Broker, not a lenderHard Money Lenders inCovington, Kentucky
Fix and flip, DSCR rental and new construction financing for Covington investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.
Prefer to talk it through? Call or text Micah at (281) 636-5682.
What you get working with us
Price a Covington deal right now
Prefilled with a realistic Covington deal. Change any number and it reprices instantly on the lanes licensed in Kentucky, using the same engine behind our term sheets.
Financing a deal in Covington
Covington sits directly across the Ohio River from downtown Cincinnati, and for many buyers it is simply part of the Cincinnati market with Kentucky taxes. It has one of the largest collections of nineteenth century brick rowhouses and Italianate homes in the region, packed into walkable neighborhoods like Mainstrasse, Licking Riverside and Seminary Square. Further south, Latonia and South Covington have early twentieth century frame houses and postwar ranches.
The Covington deal is decided by how much of the old house you have to save. A rowhouse in a historic district is worth more finished with its original brick, trim and windows respected, but that work costs more and takes longer, and the exterior goes through design review. Buyers here pay for character done right and walk past a gut job that erased it. The market has been strong this year, so the right house finished well sells quickly. In Kentucky a first flip can be priced at 10% down with 660+ credit (from 9.99%). Programs that need completed flips: 15% down from 9.00% with 2+ flips; 7.5% down from 9.99% with 3+ flips; 5% down from 12.00% with 3+ flips or from 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV.
What a Covington deal looks like on paper
Covington example: $160,000 purchase, $60,000 rehab, $300,000 after repair value, 730 credit, 4-10 flips completed. The engine puts that borrower on the 5% Down, 3+ Flips program at 12.00%. Say an 1890s brick rowhouse in Westside Covington, 41011: tuckpointing, a new roof and box gutters, rewiring, a kitchen and two baths, with the front windows and door kept to the historic look. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.
- Down payment (5% of the purchase)You$8,000
- Origination (2%)Lender$4,240
- Doc prepLender$749
- Broker fee (1%)Broker$2,120
- Title and closing (estimate at Texas rates)Title$3,383
- Prepaid interest (15 days)Lender$1,045
- Property insuranceInsurer$2,090
- AppraisalAppraiser$550
Interest while you rehab: $1,520 a month on the $152,000 funded at closing, $2,120 once every draw is out. Proof of funds is cash to close plus $16,200 of rehab reserve and $12,720 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.
What we can fund in Covington
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| Experienced Investor Rate1 | 15% | 680+ | 2+ completed flips | 9.00% | 0.75% | 75% of ARV | 12-24 months | 7-14 days |
| First Flip, 10% Down2 | 10% | 660+ | First flip OK | 9.99% | 2% | 75% of ARV | 12 months | 21-30 days |
| 7.5% Down, 3+ Flips3 | 7.5% | 660+ | 3+ completed flips | 9.99% | 1.5% | 75% of ARV | 12 months | 21-30 days |
| 5% Down, 3+ Flips4 | 5% | 600+ | 3+ completed flips | 12.00% | 2% | 75% of ARV | 12 months | 7-14 days |
| 5% Down, 5+ Flips5 | 5% | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips6 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
- Rate and origination are the program floor; two completed projects in the last 36 months preferred.
- Rate 9.99% at 2 to 2.25 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 87.5% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
- Rate 9.99% at 1.5 to 1.75 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 90% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
- Rate from 12%, set per file. Origination steps down with experience: 1.5% at 5+ deals, 1% at 8+.
- Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
- Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% and 2 to 3 points, set per file. Purchase plus rehab must fit under 70% of ARV.
Origination has a $2,000 minimum on every program and the broker fee is 1% with a $2,000 minimum. These are the numbers the instant term sheet uses as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.
Where Covington prices sit right now
Before we price a Covington flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.
Redfin puts the Covington median sale price at $239,000 for the three months ending September 2026, up 10.9% from a year earlier, with homes selling after 18 days on the market on average.
| Median sale price, Covington (Redfin, 3 months to Sep 2026) | $239,000 |
| Change from a year earlier (Redfin) | +10.9% |
| Average days on market, Covington (Redfin) | 18 |
Sources: Redfin, Covington housing market
How a Covington file actually gets priced
We comp Covington by neighborhood and by house type, because a renovated Mainstrasse rowhouse and a Latonia ranch are different products even a mile apart. We keep the comps on the Kentucky side of the river, because a buyer weighs a Covington house against Northern Kentucky taxes and schools, not against Cincinnati. We watch for unpermitted third-floor bedrooms and basement conversions in the older stock, and a rowhouse with no parking is compared with others like it.
Covington is protected by a floodwall along the Ohio and Licking rivers, but basements in low areas still take water, and the city’s hillsides are known for slow-moving landslides in Northern Kentucky soils. The old brick housing brings failing mortar, box gutters, lead paint and knob and tube wiring. Inside the local historic districts, exterior changes need a certificate from the city’s historic preservation review before work starts. Rental properties are subject to city registration and inspection rules.
Who buys your finished Covington deal
The finished Covington house sells to young professionals working in downtown Cincinnati, airport and logistics workers from the Northern Kentucky employers near CVG, and buyers who want a walkable neighborhood at a lower price than the Ohio side. They want updated systems, a clean inspection and the original character intact. Rentals are strong near Mainstrasse and the riverfront, so a DSCR refinance is a real backup.
Your whole loan, in one portal
Apply once and the whole Covington loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.
What we fund in Covington
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Covington.
DSCR Rental
Qualifies on the property’s rent, not your W-2. The usual exit when a flip becomes a hold, and the long-term financing on a BRRRR.
New Construction
Ground-up for builders and infill developers, with a draw schedule matched to the build timeline.
Where we lend in Covington
We broker deals across the whole Covington market. These are the submarkets investors ask us about most:
From deal to funded
Send the deal
Address, purchase price, rehab budget and your ARV. Three minutes, no credit pull.
We shop it
Your scenario goes to the lenders in our network that actually fit it and are licensed in Kentucky, not all 400 at once.
Real terms back
Rate, origination, leverage and cash to close side by side, so you can compare on total cost.
Close
Plan on 7-14 days with completed flips and 21-30 days on a first flip. We stay on title and the lender through funding.
Covington hard money FAQ
Do you lend hard money in Covington?
Which fix and flip programs apply in Covington?
How fast can a Covington hard money loan close?
How much do I need to bring to close on a Covington flip?
Do you fund the rehab budget in Covington?
What credit score do I need for a Covington fix and flip loan?
Can I refinance a Covington flip into a rental loan?
Do I need approval to renovate a historic rowhouse in Covington?
Can I get a first-flip loan in Covington?
Before you sign anything
Ready to fund your Covington deal?
Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.