Best Fix-and-Flip Lenders Top Picks

You may need to borrow money to buy the house you’d like to flip. That’s OK. Every investor has to start somewhere.

That said, the typical 30-year fixed-rate mortgage won’t work. These loans finance move-in ready homes that you’ll live in for years — not homes you’ll sell in a few months. Instead, check out specialized fix and flip loans.

Below you’ll find some of the best fix and flip lenders on our radar.

11 Best Fix and Flip Lenders

Since the federal government monitors conventional and FHA lenders, those loans work about the same, no matter which lender you choose.

Not so with fix and flip lending. The best fix and flip lenders have more regulatory freedom to develop unique strengths and weaknesses. For you, the borrower, this can be good. It means you can find a lender whose loans line up closely with your goals.

We recommend checking out these 10 best fix and flip lenders for 2023.

This article contains affiliate links. We may receive compensation if you use a partner bank for financing. We never recommend a service we wouldn’t use ourselves. Period.

Park Place Finance

This Austin, Texas-based lender can help new and experienced house flippers finance their next project. Like most of our favorite lenders on this list, Park Place has a people-first approach to underwriting. Once you’re connected with a loan officer, you can discuss your project in person.  

Be prepared to share details about your project — its purchase price, rehab budget, and anticipated after-repair value (ARV). But, in most cases, Park Place won’t need to verify your personal income and finances, aside from checking your credit score.

Borrowers with credit scores as low as 680 can qualify, but if you’re a first-time flipper, Park Place might want to see a higher number.  

• Loan Amount: $75,000 to $2 million
• Down payment: 30% of after-repair value (ARV)
• Minimum Credit Score: 680
• Flipping Experience Required: Experience is preferred

Viva Capital Group

This Florida-based lender offers several types of fix and flip loans. Viva recommends having a conversation with a loan officer to help decide which loan to use.

Whichever loan you need, Viva can turn it around quickly so you can make good on your offer to buy a home — even if you’re in a competitive market.

Viva’s best rates and terms go to experienced investors, but this shouldn’t scare away new investors. In fact, Viva has a fix and flip loan designed especially for first-time flippers.

• Loan Amount: $50,000 to $10 million
• Down payment: 25% of ARV
• Minimum Credit Score: 575
• Flipping Experience Required: Preferred

• Close In Days
• No Income/Employment Verif.
• First-time Investors Okay
• Available In 48 states

• $50k-$5M
• 6-24 Month Terms
• 620 Min. FICO
• Up to 70% ARV

Get Qualified

Offer Market

This company is a leader in DSCR financing and offers solid options for home flippers, too. Among its most useful offerings is its Fix and Flip Calculator, which estimates profit, cash to close, and cash-on-cash return.

It can work with new investors and takes a make-sense approach to its underwriting. It reviews all scenarios in house and lets you track progress of your loan application.

But the best part are their instant online loan quotes.

• Loan Amount: $50,000 to $25 million
• Down payment: 25% of ARV
• Minimum Credit Score: 575
• Flipping Experience Required: New investors OK

Lima One Capital

Lima One Capital, based in Greenville, S.C., provides fix and flip loans to new and experienced investors in every state except Alaska, the Dakotas, and Vermont.

Like most of the best fix and flip lenders on this list, Lima One runs its entire borrowing process in-house. This means borrowers can expect personalized attention and faster turn times.

Lima won’t be the cheapest option for experienced investors, and it’s not the best choice for a house that needs intense structural rehab. But this lender could be the best fit for a first-time home flipper.

• Loan Amount: Up to $2 million
• Down payment: 10% of loan amount or 30% of ARV
• Minimum Credit Score: 660
• Flipping Experience Required: No

RCN Capital

RCN Capital welcomes new and experienced investors, though more experienced flippers can qualify for better loan rates and terms.

For example, if you’ve completed two or fewer flips in the past three years, you’ll need to pay 20% of the loan cost down. More experienced flippers can put only 15% down.

RCN Capital’s fix and flip loans work like a line of credit. Interest charges accrue only on the part of the loan you’ve used — not the entire loan amount you’re approved for. So if you draw money from the loan gradually, you can pay lower finance charges.   

