--- title: "Fix and Flip Loans | PierPoint Mortgage" description: "Fix and flip loans for investors. Asset-based financing covers purchase and renovation with 6 to 18 month terms. Shops 100+ lenders. Call: (231) 737-9911" author: "PierPoint Mortgage" date: "2026-03-29" tags: ["fix and flip loans"] canonical: "https://pierpointmortgage.com/fix-n-flip-loans/" last_updated: "2026-06-10" --- # Fix and Flip Loans | PierPoint Mortgage **By PierPoint Mortgage** | March 29, 2026 Fix and flip loans for investors. Asset-based financing covers purchase and renovation with 6 to 18 month terms. Shops 100+ lenders. Call: (231) 737-9911 --- > **Quick answer:** Fix and flip loans through [PierPoint Mortgage](https://pierpointmortgage.com/) provide real estate investors with short-term financing to purchase distressed properties, fund renovations, and resell at a profit. These asset-based loans prioritize the property’s after-repair value over the borrower’s personal income, with fast approval timelines and flexible terms designed for the pace of investment real estate. Call [(231) 737-9911](tel:+12317379911) to fund your next project. [Start Your Application](https://shannonswartz.zipforhome.com/LoanApplication/Contact?Language=E&IsStart=Y) Overview ## What Are Fix and Flip Loans? Fix and flip loans are short-term financing products designed for real estate investors who purchase undervalued properties, renovate them to increase market value, and sell them for a profit. These loans cover both the acquisition cost and the renovation budget, providing investors with the capital they need to execute the entire project cycle. Unlike traditional mortgages with 15- to 30-year terms, fix and flip loans typically run 6 to 18 months. Interest rates are higher than conventional financing, but the short duration and quick approval process make them well-suited for investment strategies that depend on speed and flexibility. Lenders evaluate fix and flip loans primarily based on the property’s after-repair value (ARV) rather than the borrower’s personal income. This asset-based approach allows investors to qualify based on the deal itself, with the projected resale price serving as the primary underwriting metric. Eligibility ## Fix and Flip Loan Requirements ### Experience Prior flip experience is preferred but not always required. First-time investors may qualify with a strong credit profile and detailed renovation plan. ### Down Payment Typically 10% to 20% of the purchase price. Some lenders also require a percentage of the renovation budget upfront. ### Credit Score Minimum scores of 600 to 660 are standard. Higher scores qualify for lower rates and higher leverage. ### Property Evaluation The lender assesses the property’s current value, location, condition, comparable recent sales, and projected after-repair value. ### Renovation Plan A detailed scope of work with itemized cost estimates and a realistic timeline is required. Lenders want to see the numbers add up to a profitable exit. ### Exit Strategy A clear plan to sell or [refinance](https://pierpointmortgage.com/mortgage-refinancing/) the property after renovation. Lenders evaluate your projected timeline and comparable sales to confirm feasibility. Process ## How Fix and Flip Loans Work 1 ### Find the Deal Identify a distressed property with strong profit potential. Calculate the purchase price, renovation costs, and estimated after-repair value to confirm the deal pencils out. 2 ### Submit Your Application Provide the purchase contract, renovation plan, cost estimates, comparable sales data, and your investor resume to PierPoint Mortgage. 3 ### Property Evaluation The lender orders an appraisal or broker price opinion to determine both the current as-is value and the projected after-repair value. 4 ### Loan Approval Based on the property evaluation, your credit profile, and the strength of the deal, the lender issues a term sheet with rates, fees, and funding structure. 5 ### Renovation and Draw Schedule Funds for renovation are typically released in stages (draws) as work is completed and inspected. This protects both the lender and borrower. 6 ### Sell and Repay Once renovation is complete, list the property, close the sale, repay the loan principal and interest, and retain the profit. Advantages ## Benefits of Fix and Flip Loans ### Fast Funding Many fix and flip loans close in 7 to 14 days, allowing investors to act on time-sensitive deals that would be lost waiting for conventional financing. ### Renovation Financing Included The loan covers both the purchase price and the renovation budget, so you do not need separate financing for each phase of the project. ### Asset-Based Qualification The deal drives the approval, not your personal income documents. If the numbers work, the loan can be approved even without traditional income verification. ### Scalable There is no limit on the number of fix and flip loans you