Choose a fix and flip loan option that’s right for you.
- Interest Rate: 10.9%-11.4%
- No appraisal
- No prepayment penalty
- Close as fast as 2 days
- Interest Rate: 9.25%-10.9%
- No appraisal
- No prepayment penalty
- Close as fast as 10 days
Fix and Flip Loan Terms
Here are the loan terms for fix and flip loans in Ohio. Qualify based on the after-repair value, not personal income.
| Loan to purchase | Up to 90% LTC |
| Rehab financing | Up to 100% |
| After-repair value | Up to 75% ARV |
| Loan amount | Minimum $75,000 |
| Interest rate | Start at 9.25% |
| Credit score | Minimum 660 |
| Loan terms | 6, 12, 18 and 24 months |
Speak with a Fix & Flip Loan Advisor
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- Compare loan options
- Get proof of funds today
- See how much you qualify for
Ohio Fix and Flip Loan Requirements
These are the minimum fix and flip loan requirements for Ohio investors.
Minimum Credit Score
The minimum credit score to get approved for an Ohio fix and flip loan is a 660. However, higher credit scores typically come with lower origination fees.
Minimum Loan Amount
The minimum loan amount is $75,000.
Business Entity Required
Since these are business loans, a legally registered business is required to get approved for fix and flip funding. You can file for a new LLC in the state of Ohio and get approved in 2-5 business days.
Flipping Experience
No previous experience is required to get a loan for flipping houses in Ohio. However, it will help reduce your financing costs.
Speak with a Ohio Loan Specialist
Is Ohio good for house flipping?
Ohio is a great place for house flipping, particularly in its major urban areas such as Cleveland (CLE), Columbus (Cbus), and Cincinnati (the ‘Nati). These cities are known for their affordable properties that are perfect for rehab and flipping.
“The Buckeye State” offers an investor-friendly climate with relatively low entry-price housing prices. Attracting many new investors to jump into Ohio’s real estate market. Ohio has very lenient eviction laws and does not have legislation for rent control.
Best cities to fix and flip in Ohio
While interest rates fluctuate and real estate values vary by area, you can still get make an educated decision where you want to flip. To get you started, these are the best cities in Ohio for house flipping.
Columbus
Average home value: $233,634
Sold over list price: 38.8%
Median days to pending: 11
Cleveland
Average home value: $98,605
Sold over list price: 31.4%
Median days to pending: 17
Cincinnati
Average home value: $223,771
Sold over list price: 34.1%
Median days to pending: 12
Toledo
Average home value: $111,560
Sold over list price: 37.6%
Median days to pending: 12
Dayton
Average home value: $135,708
Sold over list price: 27.8%
Median days to pending: 15
Akron
Average home value: $119,995
Sold over list price: 35.1%
Median days to pending: 16
Youngstown
Average home value: $51,267
Sold over list price: 31.3%
Median days to pending: 15
Data Updated: February 13, 2024