Fix & Flip Loans in Connecticut
You’ve found a property with upside. The numbers work. Now you need a lender who can move fast enough to win the deal and fund both the purchase and the renovation.
The Project From the Video: George Washington's Sheep Farm
If Vito's video brought you here — that project is real, and it's ours. AFC is funding the renovation of George Washington's historic 1774 sheep farm in Watertown, Connecticut, in partnership with Cam Cottam at RE/MAX Rise. A 250-year-old property coming back to life is exactly the kind of deal we love to finance — and we fund projects like it for investors across Connecticut every month, whether it's your first flip or your fiftieth.
How investors make money flipping houses
You make your money when you buy. Find a property priced below its potential — an estate sale, a dated house, a distressed listing. Renovate it on a disciplined budget. Sell it at its new market value. Your profit is the gap between your all-in cost (purchase + rehab + carrying costs) and the sale price.
Illustrative example: buy at $300,000, put $75,000 into the renovation, and sell at $525,000. After roughly $45,000 in financing, carrying, and selling costs, that leaves about $105,000 of potential profit on a single project. Every deal is different — which is why we look at your numbers with you before you commit.
Where AFC comes in
Most banks won't touch a house that needs work — and slow financing loses deals. We lend our own money: up to 80% of the purchase and 100% of the renovation budget, capped at 65% of the after-repair value, funded as soon as 7 business days after approval so you can compete with cash buyers. And when the next property shows up before this one refinances, a bridge loan against the equity you have built closes it. You bring the deal and the work. Our team brings fast, reliable capital — from people who invest in real estate ourselves.
1 · Find & Buy Below Market
Estate sales, dated houses, distressed listings. Your realtor and our team can help you judge whether the numbers actually work.
2 · Renovate With a Plan
A line-item budget and a reliable contractor. We fund the rehab in draws as each phase completes, so the project keeps moving.
3 · Sell — or Rent & Refinance
Sell at the new value and take your profit, or keep it as a rental and refinance into a long-term DSCR loan.
Have a deal under contract? Get a term sheet.
Send us these four things and our team comes back with real numbers on your deal. Real terms back fast, no full application needed to start.
- 1Property address and the contract or signed offer.
- 2Purchase price and your closing date.
- 3Rehab budget, with a scope of work if you have one.
- 4ARV and exit plan: sell, or refinance into a DSCR rental loan.
We lend from our own capital: 89 bridge loans funded from our own fund since 2024, $38.2M total. Funding as soon as 7 business days after approval.
Send your dealGet Your Term Sheet
Tell us about the deal — purchase price, rehab budget, and target ARV. You'll get real terms back fast, not a runaround. Funding as soon as 7 business days after approval.
What Is a Fix & Flip Loan?
Short-term financing — typically 6 to 18 months — designed for investors who buy properties, renovate them, and sell for a profit. Payments are interest-only during the term, keeping carrying costs low while you work. Full terms and a representative example are in the disclosures at the bottom of this page.
Qualification is based primarily on the deal, not your personal income. We look at purchase price, rehab budget, and After Repair Value (ARV). If the deal makes financial sense, we can fund it.
Is a Fix & Flip Loan the Same as Hard Money?
Yes. "Hard money" is the industry name for a short-term loan that is underwritten on the asset — the property, the rehab budget, and the after-repair value — and funded by a private lender rather than a bank. That is exactly what we do. When the project includes a renovation, we call it a fix-and-flip loan: purchase plus rehab, interest-only, sized on ARV. When there is no rehab and you simply need to close before something else happens — a sale, a refinance, an auction deadline — it is a bridge loan. Same capital, same team, different shape.
What makes us different from most hard money lenders in Connecticut is that we lend our own money from our office in Monroe, CT. There is no outside committee and no capital partner to wait on: the person who prices your deal is the person who funds it, which is why a complete file can fund as soon as 7 business days after approval.
Who Is a Fix & Flip Loan Right For?
Experienced Flippers
Reliable funding for experienced house flippers. We look at track record and reward repeat investors with better terms.
First-Time Flippers
Solid plan and adequate capital? We’ve funded many first-time flippers. A strong deal with a realistic budget gets approved.
BRRRR Strategy Investors
Short-term financing before converting to a long-term DSCR loan. Buy, rehab, rent, refinance, repeat — see how the BRRRR method works step by step.
How Fix & Flip Loans Work at AFC
Submit Your Deal. Send us the address, purchase price, rehab budget, and ARV. Preliminary terms often the same day.
