Refinance a flip for rental. Where to get loan?

4 Replies

I have a property that I’m finishing up as a flip and want to refinance and turn into a rental. But everywhere I’ve inquired thus far has required a down payment or
will only finance a portion (like 70%).

Is there any way to get 100% refi???


You should be able to find a local bank that will do 75% cash out as long as you have held for 6 months. If you paid cash their is a delayed finance option that will allow you to pull out your cost. Purchase price, repairs and closing cost.

No one will provide a 100% loan on any house. Most banks will provide 75% of the appraised value. They want to be sure you have some skin in the game too.

Granted, there may be some HML out there that will entertain a 100% funding, but it would be rare, especially not with prior relationships.

If you need 100% then your best bet is to just sell. All my cash outs have been 75% of appraised value. That's always been enough for me to purchase 2-3 more properties and do another 75% cash out on the most valuable option at the time. 

Hey Matthew, Yes, but typically people will refinance to cut their rate and improve cash flow. Hard Money loans are typically in the double digits so doing so isn't usually practical. It can make some sense in the case of a short-term or ballooning note

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