Finding the right lender for your fix and flip projects can be the difference between a successful investment and a financial setback. Direct private lenders, as opposed to brokers, provide funds directly to borrowers, offering a more straightforward process with fewer intermediaries, and often more favorable terms. In this article, we will cover the top 5 direct private lenders who specialize in fix-and-flip deals, with some of the most favorable terms on the market.
What is a Fix and Flip Loan?
Fix-and-flip loans are short-term loans designed for real estate investors aiming to buy, renovate, and quickly sell properties for profit. Unlike traditional loans, these loans prioritize the potential profit of the investment over the borrower’s income or credit score. Fix-and-flip loans provide the necessary funds to not only acquire a property, but also to renovate the property, and maintain it until it’s sold.
The main advantage of fix-and-flip loans is their speedy approval, which is a crucial factor in the fix-and-flip real estate niche. This also means they tend to be more expensive than traditional loans, featuring higher interest rates and requiring repayment in a shorter period.
Terms, such as interest rates and repayment schedules, vary based on the market conditions, and the specifics of the project, but ultimately on the lender. In this article, we’ve compiled 5 of the best private lenders for fix and flip deals, highlighting their terms and who they are suited to.
Top 5 Direct Private Lenders for Fix and Flip Deals
Kiavi (formerly LendingHome)
Kiavi, formerly known as LendingHome, is a digital lender specializing in fix and flip loans for residential real estate investors. Established in 2013, Kiavi leverages technology to simplify the loan process, providing quick access to capital. The company has funded over $18 billion in loans, facilitating the renovation of over 65,000 homes. With headquarters in San Francisco and a branch in Pittsburgh, Kiavi is one of the nation’s largest private lenders to residential real estate investors
Kiavi Rates and Terms
| Loan Amount Offered | $100k to $3M |
| Interest Rate | 9.25% to 12% |
| Term | 12 to 24-month terms with interest-only options |
| LTC | Up to 95% for purchase; 100% for rehab costs |
| ARV | Up to 80% of ARV |
| Repayment Schedule | Interest-only during rehab, then interest and principal |
| Credit Check | Minimum 650 FICO. No hard credit pulls |
| Typical Closing Time | 7 days |
| Loan fees and closing cost | 1.5% to 2.5% origination fee; $999 service fee |
| In-person Appraisal? | In-house valuation using comparative market analysis (CMA) |
| Prepayment Penalties | None |
| Refinance Options | As-Is value refinances that can be 12, 18, or 24-month terms. |
| Personal Guaranty | Required |
| Lend to Foreign Nationals | Kiavi does not lend to Foreign Nationals only to permanent resident and US citizen |
| States offered in | 33 states |
| Non-Recourse Loan | Available. But if you choose to not personally guarantee, it increases the rate by 1 point. |
| Rehab Draw | Rehab is only reimbursed on work completion. 179$ draw free. |
| Tax Return Required | No personal income verification required |
Why We’ve Chosen Kiavi
With a lower minimum interest rate than most of the lenders on this list, Kiavi poses itself as a great choice for borrowers looking for lower holding costs. Their major selling point however is how easy their application process is, coupled with how fast they get things done.
With the entire application process done online, Kiavi eliminates tedious paperwork, with the chance to finalize the loan in 5 days, but in a more practical 7 days. Investors can get prequalified online with a soft credit pull that doesn’t impact their credit score. There are no application fees, upfront costs, or obligations to accept any loan offers.
A big downside to Kiavi though is that they are not available in a lot of states, which means all the perks they offer only reach an underwhelming 33 states. You can check here to see if they are available in your state.
Insula Capital Group
Insula Capital Group is a private lender and real estate investment company that has been funding loans since 2015. They offer a variety of loan products, including short-term fix-and-flip loans, construction loans, and permanent financing options, all customized to meet the specific needs of their clients. With Financing up to 90% of Purchase Price and 100% of Rehab, Insula Capital Group has made it onto our top hard money lenders for Fix and Flip loans.
