Close as fast as 3 days with no appraisal and get up to 90% financing.
From Fix and Flip Loans to DSCR Refinancing
Purchase an investment property using a fix and flip loan, renovate and then refinance using DSCR. Designed for real estate investors who need quick closings with intent to rent them out after.
Initially these start off as fix and flip loans with no prepayment penalty. This allows investors to buy properties that wouldn’t otherwise qualify for DSCR. Investors also get financing for rehab costs. After renovations are complete, real estate investors refinance using DSCR.
At this stage, underwriting will focus on the projected rental income an investment property can generate. Then, they’ll compare cash flow to property taxes, insurance and HOA fees.
First Stage: Fix and Flip Loan
| Credit score | Minimum 680 |
| Minimum loan | $100,000+ |
| Purchase financing | Up to 90% LTC |
| Rehab financing | Up to 100% |
| Loan options | 6 and 12 month |
| Prepayment penalty | None |
Second Stage: DSCR
| Refinance | Up to 80% LTV |
| Cash out refinance | Up to 75% LTV |
| Loan options | 30 year fixed |
| Prepayment penalty | 3 or 5 years |
Request a Loan Quote
- No appraisal
- Secure up to 90% financing
- Close as fast as 3 days
You need a financing partner with experience, one who can offer a fast closing and high leverage.
So you want to keep as much of your liquid cash as possible and close quickly.
Get a Fix and Flip Loan Quote
What’s the minimum credit score?
The minimum credit score is 680 or higher.
Is flipping experience required?
No previous experience is required unless you are changing the number of bedrooms, expanding the square footage, or doing a significant renovation.
Do first-time investors qualify?
Yes, first-time real estate investors qualify for up to 85% LTV.
Is an appraisal required?
There is no appraisal with fix and flip loans. However, an appraisal will be required when refinancing to DSCR.
Can I flip the property instead of rent it out?
Yes, you may choose to sell the property rather than rent it out.
Is there a prepayment penalty?
Fix and flip loans do not a prepayment penalty. However, DSCR loans will have a 3 or 7 year pre-payment penalty.