Fix and Flip Loans for First-Time Investors

You can be considered for a fix and flip loan without completed projects when the asset, execution plan, and borrower finances support the request.

We do not treat a training course as a completed renovation. A contractor who knows the building, written bids, and a borrower who can explain the job are more useful evidence. Relevant work in construction or property management can provide context, but responsibility for the project stays with you. Eligibility and terms depend on the actual file, not the label first-time investor.

Without a track record, underwriting puts more weight on purchase basis, rehab scope, supported after-repair value, exit, liquidity, and credit.

The contract price needs to make sense against the property's condition. Your scope should identify the work by trade and connect it to contractor pricing. Comparable sales should support the finished product you actually intend to build, not a larger or better home nearby. We also review cash available after closing and whether a sale or refinance can repay the loan. Credit is reviewed alongside these facts; we do not publish a score threshold here.

First-time borrowers typically get the strongest terms on light to moderate rehabs because the execution risk is easier to evaluate.

Paint, flooring, kitchens, and defined repairs are not risk-free, but they are easier to price than a property with unresolved structural work. Heavy and extensive rehabs are harder without experience. Opening walls can expose conditions that change permits, sequencing, and the budget together. Choose work your team can explain before closing. A manageable property leaves room to learn how contractor payments, inspections, and resale decisions work without making every lesson a threat to repayment.

The Fix & Flip program supports up to 95% LTC plus 100% of rehab, with an after-repair value cap of 75% and a maximum loan of $5M, subject to underwriting.

Rates are starting at 9.00%, subject to underwriting, with a 12-month term and origination starting at 1.50%. Program ceilings are not a promise of first-project proceeds. The supported cost calculation, appraisal, borrower contribution, and project risk all matter.

You still need cash for closing costs, reserves, carrying expenses, and work before reimbursement draws. A high expected resale value cannot substitute for usable cash during construction. We would rather see a lower request with an executable plan than maximum leverage attached to a fragile budget.

Compare the cost and value constraints in our LTC and ARV guide before setting your loan request.

First deals fail underwriting when the budget, cash position, or exit cannot survive ordinary problems.

A contractor estimate that leaves out known repairs creates a funding gap, not a bargain. An appraisal assumption built around an unrelated premium sale weakens the repayment story. Using all available cash at closing leaves nothing for delayed draws or carrying costs. We also question projects where nobody has walked the property or accepted responsibility for site decisions. These are fixable planning failures. Address them before asking financing to rescue a contract that never worked on its own.

Submit your first flip with the property address, purchase terms, rehab budget, expected finished value, and an honest description of your experience.

Have the scope, contractor bid, property photos, entity documents, and evidence of available funds ready for follow-up. Tell us whether you intend to sell or hold and identify any unresolved inspection or permit issue. We review the scenario before issuing indicative terms, then confirm the conditions through underwriting. Do not describe unfinished projects as completed experience; a clear first-project file is more useful than an inflated history.

Start with the existing deal form so we can review the property and plan together.