Can You Get a Fix and Flip Loan With No Experience?

Yes. Most of the lenders we work with don't require experience on a fix and flip. With a credit score of 700 or higher, a first-time flipper can get up to 90% of the purchase and 100% of the rehab, which means about 10% down.

What lenders look at instead

Three things decide the loan: the deal, your credit score and your cash. The numbers on the deal have to work, and most lenders cap the loan at about 70% to 75% of the after-repair value. You'll need cash to close plus several months of payments in the bank shown on your bank statements. Income doesn't enter it: no tax returns, no W-2s.

Tips for your first flip

Start with a cosmetic or moderate rehab. Heavy gut jobs and additions get less leverage for first-timers, and some lenders won't do them at all. Partnering with an experienced flipper can help, since some lenders count a partner's completed flips toward the loan. Some of our lenders also allow gap funding, and we can refer you to a gap funding partner to help cover the down payment. The loan sits in your LLC and doesn't report on your personal credit. If you decide to keep the property, it can roll into a 30-year fixed rental loan when the rehab is done. We finance fix and flips on 1-4 unit homes across North Carolina, Georgia and Virginia, and they usually close in 2 to 3 weeks, but we also have options for very quick closes.

Related questions

Fix and flip loans

Do you need 20% down for a DSCR loan?

Can you refinance right after a rehab?

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

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.