A fix and flip loan is a short term, asset based loan secured by the property being renovated. Approval is based mainly on the deal itself, meaning the purchase price, the renovation plan, and the projected value of the home once repairs are complete, rather than the borrower’s personal income history.
Georgia’s flip market has settled into a steadier pace after a hot few years. Inventory has grown for three straight years, homes are taking close to two months to sell in most metros, and prices vary widely by city. Loankea prices deals off the property and the plan, not a single statewide average.
Program Terms at a Glance
| Program Feature | Detail |
|---|---|
| Interest rate | Starting at 8.45%, typically 8.45% to 11% |
| Loan to cost | Up to 92.5% of purchase and renovation costs |
| Loan to ARV | Up to 75% of after repair value |
| Loan amount | $75,000 to $5,000,000 |
| Rehab budget financed | Up to 100%, with fast draw turnaround |
| Term length | 6, 9, 12, 13, 19, or 24 months |
| Time to close | As fast as 7 to 10 business days |
| Credit score | Generally 620 minimum |
| Prepayment penalty | None |
Loans close in an LLC, S corp, C corp, or individual name.
Who This Loan Is For
- First time investors buying their first renovation property in Georgia
- Experienced flippers running several projects at once
- Licensed contractors who purchase properties directly instead of only performing the work
- Self employed borrowers whose tax returns understate their real buying power
- Out of state and international investors targeting Georgia’s lower cost metros
Approval leans on the property and the project plan, which is why self employed borrowers and newer investors often qualify more easily here than through a conventional lender.
How Fix and Flip Loan Works
- The lender reviews the purchase price, the renovation budget, and the projected after repair value.
- Funding is approved to cover the purchase and a portion of renovation costs.
- Renovation funds release in stages, after each stage passes inspection.
- The loan is repaid once the property sells or the investor refinances into longer term financing.
Documents You Need
- Signed purchase contract or current proof of ownership
- Renovation budget and scope of work
- Contractor bid or itemized cost breakdown
- Government issued identification
- Two to three months of bank statements showing reserves and down payment
- Entity formation documents if purchasing through an LLC or corporation, plus a Certificate of Authority filed with the Georgia Secretary of State if the entity was formed out of state
Licensing Rules
The Georgia Residential Mortgage Act (O.C.G.A. § 7-1-1000 et seq.) governs loans made for personal, family, or household purposes on a dwelling the borrower occupies. A fix and flip loan on a non-owner-occupied investment property is made for a business purpose, so it generally falls outside that definition.
This means a Georgia fix and flip loan moves as a business purpose transaction. There is no mortgage loan originator license tied to the transaction itself and none of the consumer disclosure timelines built for owner occupied lending. Keeping the deal in an LLC and keeping the property non-owner-occupied is what preserves that treatment.
Contractor Licensing Rules
Georgia licenses contractors through one statewide board, and the threshold is low. Any residential project valued at $2,500 or more in combined labor and materials needs a licensed general or residential contractor. Electrical, plumbing, and HVAC work needs its own state license regardless of project size. Contracting without a license when the threshold is met is a criminal misdemeanor, and it can also block the contractor from collecting payment through a lawsuit if a dispute comes up.
Taxes You Will Pay in Georgia
Georgia charges an intangible recording tax on a mortgage note when the security deed is recorded, at $1.50 per $500 of the loan amount, roughly 0.3%. The tax only applies to long term notes. Since July 2025, any note maturing within 62 months counts as short term and is exempt. Fix and flip terms run 6 to 24 months, so the loan itself typically owes no intangible recording tax at closing.
The transfer tax applies separately, on the sale. Georgia charges $1.00 for the first $1,000 of the sale price plus 10 cents for each additional $100, roughly 0.1%. On a $430,000 resale, that comes to about $430, usually handled at closing with responsibility negotiable in the purchase contract.
Permits in Georgia
Georgia enforces a statewide minimum building code, but review speed depends on the local jurisdiction.
- Atlanta. Standard residential plan review runs 10 to 20 business days. Any project that may affect a tree on the lot needs an arborist meeting before the permit application is submitted.
- Savannah historic districts. Properties inside the Landmark Historic District or a few other local overlay districts need a Certificate of Appropriateness for exterior changes visible from the street, reviewed on a separate monthly board schedule from the building permit.
- Columbus, Macon, Augusta. These building departments typically move faster than Atlanta for comparable scope.
Set ARV from closed comps rather than list prices. With inventory rising statewide, a flip priced off stale comps can sit for months.
Cost Example
An investor purchases a property in Atlanta for $310,000 and budgets $70,000 for renovations. The completed home is projected to be worth $460,000 after repairs. A lender financing 85% of the purchase price and 100% of the renovation budget provides about $263,500 for the purchase plus the full $70,000 renovation budget, roughly $333,500 in total funding, or about 72.5% loan to ARV. The investor covers the remaining $46,500 of the purchase price along with holding costs such as insurance, property taxes, and utilities during the renovation.
Actual terms depend on the property, the borrower’s experience, and the project itself, so confirm final numbers with Loankea before setting a budget.
Refinancing Into a Rental Loan
Not every project sells on the original timeline. Investors who can’t hit their target sale price often refinance into a DSCR loan instead, renting the property while waiting for better conditions. Georgia DSCR loans typically close in 14 to 21 business days, and the same property that funded renovation through a fix and flip loan can season directly into a 30 year or 40 year DSCR mortgage once it’s stabilized. Investors holding through an out of state entity should plan for a licensed property manager on file, since Georgia’s HB 399 requires one for non-resident landlords once the property becomes a long term rental.
What We Offer
Loankea offers diverse fix & flip loan solutions crafted exclusively for property investors looking to venture into house flipping. Each lending option is customized to align with investors’ specific requirements. It helps investors achieve their monetary objectives with flexible terms and reliable support throughout the process.
Our Best Terms and Conditions:
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Try the Fix & Flip Calculator to run purchase price, rehab budget, and ARV against these terms before applying.