Term Sheet & Application. Review your preliminary terms, sign the term sheet, and complete a short application to lock the deal in.
Underwriting & ARV Appraisal. Credit, liquidity, and deal review, plus an as-completed appraisal to confirm the after-repair value.
Close Fast. Funded as soon as 7 business days after approval. Purchase funds disbursed at closing; renovation funds held in a draw account.
Renovate & Draw. As each phase of work completes, request a draw—we inspect and release the funds so your project keeps moving.
Exit. Sell the finished property for your profit, or refinance into a DSCR loan and keep it as a long-term rental.
What it actually costs: an example deal
Illustrative numbers on a Bridgeport two-family, so you can see every line before you submit a deal. Every project is priced on its own.
| Line | Example deal |
|---|---|
| Purchase price | $285,000 |
| Rehab budget | $85,000 |
| ARV (three comps) | $500,000 |
| Max loan: 80% of purchase + 100% of rehab | $228,000 + $85,000 = $313,000 |
| ARV cap check: 65% × $500,000 | $325,000 (not binding) |
| Cash to close: 20% of purchase | $57,000 |
| Origination: 2 points | $6,260 |
| Monthly interest-only at 11% (illustrative) on funds drawn | ~$2,090 at closing on $228,000; rises as rehab draws fund |
| Exit | Sell, or refinance into a DSCR loan at 75% of ARV = $375,000 |
Rates 10–12% depending on experience, leverage, and the deal. Illustrative example only; not a commitment to lend. All loans subject to credit and collateral approval.
Purchase price, rehab budget, ARV. Real terms back fast, no application required to start.
What You’ll Need to Submit Your Deal
The more of this you have ready, the faster we can issue terms. Don’t have everything yet? Submit anyway—we’ll help you fill in the gaps.
Borrower Documents
Entity Docs (LLC + EIN)
Your LLC operating agreement, articles, and EIN. We lend to entities, not individuals.
Proof of Funds & Reserves
Bank statements showing your down payment plus reserves for carrying costs.
Experience / Track Record
A short list of past flips or projects. New investors are welcome—terms just adjust.
ID & Credit Authorization
A government-issued ID and your authorization to pull credit for the guarantors.
What We Need on the Property
Property Under Contract
A purchase contract or signed offer showing the address, price, and key dates.
Scope of Work & Rehab Budget
A line-item renovation plan with your total rehab budget so we can size the loan.
ARV Comps
Recent comparable sales that support your after-repair value (ARV) estimate.
Contractor Bids
Written estimates from your contractor for the planned renovation work.
Frequently Asked Questions
What is After Repair Value (ARV) and how is it used?
ARV is the estimated market value of a property after all planned renovations are complete. We base the loan amount on ARV rather than the purchase price — lending up to 65% of ARV. AFC orders an as-is and after-repair appraisal to establish your ARV before closing.
Can first-time flippers get approved?
Yes. AFC works with first-time flippers. While experience helps, a strong deal, solid credit, and sufficient reserves can offset limited track record. AFC may require a larger down payment or co-sponsor on your first deal, and will guide you through the underwriting process step by step.
How does the renovation draw process work?
Renovation funds are held in escrow and released in draws as work is completed and inspected. You submit a draw request, an inspector verifies completion of that phase, and funds are released to your contractor. AFC coordinates the draw schedule to keep your project on timeline.
What credit score do I need for a fix and flip loan?
Most of our approvals have guarantor credit of 620 or better, but the deal matters more than the score — strong equity, reserves, or a solid track record can offset a thinner credit profile. We lend our own money and set terms deal-by-deal, so we can tell you quickly exactly what your profile qualifies for.
What is the typical loan term for a fix and flip loan?
Fix & flip loans are short-term bridge loans, typically 6–18 months. They are designed to cover the purchase and renovation period, after which you sell the property and repay the loan. AFC can extend terms for larger projects and will discuss exit strategy at the time of approval.
How quickly can AFC fund a fix and flip loan?
AFC can fund fix & flip loans as soon as 7 business days after approval — purchase funds at closing, rehab funds in draws as the work is completed. Speed is one of AFC’s core advantages: we lend our own money, process these loans in-house, and can commit quickly so you do not lose a deal to a slower lender. See our state-by-state guides to how fast a hard money loan can close in CT, MA, RI, NH, and VT.
What happens if my renovation goes over budget?
Cost overruns happen. AFC builds a contingency reserve into the construction budget (typically 10–15%) to cover unexpected costs. If overruns exceed the reserve, options include a scope reduction, a supplemental draw from your own funds, or a budget amendment reviewed by AFC. Communication early is key.