can have simultaneously. Active investors can run multiple projects at once. ### Flexible Terms Loan terms of 6 to 18 months with interest-only payments during the renovation period keep your carrying costs low while the work gets done. Ideal Borrower ## Who Should Consider a Fix and Flip Loan? Fix and flip loans are built for real estate investors at every experience level who want to purchase, renovate, and resell properties for profit. Whether you are completing your first flip or managing multiple renovation projects simultaneously, these loans provide the speed, flexibility, and capital structure that investment real estate demands. Experienced investors benefit from higher leverage and lower rates based on their track record. Many lenders offer tiered pricing that rewards investors who have successfully completed previous projects. First-time flippers can still qualify by presenting a solid renovation plan, realistic budget, and strong credit profile. Contractors and builders who want to leverage their trade skills into investment profits are natural candidates. If you can manage the renovation in-house, your reduced labor costs improve the deal economics and make the loan even more attractive to lenders. Comparison ## How Does This Compare? | Feature | Fix and Flip | Hard Money | [DSCR](https://pierpointmortgage.com/dscr-investor-loans/) | Conventional | | --- | --- | --- | --- | --- | | Loan Term | 6-18 months | 6-24 months | 30 years | 15-30 years | | Use Case | Buy, renovate, sell | Bridge/quick purchase | Rental hold | Primary/investment | | Qualification | ARV-based | Collateral-based | Rental income | Personal income | | Renovation Funding | Yes (draws) | Sometimes | No | No | | Speed to Close | 7-14 days | 7-14 days | 21-30 days | 30-45 days | | Interest Rate | 9-13% | 10-15% | 6-9% | 5-7% | FAQ ## Frequently Asked Questions Do I need experience to get a fix and flip loan? Not always, but experience helps. First-time investors can qualify with a strong [credit score](https://pierpointmortgage.com/credit-info/), a detailed renovation plan, and sufficient reserves. Some lenders require at least one completed project for their best rates and terms. How much can I borrow for renovation costs? Most lenders finance up to 100% of renovation costs, with a total loan amount not exceeding 70% to 75% of the after-repair value (ARV). Renovation funds are disbursed in draws as work milestones are completed. What interest rates should I expect? Fix and flip loan rates typically range from 9% to 13% depending on your experience, credit score, down payment, and the specific deal. Points (origination fees) of 1 to 3 points are also standard. Can I refinance a flip into a rental loan? Yes. If you decide to hold the property as a rental instead of selling, you can refinance the fix and flip loan into a DSCR or conventional investment loan before the term expires. What happens if the project takes longer than expected? Most lenders offer loan extensions of 3 to 6 months for an additional fee. Communicate early with your lender if timelines shift to avoid default situations. Related Products ## Explore More Loan Options [Hard Money Loans](https://pierpointmortgage.com/hard-money-loans/)[DSCR Investor Loans](https://pierpointmortgage.com/dscr-investor-loans/)[Commercial Loans](https://pierpointmortgage.com/commercial-loans/)[New Construction Loans](https://pierpointmortgage.com/new-construction-loans/) ## Available Across 15 States PierPoint Mortgage is licensed and lending in [Alabama](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-alabama/), [Colorado](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-colorado/), [Connecticut](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-connecticut/), [Florida](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-florida/), [Georgia](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-georgia/), [Louisiana](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-louisiana/), [Michigan](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-michigan/), Mississippi, New York, [North Carolina](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-north-carolina/), Ohio, [Oregon](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-oregon/), [Pennsylvania](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-pennsylvania/), and [Washington](https://pierpointmortgage.com/mortgage-broker/mortgage-broker-washington/). [View All Service Areas →](https://pierpointmortgage.com/service-areas/) --- **Shopping a mortgage in one of our 15 states?** PierPoint Mortgage is an independent brokerage, NMLS #112844, licensed since 2003. We compare wholesale rate sheets from 100+ lenders instead of selling one bank's products, and give you a written quote before you commit to anything. - Free rate comparison: (231) 737-9911 - Apply: https://pierpointmortgage.com/apply/ - Full page: https://pierpointmortgage.com/fix-n-flip-loans/