The best fix-and-flip loans typically offer competitive rates and quick access to funds, have short repayment terms, and have flexible qualification requirements. Since the best loan will depend on your specific circumstances, I’ve selected fix and flip lenders with a wide range of qualification requirements and loan terms.
Here are the seven best loans for flipping houses:
- Kiavi: Best overall for ease of application process and favorable terms
- RCN Capital: Best for experienced investors seeking lower rates
- Lima One Capital: Best for large funding amounts
- Flip Funding: Best for first-time flippers
- CoreVest: Best for borrowers with bad credit
- LendingOne: Best for fast approval and funding speeds
- AMZA Capital: Best credit line for flipping multiple projects
Best Fix and Flip Loans at a Glance
Lender | Max. Loan Amount | Max. Loan Repayment Term | Min. Credit Score | Est. Time from Application to Funding | |
|---|---|---|---|---|---|
 | $3 million | 7.75% | 24 months | 680 | As fast as 7 days |
 | $2.5 million | 10% | 18 months | 660 | 10 to 30 days |
 | $5 million | 8.45% | 24 months | 680 recommended | 10 to 30 days |
 | $3 million | 10% | 24 months | 620 | 10 to 14 days |
 | $2 million+ | 8% | None | 14 to 45 days | |
 | $3 million | 8% | 24 months | 680 recommended | As fast as one week |
 | $50 million | 9% | 24 months | 650 | 2 to 4 weeks |
Kiavi: Best Overall for Ease of Application Process & Favorable Terms
 | |
Rates & Terms | |
Starting Interest Rate | 7.75% |
Estimated APR | 7.75% |
Loan Amount | $100,000 to $3 million |
Repayment Term | 12, 18, or 24 months |
Repayment Schedule | Monthly |
Loan Fees & Closing Costs | 1.5% to 2% of the loan amount |
Estimated Total Time From Application to Funding | As fast as 7 business days |
Qualifications | |
Credit Score | 680 |
Maximum LTV, LTC & ARV | 95% LTC, 80% ARV |
Flipping Experience Required? | No |
Why I Like Kiavi
Kiavi offers fix-and-flip and bridge loans that can be used to finance the initial purchase of a home and costs for subsequent repairs and renovations. It makes our list as the best overall provider because of the competitiveness of its rates, terms, qualification requirements, and streamlined application process.
It charges no application fees, and it’s also possible to qualify with no income verification and no property appraisal. By eliminating many of these requirements common to other lenders, Kiavi can issue funding within just a few business days. It is also one of few lenders that offers in-house servicing, another factor that allows it to offer such a quick, streamlined process from application to funding.
The lender’s fix-and-flip loans can be used for different purposes. This includes new purchases, refinances of homes purchased in the past six months, and the financing of more seasoned homes. Eligible properties include single-family homes, manufactured properties, two- to four-unit homes, condominiums, and properties in planned unit developments (PUDs).
To learn more or to submit an application, you can visit the Kiavi website. There, you can get pre-qualified with just a soft credit pull and no negative impact on your credit score.
RCN Capital: Best for Experienced Investors Seeking Lower Rates
| |
Rates & Terms | |
Starting Interest Rate | 9.99% |
Estimated APR | 10% and up |
Loan Amount | $50,000 to $2.5 million |
Repayment Term | 12 to 18 months |
Repayment Schedule | Monthly |
Loan Fees & Closing Costs | 1% to 4% of the loan amount |
Estimated Total Time From Application to Funding | 10 to 30 days |
Qualifications | |
Credit Score | 660 |
Maximum LTV, LTC & ARV | 90% LTV, 100% LTC, 75% ARV |
Flipping Experience Required? | No |
Why I Like RCN Capital
With this lender, you can qualify for more competitive rates and terms based on the amount of experience you have with flipping properties. As such, loan terms can range as follows:
Experience Level | Completed Flips in the Prior 3 Years | LTV Requirements | Starting Interest Rate |
|---|---|---|---|
New | Up to 2 | Up to 80% of purchase price + up to 100% of renovation costs; not to exceed 70% of the ARV/div> | 10.99% |
Intermediate | 3 to 5 | Up to 85% of the purchase price + up to 100% of renovation costs; not to exceed 75% of the ARV | 10.49% |
Experienced | Over 10 | Up to 90% of the purchase price + up to 100% of renovation costs; not to exceed 75% of the ARV | 9.99% |
Unlike some lenders, RCN Capital only charges interest on your outstanding balance—it does not charge interest on the rehab holdback portion of your project. As a result, this can help reduce your overall expenses on a fix-and-flip property.
