Fix and Flip Loan Requirements

LYNK Mortgage approves fix & flip loans with credit scores as low as 620. However, lower credit scores are offset by stronger deal metrics and down payment. A 620-credit borrower with a strong deal (20%+ down, excellent ARV, experienced contractor) gets approved. A 700-credit borrower with a marginal deal (5% down, questionable ARV) might decline. 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. At 95% LTC, you need 5% down plus 10% contingency buffer. Example: $200k project = $10k down + $10k contingency = $20k total liquid capital required. Bank statements showing $20k+ available 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, having $25-50k liquid 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 helps. First-time flippers with strong deals get approved. 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.