A fix & flip loan is short-term financing that bundles the purchase price and renovation budget of a distressed property into one loan, with rehab funds released in draws as work is completed. Fix & flip loans fund up to 90% of the purchase price, carry 6–18 month interest-only terms, and are repaid by selling or refinancing the property.
What is a Fix & Flip?
Fix & flip loans provide short-term capital for investors to acquire, renovate, and resell distressed properties for profit. These loans bundle the purchase price and rehab budget into one facility, with funds released in draws as renovation milestones are completed.
ASB Capital Loan Funding funds fix & flip loans for both experienced and first-time investors. With fast approvals, rehab funds included, and flexible underwriting, we help you close quickly and execute your renovation with confidence.
Program Highlights
- Up to 90% of purchase price
- Rehab funds included in the loan
- Quick approvals — close in days
- Experienced & first-time investors welcome
- Funds released in renovation draws
- Short 6–18 month terms
Who This Loan Is For
- •Investors acquiring distressed properties
- •Rehabbers renovating for resale
- •BRRRR investors needing acquisition + rehab capital
- •New and experienced flippers
Typical Requirements
- •Purchase price + rehab budget within ARV/LTC limits
- •Down payment typically 10–15% of purchase
- •Detailed rehab scope and budget
- •Credit score usually 640+ (flexible)
- •Exit strategy: sale or refinance
- •Property appraisal supporting after-repair value
Key Terms to Know
- Fix & Flip Loan
- Short-term financing covering the purchase and rehab of a property intended for rapid resale.
- ARV (After-Repair Value)
- The projected value of the property once renovations are complete. Fix & flip loans are sized against ARV.
- LTC (Loan-to-Cost)
- The loan amount divided by total project cost (purchase + rehab). Most flippers see 75–90% LTC.
- Draws
- Staged disbursements of rehab funds, released as completed work is inspected.
See our FAQ and loan resources for more definitions and checklists.