Can One Lender Finance a BRRRR Purchase and Refinance?

Yes. We handle both ends of a BRRRR: the loan that buys and fixes the property, and the 30-year fixed refinance that pays it off. With 10 or more completed flips in the last 3 years and a 720+ credit score, the first loan can cover 100% of the purchase and 100% of the rehab, and 5 or more flips with a 700+ score gets 95%. Partners on the loan can combine their flips to qualify. New investors with a 700+ score can get up to 90% of the purchase and 100% of the rehab. The refinance generally goes up to 80% of the appraised value, or 75% if you take cash out.

How the two loans fit together

The first loan buys the property and pays for the rehab, with the rehab money paid out in draws as the work gets done. Some of our lenders also allow gap funding, and we can refer you to a gap funding partner to help cover the down payment. Once the work is finished and the property is rented, you refinance into a 30-year fixed rental loan that pays off the first loan. The refinance is based on the property's rent, not your income, so there are no tax returns or W-2s. If the new value is high enough, a cash-out refinance pays off the first loan and puts cash back in your pocket for the next deal.

Timing the refinance

You don't have to wait 12 months like a bank would want. Taking cash out at the new value usually takes about 3 months of ownership, and some lenders give the full 75% only after 6 months. A lease is usually needed if you've owned the property more than 90 days. Plan the rehab and the move-in date around that, so the first loan doesn't run out before the refinance closes.

Doing it again

Our loans have no limit on how many properties you finance, and they don't report on your personal credit, so one BRRRR doesn't hold back the next. Send us the deal (price, rehab budget, expected rent and after-repair value) and you'll get initial terms for the purchase loan and the refinance the same day. We finance 1-4 unit homes across North Carolina, Georgia and Virginia.

Related questions

Can you refinance right after a rehab?

Can you get 100% financing on a fix and flip?

Do you need 20% down for a DSCR loan?

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.