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, closing in as little as 7 days so you can compete with cash buyers. 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.
Get 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 in as little as 7 days.
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.
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.
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. As few as 7–14 days. 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 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 typically close fix & flip loans in 7–14 business days. For time-sensitive acquisitions, we can move faster with a complete file. Speed is one of AFC’s core advantages — we process these loans in-house and can commit quickly so you do not lose a deal to a slower lender.
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.
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
AFC Mortgage Group finances fix & flip projects for real estate investors across 17 states. Whether you are flipping your first property in Connecticut or scaling a portfolio in multiple markets, AFC is built for this.
Connecticut · New York · New Jersey · Pennsylvania · Massachusetts · Rhode Island · Florida · Texas · California · Colorado · North Carolina · South Carolina · Georgia · Ohio · Michigan · Illinois · Virginia
Have a Deal? Get Your Term Sheet.
Send us the deal. We’ll give you terms — often the same day.
Submit Your Deal