Fix and Flip Financing:
Speed and Leverage for Success
Discover flexible Fix and Flip financing to buy and renovate investment properties. Our easy, fast lending process speaks for itself.
2500+
Happy Clients
$1B +
Funded Projects
95%
Applications Approved
Transform distressed properties into profitable assets with Express Capital Financing's Fix and Flip loan program. Whether you're looking to buy a fixer-upper, renovate a duplex, or transform a warehouse into a multi-family property, we have the resources to help you get started. With a streamlined application process and efficient underwriting, our Fix and Flip loan program ensures swift access to capital—exactly when you need it.
Our Unique Fix and Flip
Loan Offerings
- Nationwide lending coverage
- Asset-based loans up to 90% acquisition, 100% renovation cost
- Quick closing, in as little as 5 days
- Non-credit-sensitive, approval in 24 hours
- In-house underwriting, funding, and draws
- Convenient self-inspections using our mobile app
- No prepayment penalties, pay only for what you use
- Efficient back-office support at no extra cost
Our Fix and Flip Loan Terms
We offer transparent and customized Fix and Flip loan terms that can be tailored to fit your needs, so whether you're looking for quick turnaround or longer-term investment opportunities, we've got you covered.
Rate and Terms Overview
Seamless Fix and Flip Financing Starts Here
For investors seeking ease, simplicity, and transparency in their Fix and Flip loans, our application process is your gateway to streamlined funding. From the initial consultation to the final funding stage, we've tailored every step to be straightforward – so you can experience uncomplicated success on your house-flipping journey.
Discuss Your Deal and Goals
Connect with your dedicated loan officer to discuss your unique project and financial objectives.
Get A Customized Quote
We’ll prepare a personalized loan quote, crafted specifically for your project, so it aligns perfectly with your goals.
Document Collection and Review
Our streamlined process involves collecting and reviewing the necessary documentation, making the paperwork hassle-free for you.
You’ve Secured Funding
Congratulations! It’s time to get excited about your project becoming a reality with Express Capital Financing.
Why Choose Express Capital Financing For Your Next
Fix & Flip Project?
Express Capital Financing offers unmatched flexibility with our Fix and Flip loan terms and approval criteria. We're willing to collaborate with borrowers who have less-than-perfect credit scores, unique property types, or unconventional financial situations. Each Fix and Flip loan is assessed individually, resulting in personalized loan structures to meet your specific needs.
Quick Funding
Get fast, reliable financing to seize opportunities with unmatched speed.
Maximum Leverage
Maximize your real estate portfolio effortlessly with higher leverage.
Unmatched Flexibility
Enjoy tailored loans that flexibly adapt to your needs and goals.
Try Our Fix & Flip Calculator
Empower your decision-making and maximize your returns with our Fix and Flip Calculator, your key to informed real estate investing. This intuitive tool helps you gauge financing needs and potential returns with accuracy.
Fix and Flip Financing FAQs
Costs & Fees
Yes, typically, there are underwriting and legal fees, but this depends on the project and its needs. There can be others that can be verified with your loan officer.
No. Not with ECF. We have no payback penalties. With other lenders, there can be penalties for early repayment.
Interest rates are generally higher than traditional mortgages, reflecting the increased risk. Rates can range from 10% to 12%. To find out the current range in your market, feel free to contact us.
Eligibility and Qualification
Yes, some hard money lenders specialize in borrowers with bad credit, but interest rates will be significantly higher. While obtaining a fix and flip loan with bad credit can be challenging, it is not impossible. Many private lenders and hard money lenders may be more lenient on credit scores, focusing instead on the property's potential value and your experience as an investor.
Down payments typically range from 10% to 25% of the purchase price, but can vary based on the lender and project. There are creative ways to fund your project as shown in our article "Is fix and flipping with no money down possible?"
No. While not always mandatory, prior experience significantly improves your chances of approval. Lenders prefer borrowers with a track record of successful flips however, Express Capital Financing is happy to work with beginners through to experienced flippers. If this is your first time then please consider reading our guide "House Flipping: 7 crucial things to consider before your first project."
Requirements vary, but often, fix-and-flip lenders are more flexible than traditional mortgage lenders. Our minimum credit score is currently 620. Anything lower can be discussed on a case-by-case basis. If you're concerned about your credit score contact us to see how we could help.
ECF do not require Proof of Income or bank statements. We require: Purchase contract, Scope of work, Personal Financial Statement, Credit check, Track Record (if available) and the entity documents.
For other lenders, you should expect to provide proof of income, bank statements, a detailed scope of work, and a budget for renovations.
Lenders evaluate your financial stability and project viability.