Insula Rates and Terms
| Interest Rate | 10.5%-11.75% |
| LTC | Up to 75% of the purchase price; Up to 100% of the rehab cost. |
| Term | 12–24-month terms |
| Loan fees and closing cost | 2.5 Points plus Lender Legal fees and Closing costs amounting to $2,000. |
| Credit Check | Used to determine interest rates along with industry experience. |
| Typical Closing Time | 3 to 4 weeks |
| Tax Returns | No personal income verification required |
| In-person Appraisal? | In-person appraisal. Appraisal fee of $550. |
| Rehab Draw | Based on receipts. $300 per draw. |
| Repayment Schedule | Charges in advance the first 2 months of interest rate and then you pay on a monthly basis subsequently. |
| Prepayment Penalties | None |
| Personal Guaranty/Full Recourse | Only for loans under $5 million. |
| Will lend to Foreign Nationals | Yes |
| States offered in | 42 states |
Why We Chose Mortgage Vintage
Mortgage Vintage’s Fix and Flip loan program is tailored specifically for active rehabbers with a proven track record of acquiring, renovating, and selling distressed properties within a 12-month timeframe. Their ability to provide same-day term sheets, fast funding within 7 to 10 days, and a transparent loan process ensures that investors can quickly access the capital they need to take advantage of market opportunities.
Another key factor that makes Mortgage Vintage, Inc. unique is the company’s innovative CrowdTrustDeed platform, offering a simple and secure online marketplace where investors can participate in trust deed investments with confidence.
New Silver Lending
New Silver is a fintech company specializing in fast financing for real estate investors focused on fix and flip residential projects. Founded in 2018 by Kirill Bensonoff and Alex Shvayetsky, New Silver leverages Kirill’s background in disruptive technologies and Alex’s extensive experience in real estate to provide a robust, data-driven lending platform. Their software accelerates, automates, and streamlines loan originations, using data to reduce default risk.
Being the first to market with a real-time pricing engine for investment property loans, allowing investors to get instant online loan approval and start making offers within minutes, New Silver’s mission is to enhance local communities by offering fast, convenient, and flexible capital.
New Silver Rates and Terms
| Loan Amount Offered | $100,000 to $5,000,000 |
| Interest Rate | 10% to 12.75% |
| Term | 12 months, with possible extensions |
| LTC | Up to 90% for purchase; Up to 100% for rehab costs |
| ARV | Up to 75% of ARV |
| Repayment Schedule | Interest-only during rehab, then interest and principal |
| Credit Check | Minimum 650 FICO. No hard credit pulls. |
| Typical Closing Time | 5 days |
| Points | 1.5% to 2% origination fee |
| In-person Appraisal? | Yes. For projects with 5+ units, a full commercial appraisal will be required |
| Prepayment Penalties | None |
| Personal Guaranty | Yes |
| Rehab Fee | $125 per draw |
| Lend to Foreign Nationals | No |
| Loan fees and closing cost | About $3000 |
| Non-recourse loan | Collateral is the property itself |
| States offered in | All except Alaska, Alabama, Idaho, Oregon, Nevada, Louisiana, North Dakota, South Dakota, Idaho, Vermont |
| Tax Return Required | No |
| Property Types | Residential 1 to 12 units, including single-family, condo, and townhomes; multifamily up to 50 units |
Why We’ve Chosen New Silver Lending
We’ve chosen New Silver lending because they have perks. Enough perks to pull you in and make you stay.
A major one is FlipScout — a tool designed to help investors find the most profitable properties in their target locations. This user-friendly app provides access to properties to flip and rent all over the United States. This game-changer of a tool offers features like: Sorting data according to user preferences, highlighting the most profitable investment properties first, calculating rehab costs, and notifying users about profitable properties.
