Fix-and-flip loans in WichitaPurchase and rehab funded in one loan, closed in as little as 3 days
Prairie Stone Lending funds Wichita-area flips up to 70% of after-repair value, covering as much as 100% of your purchase price and rehab budget. No minimum credit score and no income verification. We lend on the deal.
What a flip loan covers
One short-term loan for the whole project. We fund the purchase at closing and hold the rehab money in reserve, then release it in draws as the work gets done.
- Loan amount
- Up to 70% of after-repair value
- Purchase
- Funded at closing
- Rehab
- Released in draws as work is completed
- Credit and income
- No minimum score, no income verification
- Speed
- Pre-approval in about an hour, close in as little as 3 days
- Rate and term
- Check my deal
How the 70% rule works on a flip
We value the finished house from closed sales nearby. If your purchase plus rehab fits under 70% of that value, we can fund all of it.
Example: fully funded
- Purchase
- $90,000
- Rehab
- $40,000
- After-repair value
- $200,000
We fund 100% of the $130,000.
Example: some cash in
- Purchase
- $90,000
- Rehab
- $40,000
- After-repair value
- $165,000
We fund $115,500. You bring $14,500.
Examples for illustration only. Not a loan approval; final terms are set in underwriting. Closing costs are the borrower's responsibility.
A good fit if you
- Have a house under contract and need to close fast
- Would rather keep your cash for the next deal
- Don't want a bank digging through your tax returns
- Plan to sell within a few months of finishing
Flip loan questions
Can I get a flip loan with bad credit?
Yes. We don't have a minimum credit score and we don't verify income. Our flip loans are 100% asset-based, sized by the property's after-repair value.
Do you fund the rehab, or just the purchase?
Both. The purchase is funded at closing and the rehab is held in reserve, then released in draws you request from your client portal.
How do you decide the after-repair value?
From closed sales of comparable homes near your property. We stay inside the range of what has actually sold, and we lend against the conservative end of it.
What if my flip takes longer than planned?
Extensions are available with our approval. Reach out before your maturity date and we'll walk through the options.