Capital Kings LLC

Fix and Flip Loans in Texas.5% down, rehab funded.

Buy and renovate on one loan. Bring as little as 5% of the purchase price and the lender funds the rest, plus 100% of the rehab in draws, up to 75% of the after repair value. Your term sheet lists every fee and who it goes to.

Get my term sheet →No deal yet? Get pre-approved

No credit pull
Every fee on the sheet
400+ lenders shopped
First flips welcome

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

Reviewed by Micah Foster, Founder & Mortgage Broker · September 2026

What would you bring to closing?

Purchase pricePriceRehabAfter repair valueARV

Cash to close$21,543

Loan$200,000

Rate11.49%

Proof of funds$47,433

At 700 credit on a first flip, every closing fee included.

Get this as a term sheet →Change credit, experience and program →

At a glance

The fix and flip loan, in four numbers

Down on the 5% Down program, first flip welcome

100%

Of the rehab budget, funded in draws

75%

Of after repair value, the leverage cap

14 days

Typical close, 72 hours when speed wins the deal

A worked example

One Houston flip, four ways

A $160,000 Houston purchase with a $48,000 rehab and a $280,000 after repair value, 700 credit, first flip. The same deal on all four structures a 700 borrower can pick, priced by the term sheet the application generates.

Structure	Down payment	Loan	Rate	Cash to close	Proof of funds
5% downLeast cash5% down · 2 points · 12 monthsProof of funds $47,433	$8,000	$200,000	11.49%	$21,543	$47,433
12.5% down12.5% down · 1 point · 12 monthsProof of funds $54,858	$20,000	$188,000	9.75%	$31,293	$54,858
15% down, Best RateLowest rate15% down · 0.5 points · 12 monthsProof of funds $58,369	$24,000	$184,000	9.49%	$35,238	$58,369
100% financing0% down · 3 points · 12 months · capped at 70% of ARVProof of funds $53,320	$12,000	$196,000	11.75%	$27,405	$53,320

$9,750 more cash at closing buys 9.75% instead of 11.49%, about $387 a month less interest once the rehab is drawn. 100% financing stops at 70% of the after repair value, so on this house the zero-down loan still asks for $12,000 down and $27,405 at closing, $5,862 more than 5% down. Every figure includes the $5,000 realtor commission line and the $5,000 earnest money credit, which offset on this deal.

The real term sheet for this flip, three ways

The same $160,000 Houston flip with a $48,000 rehab and a $280,000 after repair value, 700 credit, first deal, on the three programs a 700 borrower can pick. Every fee is on the sheet, and every line says who gets paid: your equity, the lender, the title company, the insurer, the appraiser, the realtor, or the broker.

Cash to close$21,543

Proof of funds to show$47,433

Where the $21,543 goes

Down paymentEquity$8,000
Appraisal feeAppraiser$550
Prepaid interestLender$944
Lender fees, origination and doc prepLender$4,749
Broker feeBroker$2,000
Closing / titleTitle co$3,324
Property insuranceInsurer$1,976
Realtor commissionRealtor$5,000
Earnest money creditCredit−$5,000

Lowest cash in. The gold broker line is the only money Capital Kings earns. The $5,000 realtor line pays the agent or wholesaler who brought the deal and comes off if nobody did, and the earnest money you already deposited comes back as the credit under it. Proof of funds adds $14,400 of the rehab and $11,490 of interest that stay in your account.

These are sample sheets for a made-up borrower, built by the same engine that builds yours. Yours takes about two minutes and doesn’t pull your credit.

The programs

Five ways to structure a Texas flip

Program	Down	Rate	Origination	Credit	ARV cap	Term
5% Down	5%	9.99% to 12.99%	2%	590+	75%	12 months
12.5% Down	12.5%, 10% after 4 flips	9.75%	1%	700+	75%	12 months
Best Rate	15%	8.99% to 9.49%	0.5%	700+	75%	12 months
100% Financing	0%	11.75%	3%	650+	70%	12 months
Fastest Close	10%	11.99%	2%	Any	75%	6 months, closes in 72 hours

Origination has a $2,000 minimum on every program, the broker fee is 1% with a $2,000 minimum, and the rehab is funded in draws on all five. These are the numbers the instant term sheet uses as of September 2026. Strong credit, cash and a track record can price lower through specific lenders in the network, and we shop every flip against the whole network before it’s signed. 100% financing has its own page, with a real Houston deal that fit under the 70% cap: 100% financing in Texas.