Other qualification requirements include a minimum as-is property value that’s based on the type of real estate being financed. The minimum is $100,000 for single or two- to four-family homes and $350,000 for multi-family or mixed-use properties.
To apply, you can visit the RCN Capital website. There are no upfront fees during the loan review or approval process. However, borrowers will be responsible for any third-party inspections that are required to issue a loan approval. Some examples include appraisal fees and environmental studies.
Lima One Capital: Best for Large Funding Amounts
 | |
Rates & Terms | |
Starting Interest Rate | 8.45% |
Estimated APR | 8.45% and up |
Loan Amount | $75,000 to $5 million |
Repayment Term | 13, 19, and 24 months |
Repayment Schedule | Monthly |
Loan Fees & Closing Costs | Varies |
Estimated Total Time From Application to Funding | 10 to 30 days |
Qualifications | |
Credit Score | Not stated, but 680 is recommended |
Maximum LTV, LTC & ARV | 92.5% LTC, 75% LTV |
Flipping Experience Required? | No |
Why I Like Lima One Capital
If you’re looking for a large loan amount, Lima One Capital is a good option; it also offers the highest funding amounts for a traditional fix-and-flip loan in this guide. That said, you’ll typically need to have excellent credit, a strong track record of successfully flipping properties, and a large down payment. While rates are competitive, the rate you get may also vary depending on the amount of financing you’re looking for and other loan terms, such as repayment length.
Like RCN Capital, Lima One Capital offers interest-only payment options to help lower your monthly expenses. Non-recourse options are also available, and the company also has an in-house construction management team that may be able to provide additional assistance.
It also offers bridge loans and fix-to-rent loans. To learn more or to apply, head over to the Lima One Capital website where you can complete a short one-minute questionnaire. Once done, you’ll then be contacted by a sales consultant to discuss your options.
Flip Funding: Best for First-time Flippers
| |
Rates & Terms | |
Starting Interest Rate | 9.99% |
Estimated APR | 10% and up |
Loan Amount | $150,000 to $3 million |
Repayment Term | 12 to 24 months |
Repayment Schedule | Monthly |
Loan Fees & Closing Costs | 2% to 5% of the loan amount |
Estimated Total Time From Application to Funding | 10 to 14 days |
Qualifications | |
Credit Score | 620 |
Maximum LTV, LTC & ARV | 90% LTV, 70% ARV |
Flipping Experience Required? | No |
Why I Like Flip Funding
Flip Funding offers fix and flip loans that can be used to purchase, rehab, or refinance properties. Out of the lenders in our guide, it has a combination of features, rates, and eligibility criteria that can make it a good fit for new investors flipping their first property. While other providers don’t require flipping experience, Flip Funding has one of the lowest credit score requirements and is accessible to borrowers with limited resources.
With that being said, it does require you to have no bankruptcies or foreclosures within the past two years. You’ll typically need to have a down payment to meet its LTV and ARV limits, although well-qualified borrowers can get 100% financing. Financing is available nationwide, except in Vermont, South Dakota, North Dakota, Utah, Minnesota, and Oregon.