• Loan Amount: $7.5 million for single-family home
• Down payment: 30% of ARV; 15% of loan cost
• Minimum Credit Score: 620
• Flipping Experience Required: Preferred

Kiavi

This San Francisco-based lender specializes in lower down payments and faster close times.

Kiavi’s fix and flip options can close quickly because the lender uses its own valuation system instead of relying on third-party appraisers. Kiavi also uses technology well. This can speed up the qualifying process, especially for tech savvy borrowers.

Borrowers who have experience flipping homes — plus excellent credit scores — could pay as little as 10% of the initial loan cost down.

• Loan Amount: $75,000 to $1.5 million
• Down payment: 25% of ARV or 10% of loan cost
• Minimum Credit Score: 660
• Flipping Experience Required: No

AMZA Capital

This lender has a lot to offer experienced investors, but new investors should keep scrolling since their programs are more suited for seasoned flippers. AMZA’s fix and flip loan is straightforward and simple. Borrowers who have used flx and flip loans before can get the funds they need quickly.

AMZA won’t work as well for investors who aren’t already familiar with the borrowing process.

One of AMZA Capital’s biggest appeals: its fix and flip line of credit which can help pros flip multiple houses at once. A credit line could reach as high as $50 million.

• Loan Amount: Up to $2.5 million
• Down payment: 25% of ARV
• Minimum Credit Score: 650
• Flipping Experience Required: Experienced preferred

New Silver

A lot of home flippers, especially inexperienced investors, enjoy working directly with a personal loan officer. Other investors don’t want to spend time in conversation. They want a fast, online interface where they can enter raw data and get a fast answer.

New Silver’s online-only application can assess your project quickly. If you like what you see, you can move forward and, possibly, have a proof of funds letter on the same day.

Other New Silver benefits include an interest-only payment option which can help lower your initial project costs. New Silver opened in 2018 and doesn’t fund projects in Idaho, Vermont, the Dakotas, Minnesota, Oregon, Nevada, or Utah. 

• Loan Amount: $100,000 to $5 million
• Down payment: 20% of ARV; 10% of loan cost
• Minimum Credit Score: 650
• Flipping Experience Required: No, but experienced borrowers can get fee discounts

Anchor Loans

Anchor Loans specializes in financing for career house flippers. An investor who has completed at least three projects over the past 12 months can get fast funding with smaller-than-average down payments.

Like Kiavi, Anchor Loans assesses property values in-house instead of relying on third-party appraisers.

Anchor likes to build relationships with established home flippers so it can become their regular source of financing. It won’t work for a first-time or occasional flipper.

• Loan Amount: $50,000 to $10 million
• Down payment: As low as 7.5% of loan size
• Minimum Credit Score: 650
• Flipping Experience Required: Yes

Groundfloor

Groundfloor takes a different approach: crowd-funding its fix and flip loans. Individuals invest money into Groundfloor. Then the platform uses that money to fund real estate loans, including fix and flip loans.

Groundfloor offers its best rates and terms to experienced investors, but it can fund new investors, too. In fact, new investors can discuss their project without making a commitment by signing up for a 15- or 30-minute conversation online. 

• Loan Amount: $75,000 to $750,000
• Down payment: 30% ARV
• Minimum Credit Score: 640
• Flipping Experience Required: No, but experienced flippers can get better terms

Fix and Flip LLC

Fix and Flip LLC was founded in 2008 by an experienced house flipper. This lender welcomes first-time flippers, offering a simple and easy-to-use online application.

New investors may like Fix and Flip’s ability to merge online and in-person interactions. You’ll enter data about your project online, but human underwriters will be analyzing the data and deciding whether to finance your project.

• Loan Amount: $150,000 to $50 million
• Down payment: 30% of ARV
• Minimum Credit Score: 660
• Flipping Experience Required: No

Look beyond rates for the best fix and flip lenders

Did you notice we didn’t compare interest rates between these 11 lenders? That’s because rates vary so much based on each borrower’s (and each project’s) unique profile.

Also, you’ll be dealing with the loan’s interest rate for only a few months. It’s more important to find a lender you like working with throughout the process — a lender you might like to use again, for your next project, in a few months.

Chances are one of the lenders on this list will work well for you. Reaching out to your top three choices will increase your odds of finding your best fix and flip lender.