New Silver also gives its borrowers instant proof of funds letter, discount for repeat borrowers, instant term sheet, and don’t have any junk fees hidden anywhere to siphon more money from you.
Lima One Capital
Starting out in 2011, Lima One Capital has funded over $9 billion in loans for real estate investors across the nation. They offer a range of core loan products, including New Construction loans, Fix and Flip loans, Rental property and portfolio loans, and Multifamily lending. Utilizing advanced technology for efficient reporting and controls, Lima One Capital ensures streamlined, transparent processes, providing clients with accurate and timely investment information.
Lima One Capital Rates and Terms
| Loan Amount Offered | $75k to $3M |
| Interest Rate | 8.7% to 10% |
| Term | 13 standard length or 19 Months |
| LTC | Up to 92.5% for purchase |
| ARV | Up to 70% of ARV |
| Repayment Schedule | Monthly interest only payments until the property is sold |
| Credit Check | Minimum 660 FICO. |
| Typical Closing Time | 10 to 30 days |
| Origination Fee (Points) | 1-1.75 pts depending on the loan amount and experience as a sponsor on title (sometimes they offer 0 point, in case of promotion) |
| Refinance options | Offers a 30-yr DSCR or a Bridge loan |
| Rehab Terms | Draws are dispersed upon completion of work, no limit on draw and no requirement to take a draw. |
| In-person Appraisal? | Full appraisal in person; $650 (SFR), $850 (2-4 Units) |
| Prepayment Penalties | No prepayment penalties; no exit or sale fees |
| Lend to Foreign Nationals | Yes, they do. |
| Loans fees and closing cost | $1350 underwriting and processing flat fee for single asset loans |
| Non-Recourse Loan | Full recourse (standard); Limited recourse option for select deals and clients |
| In-house Construction Management | Available |
| Requires Personal Guarantee | Yes |
| Properties Suited For | Townhouse, single-family, multi-unit up to 4; not for owner-occupied properties |
| Tax Information | Not required |
| States Offered in | 46 states (except Alaska, North Dakota, South Dakota, and Vermont) |
Why We Chose Lima One Capital
Right off the bat, Lima One Capital offers the best interest rates of all the lenders we have in the list, at an impressive minimum of 8.7%. Lima One Capital also scores points on customer satisfaction as they actively seek and prioritize customer feedback to drive business decisions and service improvements.
Park Place Finance
Park Place Finance is your nationwide partner for real estate investments, offering Fix and Flip, Bridge, and DSCR loans with a swift approval process and average close times of just 3-5 days. Their Fix and Flip loans are designed to fund 100% of renovation costs and close quickly, with 12-24 month terms and funding up to 90% of the project cost.
With 17+ years of lending experience and over $1 billion in loans funded, Park Place Finance excels in guiding first-time flippers through every step of the process. They provide competitive rates tailored to property location, borrower experience, and credit.
Park Place Finance Rates and Terms
| Loan Amount Offered | $100k to $3M |
| Interest Rate | 10.99% to 12.99% (depending on experience level) |
| Term | 6, 12 to 18 months |
| LTC | Up to 90% for purchase; Up to 95% for LTP (depending on experience level) |
| ARV | Up to 75% |
| Repayment Schedule | Monthly, Interest-only |
| Refinance Options | Rate-term and Cash-out available. |
| Typical Closing Time | 3 to 5 business days |
| Credit Check | Minimum 640 FICO. |
| In-person Appraisal? | In-house valuation ($500 – $800). Transfer of appraisal done by another lender is also accepted. |
| Points | 1% to 3% origination fee |
| Lend to Foreign Nationals | Yes, they do. |
| Prepayment Penalties | None |
| Personal Guarantee | Requires personal guarantee |
| Loans fees and closing cost | $3000 |
| States offered in | 47 states (not for Alaska, North Dakota, South Dakota) |
| Tax Return Required | No personal income verification required |
| Non-recourse loan | Full recourse loans |
| Rehab Draw (Fee) | Rehab is on a reimbursement basis. $250 per draw. |
| Property Types | Single Family Homes, Duplex, Triplex, Quadplex, Multi-Family (5+ Units), Condominiums, Townhouses |
Why We Chose Park Place Finance
Park Place Finance is an excellent choice for both new and experienced real estate investors. In fact, they position themselves as experts in handling first time flippers with an acclaimed 4,000 of their now-expert customers starting out with them. They also take it up a notch with their impressive closing time of 3 to 5 days (although it could extend to 7 days).
