How Does a Fix and Flip Loan Work?

A fix and flip loan funds two things at once: buying the property and paying for the renovation.

Instead of leaning on your tax returns, the lender underwrites the project. They look at the purchase price, your rehab budget, and the after-repair value: what the property should be worth once the work is done. Purchase money closes up front. Rehab money sits in a draw account and is released in stages as an inspector confirms the work.

These loans are short by design. The plan is to finish, sell or refinance, and pay the loan off, so your exit matters as much as your entry.

Before you apply, gather the purchase contract, a line-item rehab budget, comparable sales that support your resale number, and a short list of projects you have completed.

SixtyFour West places your deal with lenders whose rules it fits.

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