Fix and Flip Loan Rates: Benchmarks, Rate Drivers, and Total Cost Data of 2026

Published fix and flip starting rates range from 7.25% to 9.25% depending on the lender. Actual rates vary by borrower track record, loan-to-cost, property type, and deal quality. The spread between a lender's advertised floor and what a given borrower actually receives can be 2 to 5 percentage points.

This report pulls from two distinct datasets with different time horizons. Lender rates, financing coverage limits, and closing timelines are current as of June 2026, pulled directly from each lender's product page. Market benchmark data reflects ATTOM's most recently published full-year figures, which cover through 2025. ATTOM's 2025 annual home flipping report was released in March 2026; Q1 2026 market data had not been published at the time of this research.

Fix and Flip Loan Rates Benchmarks by Lender

The table below captures published rate parameters, financing coverage limits, and typical closing timelines for seven lenders as of mid-2026.

Fix and Flip Loan Rates Benchmark Chart

Starting rates reflect best-case pricing for the most qualified borrowers on the strongest deals in the best markets. Rates are as of June 2026 and subject to change. Verify current terms directly with each lender before making any financing decision.

Published floors are not quotes

Lima One's 7.25% floor applies to borrowers with a documented record of multiple completed flips in the prior 36 months. Most active investors should expect to land above any lender's advertised floor.

The fastest-closing lenders use proprietary valuation models

Easy Street Capital and Kiavi both close in under a week in part because they do not require third-party appraisals. In-house valuation models cut out the 7 to 10 business day appraisal delay that extends timelines at lenders like Lima One and RCN Capital.

Higher financing coverage does not automatically mean a higher rate

Lima One offers 95% LTC at a 7.25% starting rate because it prices primarily on borrower experience. Kiavi offers 90% LTC at 7.75% through a machine learning model that weighs more than 20 inputs. Financing coverage is one variable, not the primary driver.

What Drives Your Rate Above the Published Floor

Every lender weighs its pricing inputs differently, but six variables consistently move a borrower's rate above the starting point. Knowing which factors apply before submitting an application gives you a clearer picture of what rate is realistic, and which to address first.

Fix and Flip Rate Drivers and Typical Rate Impact:

These variables compound

An investor combining a high LTC ratio, limited documented experience, a heavily distressed property, and a vague exit plan can land 3 to 5 points above a lender's published floor. The starting rate is the benchmark for the best possible combination of all six inputs at once.

Experience is the most consistent pricing lever

Lima One, RCN Capital, Easy Street, New Silver, and Stormfield Capital all use flip count or documented experience as a pricing input. Kiavi feeds experience into its machine learning model alongside 20-plus other factors. At every lender in this comparison, more documented exits means a stronger rate position.

Credit matters less than it does for conventional loans

Private lenders are primarily asset-based, meaning the property and exit strategy drive approval.Credit profile typically shifts the rate within a range rather than determining eligibility. Most active private lenders begin reviewing files at 620 to 640 FICO, and some have no stated minimum.

Investors who plan to hold rather than sell after the rehab have to consider other financial factors. DSCR loans price the deal on rental income, not the borrower's personal income or flip track record.

Total Cost of Capital: A $400,000 Fix and Flip Scenario

The total cost of a fix and flip loan includes origination points, interest carry, and any draw or inspection fees. A 9.5% loan with 2 origination points can cost more than a 10% loan with 0.5 points on a six-month project. The table below models four rate scenarios on a $400,000 loan held for six months, consistent with the national average flip timeline.

Total Cost of Capital on a $400,000 Fix and Flip Loan, 2026 (6-Month Hold)

Calculations assume interest-only payments on the full loan amount for 6 months. Draw fees, extension fees, and closing costs are not included. Actual costs will vary by lender and deal structure.

The gap between floor and ceiling is $16,500 on a $400,000 loan: Against a national average gross profit of approximately $65,981 per flip (ATTOM, full-year 2025), the difference between a 7.25% floor scenario and a 12.5% ceiling scenario represents roughly one-quarter of the average deal's total profit. Rate is not a footnote in the deal economics.

Points carry more weight on shorter holds: Two origination points on a $400,000 loan held for six months equals an effective annualized fee of 4% on top of the stated interest rate. The shorter the hold, the more points matter relative to the rate itself.

Closing speed is part of the cost calculation: A deal closed three days ahead of a competing buyer at a slightly higher rate can still produce better economics when the alternative is losing the property entirely. In New York City and Northern New Jersey, where acquisition windows are short and cash buyers are active, a slow lender often costs more than a higher rate.

Fix and flip financing is one option. The alternatives each carry their own cost structure and timeline.

Fix and Flip Market Benchmarks: 2022 Through 2025

The table below aggregates ATTOM's annual home flipping data for the four-year period most relevant to active investors.

U.S. Fix and Flip Market Benchmarks — 2022–2025

Gross profit recovered in 2024 after two years of margin compression

The 2022 peak in annual flip volume coincided with rising rate pressure that weighed on margins through 2023. By 2024, average gross profit per flip rose to $77,000, demand picked up and inventory moved faster in active markets.

The share of financed flips has declined as cash competition increases

In 2022, approximately 41% of flips carried financing. By 2024 that number dropped to 37%, reflecting increased cash buyer activity in core markets.

Volume is down from the 2022 peak, but the market is still active

Annual flip volume dropped from 407,417 properties in 2022 to 297,045 in 2025. That reflects higher capital costs and tighter margins.

Rate pressure has started to ease

With the average 30-year fixed rate stabilizing in the 6.5% range as of early June 2026, the rate pressure on investment capital costs has begun to come down compared to the 2023 peak. In the New York and New Jersey metro area, where acquisition prices run higher than most of the country and deal velocity is fast, the advantage of a lender who commits within 24 hours is more pronounced than in slower regional markets. For a broader look at how rate shifts are moving the market, read our breakdown of interest rates and what they mean for real estate investors.

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Last updated: June 2026