Kansas Fix and Flip Loan
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Last Updated: April 11, 2025
Welcome to OfferMarketās Fix and Flip Loan Program, designed specifically for real estate investors in Kansas! Whether youāre flipping homes in Kansas City, working on a project in Wichita, or exploring opportunities in rural Kansas, our program gives you the financing you need to make your next project a success. Letās break down how our loan program works and show you how you can make the most of Kansasā real estate market.
Why a Fix and Flip Loan in Kansas Is a Smart Investment
Kansas offers a unique real estate investment opportunity, with its diverse markets and a steady economy. Whether youāre targeting a home in the heart of Kansas City or a rural flip in towns like Topeka or Lawrence, the stateās affordable property prices and potential for appreciation create an ideal environment for fix-and-flip investments.
Kansas benefits from a strong agricultural economy, growing urban areas, and an expanding job market, all of which contribute to a rising demand for both housing and rental properties. The state has historically shown stable property values, making it an attractive destination for real estate investors looking for long-term returns.
With the right financing, you can turn your fix-and-flip goals into reality in Kansas. OfferMarketās Fix and Flip Loan program provides you with the capital, flexibility, and support you need to make your projects successful.
What You Get with OfferMarketās Fix and Flip Loan in Kansas
At OfferMarket, we offer a flexible and comprehensive loan program tailored to your needs as a real estate investor in Kansas. Hereās everything you need to know about how our program works:
1. Loan Amount Details
Minimum Loan Amount: $25,000 ā Ideal for smaller, quicker flips.
Maximum Loan Amount: $2,000,000 ā Larger projects require 3+ years of experience and strong comparable sales (comps).
How It Works: The loan size is based on the purchase price, rehab budget, and After Repair Value (ARV), ensuring that you have the funding you need to complete your project.
2. After Repair Value (ARV) Requirements
Minimum ARV: $100,000 ā Ensures your project remains profitable.
Maximum Loan-to-ARV (LTARV): Up to 75% ā Adjusted based on your experience. Beginners may qualify for 70% for lighter rehabs, while experienced investors can get up to 75% for moderate rehabs.
Valuation: We use appraisal reports (e.g., 1004 + 1007 for single-family homes) or in-house valuations for quick and accurate ARV estimates in Kansasā market.
3. Funding Breakdown
Initial Advance: Up to 90% of the purchase price, based on your experience tier. Beginners receive 80%, while seasoned investors qualify for 90%. Adjustments are made for credit scores below 720 or for licensed contractors (+10%).
Construction Holdback: Up to 100% of rehab costs, disbursed through self-serve, app-based draw requests, with a 0-2 day turnaround.
Down Payment: Minimum of $10,000 required for properties under $100K.
Draws: No minimum or maximum for draws. For materials delivered but not yet installed, 50% of the cost is funded.
4. Interest Rates and Fees
Interest Rate: Flexible based on market fluctuations. For the most updated rate, contact us directly.
Origination Fee: 1.5 to 2 points (with a $2,000 minimum). For example, 2 points on a $100,000 loan equals a $2,000 fee upfront.
Other Fees: Draw fees of $270 per draw, wire fees of $30, and appraisal costs will be covered by you.
Interest Accrual: Loans under $100K accrue interest on the full amount, while loans over $100K accrue interest only on the funds disbursed.
5. Loan Term
Duration: Standard loan term is 12 months, with options for 18-24 months for specific projects.
Extensions: Up to 50% of your loan term (e.g., 6 months on a 12-month loan) for a fee of 1% for 3 months or 2.5% for 6 months.
6. Repayment Structure
Payments: Interest-only payments with a balloon payment due at maturity, helping you maintain cash flow throughout the project.
Prepayment Penalty: None. You can pay off your loan early without incurring additional charges.
Recourse: Full recourse with 51% of your LLC or Corporation guaranteeing the loan for purchases (100% for refinances).
7. Exit Strategy Requirements
Sale: Minimum 30% return on investment (ROI) and $15,000 profit upon sale.
Refinance: A minimum debt service coverage ratio (DSCR) of 1.1 post-repair for refinancing.
Flexibility: You can switch between flipping or renting depending on the market conditions in Kansas, giving you flexibility in your investment approach.