5% down in Texas

What 5% down actually prices at

5% Down prices on two things: your credit and how many flips you have finished. A first flip at 700 or higher credit prices at 11.49% with 2% origination, and every completed deal lowers the rate.

5% Down rate by credit	First flip	2 to 3 flips	4 to 10 flips	10+ flips
760+ credit	11.49%	9.99%	9.99%	9.99%
700 to 759 credit	11.49%	11.24%	10.99%	10.49%
660 to 699 credit	12.49%	11.74%	11.49%	11.24%
590 to 659 credit	12.99%	12.24%	11.99%	11.74%

5% of the purchase, not the project. The rehab is funded on top, so on a $160,000 house with a $48,000 rehab the down payment is $8,000.
The deal has to fit under 75% of ARV. 95% of the purchase plus the rehab has to land under 75% of the after repair value, or the difference comes out of your pocket. Run it before you write the offer.
Texas title is priced by the state. Owner’s and lender’s policy premiums are promulgated, so the term sheet prices title from your contract and loan amount instead of guessing a percentage.
Business purpose only. Investment property you plan to renovate and sell, not a home you plan to live in.

Run the numbers

Price your flip right now

Prefilled with the example above. Change any number and it reprices on the same math the application’s term sheet uses.

Purchase priceRehab budgetAfter repair valueCredit scoreFlips completedProgram

Enter your numbers to see the loan, the cash to close and the rate.

Get the real term sheet →Same math as the application’s term sheet. No credit pull, nothing saved.

First-time flippers

Your first flip, on 5% down

Most people planning a first flip assume they need 20% down and a track record before a lender will fund the renovation. On the 5% Down program you need neither. The loan is sized on the deal: 95% of the purchase plus 100% of the rehab, up to 75% of what the house is worth when it’s done. You bring the 5%, the closing costs and proof of funds, and every completed flip after that lowers the rate.

Credit590 and up

590 opens the 5% Down program. 650 adds 100% financing, and 700 adds 12.5% Down at 9.75% and the Best Rate program.

Cash5% plus costs

The down payment, closing costs, and proof of funds for part of the rehab and six months of interest. The real numbers are on the term sheet above.

The dealFits under 75% of ARV

95% of the purchase plus the rehab has to land under 75% of the after repair value. Run it before you write the offer.

ExperienceNone required

A first flip at 700+ credit prices at 11.49%. Every completed flip lowers the rate, down to 9.99%.

Four mistakes first-time flippers make

Putting 5% down on a deal that doesn’t fit. If 95% of the purchase plus the rehab is more than 75% of the after repair value, the loan is capped and the gap is cash you bring. Run the cap before you write the offer.
Budgeting the down payment and forgetting proof of funds. Lenders verify part of the rehab budget and six months of interest on top of cash to close. On this example that’s $25,890 more in the bank.
Handing the lender a lump-sum rehab budget. Draws are released line by line after inspection. An itemized scope of work gets approved faster and funds faster.
Putting a 12-month project on a 6-month loan. Fastest Close runs 6 months. Contractors run late and houses sit, so if the timeline is tight, take a 12-month program.

Send Micah your flip →Run the flip math first

After you apply

Your whole loan, in one portal

Apply once and the whole 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.

Real terms before you talk to anyone

The instant term sheet from your application, every fee and who it goes to, accepted and signed in the browser.

Always know where your loan stands

Follow the file from application through appraisal, title and underwriting to clear to close.

Upload once, never resend

Contract, scope of work, bank statements, entity documents and ID in one place, from your phone or your desk.

Always know what the holdup is

Every open condition on your file, what clears it, and who it’s waiting on.

