Fix & Flip Loans
Purchase and rehab in one loan for 1-4 unit and small multifamily flips, $1M to $5M. Interest-only, no prepayment penalty, closing in about two weeks.
Flipping is a speed game. The faster you close, renovate, and sell, the higher your return. Our fix and flip lenders understand that every day of delay costs you money.
We work with lenders who can close fix and flip loans in under 2 weeks, with competitive rates and no prepayment penalties. Sell early and pay no extra. Hold longer and refinance into a rental loan.
Whether you're doing your first flip or your fiftieth, we'll match you with a lender whose terms fit your experience level and deal profile.
$1M – $5M
Fix & Flip Loans: terms at a glance
Updated · David Hodara, Founder
| Loan size | $1M to $5M |
|---|---|
| Leverage | Up to 90% LTC |
| Term | 12 months, interest-only |
| Rate | Typically 8-12%, interest-only |
| Fee | 1-2% of the loan, paid at closing. No upfront fees |
| Term sheet | 24-48 hours |
| Closing | About two weeks on a clean file |
| Property | Single-family, 2-4 units, condo, townhome, small multifamily up to 9 units, held for investment |
| Borrowers | US investors and foreign nationals on the same terms, through an LLC. No US credit history required for non-US investors |
| Purpose | Business-purpose only, non-owner-occupied |
Residential flips with a clear resale exit. Close in about two weeks on a clean file.
Key Features
Quick Closing
About two weeks on a clean file, term sheet in 24-48 hours. Don't lose a deal because your financing is slow.
No Prepayment Penalty
Sell the property and pay off the loan anytime without penalty.
Interest-Only
Keep monthly costs low during the renovation and sale period.
Rehab Included
Finance both the purchase and renovation costs in a single loan.
Repeat Borrower Programs
Better rates and streamlined processing for experienced flippers.
Hold or Sell Flexibility
Can't sell? Refinance into a DSCR rental loan without starting over.
Ideal For
Residential fix and flip investors
Small multifamily flips, up to 9 units
Experienced flippers with multiple projects
First-time flippers with a strong deal
Investors who want the option to hold or sell
Quick-turn cosmetic renovation projects
Fix & Flip Loans in active state markets
Market-specific dynamics affect how fix & flip loans get structured and priced. Browse the state × asset class pages for local context, top metros, and FAQs.
FL · Single Family & 1-4 Unit
Florida Single Family & 1-4 Unit →
FL · Fix and Flip
Florida Fix and Flip →
TX · Single Family & 1-4 Unit
Texas Single Family & 1-4 Unit →
TX · Fix and Flip
Texas Fix and Flip →
CA · Single Family & 1-4 Unit
California Single Family & 1-4 Unit →
AZ · Single Family & 1-4 Unit
Arizona Single Family & 1-4 Unit →
GA · Single Family & 1-4 Unit
Georgia Single Family & 1-4 Unit →
TN · Single Family & 1-4 Unit
Tennessee Single Family & 1-4 Unit →
NC · Single Family & 1-4 Unit
North Carolina Single Family & 1-4 Unit →
Plan your fix & flip loans
Run the numbers
Estimate your payments →Related guides
- How fast a fix and flip loan closes in Florida→
- Fix and flip loans over $1M in New Jersey→
- Fix and flip loans in Texas with 2026 margins→
- Foreign national mortgage through a US LLC on investment property→
- Loan-to-cost vs after-repair value→
- How much experience a fix and flip loan needs→
- Financing a Florida fix and flip as a foreign national→
- FIRPTA when a foreign-owned LLC sells→
- What a lender checks in your scope of work→
- Rates on flip and bridge loans for foreign nationals→
Related financing
Frequently Asked Questions
Is a fix and flip loan a business-purpose mortgage to an LLC?
Yes. It is a business-purpose mortgage to your LLC, secured by the investment property you buy, renovate and resell, with the renovation budget released in draws. It is not a consumer mortgage and it is underwritten on the purchase, the budget and the resale exit rather than on personal income. Foreign investors borrow through a US LLC on the same terms.
What is the typical interest rate on a fix and flip loan?
Fix and flip loan rates typically range from 8-12%. The exact rate depends on your experience (number of completed flips), the property's LTV/LTC, location, and the lender program. Repeat borrowers with 5+ completed flips often qualify for rates at the lower end. All fix and flip loans are interest-only, so you only pay interest on the outstanding balance each month.
How much can I borrow for a fix and flip?
Most fix and flip lenders finance up to 85-90% of total project cost (purchase price + renovation budget) and cap the loan at 70-75% of the after-repair value (ARV). For example, on a $1.5M purchase with $300K in rehab and a $2.5M ARV, you could borrow up to $1.62M (90% LTC) or $1.75M (70% ARV), whichever is lower.
What if I decide to keep the property instead of flipping it?
You have full flexibility. If the market shifts or you decide to hold the property as a rental, we can refinance your fix and flip loan into a long-term DSCR rental loan. This avoids the need to sell under pressure. Many investors use this "fix and hold" strategy intentionally, renovate with short-term capital, then refinance into a 30-year fixed loan once the property is stabilized.
Do fix and flip loans have prepayment penalties?
No. The vast majority of fix and flip programs have zero prepayment penalties. You can sell the property and pay off the loan at any time without additional fees. This is critical for flippers, since the faster you sell, the higher your return. You only pay interest for the months you hold the loan.
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Submit a DealDisclosure: Passy Capital LLC, a Florida limited liability company (registered at 7901 4th St N, Ste 300, St. Petersburg, FL 33702), is a commercial real estate financing brokerage, not a direct lender. All loans are placed through third-party lenders and are subject to lender approval, underwriting, credit, property, and other criteria. Rates, terms, and conditions vary by lender, borrower profile, and deal specifics. Information presented does not constitute a commitment to lend. Loans are for business purposes only and made to limited liability companies or other entity borrowers; they are not offered to consumers and are not for personal, family, or household use. Programs are available in select states; licensing requirements vary by jurisdiction.