8. Eligibility Criteria
Experience: Not required. Beginners start at Tier 1 (80% advance), while pros at Tier 5 (90%) based on 10+ completed projects.
Credit Score: A minimum of 680 is required (exceptions for scores between 660-679).
Borrowing Entity: Must be an LLC or Corporation.
Cash Reserves: You must have enough cash to close, plus 25% of your rehab budget in liquid assets (bank, brokerage, or retirement accounts).
9. Project and Property Requirements
Eligible Properties: 1-4 unit residentialāsingle-family (ā„700 sq ft), duplex/triplex/quadplex (ā„500 sq ft per unit), condos (ā„500 sq ft), townhomes, and PUDs.
Maximum Acreage: Up to 5 acresāgreat for rural Kansas flips.
Rehab Scope: Light (under 25% of the purchase price) to extensive (100%+ of purchase price). Beginners are limited to light/moderate rehabs.
Location: We lend in Kansas, excluding AK, AZ, HI, MN, ND, NV, OR, SD, UT, VT. Rural areas get a -20% advance adjustment and require 3+ years of experience.
10. Risk and Approval Process
Underwriting: We assess ARV, rehab scope, your experience, and market conditions (e.g., Kansas City comps or rural market conditions).
Valuation: Appraisal or in-house valuation depending on your project.
Approval Timeline: Draws take 0-2 days, and initial funding is based on how quickly you submit your documents. We ensure a quick and efficient process.
Default Rate: Less than 0.5% of our loans have ever defaulted. Your success is our priority.
11. Support and Flexibility
Guidance: As your deal advisor and risk manager, we offer rehab calculators and scope advice tailored to Kansas projects.
Rehab Oversight: Self-serve draw inspections keep you in control and make it easier to manage your project.
Advanced Draws: At our discretion, we ensure you're funded as needed throughout the rehab process.
12. Transparency and Fine Print
Sample Costs: For a $150,000 Kansas property, expect the following:
Origination Fee (2 points): $2,000
Draw Fee: $270 per draw
Wire Fee: $30 per wire transfer
Rehab Costs: Up to 100% of the rehab budget available.
Hidden Costs: Draw fees, wire fees, and extension fees are all disclosed upfront.
Rural/Complex Terms: Rural Kansas flips will have a -20% advance adjustment, and extensive rehabs may be capped at 70% LTARV or 85-90% Loan-to-Full-Cost (LTFC).
How You Can Profit from Kansas Real Estate
Letās take a look at an example in Kansas City, Kansas, to illustrate how the OfferMarket Fix and Flip Loan Program works:
Purchase Price: $180,000
Rehab Budget: $50,000
After Repair Value (ARV): $270,000
With a loan-to-ARV of 75%, you could qualify for up to $202,500 in financing. Here's how the loan breaks down:
| Loan Structure | Amount |
|---|---|
| Loan Amount (75% of ARV) | $202,500 |
| Upfront Funding (90% of purchase price for experienced investors) | $162,000 |
| Down Payment | $18,000 |
| Rehab Funds | $50,000 |
Once the property is renovated and sold for $270,000, youāll pay back the loan and keep your profit after deducting rehab costs, fees, and other expenses. Depending on the final sale price and your expenses, this could result in a significant return on your investment.
Why Choose OfferMarket for Your Fix and Flip Loan in Kansas?
Competitive Terms: We offer up to 90% funding on your fix-and-flip projects, ensuring you have the capital you need to succeed, no matter the size of the property.
Flexible Repayment Options: With interest-only payments and no prepayment penalties, you can maintain your cash flow and pay off the loan when it's convenient for you.
Quick and Efficient Processing: Our fast approval process and draw requests processed in 0-2 days ensure you get the funds on time, so your projects stay on schedule.
Expert Support: From financing to rehab advice, our experienced team will guide you through every step of your project, helping you make informed decisions along the way.
Transparent Fees: We believe in full transparency. All fees, including draw and wire fees, are clearly outlined upfrontāno hidden costs.
Proven Success: With a default rate of less than 0.5%, we have a history of helping investors successfully complete projects and make profitable returns.
Exit Flexibility: Whether you plan to flip or rent, our program offers the flexibility to adapt to Kansasā market conditions.
Choose OfferMarket for your next fix-and-flip loan in Kansas, and let's turn your real estate goals into reality!
