Fix & Flip Loans from 9.00% | Up to 90% LTC | Ledger T&C
Home
Loan Products
New Construction First-Time Builders DSCR Rental Bridge Fix & Flip Build to Rent
Who We Are
What We Do Meet the Team Where We Lend
Broker Partners
Loan Calculators
Construction DSCR Rental
Client Portal
Submit Draws Loan Diligence
Apply Now

Fix & Flip Loans

Fast funding to acquire, renovate, and sell. Designed for experienced operators who need reliable capital to close quickly.

Overview

Strategic Value-Add Investing

Fix and Flip loans provide short-term financing to purchase and renovate residential properties for resale or aggregation designed around value creation. We fund both the acquisition and the rehab budget, so you can focus on executing your renovation plan and getting to market faster.

As a combination loan, we provide a day-one advance of capital based on the current value of the asset followed by requested draws against a submitted rehab budget. Our draw process is fast, transparent, and predictable through our Asset Management portal.

Loan Range

$125,000 to $5,000,000 per loan

Term

15-18 months

Complete Financing

Acquisition capital coupled with a rehab escrow

Closing Speed

As fast as two weeks

Why Ledger

What Sets Us Apart

  • Fund both acquisition and rehab in a single loan
  • Fast, reliable draw process with quick inspections
  • No prepayment penalties for quick turns
  • Competitive leverage on purchase price and ARV
  • Repeat borrower programs with improved terms

Ideal Borrower

You're a flipper with experience completing renovations. You have a property identified, a scope of work ready, and an itemized budget. You know your market and can estimate ARV with confidence.

We work with operators who are doing this as a business. Whether your exit is a quick resale or a BRRRR hold strategy, we structure terms that work for your plan. Understand how LTC and LTARV affect your leverage.

Stepping into ground-up construction for the first time? Our first-time builder program lets your GC's experience stand in for yours.

Fix & Flip Loan Summary: Ledger Trade & Capital funds fix-and-flip loans from $125K to $5M covering both acquisition and rehab. Up to 90% of purchase price, 95% loan-to-cost, and 75% LTARV. Rates from 9.00%. Terms of 15 to 18 months with interest-only payments. No prior experience required. Close in as fast as two weeks. Available in 45 states plus Washington, D.C.
Pricing

How Fix & Flip Rates Work

Your rate depends on four factors. Experienced flippers with strong credit and lower leverage get the best pricing.

Base Rate
9.00%

Experience Level

Three tiers. Institutional: 10+ completed projects or $10M in the last 36 months. Experienced: 3 to 9 projects. First-Time: 0 to 2. Institutional and Experienced borrowers get the top rate tier. First-time flippers start at lower leverage and a higher rate.

Credit Score

Minimum 680 FICO. Scores of 700 and above qualify for the best rate tier. Higher credit signals lower risk to the lender.

Leverage

Lower loan-to-cost and loan-to-ARV ratios earn better rates. More skin in the game means better pricing.

Rehab Scope

Light cosmetic rehabs price better than heavy gut renovations. Smaller rehab budgets relative to purchase price reduce risk.

Institutional
720+ FICO · 10+ deals · 90% LTC*
9.875%
Experienced
700+ FICO · 3-9 deals · 90% LTC
9.875%
First-Time Flip
700 FICO · 0-2 deals · 80% LTC
10.375%

*Up to 95% LTC case by case. Rates shown are examples for a light rehab purchase.

Eligibility

What You Need to Qualify

Fix and flip loans, house flipping loans, and rehab financing share the same basic requirements.

Eligible

  • 680+ credit score
  • Single-family residences
  • Townhomes
  • 2-4 unit residential
  • Purchase price up to $5M
  • Clear exit strategy (sell or refi)
  • First-time flippers welcome

Not Eligible

  • Owner-occupied properties
  • Commercial properties
  • Land-only (no structure)
  • Mobile or manufactured homes
  • Credit score below 680
  • No exit strategy or plan
Program Details

Fix & Flip Loan Parameters

Max Purchase
Up to 90%
Max LTC
Up to 95%
Max LTARV
Up to 75%
Fix and flip loans offer up to 90% of the purchase price, up to 95% of loan-to-cost (LTC) including rehab, and up to 75% of the loan-to-after-repair-value (LTARV). The actual leverage depends on borrower experience, credit, and deal quality.
The minimum credit score for fix and flip programs is 680. We underwrite the deal holistically, so a strong project with a clear exit strategy can offset other factors.
Experience is not required, but it sets your tier. Borrowers with 3 or more completed projects qualify for up to 90% LTC. First-time flippers can qualify for light rehab projects at up to 80% LTC and a higher rate tier. Heavy rehab projects require at least 3 completed projects.
Yes, limited recourse options are available on fix and flip loans for qualifying borrowers. Standard carve-outs apply. Contact our team to discuss limited recourse structuring for your specific project.
Rehab funds are held in escrow and released in draws as work is completed. You submit a draw request through our asset management portal, we schedule a quick inspection, and funds are released, typically within a few business days. The process is designed to be fast and predictable so your project stays on schedule. For heavy rehab or ground-up projects, see our full guide on how construction loan draws and draw schedules work.
We can close fix and flip loans in as fast as two weeks for well-prepared borrowers with clean titles and appraisals in hand. Typical closings take 2-3 weeks depending on title, appraisal, and insurance timelines.
Fix and flip loans are available for single-family residences, townhomes, and 2-4 unit residential properties. The property must be non-owner-occupied and intended for renovation and resale or stabilization as a rental.
Yes, a fix and flip loan is the first step in the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat). Fund the acquisition and renovation, stabilize the property as a rental, then refinance into a long-term DSCR rental loan. We offer both products, making the transition seamless.
Rates depend on borrower experience, credit score, leverage, and project scope. Experienced flippers with strong credit and lower leverage typically receive the best pricing. Try our construction loan calculator to estimate your rate.
By State

Fix & Flip Lending Coverage

Fix and flip financing available in 40+ states. See state-specific markets and flip activity.

Florida Texas North Carolina Georgia Tennessee Ohio Pennsylvania Arizona Alabama South Carolina New Jersey New York View All 40+ States →

Have a Property in Mind?

Apply Now → Estimate Your Rate →

See current fix & flip loan rates and terms