What credit score do I need for a fix & flip loan?

LYNK Mortgage accepts 620+ credit. Your deal strength (ARV, budget, down payment) matters more than credit score. A 620-credit borrower with a strong deal gets approved; a 700-credit borrower with a weak deal might decline.

Can I use a contractor I haven't worked with before?

Yes, but we verify they're licensed and insured. LYNK Mortgage also uses our own inspectors to verify work quality during draws. Using a reputable contractor (Google reviews, references) strengthens your application.

What happens if my renovation costs exceed budget?

You cover the overages from personal funds. The loan amount is locked at closing based on the approved budget. Some lenders offer construction overruns, but LYNK Mortgage doesn't typically fund over-budget overruns. Be conservative with estimates.

Can I refinance a fix & flip to DSCR after renovation?

Yes—if you decide to hold the property as a rental instead of selling, LYNK Mortgage can refinance the flip loan to a DSCR loan. The property is re-appraised (now showing good condition), and we underwrite to rental income (DSCR). This is called a 'flip-to-hold' strategy and is increasingly popular.

How to Get a Fix and Flip Loan: Step-by-Step Process

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Quick Facts

Rates from

8.50%

LTV (purchase)

Up to 70%

LTC (construction)

Up to 95%

Max Loan

Up to $2.5 million

Close Time

10 days

Getting a fix and flip loan requires finding a distressed property, analyzing the after-repair value (ARV), developing a budget, and applying with proof of funds. LYNK Mortgage closes fix & flip loans in 10 days with rates from 8.50%, LTV up to 70% and LTC up to 95%.

Step 1: Find a Deal and Calculate ARV

The fix and flip process starts with finding a distressed property (foreclosure, estate sale, off-market deal, etc.). Once you have a property under contract, calculate the after-repair value (ARV): what will the property sell for after full renovation? Use comparable sales (comps) in the area, not current as-is price. Example: property purchased at $250k, needs $50k in rehab, ARV $350k. LYNK Mortgage will order an appraisal to verify ARV is realistic. Conservative ARVs are critical; overestimating ARV is the #1 reason flips fail. Use experienced contractor estimates (not DIY guesses) for repair budgets.

Step 2: Develop Budget and Loan Request

Create a detailed rehab budget: roof, HVAC, plumbing, electrical, flooring, paint, permits, inspections, holding costs (utilities, taxes, insurance), realtor commission (6%), and a 10% contingency buffer. Example: $50k budget might be $8k roof, $7k HVAC, $6k plumbing, $5k electrical, $5k flooring/paint, $3k permits, $3k holding, and $13k contingency. Total request to LYNK Mortgage: purchase price ($250k) + closing costs ($7.5k) + rehab budget ($50k) = $307.5k. LYNK Mortgage's LTC (loan-to-cost) of 95% means we can fund up to $291k on total acquisition + rehab costs if you put 5% down ($15.5k). This is asset-based: we care whether the deal pencils, not your personal income.

Step 3: Submit Application and Documents

Apply with: purchase contract, contractor estimates (itemized), comparable sales (3-5 recent comparable flips in the area), photos of property as-is, ARV estimate (appraisal-ready), proof of funds ($15.5k down + 10% contingency for your reserve), timeline (acquisition date, expected rehab duration, expected sale date). LYNK Mortgage reviews the deal economics; if ARV is defensible and budget is reasonable, we order appraisal. If deal doesn't pencil (ARV too low, rehab budget too high, exit unsure), we decline. Pre-qualification can happen in 1-2 days with basic info; full approval takes 5-7 days after appraisal.

Step 4: Closing and Fund Draws

LYNK Mortgage closes in 10 days from appraisal. At closing, you receive the purchase fund (property price + closing costs). Rehab funds are held in escrow and drawn in stages as work completes. Typical draw structure: 25% upon framing, 50% upon mechanical completion, 100% upon final inspection. You submit invoices and photos; LYNK Mortgage's inspector verifies work, releases draws. This protects you and LYNK Mortgage: you don't pay contractors upfront, funds are released as milestones hit. Interest accrues on the full loan amount during construction (typically up to 12 months), then you sell and pay off.

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Frequently Asked Questions

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The LYNK Mortgage Difference

Close in 10 Days

From application to funding — move at the speed of your deal.

Instant Term Sheets

Transparent rates, terms, and fees upfront — no hidden surprises.

No Tax Returns

We focus on the deal, not your personal paperwork.

Dedicated Team

One loan officer on your deal from start to finish — no handoffs.

Direct Lender

We make our own decisions and fund with our own capital.

$1 billion+ Funded

Trusted by investors nationwide with a proven track record.

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LYNK Mortgage offers fix & flip loans, new construction loans, multi-family bridge loans, and DSCR rental loans to real estate investors.

Disclaimers: LYNK Mortgage makes loans solely for business purposes (and not for personal or consumer use) and is exempt from licensing in all states in which it operates. LYNK Mortgage does not lend on owner-occupied properties. Listed rates, terms, and conditions are offered only to qualified borrowers, may vary by loan product, deal structure, property state, or other applicable considerations, and are subject to change at any time without notice. No information on this site is intended to, or shall, create a legally binding commitment or obligation on the part of LYNK Mortgage and all terms are expressly subject to LYNK Mortgage's credit, legal, and investment approval process.

2301 Sugar Bush Road, Suite 310, Raleigh, NC 27612