us the property, your numbers, and your exit plan. We will come back with lender options that actually fit.

Funding is subject to lender approval. Results are not typical – deal outcomes vary by property, borrower profile, and market conditions. Slate Financial is a broker, not a direct lender, and does not guarantee approval, specific loan amounts, or funding timelines.

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