Starting the loan application process with Park Place Finance is straightforward. Investors can fill out an online form detailing the type of loan needed, the kind of property being financed, the stage of property identification, credit score, and contact information. Alternatively, they can speak to a representative over the phone to begin the process.
Comparison Table
| Terms | Kiavi | Mortgage Vintage | New Silver | Lima One | Park Place |
| Loan Amount ($) | 100k – 3M | 100k – 3.5M | 100k – 5M | 75k – 3M | 100k – 3M |
| Interest Rate (%) | 9.25 – 12 | 7.99% – 15.00 | 10 – 12.75 | 8.7 – 10 | 10.99 – 12.99 |
| Term (Months) | 12 to 24 | 12 – 18 | 12 – 24 | 13 – 24 | 6 – 12 |
| LTC (%);Rehab Max (%) | Up to 95;100 for rehab | Up to 70;75 for rehab | Up to 90;100 for rehab | Up to 75;100 for rehab | Up to 90;Up to 95 for LTP |
| Maximum ARV | 80% | 60% | 75% | 70% | 75% |
| Tax Return Required | Not required | Not required | Not required | Not required | Not required |
| Points | 2% to 3% | 2% | 1.5% -2% | 0% to 2% | 1% to 3% |
| Lend to Foreign Nationals | No | Yes | No | Yes | Yes |
| Minimum FICO | 650 | Not required | 650 | 660 | 640 |
Ranking the Best Fix and Flip Hard Money Lenders
1. Kiavi – 7.9
2. New Silver – 7.8
3. Lima One Capital – 7.6
4. Park Place Finance – 7.3
5. Insula Capital Group – 6.0
Kiavi and New Silver lead due to their fast processes, tech integrations, and borrower-friendly terms. Lima One Capital’s low rates are quite ggod with a very wide range of the loam amount, but slow speed affects its placement. If you are a first-time investor, Park Place Finance is the perfect lender for youstands out for first-time investors, while New Silver’s FlipScout offers unique value for seasoned flippers. Insula Capital Group loses ground primarily because of its longer loan approval and funding process, and the soft costs.
Methodology for Fix and Flip Loans
We graded these hard money lenders based on features that have a meaningful impact on borrowers seeking Fix and Flip loans, including interest rates, soft fees, closing speed, loan structure flexibility, and prepayment penalties.
We awarded bonus points if a lender offers 100% financing (covering both purchase price and rehab costs), high loan-to-cost (LTC) percentages, no minimum experience requirements, or lends to foreign nationals.
Our scoring method is broken down as follows:
- Interest rate: 30%
- Soft fees: 20%
- Closing speed: 25%
- Loan-to-value: 15%
- Customer Service/Transparency: 10%
We chose to focus on these core elements to highlight lenders that provide competitive rates and flexible terms while also accommodating diverse borrower profiles and needs. This scoring system ensures borrowers can find lenders that prioritize speed, cost efficiency, and tailored loan options, which are critical to successful Fix and Flip projects.
Wrap Up
There we have it! Some of the best lenders for fix and flip, each with tailored loan products, fast approvals, and investor-friendly terms to help investors in different stages of their flipping journey. From Kiavi with its swift financing with minimal paperwork to Park Place Finance with extensive support and quick closings, especially valuable for first-time flippers. Together, all these lenders provide comprehensive solutions to help investors maximize their success in the fix and flip market.