When closing a loan under the name of a business, Flip Funding allows for LLCs, trusts, and corporations. An owner of the business, however, must still agree to personally guarantee the loan.
Visit the Flip Funding website to learn more or to apply. A short online application is available, after which you’ll typically receive a follow-up the same day to discuss potential rates and terms.
CoreVest: Best for Borrowers With Bad Credit
| |
Rates & Terms | |
Starting Interest Rate | Not stated |
Estimated APR | 8% and up |
Loan Amount | $75,000 to $2 million+ |
Repayment Term | 6 to 24 months, with available extensions |
Repayment Schedule | Monthly |
Loan Fees & Closing Costs | 2% to 5% of the loan amount |
Estimated Total Time From Application to Funding | 14 to 45 days |
Qualifications | |
Credit Score | None |
Maximum LTV, LTC & ARV | 90% LTC |
Flipping Experience Required? | Yes |
Why I Like CoreVest
Specific rates and terms will vary depending on your qualifications and the program you apply for, but CoreVest is generally a good option if you need a large amount of funding but have less than ideal credit since there’s no minimum credit score required. For these reasons, it makes our roundup as the best pick for borrowers with bad credit.
It offers several types of bridge loans that can be used for fix-and-flip investors, with offerings similar to that of AMZA Capital. These include credit lines for investors doing a fix-and-flip, buy-and-hold, portfolio, or single-asset loan.
Additional financing options include the flexibility of opting for a fixed or floating interest rate. Non-recourse lending options are also available if you want to limit your potential risk exposure in the event you default. However, be aware that this may come with higher interest rates and require excellent credit.
CoreVest offers funding nationwide. You can visit its website to learn more about its products, and to get started, you can submit an online application, a process that you can complete in under 10 minutes.
LendingOne: Best for Fast Approval & Funding Speeds
| |
Rates & Terms | |
Starting Interest Rate | Not stated |
Estimated APR | 8% and up |
Loan Amount | $100,000 to $3 million |
Repayment Term | Up to 24 months |
Repayment Schedule | Monthly |
Loan Fees & Closing Costs | Not stated |
Estimated Total Time From Application to Funding | As fast as one week |
Qualifications | |
Credit Score | Not stated, but 680 is recommended |
Maximum Loan-to-Value (LTV), Loan-to-Cost (LTC), & After-Repair Value (ARV) | 92.5% LTC |
Flipping Experience Required? | Yes; minimum 1 prior investment property |
Why I Like LendingOne
LendingOne offers one of the fastest funding speeds of the lenders in this guide—you can get funds in as little as one week. While the same is true of Kiavi, LendingOne has flexibility with its loan terms and qualifications. However, it typically requires good credit and prefers working with borrowers who have had experience with at least one prior property flip.
If you decide to work with LendingOne, a benefit you can take advantage of is the ease of transitioning from its short-term fix-and-flip loans to a long-term rental loan if you decide to hold onto the property. This option is listed under its financing option for fix-to-rent loans and can save you time and money from having to apply elsewhere for permanent financing.
With LendingOne, a fix-and-flip loan can carry low monthly payments as you’ll have interest-only payment options. There are also no prepayment penalties, so you can save on interest charges if you complete your property’s repairs ahead of schedule.
The lender accepts online applications and provides you with the ability to get rate quotes in two minutes or less. You can also schedule a call if you have any questions about its loan programs. Visit the LendingOne website to learn more.
AMZA Capital: Best Credit Line for Flipping Multiple Projects
| |
Rates & Terms | |
Starting Interest Rate | Not stated |
Estimated APR | 8% to 12% |
Loan Amount | Up to $50 million |
Repayment Term | Up to 24 months |
Repayment Schedule | Monthly |
Loan Fees & Closing Costs | 2% to 5% of the loan amount |
Estimated Total Time From Application to Funding | Typically 2 to 4 weeks |
Qualifications | |
Credit Score | 650 |
Maximum LTV, LTC & ARV | 80% LTC |
Flipping Experience Required? | None, but 5+ prior flips is recommended |
Why I Like AMZA Capital
If you’re an experienced investor or looking to flip multiple properties in a short period, AMZA Capital is an excellent option. This is because it offers a fix-and-flip line of credit up to $50 million, providing flexible access to funds on an as-needed basis.
