Fix and Flip Loan Documents: What Do You Need to Apply?

You found a property that pencils out. Now the clock is running, and the fastest way to lose time is to scramble for paperwork after you are under contract. Knowing exactly which documents a fix and flip lender needs, and having most of them ready before you make an offer, is one of the simplest ways to keep a deal on track. Here are the fix and flip loan documents to have ready.

This checklist covers the documents typically needed for a fix and flip loan, why lenders ask for each one, and how to prepare a clean file. Exact requirements vary by lender and by deal, so treat this as a starting point and confirm the final list with your lender.

Fix and Flip Loan Documents: Quick Checklist

• Signed purchase contract, with all addenda
• Assignment contract (on wholesale deals)
• Line-item scope of work and rehab budget
• Property details and photos
• Entity documents for your LLC or other business entity
• Government-issued photo ID for each owner of the borrowing entity
• Credit authorization
• Proof of funds for down payment, closing costs, and reserves
• Track record, if you have one (optional for our program)
• Title commitment and insurance information (usually gathered during processing)

Requirements can vary from deal to deal. We’ll confirm the specific requirements for your deal on your first call.

Deal Documents

Purchase contract

Underwriting starts with the fully executed purchase contract. It establishes the purchase price, which drives the loan-to-cost calculation, and the closing date your lender is working toward. Include every page and addendum, signed by all parties.

Assignment contract on wholesale deals

If you are buying from a wholesaler, your lender needs the wholesaler’s assignment contract in addition to the underlying purchase contract. The lender will review both to understand the full chain of the deal, including the original price and the assignment fee. Ask the wholesaler for both documents as soon as you agree to terms.

Scope of work and rehab budget

Your scope of work tells the lender what you will do to the property and what it will cost. Because our fix and flip program can fund up to 100% of the rehab budget, this document directly sizes the renovation portion of your loan. It is also usually the basis for the draw schedule. With us, you request draws through the borrower portal using our SNAP DRAWS program; once our team reviews and approves a request, funds are released to you within 24–48 hours.

A strong scope of work is broken down by line item, such as:

• Demolition and debris removal
• Roof, windows, and exterior
• Electrical, plumbing, and HVAC
• Kitchen and bathrooms
• Flooring, drywall, and paint
• Permits and fees
• Contingency

Use realistic numbers. An underfunded budget is a risk to you as much as to the lender.

Property details and photos

Provide the address, property type, unit count, and current photos. If you have comparable sales supporting your after-repair value (ARV), include them. Our total loan is capped at 75% of ARV, so a well-supported value estimate helps everyone set expectations early. The property’s value is verified as part of underwriting.

Borrower and Entity Documents

Entity documents

Our fix and flip loans require an entity borrower, such as an LLC. Expect to provide documents like:

• Articles of organization or certificate of formation
• Operating agreement showing ownership
• EIN confirmation letter from the IRS
• Certificate of good standing

We’ll confirm the specific requirements for your deal on your first call. If you have not formed your entity yet, do it before you start making offers.

ID and credit authorization

Each owner of the borrowing entity typically provides a government-issued photo ID and authorizes a credit check. Our fix and flip loans are full recourse. At the pre-qualification stage, we use a soft credit pull, so there is no impact to your credit. Our minimum FICO for fix and flip loans is 660; scores below 660 are subject to lender approval.

Proof of funds

Even with financing of up to 90% of the purchase price, you will bring cash to closing for the remaining purchase price and closing costs, and it is smart to keep a cash cushion for surprises during the rehab. Bank or investment account statements are a common way to show available funds.

Track record (optional)

Our fix and flip program has no minimum experience requirement, so first-time flippers can apply. If you have completed projects, a simple list with addresses, purchase and sale prices, and dates can still help the lender understand your experience.

Closing Documents

Once the loan is moving toward approval, a few more items come together, usually with help from the lender and title company:

• Title commitment: confirms ownership and identifies liens or issues that must be cleared.
• Insurance: a policy appropriate for a property under renovation, naming the lender as required.
• Closing statement and loan documents: prepared for signing at closing.

Check Eligibility Before You Gather Documents

Paperwork will not help if the property or loan does not fit the program. Before you go further, confirm:

• The property is a non-owner-occupied investment property
• It is an attached or detached single-family home, 2–4 units, a townhome, or a warrantable condo
• It is not rural; rural properties generally do not qualify
• The loan amount falls between $50K and $3M
• Foreign national borrowers are not from a country on the ineligible country list

You can review the full terms on our loan programs page.

Tips for a Clean Loan File

1. Keep a digital folder for each deal, with clearly named files.
2. Store your entity documents in one place so you can reuse them on every loan.
3. Send the full contract, not screenshots or partial pages.
4. Update your scope of work if your contractor’s bid changes.
5. Answer lender questions quickly and completely.

For more ways to tighten your timeline, see how to close faster on an investment property.

Frequently Asked Questions

Do I need tax returns for a fix and flip loan?

Fix and flip loans are generally underwritten around the deal, the property, and the borrower’s credit rather than personal income alone. Document needs vary by deal, and we’ll confirm exactly what we need for yours on your first call.

Can I get a fix and flip loan with no experience?

Yes. Our fix and flip program has no minimum experience requirement. Approval still depends on the deal, your credit, and full underwriting.

Why does the lender need the wholesaler’s assignment contract?

On a wholesale deal, the lender needs to see the full transaction, including the original purchase price and the assignment fee. Underwriting requires both the purchase contract and the assignment contract.

Can I apply in my personal name?

No. Our fix and flip loans require an entity borrower, such as an LLC, and the loans are full recourse.

This article is for general informational purposes only and is not an offer or commitment to lend. All loans are subject to underwriting and approval, and terms are subject to change.