Fix & flip loans for investors who own a rental
Own one rental? Let’s fund the next flip.
One loan for the purchase and the rehab. Interest-only payments while you work. Then about 6 to 18 months to sell it, or refinance and keep it as rental number two.
A Featured Lender on BiggerPockets, financing rentals and flips for real estate investors.
The second-deal problem
The second deal is the hard one.
Your first rental took your savings. Now the next property needs a down payment, a rehab budget, and a lender who will finance a house with no kitchen.
A bank mortgage is built for move-in-ready homes and steady paychecks. A fix and flip loan is built around the deal.
so you’re not floating the whole rehab yourself
The down payment
Your down payment may already be in your rental.
Lenders typically want 10 to 20 percent of the purchase price plus the rehab in the deal. If your rental has gone up in value, or you’ve paid it down, that equity can become your cash.
The two common ways are a cash-out refinance on the rental or a line of credit against it. You keep the house and the rent.
Example flipFor illustration
- Purchase price
- $180,000
- Rehab budget
- $45,000
- Project cost
- $225,000
- Your share at 10–20%
- $22,500–$45,000
Example only. Your actual down payment depends on the lender, the property and your experience.
this part can often come from your rental’s equity
How it works
From contract to closing to exit.
Tell us about the deal
The address, purchase price, rehab budget and what you plan to do when it’s done. The short questionnaire on this page is where it starts.
We find the loan that fits
We work with multiple lenders, so the loan is matched to your project. You’ll see the terms and your cash to close before anything is final.
Close and start the work
The loan funds the purchase at closing. Rehab money is released in draws as each phase is finished, and you pay interest-only along the way.
Sell it or keep it
Most fix and flip loans run about 6 to 18 months. Pay it off with the sale, or refinance into a long-term rental loan and keep the property.
What lenders usually look for
The numbers, in plain English.
You won’t find rates on this page. Pricing moves with the deal, your experience and the market, so a number here would be a guess.
Send us your deal and we’ll show you real terms.
Fix & flip loan
Typical terms
- Down payment
- 10–20% of the purchase price plus rehab
- Credit score
- Around 650 or higher is a common minimum
- Loan term
- About 6 to 18 months
- Payments
- Interest-only during the project
- Rehab funds
- Released in draws as work is completed
- More than one property
- Yes, depending on the lender and your track record
- Bring with you
- Proof of funds, a rehab plan with costs, and your investing experience
Typical ranges across lenders. Not a quote, rate lock or commitment to lend.
your rental counts. tell us about it.
The exit
Sell it for the profit, or keep it for the rent.
If you sell
Sell it
List it, sell it and pay off the loan. What’s left is your profit, and often the down payment on the next one.
If you keep it
Keep it
Refinance into a 30-year fixed DSCR rental loan that qualifies on the property’s rent, not your paycheck. It pays off the flip loan and the house becomes rental number two.
See DSCR rental loans
“If we had known about 30-year fixed debt… we would have kept a lot more.”Neil Galas, Founder, on the houses he and Dalton sold
Who you’ll work with
We’ve been on your side of the deal.
Some of us have flipped and rented out houses ourselves, so we read a rehab budget the way you do.
Neil Galas
Founder
NMLS #2023721
Angela Chappell
Loan Officer
NMLS #295907
Oscar Barrera Jr
Loan Officer
NMLS #2591973
Dalton Daeges
Investment Loan Specialist
About 10 years investing
100+ flips of his own
Behind the scenes, these are the people who keep your file moving.
Jessica Courtney
Senior Loan Processor
Nate Wymer
Loan Partner
Brian Stephens
Loan Partner
“Hands down the best lender in the market! I’ve trusted Neil for every deal I’ve done and he’s always available for myself and my clients.”
“We have closed multiple finances and refinances with Neil… Neil has access to multiple lenders and loan products that work the best for you and your property.”
“Neil was great to work with for our latest property. He was quick to respond, had all the answers to our many questions, and got us to closing without issues.”
Your next deal
Got a deal in mind?
Tell us about it in the short questionnaire below. Someone on our team will follow up to talk through the numbers with you.
Surf our website to learn about our company, see our loan programs, and request a free consultation.
Get started today!
Fill out the questionnaire on this page to start a discussion about your mortgage needs today!
Frequently Asked Questions
What is a Fix and Flip Loan?
A Fix and Flip loan is short-term financing used to purchase, renovate, and quickly resell a property for profit. It’s designed for real estate investors who specialize in buying undervalued homes, making improvements, and reselling them on the market.
How does a Fix and Flip loan work?
These loans typically provide funds for both the purchase price and the renovation costs. Funds are released in stages as work is completed, and repayment usually occurs once the property is sold or refinanced.
Who are Fix and Flip loans best suited for?
They’re ideal for real estate investors and house flippers who have experience managing renovation projects and are looking for fast, flexible financing to complete short-term investment deals.
What are the typical terms of a Fix and Flip loan?
Fix and Flip loans are usually short-term—ranging from six months to about 18 months—with interest-only payments during the renovation period. Because they carry higher risk, interest rates are generally higher than long-term mortgage loans.
Can Fix and Flip loans be used for multiple properties?
Yes. Experienced investors often use these loans for multiple projects, depending on the lender’s approval and the borrower’s financial profile or track record of successful flips.
