Eligible Property Types
- Non-owner-occupied single-family residential (1–4 units)
- Townhomes and attached residential investment properties
- Condominiums (investor-owned, subject to project eligibility)
- Small multifamily (2–4 units) for renovation and resale
- Residential properties requiring moderate-to-heavy rehabilitation
Common Use Cases
- Purchase and renovation of distressed residential investment properties for resale
- Acquisition of investor-owned properties requiring structural or cosmetic rehabilitation
- Short-term rehab bridge prior to refinance into long-term DSCR or sale
- Renovation of purchased REO, short sale, or off-market investment properties
- Investor portfolio flips requiring multiple concurrent transaction capacity
Typical Borrower Profile
- Experienced residential real estate investors with a documented rehab track record
- Sponsors with 2 or more completed fix-and-flip or renovation projects
- Real estate investment professionals operating at scale
- Single-project sponsors with strong experience credentials and solid exit plan
Required Documentation
- Executed purchase contract (for acquisition) or title/deed (for refinance)
- Detailed scope of work and renovation budget
- Comparable sales analysis supporting ARV estimate
- Borrower track record and completed project history
- Borrower entity documents and credit authorization
- Property appraisal or BPO (subject to program)
- Draw schedule aligned to renovation milestones
Frequently Asked Questions
How is a fix-and-flip loan structured?
Fix-and-flip loans provide purchase financing at closing, with renovation funds held in reserve and disbursed via inspection-based draws as work is completed. Loan amounts are based on the purchase price plus renovation budget, subject to loan-to-cost (LTC) and loan-to-ARV (after-repair value) guidelines.
What is after-repair value (ARV)?
ARV is the estimated market value of the property after all planned renovations are complete. Lenders use ARV to assess the exit feasibility and loan sizing. A maximum LTV of ARV is applied (typically 65–75%) to ensure there is sufficient equity cushion for the lender.
Do I need prior flip experience to qualify?
Sponsor experience is a significant underwriting factor. Borrowers with a documented track record of completed projects typically receive more favorable terms. First-time or limited-experience investors are evaluated on a case-by-case basis with appropriate structure and compensating factors.
Can I refinance into a DSCR loan after renovation?
Yes. A common exit strategy for fix-and-flip borrowers who choose to hold the property as a rental is to refinance into a long-term DSCR loan once the property is stabilized with a tenant. We can discuss both the fix-and-flip and the DSCR take-out option at the time of origination.
Request Preliminary Terms
Submit your loan request summary and a member of our originations team will follow up to discuss preliminary terms.
Submit a Loan Request Contact OriginationsEligible Markets
Lending is limited to the Top 200 U.S. MSAs. Rural and low-population markets are not eligible.
Subject to underwriting, collateral review, borrower qualification, and lender approval. Not a commitment to lend.
Related Programs
How the Preliminary Term Process Works
Programs are available for qualified sponsors, developers, brokers, and real estate investors. Preliminary terms are subject to underwriting, valuation, market conditions, borrower qualifications, collateral review, and final credit approval.
Step 01
Submit Loan Request Summary
Provide property address, loan amount requested, use of proceeds, and sponsor information through our secure loan request submission portal.
Step 02
Preliminary Review
Our originations team reviews the submission and responds with a preliminary indication of interest and any additional information needed.
Step 03
Term Sheet Issuance
If the loan request meets our program criteria, we issue a preliminary term sheet outlining structure, pricing, and conditions for formal underwriting.