Fix and Flip Loans in St. Petersburg

Explore the types of fix and flip loans for properties in St. Pete.

Lower Interest Rates

Fix and flip loan program that’s ideal for St. Petersburg real estate investors with a 700+ credit score.

  • Minimum credit score: 700
  • No appraisal
  • No prepayment penalty
  • 2-3% origination points
  • Close as fast as 10 days

Fast Closings

Close in as little as 2 days with minimal paperwork, but a slightly higher origination fee.

  • Minimum credit score: 660
  • No appraisal
  • No prepayment penalty
  • 3-4% origination points
  • Close as fast as 2 days

No Credit Check

Fix and flip financing with no credit check, fast closings and slightly higher origination fees.

  • No credit check
  • No appraisal
  • Prepayment penalty varies
  • 4-5% origination points
  • Close as fast as 2 days

Fix and Flip Loan Terms

Here are the loan terms for fix and flip loans in St. Pete. 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 680
Loan terms 6, 12, 18 and 24 months

Speak with a Fix & Flip Loan Advisor

    • Compare loan options
    • Get proof of funds today
    • See how much you qualify for
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St. Petersburg Fix and Flip Loan Requirements

These are the minimum loan requirements for a fix and flip project in St. Petersburg.

Minimum Credit Score

There is no minimum credit score to get approved for a St. Petersburg fix and flip loan. However, a 700+ credit score typically comes with the lowest 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 Florida and get approved in 2-5 business days.

Flipping Experience

No previous experience is required to get a loan for flipping houses in St. Petersburg. However, it will help reduce your financing costs.

Speak with a St. Pete Loan Specialist

Is St. Petersburg a good place to flip homes?

When it comes to house flipping in Florida, Saint Petersburg clearly stands out. St. Pete has a booming downtown, laid-back beach vibe, deep in culture and attracts a diverse crowd.

The local government’s commitment to green spaces and public art adds additional value to properties. St. Pete has a strong local economy, a growing population, low costs of living and high demand, making it ideal for flipping.

Average home value: $367,276
Sold over list price: 12.2%
Median days to pending: 30

What are the best neighborhoods for house flipping in St. Petersburg?

  1. Gulfport
  2. Old Southeast
  3. Seminole
  4. Old Northeast
  5. Crescent Heights
  6. North Kenwood
  7. Palmetto Park
  8. Historic Roser Park
  9. Magnolia Heights

What’s the average time to fix and flip in St. Petersburg?

The average time to fix and flip in St. Petersburg is 164 days, which includes buying, rehabbing and selling the property. Here’s the data we used to calculate that using the ATTOM home flipping activity report.

St. Petersburg: 164 days
Nationwide: 161 days

St. Petersburg days to pending: 30
Nationwide days to pending: 27

Are home prices dropping in St. Petersburg?

No, the average home in St. Petersburg has gained 4.3% in value since the same time last year (as of February 15, 2024).

Why is St. Petersburg real estate so expensive?

St. Petersburg real estate is expensive because it’s experiencing high demand from migration to Florida, lower inventory and many investors fixing up abandoned homes. People love its beaches, art culture, and year-round warm weather.

Additionally, it has its own airport (PIE) with cheap and convenient flights around the country. This convience adds to the comfort of living in St. Pete. Low property taxes, no state income tax and landlord-friendly laws contribute to it’s continued success to keep real estate values up.

Data Updated: February 15, 2024