Fix-and-Flip Loan FAQs
What is a fix-and-flip loan and how does it work?
A fix-and-flip loan is a short-term loan for real estate investors who buy a property, renovate it, and sell it for a profit. Instead of qualifying based on your personal income, lenders look at the deal itself — specifically the After Repair Value (ARV), your rehab budget, and your exit timeline. Loan terms typically run 6 to 18 months. Endeavance Capital brokers fix-and-flip loans from $75K to $5M+ across Washington State and 35+ states nationwide.
Do I need good credit to get a fix-and-flip loan?
Credit matters, but it's not the primary factor. Most fix-and-flip lenders focus on the deal — the property's ARV, your rehab scope, and your experience as an investor. Minimum credit scores typically start around 620–640 depending on the lender, but strong deal economics can offset a lower score. First-time flippers and experienced operators both qualify; experienced investors with a track record get better terms.
How fast can a fix-and-flip loan close?
Many private lenders in our network can close in 10 to 14 business days once the file is complete. Speed depends on the property type, loan size, and how quickly you can provide documentation. Fix-and-flip loans close significantly faster than conventional loans — you can move on a deal before a bank even finishes its first review.
How much of the purchase price and rehab costs will a lender cover?
Experienced investors can access up to 90% of the purchase price and up to 100% of rehab costs, depending on the lender and their track record. First-time flippers typically see lower leverage — around 80–85% of purchase price. The total loan amount is capped as a percentage of ARV, usually 65–75%. Bringing your own capital into the deal improves your terms and shows lenders you have skin in the game.
Can I get a fix-and-flip loan in Washington State?
Yes. Endeavance Capital, Inc. is a commercial loan brokerage based in Yakima, WA that specializes in fix-and-flip loans for real estate investors across Washington State, including Yakima, Kittitas, Benton, and Franklin counties. We also work with investors in 35+ states nationwide. NMLS licensing is not required for commercial and non-owner-occupied investment property lending in most states.
DSCR Loan FAQs
What is a DSCR loan and how does it work?
DSCR stands for Debt Service Coverage Ratio. A DSCR loan qualifies based on the rental income the property generates — not your personal income or tax returns. If the property's rent covers the mortgage payment, you can qualify. A DSCR of 1.0 means rent equals the payment; most lenders want 1.1 or higher, though some programs go as low as 0.75. Endeavance Capital brokers DSCR loans from $100K to $3M+ for single-family, 2–4 unit, and small multifamily properties across Washington State and 35+ states.
Do DSCR loans require tax returns or proof of income?
No. That's the main advantage of a DSCR loan. Lenders do not require W-2s, tax returns, or employment verification. The property's rental income is what qualifies the loan. This makes DSCR loans ideal for self-employed investors, landlords who write off significant expenses, and anyone whose tax returns don't reflect their actual financial position.
What types of properties qualify for a DSCR loan?
DSCR loans are available for non-owner-occupied investment properties, including single-family rentals, 2–4 unit properties, condos, and small multifamily buildings. The property must be an investment property — not your primary residence. Short-term rental properties (Airbnb, VRBO) may qualify on some programs using projected or actual short-term rental income.
What are typical DSCR loan terms?
DSCR loans are long-term financing — typically 30-year fixed or adjustable-rate (ARM) options. Loan amounts generally range from $100K to $3M+. Rates are slightly higher than conventional loans given the no-income-verification structure. Most programs require a minimum credit score of 620–680 and a down payment of 20–25%. These are portfolio loans held by private lenders, not conventional Fannie/Freddie products.
Can I get a DSCR loan in Washington State?
Yes. Endeavance Capital, Inc. brokers DSCR rental loans for real estate investors throughout Washington State, including the Yakima Valley, Tri-Cities, and surrounding areas. We are also licensed in 35+ states for investors operating outside Washington. No NMLS license is required for DSCR lending on non-owner-occupied investment properties in most states.
