Fix-and-Flip Loans With No Physical Documentation

If you’re an investor in the fast-paced world of real estate flipping, you’re on the lookout for financing that matches your need for speed. Traditional loans bog you down with paperwork and slow approvals, but you’re in the game to win, and time is money. 

Enter no-doc fix-and-flip loans: the streamlined solution to fund your next project with minimal fuss. 

Keep reading because we’ll guide you through the best no-doc loan options available, helping you bypass the red tape and get straight to the business of turning properties into profit. We’ll also cover the pros and cons of no-doc fix-and-flip loans—and what you might give up in exchange for fast funding. 

What is a no-doc fix-and-flip loan?

A no-doc fix-and-flip loan is for real estate investors who want to purchase, renovate and sell properties quickly. The “no-doc” part means exactly that—no need to submit the mountain of documentation usually required by traditional lenders. 

Tax returns? Pay stubs? Extensive financial records? Forget them. These loans focus on the value of the property and your plans to increase it—not on your personal income history. You’ll still need to submit some paperwork, but it’s not nearly as much as traditional lenders require. 

What sets no-doc loans apart is their simplicity and speed. You’ll cut through the red tape and sidestep the lengthy approval processes that can often stall projects. But this convenience comes with a trade-off, typically in the form of higher interest rates and shorter repayment terms.

Where to get a fix-and-flip loan with no documentation

For real estate investors, finding the right funding source can be a crucial part of the investment game. It’s essential to identify a lender that understands the unique dynamics of flipping properties. 

The following explores six top-notch lending companies specializing in fix-and-flip loans where physical documentation is not required.

Click the lender’s name in the table to read more details about its no-doc fix-and-flip loans—or keep reading to find out more about all six.

Lender	APR*
New Silver	10% – 12.75%
Capital Funding Financial	Starting at 9.49%
Funding Pilot	Starting at 8.75%
Stratton Equities	Starting at 6.99%
Easy Street Capital	9.90% – 11.90%

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New Silver

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• Specializes in loans for fix-and-flip projects
• Streamlines the loan application, approval, and funding process
• Offers competitive rates with no prepayment penalties

New Silver takes a refreshing approach to lending. It pioneers digital mechanisms that reduce red tape, making its loan processes more efficient. By focusing on fix-and-flip projects, New Silver gives investors the necessary financial cushion to propel their property ventures.

Its competitive rates, coupled with the freedom from prepayment penalties, are a magnet for investors. It’s terrific for those who wish to minimize their borrowing costs while maximizing their profits.

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Capital Funding Financial

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• Fast and straightforward investment property loans
• Transparent, detail-oriented loan process
• Prides itself in delivering an impeccable client servicing experience

Capital Funding Financial is a force to reckon with in the lending sphere. It eliminates the traditional bureaucratic procedures to achieve a seamless loan process. This allows real estate investors to access quick funds to speed up their property-flipping ventures.

Its robust client service model makes it stand out. With its emphasis on transparency and thoroughness, Capital Funding ensures investors are well-informed about every stage of the lending process.

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Funding Pilot

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• Nontraditional approach to lending with innovative financial solutions
• Expertise in assisting small businesses get off the ground
• Prizes transparency and integrity in the lending process

Funding Pilot offers fresh financial solutions to house flippers. Its expertise in aiding small businesses makes it a valuable ally for beginner investors or those with smaller operations.

Not only does it pride itself on transparency in its processes, but it strives to maintain a high level of integrity. This builds a trustworthy relationship with its clients.

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Stratton Equities

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• Opportunities for all types of investors with diverse loan programs
• Quick approval process
• Strong emphasis on customer service and satisfaction

Stratton Equities brings opportunities for a wide range of investors via its diverse loan programs. This opens doors for multiple investment possibilities, making it a popular choice among investors.

Its fast approval process ensures funds are available as soon as possible, giving investors a head start on their projects. The strong emphasis on customer satisfaction resonates well with those seeking a lender that values them.

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Easy Street Capital

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• Specializes in hard money loans for real estate investors
• Extensive industry knowledge and experience
• Focus on building long-term relationships

Easy Street Capital closes our round-up with its deep expertise in hard money loans for property-flipping investors. Its vast industry experience makes it a reliable partner for those navigating the real estate terrain.

