FLIP
Huntington Beach
$620K → $895K
Fix & Flip
Fix & flip — funded in 10 days, no income docs.
Up to 90% of purchase + 100% of rehab. Close in your LLC. We’ve done 200+ of these — we know your contractor’s draw schedule.
Submit a deal
Download term sheet (PDF)
Term sheet
Fix & Flip at a glance.
Operator-grade pricing.
Rate
9.5% – 11.5%
Interest-only
Term
12 – 24 months
6mo extensions available
LTC
Up to 90% purchase
85% standard
Rehab funded
Up to 100%
Reimbursement-style draws
LTARV cap
75%
After-repair value
Min credit
660
Tradeline depth matters more than score
Min experience
1 prior flip
First-timers case-by-case with strong reserves
Funding speed
7 – 10 business days
From a clean file
Origination
2 – 3 points
Volume tiers drop this
Draw schedule
How the rehab money actually moves.
Reimbursement-style. You front the work or your contractor does; we wire the draw after inspection.
- 01Submit scope
Itemized scope of work and budget at submission. Bigger files break it into line items.
- 02Initial draw
At close. Funds permits, demolition, dumpster fees — whatever’s required to start.
- 03Inspection draws
As you complete line items, request a draw, inspection happens within 24h via Truss, wire follows.
- 04Final draw
Certificate-of-occupancy or equivalent. Last wire releases. List or refi into the next loan.
For operators
Tooling that matters at scale.
- Pre-approved contractor list (no first-time vetting overhead)
- 24-hour draw inspections via Truss
- Multi-property pricing tiers at 5+ active
- Cross-collateralization on portfolio deals
- Direct line to underwriting (no LOA chain)
- Auction-eligible loans (Devon to confirm specific TSG)
Recent flips
Files we’ve closed recently.
Format: city · purchase · rehab · exit · days held.
FLIP
Long Beach
$480K → $720K
FLIP
Anaheim
$390K → $560K
FLIP
Garden Grove
$510K → $735K
FLIP
Costa Mesa
$780K → $1.15M
FAQ
Fix & Flip, answered.
No — not for the loan itself. The borrower doesn’t need a contractor’s license. Your contractor needs to be licensed and bonded, with insurance on file. The lender vets the contractor as part of the rehab approval; Devon’s pre-approved list covers most OC GCs already.
No. These are business-purpose loans, not owner-occupied. Living in the property during the rehab is a federal lending violation — don’t do it. If you’re looking for an owner-occupied rehab loan, ask Devon about renovation conventional or a 203(k).
Two paths: (1) you cover the overage out of pocket, complete the project, and exit normally; (2) we submit a budget amendment to the lender for review. Amendments are approved on most files if the ARV still supports the extra rehab at LTARV. Plan for a 10–15% contingency — the smartest operators always do.
Yes — that’s the BRRRR exit. Devon prices the F&F + DSCR refi together as a bundle on most files, which trims origination on the second loan and lets us pre-underwrite the take-out before you even close the rehab loan. Plan it on day one, save 50–100bps on the back end.
Yes — on a transactional/proof-of-funds basis for the auction itself, then converted to a fix-and-flip loan post-acquisition. Talk to Devon a week before the sale; we’ll get the POF letter ready and pre-position the takeout file.
10-day funding. Real money. Real fast.
Send the deal — address, purchase, rehab, ARV. Devon will price it the same day and pre-position the file for a 10-day close.
Submit a deal