Skip to content
Rebuild Detroit

Popular in Metro Detroit

Call (888) 471-3135

Funding for your flip

Get approved for funding while you search

Most first time investors wait to look until the money is sorted, or find a house and then scramble for a loan. Here both happen at once, and knowing your number makes your picks sharper. Every approval is subject to lender approval.

Start with no cost See how the loan fits the numbers

The rehab loan on the sample

Purchase and rehab
$110,000
The loan
$93,500
Your down payment
$16,500
Points at closing
$1,870
Interest for 5 months
$4,675

Planning terms for a 3 bed brick bungalow on detroit's east side. Every loan is subject to lender approval, and the lender sets the real terms.

How funding works with us

It starts the day you sign up and runs while you search. Every approval is subject to lender approval.

  1. 1

    Answer five funding questions

    You

  2. 2

    Matched with a lender for your project

    Our lending team, within 24 hours

  3. 3

    Send the lender your documents

    You

  4. 4

    Approved for funding

    Our lending team

The two loans a project can meet

Worked on a 3 bed brick bungalow on Detroit's east side. These are the terms the pro forma plans with; your lender sets your real ones.

The rehab loan, to buy and fix it

Purchase and rehab $65,000 for the house and $45,000 for the rehab
$110,000
The loan 85% of the purchase and rehab, a usual share for a fix and flip lender
$93,500
Your down payment The 15% the loan leaves
$16,500
Points at closing 2% of the loan
$1,870
Interest for 5 months 12% a year, paid while you own it
$4,675

The cash-out refinance, for a BRRRR

Value after the rehab From the sales of fixed up houses near it
$165,000
The new loan 75% of the value, a usual reach for a DSCR cash-out refinance
$123,750
Pays off the rehab loan
$93,500
Cash back to you $123,750 less the $93,500 it pays off
$30,250
The new payment 7.8% over 30 years, paid from the rent
$887

What lenders usually weigh

  • The deal

    The purchase price, the rehab budget and the value after the rehab. A house bought under the 70% rule is easier to fund.

  • Your cash

    Enough for the down payment, the costs and some in reserve. Lenders ask to see the bank statements.

  • Your credit

    Many fix and flip lenders weigh it less than a mortgage lender does, but it still counts. Our credit builder helps at no cost.

  • The team

    Experience matters. A first time investor with an experienced team behind the rehab and the sale reads very differently to a lender.

Credit needs work? The credit builder gives you a step by step plan at no cost, while you search. Rebuild Detroit does not charge for credit building and does not promise any change to your credit score.

Questions about funding

Am I sure to be approved?

No. Every approval is subject to lender approval. We match you with a lender for your project and help you send what they ask for; the lender decides and sets the terms.

Can I get funded on my first flip?

Many fix and flip lenders fund first time investors when the deal is sound and an experienced team runs the work. Whether yours will is the lender's decision.

Do I have to wait for funding before I search?

No. Search now, get approved at the same time, or just search for now. Once you are approved, your AI picks match what you can buy.

Do you pull my credit?

Yes, when you move to funding: our licensed mortgage partner runs a soft credit check, which does not affect your score, and tells you before it runs. Signing up and the credit builder never check your credit.

What rates are in the pro forma?

We plan with 12% a year and 2% in points on the rehab loan, and 7.8% on a refinance. Your lender sets your real terms, and the analyzer updates when you know them.

Everything in Done For You Flips

Across Rebuild Detroit

Keep reading Credit builder A step by step credit plan at no cost

Start with no cost
Call Start with no cost