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
- Interest Rate: 12.5%-13%
- No appraisal
- Prepayment penalty varies
- Close as fast as 2 days
Fix and Flip Loan Terms
Here are the loan terms for fix and flip loans in Tennessee. 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
Tennessee Fix and Flip Loan Requirements
These are the minimum fix and flip loan requirements for Tennessee investors.
Minimum Credit Score
There is no minimum credit score to get approved for a Tennessee fix and flip loan. However, higher credit scores typically come 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 Tennessee and get approved in 2-5 business days.
Flipping Experience
No previous experience is required to get a loan for flipping houses in Tennessee. However, it will help reduce your financing costs.
Speak with a Tennessee Loan Expert
Is Tennessee good for house flipping?
Tennessee is ripe for house flipping! With booming cities like Nashville and Memphis, there’s plenty of potential. From cozy cottages in the Smoky Mountains to techies moving to Nashville, there’s a diverse range of properties to flip.
With Tennessee’s growing economy and influx of newcomers, house flipping can be a great investment. Tennessee is a landlord-friendly state with no rent control, a fast eviction process, and no state-wide legislation on security deposit limits.
Best cities to fix and flip in Tennessee
Tennessee has many great cities, however some are more profitable than others. While you want to flip your property over asking price, finding inventory of distressed properties may be an issue.
To save you time, we found the most profitable cities to flip a home in Tennessee with the least amount of days on the market and a decent amount of inventory.
Knoxville
Average home value: $337,544
Sold over list price: 29.8%
Median days to pending: 14
Nashville
Average home value: $423,694
Sold over list price: 16.6%
Median days to pending: 27
Memphis
Average home value: $142,688
Sold over list price: 22.1%
Median days to pending: 37
Chattanooga
Average home value: $287,374
Sold over list price: 20.6%
Median days to pending: 18
Johnson City
Average home value: $262,824
Sold over list price: 28.7%
Median days to pending: 11
Data Updated: February 9, 2024