Micah · Capital KingsFounder & CEO

Tue 7:12 PM

Can I get a fix and flip loan in Texas with no experience?

Delivered

Yes! I work with a lot of first time investors, so we can definitely help. Depending on what you’re looking for we could do 0% down, 5% down or 12.5% down

Do you have a property you’re looking at yet?

Yeah, $185,000 house, about $40,000 of work, should be worth $345,000 when it’s done. My credit is around 720

Tue 7:31 PM

Perfect, here are all three so you can compare

Term sheet · Sample first flipTap to open

Least cash to close: 0% down at 11.50%, 3% origination. All the closing costs roll into the loan, so after your $5,000 earnest money you bring $0

A mix: 5% down at 11.49%, 2% origination, $18,672 to close. Best rate: 12.5% down at 9.75%, 1% origination, $29,742 to close

For a first flip I usually don’t recommend 0% down because of the higher fees up front, but if you’d rather keep your cash in the bank it works great

Your turn

Send me the address, price, rehab and ARV and I’ll send you term sheets back

Get my real numbers →Text Micah directly(281) 636-5682

This is my direct cell, I answer it myself, nights and weekends too

Or replySee every dollar

In short

Yes. In Texas a first flip can be financed four ways: 0% down or 5% down in a Texas metro area (MSA), 10% down with a fast close, or 12.5% down at a lower rate. Which one fits depends on your credit and how much cash you want to bring, so here are all four side by side, priced the way your term sheet prices them.

Prefer to talk it through? Call or text Micah at (281) 636-5682.

Reviewed by Micah Foster, Founder & CEO · October 2026

In short

The short answer, as of October 2026

Yes. You don’t need any completed flips. On a $185,000 house with a $40,000 rehab, cash to close runs from $0 on 0% down in a Texas metro area (MSA), after your earnest money, to $29,742 on 12.5% down, depending on the program and your credit. You need an LLC (any age), your two most recent bank statements, a rehab budget and the contract once you’re under contract.

0% down: no credit minimum, 11.50% at 650+ credit with 3% origination. The lender funds the purchase and rehab and can roll in the closing costs. Texas metro areas (MSA) only.
5% down: 590+ credit. The lender funds 95% of the purchase and 100% of the rehab, 11.49% at 700+ with 2% origination. Texas metro areas (MSA) only.
10% down, fast close: no credit minimum, 11.99% with 2% origination on a 6-month term. Built for speed and for credit under 700.
12.5% down: 700+ credit, 9.75% with 1% origination on a 12-month term, up to 75% of the after repair value.

Capital Kings LLC is a broker, not a lender. We compare every file across 400+ lenders and send the term sheet with every fee on it before you sign.

Run your numbers

Run your numbers before you offer

The most important part of almost every hard money loan is running the numbers before you make the offer. We walk every new investor through theirs to make sure it is a good deal. Here is how a lender looks at it.

After repair value (ARV)What the house will be worth once it is fully fixed up. The lender lends against this number, so it matters more than anything else on the deal.
What the lender looks atThe purchase price, the rehab budget and the after repair value. Hard money lenders mostly don’t look at your personal income or debt-to-income.
Total investmentPurchase plus rehab. On this deal that is $225,000, which is 65.2% of the $345,000 after repair value.
0% down: 70% of ARVIf purchase plus rehab is at or under 70% of the after repair value, you bring nothing down. Over it, you bring the difference so the loan stays at 70%. Here 70% is $241,500, so the deal fits with $16,500 of room, and that room goes toward the closing costs.
5% down: 75% of ARVMore room on tighter deals: the loan can go to $258,750 here. It is a 12-month term with no prepayment penalty.
10% down fast close and 12.5% down: 75% of ARVBoth cap the loan at 75% of the after repair value.

Purchase priceRehab budgetAfter repair value

Enter your deal to see how it fits.

Down payment only. Closing costs and proof of funds are on your term sheet. 0% and 5% down are for Texas metro areas (MSA).

What you need

Four things to get started

An LLCAny age. It doesn’t need to be seasoned, and you can form it the week you go under contract.
Your two most recent bank statementsThey show the cash to close and the proof of funds. Business, personal and retirement accounts all count.
A rehab budgetLine by line. The lender releases the rehab money in draws that follow it.
The contractOnce you’re under contract. You can get approved and make offers before that.

