Fix and Flip Loans

Fix-and-flip loans are short-term loans used by real estate investors to purchase and improve a property to then sell for a profit or refinance. These improvements range from minor renovations to a complete reconstruction of an existing home. The initial draw will be calculated based on the As-is Value of the Property and the renovation budget will be advanced in construction draws.


Standard Loan Terms

  • Max Loan Amount: $5,000,000
  • Max LTV/LTC:
    – Experienced Investors: 70% of Appraised Value
    or 80% of Project Cost (The lowest)
    – Inexperienced Investors: 60% of Appraised
    Value or 70% of Project Cost (The lowest)
  • Rate:
    – Experienced Investors: 8%-8.99% 
    – Inexperienced Investors: 9%-9.75%
  • Term of loan: 12-18 months
  • Payments: Monthly Interest Payments with
    Balloon at Maturity
  • Prepayment penalty: None

Standard Costs

  • Origination Fee: 1-2%
  • Underwriting Fee: $1,500
  • Feasibility and Contractors Report: $1,200
  • Draw Fee (for future draws on the loan): $400
  • Legal: $750 – $1,500
  • Appraisal Fee: $500-$950
  • Title Insurance and recording fees: 1%

Property Types

  • Condominiums.
  • Single-family residences.
  • Two to four units.
  • Multifamily homes.
  • Townhouses.
  • Other property types case by case

Standard Requirements:

  • Credit Application
  • Last 2 bank statements (US bank account)
  • Copy of ID and Borrowing Entity docs
  • Purchase Contract (If Purchase)
  • Project budget/ Scope of work
  • Approved plans (If applicable)
  • Track Record Sheet
  • Contractors information
  • Property Insurance

Standard Closing Time

  • The Usual Time to Close is 10-15 days.

RBI Mortgages is a direct lender and does not rely on other institutions to close the loans. Once the title work, appraisal and feasibility report are ready, We will be too!

Contact us


What is the interest rate and loan term?
Usually, loan rates are 9% and 1.75% points. Loan terms are 12-36 months

What is the loan type?
Most our loans are interest only, which means a fixed interest is paid throughout the term and full balance at maturity. For example, a $100,000 with 12 months term and 9% rate will yield 12 monthly payments of $750 and a final payment of $100,000

What happens if I sell the property or prepay the loan before maturity?
In most of our loans there is no prepayment penalty.