Most investors start by comparing rates. But lender requirements matter just as much. Some lenders publish instant estimates or rate ranges upfront, while final pricing and approval still depend on factors like credit score, experience, liquidity, and deal strength. This guide breaks down what six leading lenders actually require before approving fix and flip funding.
Every requirement is sourced directly from each lender’s own product page and published borrower resources.
Disclaimer: All requirements listed in this post are sourced from each lender’s published materials as of the date of this writing. Requirements are subject to change. Verify directly with each lender before applying.
What Fix and Flip Lenders Actually Evaluate
Fix and flip lenders are not banks. They evaluate deals in a specific order: deal quality first, then execution experience, then liquidity, then credit. This post focuses on the borrower-side requirements: the six criteria that determine whether you qualify for fix and flip funding, independent of the deal itself.
For the deal-side evaluation framework, see our fix and flip loan requirements checklist.
Six criteria covered in this comparison: minimum FICO, experience requirement, minimum liquidity, entity structure, maximum leverage, and documentation required.
For how lenders compare on closing speed, capital source, draw process, and geographic coverage, see our fix and flip lenders guide.
Fix and Flip Loan Requirements Compared: 6 Leading Lenders
New Silver: Fix and Flip Loan Requirements
New Silver clearly outlines what borrowers need before applying, including credit expectations, closing documents, and funding requirements.
- Minimum FICO: 650 with 2+ completed projects. 700+ for investors with fewer than 2 completed projects. New Silver addresses this directly in its borrower resources: less-experienced investors face a higher credit threshold, though a co-borrower can be added to meet the requirements.*
- Experience: No hard minimum. FICO threshold rises for less experienced borrowers.
- Minimum liquidity: A liquidity statement is required showing sufficient funds to close and begin construction; a bank statement, retirement account, or similar documentation is accepted. A specific minimum amount is not published.
- Entity structure: LLC operating agreement required at closing. Business purpose loans only; non-owner occupied. Confirm your LLC is active and your operating agreement is current before applying. New Silver requires this document at closing, not after.
- Maximum leverage: Up to 90% LTC. Up to 100% of construction costs. Up to 75% ARV.
- Documentation required: Purchase and sale contract, construction budget, liquidity statement, proof of previous experience, if any, LLC operating agreement, and proof of insurance. New Silver’s borrower resources confirm no income verification is required: no W2, paystubs, or tax returns.
*FICO thresholds for less experienced borrowers and co-borrower eligibility are addressed in New Silver’s published borrower resources. Verify directly with New Silver, as requirements may vary by deal.
RCN Capital: Fix and Flip Loan Requirements
RCN addresses borrower requirements directly in their published materials; their experience tier grid and documentation list are both publicly available before an investor submits anything.
- Minimum FICO: 650 for most borrowers. A 720+ FICO is required for certain high-leverage loan tiers, including Moderate Rehab loans with up to 100% purchase financing and 100% rehab financing.
- Experience: No minimum. RCN addresses its tier structure directly in its published materials. The four tiers based on flips completed in the last 3 years are 0 flips, 1-4 flips, 5-10 flips, and 10+ flips. Tier determines leverage band.
- Minimum liquidity: Bank statements required as proof of funds. A specific minimum amount is not published.
- Entity structure: RCN’s published frequently asked questions confirm that business entity documentation is required at underwriting. Specific entity type not published. Confirm your entity documents are current before submitting.
- Maximum leverage: Up to 95% of purchase price + 100% of rehab costs, not to exceed 75% ARV for experienced tier. New investors capped lower per the published tier grid.
- Documentation required: RCN addresses this directly in their frequently asked questions. They list application, authorization to run credit report and background check, bank statements, property appraisal, renovation estimates, business entity documentation, copies of leases if applicable.
Stormfield Capital: Fix and Flip Loan Requirements
Stormfield reviews each deal holistically as a balance sheet lender; their published qualification checklist covers both the borrower-side and deal-side preparation in detail.
