Fix and Flip Financing: How to Get Funded in 10 Days or Less

Speed kills deals — but not in the way you think. In fix-and-flip investing, the investors who close fastest are the ones who win the best deals. If your financing takes 30-45 days while another buyer can close in 10, you've already lost. At OpenLane Funding, we specialize in getting fix-and-flip investors funded fast, often in 7-21 days.

What Is a Fix and Flip Loan?

Fix and flip loans (also called bridge loans or hard money loans) are short-term financing designed for investors who purchase, renovate, and resell properties for profit. Unlike conventional mortgages that take 30-45 days and require income verification, fix-and-flip loans are asset-based — meaning the deal qualifies, not your W-2.

Current Fix & Flip Loan Terms in 2026

Rates: 7.5%–13.5% depending on experience, credit, and leverage. Best-tier experienced borrowers with 750+ FICO can see rates as low as 7.5%-9%. Leverage: Up to 90-95% of purchase + rehab costs (LTC), capped at 70-80% of after-repair value (ARV). Terms: 6-36 months (most common: 12-18 months). Closing Speed: 7-21 days — experienced borrowers can close in as few as 5 days. Credit Score: 600-680 minimum typical. Some asset-based programs have no minimum. Loan Amounts: $30,000-$5,000,000+.

The 5-Step Process from Submission to Closing

1. Submit Your Deal — Provide the property address, purchase price, rehab budget, and ARV estimate. We review within 24 hours.

2. Get Matched to a Lender — We analyze your deal against our network and present the best options based on rate, leverage, and speed.

3. Processing & Underwriting — Most fix-and-flip loans require a BPO or desktop appraisal, not a full appraisal. Fast and efficient.

4. Close & Fund — Closing typically occurs in 7-21 days. Purchase funds disbursed at closing; rehab funds held in escrow.

5. Draw on Rehab Funds — As you complete renovation phases, request draws. An inspector verifies completed work, and funds are released.

Do You Need Flipping Experience?

Lenders prefer borrowers with 1-3+ completed flips in the past 36 months. Experienced flippers (5+ projects) get the best rates and highest leverage. But first-time flippers can absolutely qualify — you'll need a strong contractor team, a detailed scope of work, and good credit (680+). Everyone starts somewhere.

Common Mistakes That Kill Flip Deals

• Underestimating rehab costs by 15-25% (always add a contingency buffer)

• Overestimating ARV based on best-case comps instead of conservative ones

• Ignoring holding costs (interest, insurance, taxes, utilities) in your profit calculation

• Taking on too much leverage without a clear exit strategy

Ready to Fund Your Next Flip?

Submit your deal at openlanefunding.com or call us at 208-215-9936. With 560+ loans closed and a lender network that covers the full spectrum of fix-and-flip financing, OpenLane Funding gets you to the closing table fast. Let's get your next deal funded.