Frequently asked questions.
The questions investors ask us most, answered plainly: how fast we decide and close, how much we lend, what it costs, how rehab draws work and where we lend. If yours is not here, call (443) 684-7997. There is no wrong question on a first deal.
Quick answers
Getting started
Who we are, who we lend to and how to begin.
Who is Property Flip Loan?
A private, direct hard money lender based in Annapolis, Maryland, lending to real estate investors since 2021. Founder Marc DeLeonibus lends his own capital, so the person you speak with on the first call is the person who makes the lending decision. There are no brokers or loan committees between you and an answer.
I've never flipped a house. Will you work with me?
Yes. First-time investors are a meaningful part of who we lend to. Experience affects how a deal is structured, not whether we will look at it. What matters most on a first project is realistic numbers and a clear plan for the work and the exit.
New to all of this? Start with hard money explained in plain English, then call with a property in mind.
Is there a minimum credit score?
No. There is no minimum credit score. We evaluate the deal, the plan and the borrower’s experience. Credit is one piece of context, not a cutoff, and a strong deal with a clear exit matters far more than a number.
Can I use a loan to buy a home I will live in?
No. All of our programs are business-purpose loans for investment and commercial property, not owner-occupied or consumer loans. If you are buying a primary residence, a conventional mortgage lender is the right call.
How do I apply, and what do you need from me?
The online application takes a few minutes: your contact details, the loan type, the property address, the purchase price, your estimated rehab budget and the after-repair value (ARV). You can also call (443) 684-7997 and talk the deal through first. Once we have seen the numbers, we tell you what else that specific deal needs.
Can you give me a proof of funds letter for an offer?
Yes. Fill out the application and you can receive a proof of funds letter the same day. It shows sellers and agents that your financing is lined up, which helps your offer compete.
Loan amounts and costs
How much we lend, what it costs and how it is repaid.
What is the smallest loan you make?
$100,000 is our minimum loan amount. The loans in our funded projects range from about $100K to $1M+.
How much will you lend on a deal?
Loans are sized at up to the lesser of 65–70% of the after-repair value (ARV) or 85% of loan-to-cost (LTC), depending on the deal. Both limits are checked and the lower one sets the maximum.
Example: ARV $300,000 × 65% = $195,000. Purchase + rehab + closing of $236,000 × 85% = $200,600. The lower figure, $195,000, is the guide.
How much cash do I need to bring?
The difference between the loan and your total project cost, plus the cash to carry the project until it sells or refinances: interest payments, insurance and utilities. In the example above, $236,000 of cost minus a $195,000 loan leaves $41,000, before carrying costs. A property bought well below market needs less cash than one bought at retail.
What are your rates and fees?
Pricing depends on the deal: leverage, property type, timeline and borrower experience all factor in. Loans are short-term and interest-only, with points paid at closing and no prepayment penalties. For your specific numbers, a quote is free and usually takes about a day.
What are the monthly payments like?
Loans are interest-only during the term, so each monthly payment covers interest and the principal is paid back in one go when you sell or refinance. That keeps payments lower while the property is being renovated. Interest-only in the glossary →
Is there a prepayment penalty?
No. We do not charge prepayment penalties. If your project sells in month four of a twelve-month term, you stop paying interest in month four.
How long is the loan term?
Fix & Flip and Fix & Hold loans run 6–12 months, interest-only. New construction terms are matched to the build schedule, and bridge loans are sized to the gap they cover.
Rehab money and draws
How renovation funding is released.
Do you fund the renovation, or just the purchase?
On Fix & Flip and Fix & Hold loans we fund up to 100% of the approved renovation budget, where applicable. If you would rather pay for the work yourself, Acquisition Only loans cover just the purchase.
How do draws work?
Rehab money is not handed over as a lump sum at closing. The approved budget is split into stages, and each portion is released as that work is completed and verified. Money moves with the work, which protects both sides and keeps the project on schedule. Draw schedule in the glossary →
What should my rehab budget include?
A line-by-line scope of work with materials and labor for each room or trade, permits, and a contingency for surprises behind the walls. The budget drives both the loan and your profit, so it is one of the first things we look at.
Speed and closing
How long things take, and how to make them faster.
How quickly will I know if you can fund my deal?
Most deals receive terms within 24 hours of us seeing the numbers, often sooner. Because we lend our own money, there is no committee to wait for.
How fast can you close?
In as little as 7 days once title work and documents are ready. The parts that take time are usually outside the lender’s hands: the title search, appraisals where required, and how quickly documents come back signed.
What can I do to close faster?
Have your numbers ready before you find the property (purchase price, scope and budget, ARV with recent comparable sales), choose a title company early, and return documents quickly. Our free guide, Top 8 strategies to close your hard money loan fast, covers the rest.
Properties and areas
Where we lend and what we lend on.
Where do you lend?
Maryland, Washington DC and Virginia. We lend across all of Maryland, and since 2021 we have funded loans from Baltimore City to the Eastern Shore. We underwrite with local market knowledge, because a Baltimore rowhome, an Anne Arundel rambler and a Prince George’s townhouse are three very different deals.
What types of property do you finance?
Investment property: single-family homes, rowhomes, townhomes, condos, multifamily, land and new construction lots. Our funded projects include everything from Baltimore rowhomes to land and even a marina.
Which loan program fits my project?
Start with what you are trying to do:
- Buy, fix and sell: Fix & Flip
- Fix it and keep it as a rental (BRRRR): Fix & Hold
- Build on a lot or tear-down: New Construction
- Cover a gap in timing: Bridge
- Purchase only, no rehab money: Acquisition Only
Paying it off
Selling, refinancing and what to do if plans change.
What if the property does not sell before the loan is due?
It is a solvable problem, and a common one. Options can include a price adjustment, an extension, a bridge loan to reach a better selling season, or refinancing into long-term rental financing and keeping the property. Whatever the situation, calling early rather than late makes every option easier.
Can I keep the property as a rental instead of selling?
Yes. That is the Fix & Hold (BRRRR) route: buy, renovate, rent it out, then refinance into a long-term rental loan that pays off our loan.
Can I come back for my next deal?
Yes, and we hope you do. Once we have worked together, the next review is usually quicker because we already know you and how you run a project.
Before you call, have these ready
With these six things in hand, a first call usually takes about ten minutes.
- The property addressAnd whether it is under contract yet.
- Purchase priceWhat you are paying, or plan to offer.
- Rehab scope and budgetA rough list by room or trade is enough to start.
- After-repair value (ARV)Ideally with two or three recent comparable sales.
- Your timelineWhen you need to close.
- Your exitSell it, or refinance and rent it out.
No numbers yet? Call anyway. Talking a deal through early is part of what we do. Unsure about a term? See the glossary.
Have a question that is not here?
That’s normal. Everyone does on their first deal. Call and talk directly with the person who makes the lending decision, or send the numbers for a free quote.
These answers describe how we usually lend and are for general information only. Every loan depends on the property, the plan and the borrower; nothing on this page is an offer of credit or a commitment to lend. Business-purpose loans for investment property only.