Unlike many credit lines, you also have the option to borrow money at a fixed interest rate. While other lenders like CoreVest also offer a line of credit, AMZA Capital offers the highest funding amount in our guide and is suitable for borrowers with various fix and flip funding needs.
Funding is available nationwide, and eligible properties include single-family homes, condos, townhomes, and multi-family properties with fewer than 20 units. If you decide not to get a credit line, you can also get a closed-end term loan. These come with a repayment term of 12 months, although 6-month extensions can be made.
While the lender typically works with experienced flippers, it can fund first-time flippers as well. New investors will just need to show that they are working with a qualified mentor and a licensed contractor with the resources available to complete a property flip.
You can visit the AMZA Capital website to learn more about its products and services. There, you can also request a free, no-obligation quote.
How I Chose the Best Fix and Flip Loans
The best fix-and-flip loans were selected using the following criteria:
- Interest rates and estimated APRs
- Length of repayment term
- Loan amounts available
- Ease of application
- Qualification requirements such as credit score, flipping experience, and down payment
- Funding speed
- Customer reviews and ratings
Alternatives to Fix and Flip Loans
If you are unable to qualify for fix and flip financing or find that the terms are not ideal for you, the following alternatives may still allow you to fund your project. Before considering alternatives, however, check out our tips on how to get a small business loan as it may help improve your approval odds.
- Hard money loan: These loans can commonly be used for fix-and-flip projects, but carry a different set of eligibility criteria. They’re often considered as a last resort method of financing because of the high rates and fees. Repayment terms are also short, usually 18 months or less, with many requiring only interest-only payments. Check out our picks for the best hard money lenders.
- Home equity line of credit (HELOC): If you have enough equity in your personal home, you can get a line of credit against it. However, be aware that HELOCs use your home as collateral, which means that you could lose it in foreclosure if you become delinquent on your loan payments. Read our guide on using a HELOC to fund your business to learn more.
- Small business line of credit: If you don’t want to use your personal residence or other real estate as collateral, a small business credit line can be a good alternative. Our guide on the best small business lines of credit can provide you with a variety of lending options, depending on your specific financing needs.
Frequently Asked Questions (FAQs)
Fix-and-flip loans can be hard to get if you’re a new investor. As you gain more experience and build a track record of successfully flipping properties, it should become easier and faster to get approved for subsequent loans. In making loan decisions, lenders often consider your credit, down payment, income, and prior investment experience.
Rates typically range from 8% to 14% and carry repayment terms of 24 months or less. The specific figures you’ll get will depend on the lender you choose, the type of financing you’re looking for, your qualifications, and the details of your project. View our guide on commercial loan rates to learn more about how lenders determine what rate you get.
You can get a fix-and-flip loan in as little as one week, although sometimes it can take up to a month to gather documentation or other closing materials. This will primarily depend on your lender, the complexity of your loan application, and how quickly you respond to requests for additional information.
It varies depending on the lender. It can also be dependent on the amount of financing you seek and the strength of your other qualifications. Generally speaking, most lenders will want to see a credit score of 650 and above. Keep in mind that the stronger your credit score, the better rates and terms you’re likely to get.
Bottom Line
The best loans for flipping houses will offer competitive rates, large loan amounts, and have flexible qualification requirements. The lenders in this roundup may be able to help you if you’re a potential borrower with limited experience or resources. To get the best rates and terms, I recommend getting quotes from at least several providers before making a final decision.
If you’re a new investor, you can check out our guide on investment property financing to learn more about whether a fix-and-flip loan is right for you.