Tour the borrower portal →

How it works

How a flip loan is sized

Loan=Purchase price−your down payment+100% of the rehab

Capped at 75% of the after repair value, or 70% on 100% financing. The rehab money isn’t wired at closing: the lender holds it and releases it in draws as each phase is inspected. Interest-only, 12 months on every program but Fastest Close.

What the loan covers

The purchase minus your down payment at closing, and the whole rehab budget in draws. The appraiser sets the after repair value, and that value sets how far the loan can go.

What you bring

The down payment, the closing costs, and proof of funds: the lender verifies part of the rehab budget and six months of interest in your account before closing. Not tax returns, W-2s or pay stubs.

Who it’s for

Built for Texas flippers

First-time flippers with 590+ credit and 5% of the purchase price.
Houston, DFW, San Antonio and Austin flippers who want every file shopped, not one lender’s rate sheet.
BRRRR investors who renovate first and refinance into a DSCR rental loan.
Experienced flippers whose completed deals should be lowering the rate.
Investors short on cash with a wide enough spread for 100% financing.
Clients of realtors and wholesalers, with the partner’s $5,000 commission already on the sheet. How the partner program works.

What we need

The document list, and what isn’t on it

Purchase contract and the property address.
Itemized scope of work and rehab budget, line by line, not a lump sum.
LLC certificate of formation, EIN letter and operating agreement if you close in an entity.
Government ID.
Two months of bank statements showing cash to close and reserves.
Insurance quote or binder.
Settlement statements from completed flips, if you have them. They lower the rate.

Not on the list: tax returns, W-2s or pay stubs.

Fix and flip vs purchase only

Which loan does your deal need

Fix and flip

Purchase only

Funds

The purchase and 100% of the rehab in draws

The purchase only, no rehab money

Sized on

Purchase, rehab and after repair value, up to 75% of ARV

The purchase price

Down

From 5%

12.5% at 680+ credit, 10% at 730+ after 4 deals

Rate

From 8.99%, 5% Down from 9.99%

From 9.75%, 1% origination

Best for

Buying and renovating

Light work you fund yourself, or a quick resale

Buying without a rehab to finance? See purchase-only loans in Texas, or read purchase-only vs fix and flip loans.

Texas markets

Where flips pencil in Texas

A flip loan works wherever the finished house resells for enough to cover the purchase, the rehab and the carry: the older neighborhoods of Houston, the Dallas-Fort Worth suburbs, San Antonio and the Austin metro. The number to run first is the 75% ARV cap. On a $280,000 after repair value the loan tops out at $210,000, so the purchase and the rehab have to fit under it before 5% down works. 5% down and 100% financing are metro programs: the property has to be within about 30 to 40 miles of Houston, Dallas-Fort Worth, San Antonio or Austin. A rural house can still get a loan, on different underwriting and usually with more down.

Houston investor loans →Dallas investor loans →Cypress →Spring →All Texas coverage →

Process

From offer to first draw

Send the deal

Address, purchase price, rehab budget, after repair value and your credit band. Two minutes, no credit pull, instant term sheet.

We shop it

Your flip goes to the lenders in our network whose programs fit the leverage you want and the credit you have.

Appraisal and scope

The appraiser confirms the after repair value, the lender reviews the scope of work, and title and insurance get ordered.

Close and renovate

About 14 days typical. The purchase funds at the table and the rehab comes back to you in draws.

Questions

Texas fix and flip loan FAQ

What is a fix and flip loan?

A short-term, interest-only loan that buys an investment property and pays for the renovation. It’s sized on three numbers: the purchase price, the rehab budget and the after repair value. The purchase funds at closing, the rehab budget is held back and released in draws as the work is inspected, and the loan runs 12 months until the house sells and pays it off. Capital Kings LLC brokers fix and flip loans across Texas on 1 to 4 unit investment properties, business purpose only.

How much do I need to put down on a fix and flip loan in Texas?

