Who this is for
Who uses these loans
Flippers
Buy distressed, renovate, sell.
BRRRR investors
Buy, rehab, rent, then refinance to a DSCR loan.
Experienced rehabbers
Better terms with a track record.
First-time flippers
Some lenders lend with a strong team and plan.
Program highlights
Highlights
Rehab draws
Construction funds released as work completes.
After-repair value
Loan sized on the finished value.
Interest-only
Keeps carrying costs down.
Exit plan
Sale or DSCR refinance.
Qualification guidelines
What lenders look at
Typical guidelines across my lender network. Every file is different, and I will tell you exactly where you stand after a quick review.
| Factor | Typical requirement | Required? |
|---|---|---|
| Experience | Helps pricing and leverage | SOMETIMES |
| Scope of work | Detailed budget | ✓ YES |
| Down payment | Typically 10–25% of purchase | ✓ YES |
| Entity | LLC usually required | ✓ YES |
| Personal income docs | Not needed | ✗ NOT REQUIRED |
In Hawaii
Flipping in Hawaii
- Contractor availability and permits drive timelines; build them into the loan term.
- Business purpose only. These loans aren't for homes you'll live in.
- HARPTA/FIRPTA may apply to nonresident sellers at sale.
How it works
From first call to closing
- Deal reviewPurchase price, budget and after-repair value.
- Term sheetLender options compared.
- Close and renovateDraws as work is done.
- ExitSell or refinance.
Common questions
Fix & Flip FAQ
How fast can it close?
Often in two to three weeks with a clean title and appraisal.
Do I need experience?
Not always, but experience improves leverage and pricing.
Can I refinance into a rental loan?
Yes, many investors refinance into a DSCR loan once the property is rented.
Is this a consumer loan?
No. These are business-purpose loans for investment property.
Sources: Business-purpose lending guidelines vary by lender; HRS §235-68 (HARPTA).
Bank statement, P&L, DSCR, ITIN, foreign national, condotel and fix-and-flip programs are non-QM or business-purpose products. They are not conventional, FHA, VA or USDA loans, and rates and down payments are typically higher.
