Does a fix and flip loan cover the rehab costs?
Yes — Silt's fix and flip program funds up to 100% of the approved rehab budget, released through draws as the work is completed rather than at closing. The purchase portion is funded at closing, and the renovation money is held back and paid out in stages: you submit photos and invoices through the app, the work is checked against the approved budget, and each draw is funded in 48 hours. The total loan is still capped at 90% of combined purchase and rehab cost and 70% of after-repair value, so on a tight deal the rehab funding fits inside the overall limit rather than on top of it. Because draws reimburse completed work, you or your contractor need enough cash to start each phase before it is paid. A detailed, line-item budget with contractor bids is the single most useful document in a rehab file, and it is what every draw is measured against.
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Last reviewed 19 October 2026 · Terms are illustrative, not a commitment to lend; every loan is subject to underwriting.