Fix N Flip Loans

How the Fix N Flip Program Works

• Short-Term Financing: Loans are typically structured with a 6- to 18-month term, giving you adequate time to complete renovations and sell or refinance the property.


• ARV-Based Underwriting: Approvals and maximum loan amounts are largely based on the After-Repair Value (ARV) of the property, which is the estimated market value once all upgrades are finished.


• High Leverage: We can fund a significant portion of the property's purchase price, often up to 95%, allowing you to keep more of your own capital liquid.


• Full Rehab Financing: The program can finance up to 100% of your approved renovation budget, ensuring you have the funds needed to complete the project without draining your cash flow.


• Draw Schedule: Renovation funds are held in reserve and released to you in stages (draws) as specific project milestones are completed and verified via inspection.


• Interest-Only Payments: To help you maintain healthy capital during the construction phase, monthly payments are structured as interest-only.


• Balloon Payment at Exit: The original loan amount becomes due at the end of the loan term, which is typically paid off when you successfully flip the property or refinance it into a long-term rental loan.

Requirements for Fix N Flip Eligibility

• Credit Profile: While our underwriting evaluates the whole deal, a baseline credit score (often around 600-620 minimum) is typically required, with stronger scores opening up more favorable terms.


• Experience Level: We work with investors of all levels; however, first-time flippers may be asked to bring a larger down payment or show they are partnered with licensed, experienced contractors.


• Cash Reserves: Borrowers should have documented liquid cash reserves—usually enough to cover 3 to 6 months of holding costs, insurance, and taxes.


• Business Entity Setup: Borrowers are highly encouraged, and often required, to purchase the property under a business entity such as an LLC or corporation for liability and professional purposes.


• Property Type: The property must be an eligible value-add investment: Single-Family Residence (SFR), 2–4 Unit property, or Value-add properties.

Steps to Qualify for a Fix N Flip Loan

• Step 1: Get the Property Under Contract: Before proceeding far into the application, you should ideally have a distressed property under a purchase agreement.


• Step 2: Submit Your Scenario: Provide us with the property address, purchase price, estimated construction costs, and projected After-Repair Value (ARV) to initiate the pre-qualification process.


• Step 3: Provide Detailed Documentation: Submit your personal ID, business entity documents (Articles of Organization, EIN), bank statements for proof of funds, and a list of your past real estate experience.


• Step 4: Present Your Scope of Work: Provide a comprehensive, itemized Scope of Work (SOW) detailing all planned repairs, material costs, and labor estimates from your general contractor.


• Step 5: Appraisal and Title Check: We will order a professional appraisal to confirm the property's current "as-is" value and future ARV, alongside a title report to ensure there are no legal liens.


• Step 6: Underwriting Review: Our underwriting team performs a final review of your financial fitness, the property valuation, and the project timeline to issue a clear to close.


• Step 7: Closing and Draw Schedule Setup: The loan is funded for the initial purchase, and a draw schedule is established so you can request your renovation funds as construction progresses.

Benefits of a Fix N Flip Loan

A Fix N Flip loan empowers real estate investors to move with agility and scale their businesses efficiently. By focusing on the asset's post-renovation potential, this program bypasses the strict personal income verification hurdles of traditional mortgages, offering much faster closing times—often within just 21 days or less. With robust financing that covers up to 95% of the purchase price and up to 100% of renovation costs, you can preserve your personal capital to take on multiple projects simultaneously. Partner with Bond Street Loans to secure the capital you need to transform distressed properties and maximize your return on investment.