Hard money and bridge
Fix-and-flip loans
A fix-and-flip loan is a short-term private loan that funds the purchase of a property and part of its renovation budget, sized against the lesser of a share of the as-is value plus rehab cost and a share of the after-repair value (ARV), and repaid when the property is sold or refinanced.
Key facts
Figures as of 2026-10-31. Program rules change by notice, so an advisor confirms current terms with lenders before you rely on any figure.
| Item | Figure | Source and date |
|---|---|---|
| Leverage | 65%–75% of as-is value or after-repair value (LTARV) | Corin estimate, varies by lender; as of 2026-10-31 |
| Interest rate | 9.5%–12.5% | Corin estimate, varies by lender; as of 2026-10-31 |
| Origination points | 1–4 points | Corin estimate, varies by lender; as of 2026-10-31 |
| Term | 6–36 months, interest-only | Corin estimate, varies by lender; as of 2026-10-31 |
| Extension fee | 0.5%–2% per extension | Corin estimate, varies by lender; as of 2026-10-31 |
| Minimum interest | 3–6 months of interest | Corin estimate, varies by lender; as of 2026-10-31 |
| Exit fee | 0.5%–1% | Corin estimate, varies by lender; as of 2026-10-31 |
How the loan is sized
Lenders start with the purchase price and the rehab budget, then cap the loan at a share of the property's after-repair value. The lower result controls. A rehab holdback is set aside inside the loan and released by the lender as work is completed under the lender's own process.
That holdback is the lender's, not Corin's. Private lenders fund at closing as lender of record. Corin does not inspect work, release funds or hold any money.
- As-is value plus rehab budget versus ARV: the lender uses the lower
- Experience with prior projects can improve leverage and pricing
- A clear exit by sale or refinance is required
What makes or breaks the deal
Accurate rehab budgets, realistic ARV comparables and the timeline matter more than the rate. Delays raise interest cost, trigger extension fees and can compress margin. We help test the numbers before you commit.
Frequently asked questions
What is ARV?
After-repair value is the property's estimated market value once the planned renovation is complete. Lenders use it to cap the loan.
Can the loan cover the rehab?
Often partly. The lender sets the portion funded through a holdback within its overall leverage limit, so borrowers typically need cash for the remainder.
What if I cannot sell in time?
Most lenders offer extensions for a fee. A refinance into a DSCR or bank loan is the usual alternative.
Related programs
- Hard money and bridge loansShort-term, asset-based private loans for speed and flexibility.
- Private bridge loansShort-term floating debt from private lenders and debt funds.
- DSCR investor loansRental property loans underwritten on the property's debt service coverage.
- Construction loansGround-up and heavy-renovation financing from banks, debt funds and private lenders.
- Construction financingBank, debt fund, HUD and C-PACE options for construction projects.
Talk through your deal with an advisor
Send the basics and a licensed Corin advisor reviews which programs and lenders may fit, or size the loan yourself first.