As little as 5% of the purchase price on the 5% Down program, with 590 or higher credit. With 700 or higher you can also bring 12.5% for 9.75% and 1% origination, or 15% for the Best Rate program at 8.99% to 9.49% and 0.5% origination. 100% financing, no down payment, runs 11.75% with 3% origination and a 70% ARV cap. Closing costs are on top: on a $160,000 flip with a $48,000 rehab, 5% down is $8,000 and cash to close is $21,543. 5% down and 100% financing are for properties within about 30 to 40 miles of Houston, Dallas-Fort Worth, San Antonio or Austin.

Can a first-time investor get a fix and flip loan with 5% down?

Yes. No experience is required on the 5% Down program. A first flip at 700 or higher credit prices at 11.49% with 2% origination, 660 to 699 at 12.49%, and 590 to 659 at 12.99%. Every completed flip moves the rate down, and a 760 or higher borrower who has finished a couple of deals gets to 9.99%. What a first-time flipper has to show is the down payment, closing costs, and proof of funds for part of the rehab and six months of interest.

Does the loan pay for the rehab?

Yes, 100% of the rehab budget. It isn’t wired at closing: the lender holds it back and releases it in draws as each phase is completed and inspected. On a standard-interest loan you pay interest on what has actually been drawn, so the payment starts on the purchase and grows with the work.

How much cash do I need to close on a fix and flip in Texas?

On a $160,000 purchase with a $48,000 rehab at 700 credit, the 5% Down program comes to $21,543: $8,000 down, $4,749 in lender origination and doc prep, a $2,000 broker fee, $3,324 in Texas title, $1,976 insurance, a $550 appraisal and $944 prepaid interest. The lender also verifies $25,890 more in the bank, part of the rehab plus six months of interest, for $47,433 in proof of funds. The instant term sheet gives you your own version of that list.

What credit score do I need for a fix and flip loan?

590 for the 5% Down program, 650 for 100% financing, and 700 for the 12.5% Down and Best Rate programs. The Fastest Close program has no credit minimum: 11.99% with 2% origination, 10% down and a 6-month term, for deals where speed wins. Credit sets which programs you can use; experience moves the rate within them.

What does 75% of ARV mean on a flip loan?

The loan can’t be more than 75% of what the house is worth after the renovation, or 70% on 100% financing. On 5% down the loan is 95% of the purchase plus the whole rehab, so the deal has to fit under that cap: $200,000 against a $210,000 cap on a $280,000 after repair value. If it doesn’t fit, the loan is capped and the difference is cash you bring.

How fast can a fix and flip loan close in Texas?

About 14 days is typical once the appraisal, title and insurance binder are ordered, and the Fastest Close program closes in as little as 72 hours. Texas title premiums are set by the state, so the title line on your term sheet is priced from your contract on day one.

Is 100% financing on a flip real?

Yes: 0% down on the purchase and 100% of the rehab, at 11.75% with 3% origination and 650 or higher credit. The catch is the cap. It stops at 70% of the after repair value instead of 75%, so on many deals you still bring cash. On the $160,000 example the cap leaves $12,000 to bring and $27,405 cash to close, more than the $21,543 on 5% down. It’s also a metro program, for properties within about 30 to 40 miles of Houston, Dallas-Fort Worth, San Antonio or Austin.

Is the $5,000 realtor commission on every term sheet?

Every fix and flip term sheet on the site carries a $5,000 realtor commission line by default, paid at closing to the agent or wholesaler who brought the deal. If nobody brought you the deal, the line comes off. Your earnest money deposit shows as a credit on the same sheet, so on the example on this page the two offset and cash to close is unchanged.

Who you’re working with

Founder & Mortgage Broker

Micah Foster

Micah brokers fix and flip, DSCR and new construction loans for real estate investors across 37 states, with most of his volume in Texas. He founded Capital Kings LLC to give investors a broker who shops the market on their behalf instead of pitching one lender product, and every term sheet he sends is itemized down to the last fee.

Send Micah your flip →

Keep reading

Before you make the offer

Ready to price your Texas flip?

Two minutes to an instant fix and flip term sheet. No credit pull, every fee on the page, the rehab funded in draws.

Get my flip terms →Call (281) 636-5682 Text Micah