Working with us

From first call to closing

1
Book a call before you make offers.
Call or text Micah at (281) 636-5682. He walks you through all four options and what the terms would be for your credit and cash.
2
Get your pre-approval letter.
Send your most recent bank statement and Micah sends a pre-approval letter you can make offers with.
How the pre-approval letter works →
3
Send deals as you shop.
Submit them in the borrower portal, or text Micah the address, purchase price, rehab budget and after repair value, and get a term sheet back.
4
Get a second set of eyes on the offer.
If your offer is too high, Micah tells you. On 0% down he tells you where to offer so the closing costs roll in, and he runs comps to check the after repair value.

Call Micah, (281) 636-5682 Text Micah

Worked example

Every dollar, line by line

A $185,000 purchase, a $40,000 rehab and a $345,000 after repair value in a Texas metro area (MSA), first flip. The real term sheet on each program:

Cash to close$0

Proof of funds to show$35,636

Every fee, and who gets paid

Down paymentEquity$0
Appraisal feeAppraiser$550
Prepaid interestLender$1,123
Origination and lender feesLender$7,876
Broker feeBroker$2,376
Closing / titleTitle co$3,510
Property insuranceInsurer$2,138
Closing costs rolled into the loanCredit−$12,573
Earnest money creditCredit−$5,000

The lender rolls $12,573 of the closing costs into the loan. Proof of funds adds $35,636 that stays in your account. The gold broker line is the only money Capital Kings earns.

A sample sheet for a made-up borrower, built the same way yours is. Yours takes about five minutes and doesn’t pull your credit.

The numbers

Compare the options

Terms depend on credit, so start with the first table: find your credit band and see what each program costs you.

Your rate on each program, by credit

Credit	0% down	5% down	10% down, fast close	12.5% down
Under 590	11.50%, set per file	Needs 590+	11.99%	Needs 700+
590 to 649	11.50%, set per file	12.99%	11.99%	Needs 700+
650 to 659	11.50%	12.99%	11.99%	Needs 700+
660 to 699	11.50%	12.49%	11.99%	Needs 700+
700 and up	11.50%	11.49%	Moves to 12.5% down	9.75%

First flip, rates on a 12-month term except the fast close, which runs 6 months. 0% and 5% down are for properties in a Texas metro area (MSA). At 700+ credit the fast-close program moves to 12.5% down at the lower rate. Rates as of October 2026.

The same $185,000 flip on all four

Program	Credit	Rate	Loan	Down payment	Cash to close	Proof of funds
0% down	720	11.50%	$237,573	$0	$0	$35,636
5% down	720	11.49%	$215,750	$9,250	$18,672	$43,067
10% down, fast close	620	11.99%	$206,500	$18,500	$27,506	$51,886
12.5% down	720	9.75%	$201,875	$23,125	$29,742	$51,583

$185,000 purchase, $40,000 rehab, $345,000 after repair value, first flip, each priced at a credit score that program fits. Cash to close is the down payment plus every closing cost, our 1% broker fee included. Proof of funds is cash you show in the bank on top of that; it stays in your account. Rates as of October 2026.

How it works

Where the numbers come from

A fix and flip loan pays for the purchase and the renovation on one loan. The purchase funds at closing, and the rehab money is released in draws as each phase is finished and inspected. You pay interest only on what has been drawn.

The four programs trade cash against cost. 0% down needs the least cash, $0 to close on this deal, but it has the highest fees, $17,573 of closing costs. For first time investors we usually don’t recommend 0% down because of those fees up front, but if cash is what’s tight, it gets you in.

5% down funds 95% of the purchase and all of the rehab. At 700+ credit it is 11.49%, and $18,672 to close here. 12.5% down has the lowest rate of the four, 9.75% with 1% origination, and the most cash, $29,742 to close.

The fast close program is 10% down with no credit minimum, 11.99% on a 6-month term. It is the one we use when the closing date is tight or credit is under 700.

We can do rural areas of Texas too. 0% down and 5% down are for properties in a Texas metro area (MSA): Houston, Dallas, Fort Worth, Austin and San Antonio, and the smaller metros as well. For a rural Texas property, call Micah first: it usually takes money down and a lender whose rules fit the area.

Before you apply

Four things to check

Get pre-approved before you offer.A pre-approval letter from your bank statement makes your offer stronger and tells you your number.
Run the after repair value first.Every program caps the loan at a share of the after repair value, 70% on 0% down and 75% on 5% down. We run comps to check it.
Budget proof of funds, not just cash to close.On 0% down here the lender checks $35,636 in the bank against $0 to close.
Itemize the rehab.Draws follow the line items, so a detailed budget funds faster.

Price my deal →Run your own deal Get pre-approved