Investors searching fix and flip loan requirements, hard money loan requirements, and fix and flip loan down payment need a clear approval checklist — this page is the canonical requirements reference. For maximum leverage and no-money-down structures, see 100% financing — not duplicated here.
Jaken Finance Group funds fix and flip nationwide — all 50 states. Rates: 8.99%–13.5% interest-only, close in 7–10 business days.
Compare: fix and flip for beginners · hard money nationwide · approval process deep dive
Requirements at a glance
| Requirement | Standard | Notes |
|---|---|---|
| Occupancy | Non-owner-occupied only | Business-purpose |
| Property condition | Distressed / value-add | Not turnkey retail |
| ARV support | Documented comps | 3+ recent sales, same product type |
| Rehab scope | Line-item contractor bid | Licensed GC preferred |
| Exit strategy | Sale or refi defined | Timeline 6–12 months |
| Credit | Reviewed — flexible on select programs | Tier affects leverage |
| Liquidity | Closing costs + reserves + earnest | Even at high LTC |
| Experience | Tiered — not always required | Affects max leverage |
What gets declined — common rejection reasons
| Red flag | Why lenders pass |
|---|---|
| ARV comps don’t support margin | Weak comp set or stick-built comps on manufactured |
| Rehab scope missing line items | Lump-sum budgets without contractor bid |
| Thin spread | All-in cost too close to ARV — no room for overrun |
| No liquidity for carry | High LTC but zero reserves for interest + utilities |
| Illegal conversion / zoning | Unpermitted ADU or commercial use on SFR |
| Occupied with no eviction plan | Timeline risk on flip exit |
| Environmental | Mold remediation without protocol |
Approval timeline — what happens after you submit
| Day | Milestone |
|---|---|
| 1–2 | File intake — contract, scope, comps, bank statements |
| 2–4 | ARV review — lender validates comp support and margin |
| 3–5 | Term sheet — rate, LTC, points, conditions |
| 5–8 | Title + insurance ordered |
| 7–10 | Close — first draw typically at funding |
Draw after close: fix and flip draw process guide
Leverage by experience (summary)
Full leverage tiers and gap-funding structures live on 100% financing — summary only:
| Experience | Typical max LTC | Down payment |
|---|---|---|
| First-time | 80%–85% | 15%–20% |
| 3–5 deals | 90% | ~10% |
| 5+ deals, strong file | Up to 100% LTC | See 100% guide |
No money down configurations: fix and flip no money down explained
ARV and leverage caps
| Metric | Cap |
|---|---|
| ARV ceiling | 75% of after-repair value |
| Rehab funding | 100% of documented scope |
| Loan amount | $75K–$1.5M+ on qualified files |
| Term | 6–12 months |
LTV/LTC guide: understanding LTV and LTC
Document checklist
| Document | Purpose |
|---|---|
| Purchase contract | Price, timeline, assignment terms |
| Scope of work | Line-item rehab budget |
| Contractor bid(s) | Licensed GC preferred |
| ARV comps | 3+ recent sales — match property type |
| Bank statements | 2–3 months — reserves |
| Entity documents | LLC operating agreement if applicable |
| Insurance quote | Builder’s risk / hazard |
| ID + guarantor info | Personal guarantee typical |
Credit policy
Jaken uses credit-flexible, asset-based underwriting — not minimum FICO gates like banks.
| FICO band | Typical impact |
|---|---|
| 740+ | Best leverage — first-time may hit 80% LTC |
| 680–739 | Standard tiers |
| 600–679 | Lower leverage — strong ARV required |
| Below 600 | Select programs — 500 credit hard money |
Property types accepted
| Type | Fit |
|---|---|
| SFR | Primary |
| 2–4 unit | Yes |
| Townhouse / condo | Case-by-case — HOA rules |
| Manufactured on land | MH flip program |
| REO / bank-owned | REO financing guide |
| Auction (courthouse/online) | Auction property guide |