- Minimum FICO: 640. Credit reviewed holistically. Borrowers below 640 are encouraged to reach out to discuss options directly.
- Experience: No minimum. Stormfield works with first-time investors. Strong credit and liquidity matter more than deal count at the first meeting.
- Minimum liquidity: Stormfield requires borrowers to show they can cover the down payment, reserves, and scheduled interest. No income threshold is published; the asset and the borrower are evaluated together.*
- Entity structure: LLC or Corporation required. No individual borrowing. Personal guarantees required in almost all cases. Confirm your entity is properly formed and your personal guarantee is in order before submitting. Stormfield requires both in almost every deal.
- Maximum leverage: Up to 92.5% LTC. Up to 75% LTV. Up to 90% LTPP. Lends based on the lower of LTC or LTV.
- Documentation required: Stormfield’s published qualification checklist covers this in detail: signed purchase agreement, itemized contractor estimates with 10% contingency buffer, comparable sales data supporting ARV, prior closing statements, and purchase contracts if experienced. Documents uploaded directly through Stormfield’s online portal.
*Liquidity requirements and documentation details are covered in Stormfield’s published qualification checklist. Verify specific requirements directly with Stormfield.
Kiavi: Fix and Flip Loan Requirements
Kiavi evaluates both the borrower and the property when underwriting fix and flip loans. The lender is known for flexible experience requirements, high leverage options, and a process designed for repeat investors as well as first-time flippers.
- Minimum FICO: Kiavi has a minimum score. It’s published borrower guidance references “typically above 650” for fix and flip loans.
- Experience: No minimum. First-time flippers are explicitly eligible. Repeat borrowers access a reduced rate, reduced origination fee, and faster processing.
- Minimum liquidity: Cash required upfront to close, even at up to 95% LTC. Specific minimum is not published.
- Entity structure: Required in DC, FL, MN, NJ, OH, OK, TX, and VA. Individuals, LLCs, corporations, partnerships, and trusts are accepted in other states. If you are investing in one of these states, confirm your formation documents are ready before applying.
- Maximum leverage: Up to 95% LTC / up to 80% ARV / 100% of rehab costs.
- Documentation required: Purchase agreement, business entity documents where applicable, scope of work, and proof of insurance. No income or employment verification. No third-party appraisal required.
*Kiavi’s FICO minimum is referenced in their published borrower guidance as typically above 650. The exact number is not confirmed on their product page. Verify directly with Kiavi.
Lima One Capital: Fix and Flip Loan Requirements
Lima One is the only lender in this comparison with a published minimum experience requirement for fix and flip funding. They are also one of the few lenders that explicitly count exits financed by other lenders toward your experience record; your full investment history matters here, not just your Lima One history.
- Minimum FICO: 660.
- Experience: Minimum one exit of an investment property in the last 36 months. Eligible exits include a flip, sale, or refinance of a property owned by the borrower. Deals financed outside Lima One also count. More experience may qualify borrowers for higher leverage and lower rates.
- Minimum liquidity: Max exposure set at 7x liquid assets. Liquidity is reviewed as part of underwriting. No income or tax return verification required.
- Entity structure: Not published as a requirement on Lima One’s product page or detail page.*
- Maximum leverage: Up to 95% LTC and 75% LTV. 100% of rehab budget covered.
- Documentation required: Lima One’s borrower resources confirm that underwriting and experience verification documents are required at submission. Specific list not publicly disclosed. Appraisal required.
*Entity structure requirement not published on Lima One’s fix-and-flip product page. Verify directly with Lima One Capital before structuring your deal.
Easy Street Capital: Fix and Flip Loan Requirements
Easy Street sets a low FICO floor and asks for no prior experience. First-time flippers are explicitly welcome.
- Minimum FICO: 600. Easy Street’s published borrower resources note that credit requirements may vary based on deal structure, experience level, and overall project strength.*
- Experience: No minimum. First-time flippers are explicitly eligible.
