Fix and Flip Loans Atlanta

Yes, but first-time flippers usually get a lower loan-to-cost (LTC). Lenders on BiggerPockets have said new borrowers may get 70% to 75% of the purchase. A contractor license or past rehab can count as experience.

You need proof of funds for the down payment, the after-repair value (ARV), a scope of work, your credit score and an exit strategy. Lenders on BiggerPockets have said first-timers may need 20% to 30% down.

Plan for closing costs, points and an interest reserve. Lenders on BiggerPockets have said some want up to 6 months of interest in the bank. Ask each lender for a written term sheet.

Yes, most fund repairs through a draw schedule. You usually pay for each stage first, then a draw inspection releases the money. Ask how long draws take, since a slow draw stalls the job.

Compare the total cost: rate, points and fees. As a dated example, Lendersa’s table for the week ending June 20, 2026 showed 8.35% to 13.21% and 1.45 to 3.79 points. On a $200,000 loan, 2 points is $4,000.

Often within days or weeks, depending on the appraisal, the title search and your insurance binder. Having your LLC papers and scope of work ready before you make an offer speeds it up.

Your flip lender wants 2 months of bank statements to verify proof of funds and see how long the money has been there, called seasoning. Be ready to explain any large deposit.

Many lenders cap the loan at a percent of the appraised ARV, so a low appraisal shrinks the loan. You can bring more cash, renegotiate the price, or challenge the comps.

Past the maturity date, you need an extension, and most lenders charge an extension fee. Lendersa lists 12 to 24 months as typical terms. Get the extension terms in writing first.

Both. Wikipedia describes hard money as asset-based, so the property’s value sets the loan-to-value (LTV). Your credit score and track record still affect the rate and points.