Fix and Flip Loans
The best loan type for real estate investors who are looking to purchase or refinance an property with the least amount of money out of pocket while having one loan for the renovations and purchase price.
What Are Fix and Flip Loans?
Fix and flip loans are short-term financing solutions specifically designed for real estate investors who purchase or currently own distressed properties, renovate them, and sell them quickly for profit or turn them into rental properties.
Unlike traditional mortgages these loans focus on the properties after repair value (ARV) to determine your max loan amount. These loans can close in a matter of days rather than weeks, making them a great loan option if you need to close quickly to help you get a specific property under contract.
What Do You Need To Qualify for an Fix and Flip Loan?
- Minimum credit score of 620
- Can fund 100% of the renovation costs
- Down payments as low as 10% of the purchase price
- 6 months of mortgage payment reserves (The payments on fix and flip loans are interest only)
- Scope of work for the renovations being completed
- Must close in a business entity such as a LLC or corporation
- Minimum Loan amount: $50,000
- Max Loan amount: 75% of the after repair value
- Eligible Property Types: SFR, Condos, Townhomes, Multi-Family (2 – 4 units)
Who Are Fix and Flip Loans for?
Fix and flip loans are for any real estate investor who flips properties for a profit or for anyone looking to grow their rental property portfolio. They help real estate investors keep more of their hard earned cash in their pocket so they can have funds to purchase their next deal.
You can purchase your next real estate investment with as little as 10% of the purchase as the down payment and closing costs. If you also just purchased a property cash and need to free up those funds, you can take advantage of our delayed financing. If you closed on a property within 90 days. Basically fix and flip loans are designed to help you scale your real estate investing business.
The Fix and Flip Loan Process and How To Get Started
Getting stared on a fix and flip loan with MacLagan Home loans is simple. First, you need to know the address of the subject property. Then we will complete an loan application and you will need to submit the following info.
- Scope of work. This breaks down the renovation and what you will be doing to the property.
- Submit a personal financial statement (We will provide you with a form for this).
- ID or Driver’s License
- Submit Your Business Entity Documents: EIN Confirmation, Articles of Organization or Incorporation, Operating Agreement, and a Certificate of Good Standing
- Last 2 months of bank statements. This will be used to show you have enough funds for the down payment and closing costs along with the 6 months of interest only payment reserves.
- Track record (We will provide you with this form). The more experience you have the less of a down payment you have to make.


Why A Fix and Flip Loan?
Typically an fix and flip loans are one of the easiest types of mortgage loans to qualify for because no income is verified, no tax returns are needed and you qualify based on what the after repair value, renovation, and purchase price of the property are.
Fix and flip loans have low down payments as low as 10%. As a real estate investor this keeps more money in your pocket so you have more money to go out there to purchase your next deal.
To get started on your fix and flip loan, just click the button below, answer a few questions, and a member of our team will be in contact with you shortly.
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Loans we offer
Your Home Loan Could Be Fully Funded 21 Days From Now Without Any Hassles!
Conventional Loans
A popular mortgage option for borrower’s with strong credit and stable income. Down payments as low as 3% and with competitive and adjustable rate options.
Read moreBank Statement Loans
The best mortgage option for self-employed borrowers. If you take all of your write offs on your tax returns and can’t qualify for a conventional loan, this is the perfect mortgage option for you.
Read moreVA Loans
The best loan option for eligible military veterans and active duty service members. 100% financing and no mortgage insurance.
Read moreJumbo Loans
A great mortgage option for borrower’s looking to finance a home that exceeds conventional loan limits. Down payments as low as 10%.
Read moreDSCR Loans
Rental property loans that require no income or employment verification. The best loan for real estate investors and landlords
Read moreFHA Loans
A great mortgage option for first-time home buyers or those with limited funds. They have flexible credit requirements and offer down payments as low as 3.5%.
Read moreFix and Flip Loans FAQ
What is the interest rate for a fix and flip loan?
Fix and flip loan interest rates typically range from 7-13%, depending on several factors including your experience level, credit profile, and the specific property.
At MacLagan Home Loans, we leverage our extensive lender network to secure competitive rates that maximize your project’s profitability. Remember, while rates matter, the speed and certainty of funding often provide greater value in competitive markets where the best deals move quickly!
Is there a prepayment penalty on your fix and flip loans?
The great news is that none of our fix and flip loans have prepayment penalties. This means if you finish your rehab in 2 weeks and within in a month of getting your loan you sell the property, you will not pay anything additional helping to make your deal more profitable.
Do you lend to first time investors/flippers?
Absolutely, we lend to first time flippers/ investors. We love working with first timers and helping them succeed.
The only negative with fix and flip loans when you are a first time flipper, is that you may have to put down as much as 20% of the purchase price and you may qualify for a higher interest rate.
How quickly can you close my fix and flip loan?
On average, we are closing fix and flip loans in 5 to 7 days. We can close in as quickly as 48 hours but to make that happen, we would need your cooperation to get your portion of the needed documents in asap.
What happens if I need longer than the 12 month loan term to complete my fix and flip?
We understand that renovations can face unexpected delays! If you need time beyond your initial 12-month term, MacLagan Home Loans offers straightforward extension options without requiring full refinancing. Typically, we can extend for 3-6 additional months with minimal documentation—just an updated project timeline and exit strategy. While there’s a modest extension fee (usually 0.5-1% of the loan balance), this is significantly more cost-effective than switching lenders or securing new financing, and we can typically process extensions in just 2-3 business days.