- Minimum liquidity: Easy Street’s published borrower resources confirm a minimum down payment of approximately 10% toward the purchase in most cases. Reserve requirement beyond the down payment is not published.
- Entity structure: Not published as a requirement on Easy Street’s product page or borrower resources. Verify directly with Easy Street before structuring your deal.*
- Maximum leverage: Up to 93% LTC, including 100% of renovation costs. Maximum LTV 75% based on in-house valuation.
- Documentation required: Specific document list not publicly disclosed. Income verification requirements not published.
*FICO minimum may vary per Easy Street’s published borrower resources. Entity structure and income verification requirements are not publicly disclosed; verify directly with Easy Street Capital.
Fix and Flip Loan Requirements at a Glance
| Lender | Min FICO | Experience Required | Entity Required | Max LTC |
|---|---|---|---|---|
| New Silver | 650 (700 if <2 projects) | None (FICO threshold rises) | LLC required | 90% |
| RCN Capital | 650 (720 for 10+ flip tier) | None (tier affects leverage) | Required (type not specified) | 95% purchase + 100% rehab |
| Stormfield Capital | 640 | None | LLC or Corp required | 92.5% |
| Kiavi | ~650 (not confirmed on product page) | None | State-dependent | 95% |
| Lima One Capital | 660 | 1 exit in the last 36 months | Not published | 95% |
| Easy Street Capital | 600 | None | Not published | 93% |
All figures sourced from each lender’s published product pages and borrower resources as of the date of this writing. Requirements are subject to change without notice. Verify directly with each lender before applying.
How to Use This Comparison Before You Apply
Requirements narrow the field before the deal conversation begins. Knowing which lenders you qualify with on FICO, entity structure, and liquidity before pursuing fix and flip funding saves time and protects your credit. The lenders with the most published documentation requirements are also the easiest to prepare for; you know exactly what to assemble before you submit.
If you want to see where your deal lands at Stormfield before the first conversation, the instant quote tool at app.stormfieldcapital.com/prequal gives you loan amounts, purchase coverage, and rehab funding estimates with no hard credit pull.
Frequently Asked Questions About Fix and Flip Funding and Loan Requirements
Can I get fix and flip funding as a first-time investor?
Yes. Five of the six lenders in this comparison have no minimum experience requirement. Lima One is the only lender that requires at least one prior exit in the last 36 months. For first-time investors pursuing fix and flip funding, FICO score and liquidity carry more weight than experience at most lenders here. Requirements vary by lender and deal; verify directly before applying.
Do fix and flip lenders require an LLC?
It depends on the lender. New Silver requires an LLC operating agreement at closing. Stormfield requires an LLC or Corporation; no individual borrowing permitted. Kiavi requires an entity in DC, FL, MN, NJ, OH, OK, TX, and VA only. Lima One and Easy Street do not publish an entity requirement. RCN requires business entity documentation, but does not specify the entity type. Verify entity requirements directly with each lender before structuring your deal.
What credit score do I need for fix and flip funding?
The lowest published minimum in this comparison for fix and flip funding is 600 at Easy Street Capital. Most lenders in this comparison sit between 640 and 660. New Silver’s threshold rises to 700 for investors with fewer than 2 completed projects. Kiavi’s minimum is referenced in their published borrower guidance as typically above 650, but is not confirmed on their product page. Credit requirements may vary based on deal strength and experience level; verify directly with each lender.
Do fix and flip lenders verify income?
Most do not publish a hard income requirement. New Silver’s borrower resources confirm no income verification is required: no W2, paystubs, or tax returns. Stormfield requires the borrower and/or asset to demonstrate the ability to pay the scheduled interest but sets no income threshold. Lima One requires no income or tax return verification. Easy Street’s income verification requirements are not publicly disclosed. Verify directly with each lender before applying.
