Fix and Flip Loan Requirements: What You Need to Qualify
If you’re ready dive into the world of real estate investing, fix and flip loans can be a powerful tool to help you build wealth fast. But, before you start demoing kitchens or scheduling open houses, there’s one important step: financing.
Many investors, especially first-time flippers, wonder what it takes to qualify for a fix-and-flip loan. In this guide, we will walk you through the typical requirements, explain how private lenders like Barnett REI Finance evaluate deals, and show how to get funded quickly with less red tape than traditional banks.
What is a Fix and Flip Loan?
A fix-and-flip loan is a short-term, asset-based loan used to purchase and renovate distressed properties to resell them for profit. These are fast-moving loans that typically cover both the acquisition and the renovation costs.
What Do You Need to Qualify for a Fix and Flip Loan?
Requirements vary by lender, but here’s what most private lenders consider when reviewing your loan application:
A Profitable Deal
Many Lenders give preference to borrowers with a history of successful flips, but at Barnett REI Finance, we work with first-time flippers too.
Experience may impact :
Lenders will look at:
ARV (After Repair Value) of the property
Your Purchase price and rehab budget
How much equity is built into the deal
A solid exit strategy (resale timeline or refinance plan)
If the numbers make sense, then you are off to a strong start.
2. Experience (Nice to Have, Not Always Required)
Many lenders give preference to borrowers with a history of successful flips, but at Barnett REI Finance, we work with first-time flippers too.
Experience may impact:
Loan terms (interest rate, down payment)
How much leverage you’ve offered
Whether you’re eligible for repeat borrower perks
3. Down Payment or Skin in the Game
Most private lenders want to see that you have some capital in the deal. The amount depends on your experience and the strength of the project.
4. Credit Score
While traditional banks require a stricter credit score minimum, private lenders are more flexible.
At Barnett REI Finance, we’re more interested in the deal performance than a perfect credit score. That said, having a good credit score is a plus.
5. Basic Documentation
Here’s what you’ll typically need to submit :
Purchase contract or property address
Renovation budget/scope of work
Your ID and entity docs (LLC)
Basic credit and background check
Exit strategy (sale or refinance)
Why Choose Barnett REI Finance?
If you’re looking for a lender who understands real estate investors and moves at the speed of opportunity, we’re your team.
Here’s why investors choose Barnett REI Finance:
Fast approvals and closings
Loans designed for fix-and-flip investors
Competitive rates and terms
Personal support (not just a portal)
We fund based on potential - not paperwork
How to Get Started
Whether you’re a first time flipper or looking to scale your next project, we make it easy to access the capital you need.
Step 1: Submit a deal (no commitment required)
Step 2: We’ll run the numbers and send you terms
Step 3: Close fast and get to work!
Apply today or reach our to see how much we can fund on your next project.