What You Need to Qualify

Fix and Flip Loan Requirements

Hard money / bridge financing built around rehab projects. Here is every requirement we underwrite to — credit, LTC, ARV, rehab budget, and draws.

Get a fix-and-flip quote Call (410) 855-4600
Fix and flip rehab in progress
Fix & Flip
660+Minimum FICO score
90% LTCPurchase, plus 100% rehab
70% ARVMaximum total loan vs. ARV
Lending Parameters

How we size a fix-and-flip loan

Three numbers decide your loan — the ARV cap, your LTC tier, and rehab funding. Here is how each one works.

Max Loan vs. ARV
70%
Combined purchase + rehab is capped at 70% of after-repair value.
Purchase LTC
90%
Up to 90% loan-to-cost for experienced flippers; 80% entry-level.
Rehab Funding
100%
Full approved rehab budget, released in draws as work completes.
Min FICO
660
700+ unlocks better pricing. First-time flippers welcome.
Worked example
$400K ARV × 70% = $280K max total loan

ARV & the appraisal

ARV is the projected market value once the rehab is done. We size the loan off ARV — not the as-is price — so a strong set of post-rehab comps works in your favor.

Full ARV explainer →
✓
Independent appraisalOrdered on every deal — no self-reported values.
✓
Two values, one reportAs-is value plus a subject-to-completion ARV.
✓
Comp-drivenBased on sales of comparable finished homes nearby.
Loan Tiers

Entry-level vs. experienced

Your track record sets your leverage and pricing. Both tiers fund 100% of the approved rehab.

Entry-level
Experienced · 3+ in 36mo
Purchase LTC
80%
90%
Rehab funding
100%
100%
Combined cap
70% ARV
70% ARV
Pricing
Standard
Best available

Rehab budget

  • Itemized by trade with realistic costs.
  • 10–15% contingency line — we expect to see one.
  • Revisable mid-project with approval and an updated draw schedule.
How to build a realistic rehab budget →

Draw process

3–6draws per project
48–72hinspection → wire

Rehab funds sit in escrow and release as work is completed — each draw triggered by your request and a local inspector's sign-off.

Full draw process walkthrough →
Deal Math

The MAO formula

Maximum Allowable Offer — the most you can pay and still pencil. We underwrite to the same margin.

MAO=(ARV×70%)−Rehab−Profit

If there is not enough room between ARV × 70% and your total costs (purchase + rehab + holding), the deal will not clear underwriting — on your side or ours.

Full MAO walkthrough →
Credit & Eligibility

Who qualifies

Minimum
660
FICO to qualify
Better pricing
700+
unlocks tighter rates
  • First-time flippers welcome at entry-level deal sizes.
  • 3+ flips in 36 months earns tighter pricing and higher LTC.
  • No bankruptcy in 4 years; no foreclosure in 3 years.
The Differentiator

What we DON'T require

What most lenders ask for that we don't — these are the things that make our process faster than a conventional shop.

No prior flip experience required for entry-level deal sizes.
No personal income verification. No W-2s, no pay stubs.
No personal tax returns.
No DTI calculation.
No prepayment penalty. Sell ahead of schedule and pay off without a fee.
Checklist

Documents you'll need

A typical complete file looks like this.

Government-issued photo ID for each borrower / guarantor
LLC operating agreement and EIN (if closing in an entity)
Purchase contract and property address
Itemized rehab budget with contingency
Comparable sales for ARV justification
Photos of the property (interior + exterior)
List of completed flips in the last 36 months (addresses and exits) — optional but helpful

Common Questions

Do you fund first-time fix-and-flippers?
Yes. We fund investors on their first flip, with appropriate pricing and entry-level LTC tiers. Experienced flippers with a track record qualify for tighter pricing.
How is ARV determined?
We order an independent appraisal that includes both an as-is value and a subject-to-completion ARV based on your rehab plans. The appraiser pulls comparable sales of similar finished properties in the area.
What's the maximum total loan?
Combined purchase + rehab is capped at 70% of ARV. For experienced flippers, we go up to 90% LTC on purchase + 100% of rehab, as long as the combined loan stays under 70% ARV.
What if my rehab goes over budget?
We can revise the rehab budget mid-project with approval and an updated draw schedule. Significant scope changes require new underwriting; minor overruns are usually absorbed in the contingency.
How long can the loan be open?
6–18 month terms. Extensions available for ongoing projects. Most fix-and-flip deals close in 6–9 months from funding to exit.
Is there a prepayment penalty?
No. Sell ahead of schedule and pay off without a fee.
Can I refinance into a long-term rental loan instead of selling?
Yes — that's the BRRRR strategy. Once the property is stabilized and rented, we refinance the bridge into a 30-year DSCR rental loan. We fund both sides of the pipeline.
How It Works

From first call to funded.

1

Submit the deal

Get a quote online or call us. We'll size the deal in 24 hours.

2

Underwriting

Our in-house team underwrites the file — not an algorithm or a remote committee.

3

Close & fund

5–10 business days for bridge, 3–4 weeks for 30-year rental.

Investor Education

From the Blog

Investor playbooks and explainers from our team. See the full library on our blog.

View All Posts

55+ investor guides covering DSCR, bridge loans, fix-and-flip, BRRRR, market updates, and more.

Browse the blog →

Ready to talk about your deal?

Get a quote in 24 hours or call us right now.

Get a fix-and-flip quote Call (410) 855-4600
© Pimlico Capital . All rights reserved.