Kansas Fix and Flip Loan: Documentation Requirements
To ensure a smooth and efficient loan approval process, we require specific documentation. These documents help us evaluate your project thoroughly and ensure compliance with the loan terms. Below are the key documents required for both purchase and refinance transactions in Kansas.
Purchase Transaction Requirements
For all purchase transactions in Kansas, the following documents are required:
| Loan File Section | Document |
|---|---|
| Purchase Contract | Fully executed by buyer and seller. |
| Credit Report | Soft tri-merge credit report for each member of the borrowing entity that will be a guarantor. |
| Background Report | Required for each member of the borrowing entity. |
| Track Record | Required for each member of the borrowing entity. |
| ID Verification | Government-issued ID (e.g., driver's license, passport, Green Card). |
| Borrowing Entity | Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9. |
| Scope of Work | A detailed rehab budget that will be used to determine ARV. |
| Appraisal Report | You will be provided with a link to pay your appraisal invoice. Your appraisal will be uploaded to your loan file. |
| Bank Statements | Two (2) most recent statements for each guarantor. Accounts may be personal (bank, brokerage, retirement) and do not need to be in the name of the borrowing entity. |
| Letter of Explanation | If requested by underwritingāfor example, for large deposits, late payments, or background items. |
Refinance Transaction Requirements
For refinance transactions in Kansas, we require similar documentation:
| Loan File Section | Document |
|---|---|
| Settlement Statement | Fully executed by buyer and settlement agent. |
| Credit Report | Soft tri-merge credit report for each member of the borrowing entity that will be a guarantor. |
| Background Report | Required for each member of the borrowing entity. |
| Track Record | Required for each member of the borrowing entity. |
| ID Verification | Government-issued ID (e.g., driver's license, passport, Green Card). |
| Borrowing Entity | Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9. |
| Sunk Costs | The line items and associated costs that have already been incurred. |
| Scope of Work | Your detailed rehab budget that will be used to determine ARV and guide your rehab of the property. |
| Appraisal Report | You will be provided with a link to pay your appraisal invoice. Your appraisal will be uploaded to your loan file. |
| Bank Statements | Two (2) most recent statements for each guarantor. Accounts may be personal (bank, brokerage, retirement) and do not need to be in the name of the borrowing entity. |
| Letter of Explanation | If requested by underwritingāfor example, for large deposits, late payments, or background items. |
Special Requirements for Loans Over $1M
Loans above $1M (up to the $2M maximum) come with additional requirements to ensure that the project is viable and that the borrower has the necessary experience and financial strength.
| Criteria | Explanation |
|---|---|
| Experience | Minimum experience of 3 similar or greater price point projects strongly preferred. |
| Market Liquidity | Minimum of 3 comps within a 2-mile radius sold on the MLS in the last 6 months. |
| Credit Score | Minimum 680, with a minimum of 5 trade lines with a 24-month history. |
| Rural Designation | Not eligible if the property is designated as rural by the CFPB and USDA or the appraisal report. |
| Track Record | Required for each member of the borrowing entity. |
Glossary of Key Terms
| Term | Definition |
|---|---|
| ADU | Accessory Dwelling Unit. A secondary housing unit on the same parcel as the main home. |
| Arms-Length | A transaction between independent parties, ensuring fair market value. |
| Non-Arms-Length | A transaction where a personal or business relationship may affect fairness or pricing. |
| Initial Advance | The portion of the total loan amount that goes toward the property purchase. |
| Construction Holdback | The portion of the total loan that will cover rehab costs. |
| LTARV | Loan-to-After-Repair Value. Ratio of loan amount to propertyās estimated value after rehab. |
| LTC | Loan-to-Cost. Ratio of loan amount to the combined purchase and rehab costs. |
| LTFC | Loan-to-Full-Cost. Ratio of the total loan amount to total cost, including both purchase price and rehab. |
Get an Instant Fix and Flip Loan Quote in Kansas
OfferMarket is your trusted partner for real estate investing in Kansas. Our Fix and Flip loan program is tailored to offer the financial flexibility and competitive rates needed to succeed in your real estate projects.
Are you ready to take your real estate investments to the next level? OfferMarket is your trusted partner for fix-and-flip projects in Kansas. Request your loan today, and letās get started on making your next flip a success!
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