How to Fund a Fix-and-Flip Deal Without a Bank (And Close in 10-15 Days)

If you have ever tried to get a bank to fund a fix-and-flip deal, you already know the punchline: by the time they finish underwriting, the property is gone.

Banks operate on a 60-to-90-day underwriting cycle. Fix-and-flip deals live and die in 2 to 3 weeks. That is not a speed problem – it is a structural mismatch. Banks were built for 30-year mortgages, not 90-day rehab projects. The investors who figure this out early build real portfolios. The ones who keep going back to their bank keep losing deals.

Here is what actually works.

What Is a Fix-and-Flip Loan?

A fix-and-flip loan is a short-term bridge loan designed specifically for investors buying distressed properties, rehabbing them, and reselling for a profit. Unlike a conventional mortgage, these loans are underwritten on the deal – the after-repair value (ARV), the scope of work, and the borrower’s exit strategy – not just the borrower’s tax returns and W2.

The typical fix-and-flip structure covers up to 90% of the loan-to-cost (LTC), meaning the lender funds most of the purchase price plus the rehabilitation budget. Draws are released in stages as work is completed and inspected.

Why Banks Keep Saying No

Banks are not the enemy – they are just the wrong tool. Here is what they are looking at when you walk in with a flip:

• FICO score above 720 – most hard money lenders do not require this
• 2 years of W2 or tax returns – showing business income as a flipper actually hurts you here
• Seasoned real estate investment history – first-time flippers are automatically rejected
• 6-to-8 week underwriting timeline – that property will be under contract with someone else

None of these make sense for a 90-day rehab deal. Private fix-and-flip lenders evaluate the deal on its own merits.

What Fix-and-Flip Lenders Actually Look At

When you apply for a fix-and-flip loan through a lender like those in the Slate network, the underwriting looks completely different:

• The after-repair value (ARV) – what comparable properties are selling for post-rehab
• The scope of work – a contractor estimate or a solid rehab budget
• Your exit strategy – sell or refi, and how long it will realistically take
• Your equity in the deal – most lenders want 10-20% skin in the game

Your tax return is not the story. The deal is the story.

The Numbers That Make It Work

Here is a simple deal model: a 00,000 purchase price on a distressed property with 0,000 in rehab, a 40,000 ARV, and a resale target of 20,000.

• Total project cost: 60,000
• 90% LTC = 34,000 funded by the lender
• Your equity in: 6,000
• Gross profit at 20K sale: 0,000
• Less loan costs and closing: net profit approximately 5,000 to 2,000

That is a single deal cycle. Do two per year and you are outperforming the S&P on deployed capital.

Results are not typical. Every deal is different. Funding is subject to lender approval.

The Timeline That Actually Works

Banks: 60 to 90 days to close, if they say yes.

Fix-and-flip lenders in the Slate network: 10 to 15 days from application to close.

That timeline difference is the difference between winning a deal and losing it to a cash buyer. Speed is the product.

How to Apply

Slate Financial works with a network of fix-and-flip lenders across FL, TX, GA, SC, and most other states. One application, matched to the right lender for your deal. No bank theater.

Start your application here – it takes 3 minutes.

You will need the property address, your purchase price, estimated rehab budget, and your exit strategy. That is it.

If your bank already said no, that is not a rejection – it is just the wrong tool. We fund the deals banks walk away from every day.

Funding is subject to lender approval.

Apply now – see what your deal qualifies for.

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