Can I refinance a fix and flip into a long-term rental loan?
Yes. This is the BRRRR strategy — Buy, Rehab, Rent, Refinance, Repeat. After renovating and stabilizing the property with a tenant, AFC can refinance you out of the fix & flip loan into a 30-year DSCR loan based on the property's rental income. AFC handles both legs of the transaction.
Are you a hard money lender in Connecticut?
Yes. AFC lends its own money on short-term, asset-based loans for investment properties, which is what "hard money" means. When the project includes a renovation we call it a fix-and-flip loan; when there is no rehab and you simply need to close before a sale or a refinance, it is a bridge loan. Either way the deal is underwritten on the property and the numbers, priced in-house in Monroe, CT, and funded by us.
Hard money vs. fix-and-flip vs. bridge — which one do I need?
If you are buying, renovating, and then selling or refinancing, you need a fix-and-flip loan: purchase plus rehab, interest-only, sized on the after-repair value. If you are buying before you sell, or before a refinance closes, and there is no rehab, you need a bridge loan. Once the property is stabilized and rented, the long-term take-out is a DSCR loan, which qualifies on the rent rather than your tax returns. All three come from the same team, so a deal can move from one to the next without changing lenders.
How fast can a hard money loan close in Connecticut?
As soon as 7 business days after approval, with a complete file: purchase contract, rehab budget and scope, ARV comps, entity documents, and proof of funds. Purchase funds are disbursed at closing; renovation funds are released in draws as each phase is inspected. Connecticut requires an attorney at closing and a title search, which set the floor on speed for any lender, so getting the file complete on day one is what actually decides the timeline.
Do you lend on flips outside Connecticut?
Yes. Hard money and fix & flip loans through AFC Credit Partners are available in five New England states: Connecticut, Massachusetts, Rhode Island, Vermont, and New Hampshire. Connecticut is home, and each of those states has its own closing rules, which is why we wrote a closing-timeline guide for each one (see Hard money guides below). Send us the address and the numbers and we will tell you the same day whether we can fund it.
Can I refinance out of the fix-and-flip into a rental loan without selling?
Yes, and this is the flip-to-hold or BRRRR exit. Once the renovation is complete and the property is leased, a DSCR loan refinances you out of the fix-and-flip loan based on the rent, typically at up to 75% of the appraised value, and the cash you pull out funds the next deal. There is no seasoning requirement with AFC: you do not have to hold title for a set number of months before the cash-out refinance, so the DSCR loan can close as soon as the rehab is done and the unit is rented. AFC handles both legs.
Fix & Flip Loan Requirements
Fix & flip loans are asset-based, meaning lenders focus primarily on the deal — the property's ARV, your renovation budget, and your exit strategy. AFC evaluates every deal individually.
Credit Score
620+ for the guarantors. Strong equity, reserves, or flipping experience can flex this — we price every deal individually.
Loan-to-ARV
Up to 65% of After Repair Value. AFC funds both the purchase and renovation budget within this limit.
Down Payment
Typically 10–30% of the purchase price depending on deal, credit, and experience level.
Loan Term
6–18 months. Interest-only payments during the renovation period. Extensions available for larger projects.
Property Types
Single-family, 2–4 units, condos, and small mixed-use. No owner-occupancy required.
Reserves & Experience
Liquid reserves covering 3–6 months of payments. Track record helps but first-time flippers are welcome.
Where We Lend
Our hard money and fix & flip loans are available in five New England states: Connecticut, Massachusetts, Rhode Island, Vermont, and New Hampshire. Connecticut is home, and each state closes a little differently, so we wrote a closing-timeline guide for each one below. Looking for a rental loan somewhere else? AFC is licensed in 17 states for DSCR loans.
Connecticut · Massachusetts · Rhode Island · Vermont · New Hampshire
Hard money guides
How fast a hard money loan actually closes, state by state, plus the investor guides that go with this page.
- How fast can a hard money loan close in Connecticut?
- How fast can a hard money loan close in Massachusetts?
- How fast can a hard money loan close in Rhode Island?
- How fast can a hard money loan close in New Hampshire?
- How fast can a hard money loan close in Vermont?
- Bridge loans for real estate investors in Connecticut — buying the next one before this one refinances.
- The BRRRR method explained — buy, rehab, rent, refinance, repeat.
- DSCR loan requirements in Connecticut — the refinance that gets you out.
Have a Deal? Get Your Term Sheet.
Send us the deal. We’ll give you terms — often the same day.
Submit Your Deal