Fix and Flip Loan Requirements

LYNK Mortgage checks credit on every fix & flip loan. Our Prime program starts at 660+, and our Expanded program accepts scores down to 580 on loans of $250K and up. Lower credit scores are offset by stronger deal metrics and down payment: a lower-credit borrower with a strong deal (20%+ down, excellent ARV, experienced contractor) can get approved, while a 700-credit borrower with a marginal deal (thin equity, questionable ARV) might be declined. Credit score is one input; the overall deal picture matters more than credit alone. Late payments, collections, or bankruptcy require explanation but don't automatically disqualify you. What matters: do you have recent payment history, good payment patterns, and a track record as a borrower?

LYNK Mortgage requires proof of funds: documented evidence you have liquid capital for down payment and contingency reserves. How much you need depends on your leverage: every loan is capped by a share of the as-is value, loan-to-cost and a share of the ARV, and the top 95% LTC is reserved for experienced investors on qualifying Expanded loans. Example: an experienced investor on a $300k project at Prime light-rehab terms might bring about $25k down plus a 10% contingency ($30k) = $55k of liquid capital; a first-time flipper, capped at 85% of cost, would bring at least $45k down plus contingency. Bank statements showing the required balance work. Investment account statements, line of credit, or liquid assets count. LYNK Mortgage doesn't require funds to be seasoned (sitting for 90 days) on fix & flip loans; we care that funds exist and are available. For first-time borrowers, keeping extra liquidity beyond the down payment and contingency is prudent to cover unexpected overruns.

Submit detailed contractor estimates (itemized by line item, not lump sum). Example: $50k budget itemized as $8k roof, $7k HVAC, $6k plumbing, $5k electrical, $5k flooring/paint, $3k permits, $3k holding, $13k contingency. Generic "$50k in repairs" doesn't work. LYNK Mortgage reviews estimates against market rates; if estimates are unusually high or low, we question them. Include contractor's license, insurance, and references. Comparable sales (3-5 recent comps of similar flips sold in the area) prove ARV is realistic. Photos of the property as-is help LYNK Mortgage's appraiser understand scope. A detailed timeline (expected closing, rehab duration, expected sale date) shows you've thought through execution.

LYNK Mortgage doesn't require prior flipping experience, but it directly affects your leverage. First-time flippers with strong deals get approved, capped at 80% of as-is value, 85% of cost and 65% of ARV (60% on Expanded), with a renovation budget of about $100K (about $150K after one or two completed projects). Experienced investors unlock the highest leverage and larger budgets, and if you've flipped 10+ properties, your experience is a plus (faster approval, potentially better terms). New investors should be prepared to explain: How did you analyze this deal? What's your exit plan? Do you have a contractor relationship? If experience is thin, partner with someone who has done flips or expect more scrutiny on deal mechanics. LYNK Mortgage also offers priority processing for returning borrowers: faster closings and streamlined underwriting once you have a track record with us.