Getting Fix and Flip Loans with bad credit can be a difficult task. Banks may turn you away or make the lending process extremely complicated. This poses a big problem for flippers, who are in need financing quickly after closing a deal on a property that they want to fix up and close in a narrow timeframe.

If you want to get a fix and flip loan with bad credit, that’s usually where hard money lenders come into play. Hard money lenders are able to provide funding within weeks, not months. The downside to taking a hard money loan is that you have to find a reliable lender that you can trust to stick with you through the process. Furthermore, hard money loans usually imply a much higher interest rate and points around 2-6% depending on the lender. Bad credit may increase the risk profile for lenders and thus increase the interest rate further.

Therefore, if you decide to go with the hard money lending there’s a couple of things you may want to prepare in advance to look presentable to lenders. Having information collected such as rehab budget, ARV and proposed closing date may alleviate the perceived risk profile and help you secure a good deal. Additionally, it will help you get funds much faster as the lender will quickly have all the info at hand and be able to give you terms for the loan you are seeking.

For the unexperienced flipper, we’ve provided a small introduction to Fix and Flip Loans below.
Fix and Flip Loans

We’ve also compiled basic info of how a Fix & Flip Line of Credit works.
Fix and Flip Line of Credit

If you have a FICO that is at least 600, we will try and help find a lender for you. Use the apply button below to take a 30 second application.
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Best of Luck with your Fix & Flip project!