Can You Get 100% Financing on a Fix and Flip?

Yes, if you have the experience. With 10 or more completed flips in the last 3 years and a credit score of 720 or higher, you can get 100% of the purchase and 100% of the rehab, so there's no down payment. With 5 or more flips and a 700+ score, you can get 95% of the purchase and 100% of the rehab. New investors with a 700+ score can still get 90% of the purchase and 100% of the rehab.

Who qualifies for 95% or 100%

These programs are for experienced investors only. For 100%, you need 10 or more completed flips in the last 3 years, with at least 5 of them in the same state as the new property, and a credit score of 720 or higher. The loan can be up to $800,000, and the lender makes no exceptions. Flips done by your partners on the loan count toward the 100% program, so two partners can add theirs together. For 95%, you need 5 or more completed flips in the last 3 years and a score of 700 or higher. Both are for light to moderate rehabs. Heavy rehabs and large additions get less.

What still has to work

The deal has to carry the loan. Even at 95% or 100%, the loan can't be more than 75% of the after-repair value, so you need to be buying well. These loans need a full appraisal, so plan on 2 to 3 weeks to close. For loans less than 95% loan to cost we have options where no appraisal is required. You'll still need cash for closing costs and several months of payments in the bank.

If you don't qualify yet

With a credit score of 700 or higher, new investors can get up to 90% of the purchase and 100% of the rehab, which means about 10% down. Some of our lenders also allow gap funding, and we can refer you to a gap funding partner to help cover the down payment. Rehab money is paid out in draws as the work gets done. When the rehab is finished, you can sell or keep the property and refinance into a 30-year fixed rental loan. We finance fix and flips on 1-4 unit homes across North Carolina, Georgia and Virginia.

Related questions

Can you get a fix and flip loan with no experience?

How fast can you close a fix and flip or rental loan?

Fix and flip loans

Investment property only. Business-purpose loans, never owner-occupied. Terms vary by experience, credit, liquidity, and project strength. Subject to underwriting and approval. Not every deal or borrower will fit every program. This is not a commitment to lend.