Easy Street is a “light doc” lender versus no-doc, meaning it has a streamlined needs list for approval—but it doesn’t require tax returns, income verification, or an extensive history of bank statements.

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How does a no-doc fix-and-flip loan work?

A no-doc fix-and-flip loan provides you with the capital to purchase and renovate a property with minimal documentation. Unlike traditional loans, you don’t need to submit detailed financial records, such as tax returns or pay stubs. 

Instead, you’ll typically need to provide: 

• A valid ID
• Purchase contract
• Renovation budget
• Track record
• Business documents

In some cases, you may need to submit a recent bank statement to prove you have enough for a down payment and closing costs. However, the lender’s main concern is the potential property value and your track record for flipping properties. 

To make a decision, lenders often assess the property’s current condition, the estimated cost of renovations, and the projected after-repair value (ARV). Some lenders require a minimum credit score of 600 to 660. But it’s less about your score and more about the property’s potential and your ability to execute the flip. 

The funding speed can be quick with no-doc loans. Because the focus is on the asset rather than your financials, the underwriting process is faster. Depending on the lender, you could get your funds in as little as two days. 

Pros and cons of no-doc fix-and-flip loans

A no-doc fix-and-flip loan can be a powerful tool if you need quick funding and have the expertise to manage renovations. But this convenience comes at a cost. Weigh the pros and cons to determine whether the potential rewards justify the trade-offs.

Pros

• Speed

  You can get no-doc fix-and-flip loans within days, in many cases. This rapid turnaround can be a huge plus if you’re purchasing a property in a competitive market.

• Simplified process

  Because there’s far less paperwork to submit, the application process is more streamlined. This can be a bonus if you’re busy or have privacy concerns and prefer not to disclose your personal financial information to lenders. 

• Focus on property potential

  Lenders often approve no-doc business loans based on the property’s value and your project plan, not your personal income or financial history.

• Investment opportunities

  If you lack proof of income or have an uneven cash flow, no-doc loans can provide an avenue to invest in real estate that might otherwise be closed to you.

Cons

• Higher costs

  No-doc loans often come with higher interest rates than traditional loans, which can eat into your profits.

• Larger down payments

  Lenders may require a heftier down payment to mitigate their risk. Some lenders have a minimum 10% down payment requirement, while others may require 30% or more. As a result, you may need more upfront capital.

• Shorter repayment terms

  You often need to repay these loans within 12 to 24 months, which can add pressure to complete and sell the property.

• Risk

  If the flip doesn’t go as planned, you could be stuck with a high-interest loan and a property you can’t sell for profit.

• Fewer loan options

  Fewer lenders offer no-doc fix-and-flip loans. So if you decide to go this route, you won’t have as many options to consider to find the best deal. 

Our expert advises: Most important considerations

Jim McCarthy

CFP®

It’s crucial to have high confidence before you fix and flip the property. Does your overall financial plan allow for a loss on the transaction?  On any loan, understanding the terms, conditions, and costs is key. Avoiding loans with prepayment penalties is also wise.

Alternatives

If the thought of digging up financial documents makes you shudder, but you still need funds for your fix-and-flip venture, consider these alternatives:

• Hard money loans. Similar to no-doc loans, these focus more on the property’s value than your income. The approval process is fast, but you may need more documentation than a no-doc loan. 
• Home equity line of credit (HELOC). If you have equity in another property, you can tap into it with a HELOC. This allows you to use the value you’ve already built to fund your flip. Paperwork is required, but not as much as a full mortgage application.
• Cash-out refinance. This is when you refinance your mortgage and pocket the difference. It’s a solid option if you own a property with built-up equity, but you’ll need to handle some paperwork.
• Partner financing. Teaming up with a financial partner who has cash can reduce the need for a loan. They invest the money, you bring the flipping expertise, and you both share the profits.
• Investment groups or crowdfunding. Real estate investment groups or online crowdfunding platforms have investors that pool money for real estate deals. You’ll still need to present a compelling case, but the financial deep dive isn’t as intense.
• Seller financing. Sometimes, the seller might play banker and let you pay for the property over time. This can be a flexible, less-document-heavy way to fund your flip.

Each option has its own pros and cons, including varying degrees of paperwork. Choose one that matches your financial situation, investment strategy, and tolerance for submitting forms.