ECF needs to see that your name or LLC has held title to the property and either successfully rented it or sold it. We can not count properties that you did not own but were involved in. ECF also looks at licenses, such as a GC license or Real Estate license, which can usually help an application.
Lender and Market Information
Yes, there are government programs that can assist investors in funding fix and flip projects. These programs vary by region and may offer competitive interest rates or subsidies for specific types of properties, such as those in revitalization areas or designated as affordable housing. Programs like the Federal Housing Administration (FHA) 203(k) loan allow buyers to finance both the purchase and renovation costs of a home with a single mortgage. These loans generally have specific criteria that must be met and may require the borrower to occupy the property as a primary residence.
Compare interest rates, the quality of service, fees, loan terms, and lender experience. Choose a lender with a proven track record in fix-and-flip financing.
Service is worth investigating, especially with lenders with the ability to close and fund draws quickly. For example, a delayed draw means a delayed project, which means more time paying interest and fewer profits.
If you have any questions to help you validate in ECF is the right lender for you then please contact us today.
We are proud to say that we lend nationwide across the United States with the exception of ND, SD, NV, AZ.
Loan Basics
Yes. If you decide to keep the property as a rental, you can refinance into a long-term mortgage after renovations. take a look as well at our DSCR Loans to see how you can maximise your return.
Yes, ECF funds 100% of the renovation cost.
A traditional mortgage is typically used for purchasing a primary residence and is designed for long-term ownership. A fix and flip loan is short-term and aimed at investors looking to quickly buy, renovate, and sell properties for profit. Traditional mortgages usually have terms that range from 15 to 30 years. Fix and flip loans usually have terms of 6 to 12 months.
There are also traditional loans that are used for investment properties. The biggest differences would be:
1. They are short term (12 months) with no PPP
2. They are interest only, making the monthly payments more managable
3. ECF fund the renovation cost
4. ECF offer higher leverage than other traditional loans meaning less cash to close is required
5. These loans do not report to your credit, hurting your DTI and DTU
Lenders like us provide funds to purchase and renovate a property. The loan is typically based on the ARV, not just the current value. Borrowers renovate, then sell the property, Repaying the loan with the proceeds of the sale of the property. Take a look at our fix and flip calculator to see how much you could potentially borrow.
A fix and flip loan is a short-term loan used by real estate investors to purchase and renovate a property for quick resale. It's designed for projects with a defined timeframe, focusing on the property's after-repair value (ARV).
Hard money loans are asset-based loans from private lenders, often used for fix-and-flips. They have higher rates, higher leverage and higher fees but are faster to close and more flexible.
Typical durations range from 6 to 12 months. This short term duration aligns with the rapid turnover expected in fix-and-flip projects. Whilst this is typical, there are exceptions to projects that take longer than 12 months to complete. Our loans are all 12 months with no PPP, so if you should choose to exit earlier, there is no harm no foul. You only pay for what you use. We also understand that there could be a situation where you require more time, so ECF allow you to apply for an extension at a cost. We outline all of this in more detail in our guide "How long does it take to flip a house?".
Loan Process and Approval
ECF tend to approve our loans in as little as 1 week however, approval times vary. Fix and flip loans can often close faster than traditional loans.
ECF do not look at a borrower's income. We only look at your liquidity, showing your ability to afford the down payment.
We look at the dea'ls profitability (the ARV), borrowers experience, credit score, and scope of work.
Other lenders might consider other aspects, too, such as financial stability.
Property and Project Specifics
Calculate the ARV, estimate renovation costs, and factor in holding costs and potential profits. Thorough market research is essential. For all the details, check out our guide "How to evaluate a fix a flip property" and our deal calculators.
Underestimating renovation costs, overpaying for the property, and failing to account for holding costs are common pitfalls. For a full breakdown of common mistakes, take a look at our article "Common mistakes fix and flippers make when real estate investing"
You may need to extend the loan (if allowed) or face potential foreclosure. It's crucial to have a realistic timeline and agree on what that situation would look like with your lender.
ECF can offer an extension for a fee should your situation need it.
Single-family homes, townhouses, and condos are common. ECF also finance multi-family properties. Find out more about multi-family and mixed use bridge loans.
For Brokers
ECF will gladly compensate you for a referral that results in a closed loan under local rules and regulations. It is up to you to determine whether you are legally able to accept a referral fee.
You can view our Broker Partner Program to get further details or see how we can work together.
Once you complete these forms via DocuSign, you can start referring deals immediately.
Take a look at our Broker Partner Program to see how you can partner with ECF.
Broker fees are disclosed upfront on the commitment letter, in a transaction specific agreement with RCN Capital and on the HUD. A check is sent directly to the broker at closing.