New Construction Loan FAQs
What is a new construction loan and how does it work?
A new construction loan is a short-term loan that funds the ground-up building of a residential or light commercial property. Unlike a traditional mortgage, funds are released in draws as construction milestones are completed — not as a lump sum at closing. Terms typically run 12 to 24 months, with extension options if needed. Once construction is complete, the borrower either sells the property or refinances into permanent financing. Endeavance Capital brokers new construction loans across Washington State and 35+ states.
What does a construction lender look for when evaluating a deal?
Lenders evaluate the project from several angles: the borrower's construction experience and track record, the feasibility of the budget and timeline, the After Completion Value (ACV) of the finished property, the strength of the general contractor, and the borrower's liquidity and credit. Experienced builders with documented projects get better leverage and rates. First-time builders can still qualify on the right project with a strong GC and solid numbers.
How are construction loan draws structured?
Construction funds are released in stages tied to completed work — foundation, framing, rough mechanicals, drywall, finish work, and final completion are common draw milestones. The lender or an inspector verifies work completion before releasing each draw. Interest is typically charged only on the funds drawn, not the full loan amount, which keeps carrying costs manageable during the build.
Can I finance both the land and construction in one loan?
Yes. Some programs offer combined lot acquisition and construction financing in a single loan, which simplifies the process and reduces closing costs. Others require you to own the land already before construction financing is applied. If you already own the lot free and clear, it can often be used as equity toward the construction loan, reducing the cash you need to bring to closing.
Can I get a new construction loan in Washington State?
Yes. Endeavance Capital, Inc. is a Yakima-based commercial loan brokerage that works with developers and builders on new construction financing throughout Washington State. We are also licensed in 35+ states for projects outside Washington. Whether you're building a spec home, a custom build, or a small multifamily project, we can source the right construction lender for your deal.
Commercial Bridge Loan FAQs
What is a commercial bridge loan and when should I use one?
A commercial bridge loan is short-term financing used to acquire or reposition a commercial property while you arrange permanent financing, stabilize the asset, or prepare it for sale. Common uses include acquiring a value-add property, funding a renovation before a permanent loan, buying out a partner, or closing quickly when a conventional lender can't move fast enough. Endeavance Capital brokers commercial bridge loans from $500K to $20M+ across Washington State and 35+ states.
What property types qualify for a commercial bridge loan?
Commercial bridge loans are available for a wide range of property types including office, retail, industrial, warehouse, mixed-use, multifamily (5+ units), hospitality, and special-purpose properties. The property doesn't need to be stabilized or fully leased — bridge lenders are comfortable with vacancy and transitional assets, which is exactly what makes them useful for value-add investors.
How do commercial bridge loans differ from conventional commercial loans?
Conventional commercial loans require stabilized properties, seasoned financials, and lengthy underwriting — often 60 to 90 days to close. Commercial bridge loans close much faster, typically 2 to 4 weeks, and are asset-based rather than income-based. They carry higher rates than permanent financing, but they're designed for speed and flexibility, not long-term holds. Most borrowers use a bridge loan to get into a deal and then refinance into permanent financing once the property is stabilized.
Are interest-only payments available on commercial bridge loans?
Yes. Most commercial bridge loans are structured as interest-only for the loan term, which keeps monthly payments low during the repositioning period. This matters because bridge loan borrowers are typically spending capital on renovations or lease-up costs — interest-only structure preserves cash flow for the work that will ultimately increase the property's value and support permanent financing.
Can I get a commercial bridge loan in Washington State?
Yes. Endeavance Capital, Inc. is a veteran-owned commercial loan brokerage based in Yakima, WA that specializes in commercial bridge loans for investors and developers across Washington State, including Yakima, Kittitas, Benton, and Franklin counties. We are also licensed in 35+ states for deals outside Washington. No NMLS license is required for commercial bridge lending on non-owner-occupied properties in most states.