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Oklahoma Fix and Flip Loan

Apply for a Fix and flip loan in Oklahoma

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Last Updated: April 14, 2025

Are you ready to tap into Oklahoma's burgeoning real estate market? Whether you’re flipping homes in the lively hubs of Oklahoma City, Tulsa, or Norman, or targeting charming properties in smaller towns like Edmond and Stillwater, OfferMarket’s Fix and Flip Loan Program is designed to help you transform your investment ideas into profitable projects. We provide fast, reliable, and competitively priced capital to support the purchase and renovation of residential properties—catering to both newcomers and seasoned investors alike.

Let’s explore how our program works in Oklahoma, why now is a great time to dive into the market, and how OfferMarket’s financing can drive your next successful project.

What is a Fix and Flip Loan?

A Fix and Flip Loan—commonly known as a "hard money loan" or "bridge loan"—is engineered to help you acquire and rehabilitate properties with the intent to either sell for a profit or refinance them into rental units. At OfferMarket, your loan is composed of two main parts:

Initial Advance: Up to 90% of the purchase price—transferred directly to the title company at closing.
Construction Holdback: Up to 100% of your rehabilitation costs—released through draw reimbursements as work advances.

The best part? You decide on your exit strategy—whether to flip quickly for a profit or refinance into a rental property. With market conditions always in flux, a flexible exit approach is your ticket to adapting as needed.

Why Oklahoma’s Real Estate Market Is Ideal for Fix and Flip Projects

Oklahoma offers a balanced and growing real estate market. From the urban energy of Oklahoma City to the historic charm of Tulsa and emerging markets in smaller communities, the state provides opportunities for every type of investor. Consider these key factors that make Oklahoma an attractive destination for fix-and-flip projects:

Robust Economic Environment: With thriving sectors such as energy, aviation, manufacturing, and healthcare, Oklahoma’s stable job market supports a strong demand for renovated homes.
Growing Rental and Resale Markets: A steady influx of new residents and young professionals drives continuous demand for quality rental properties and fuels a healthy resale market.
Variety of Property Types: Whether you’re looking at single-family homes, duplexes, or multi-unit buildings, Oklahoma’s diverse property inventory suits both first-time flippers and experienced developers.

Whether you’re eyeing a property in downtown Oklahoma City or planning a rural flip in the scenic outskirts, OfferMarket's Fix and Flip Loan is your key to success in the Sooner State.

What You Get with Our Fix and Flip Loan Program in Oklahoma

Below is a detailed breakdown of what you can expect when you choose OfferMarket for your next fix and flip project in Oklahoma. Every element is designed to give you clear, straightforward information so you can proceed with confidence.

1. Loan Amount Details

Criteria	Details
Minimum Loan Amount	$25,000
Maximum Loan Amount	$2,000,000
How It’s Determined	Based on the purchase price, rehabilitation budget, and ARV (After Repair Value). Our loans ensure you have sufficient capital for every facet of your project.

2. After Repair Value (ARV) Requirements

Minimum ARV: $100,000 — set to ensure profitability.
Maximum Loan-to-ARV (LTARV): Up to 75%, with adjustments based on experience.
- 70% for more complex rehabs or less seasoned investors.
ARV Calculation:
We utilize appraisal reports or in-house valuations to quickly and accurately estimate your property’s post-renovation value.

3. Funding Breakdown

Funding Component	Details
Initial Advance	Up to 90% of the purchase price (80% for beginners, 90% for experienced investors).
Construction Holdback	Up to 100% of rehab costs, disbursed through self-serve draw requests.
Down Payment	Minimum $10,000 required for properties under $100K.
Draw Schedule	Flexible with no minimum or maximum number of draws. For instance, 50% funding for materials delivered yet to be installed.

4. Interest Rate and Fees

Fee	Amount
Interest Rate	Market-based, tailored for each individual deal.
Origination Fee	1.5% to 2 points (with a $2,000 minimum).
Other Fees	$270 per draw; $30 wire fee; appraisal costs are borne by the borrower.
Interest Accrual	Loans under $100K: Accrue on the full amount. Loans over $100K: Accrue only on funds disbursed.

5. Loan Term

Duration: Standard term of 12 months, with potential extensions to 18–24 months for projects that require additional time.
Extensions:
Up to 50% of the original term (for example, 6 extra months on a 12-month loan).
Extension Fees:
1% for the first 3-month extension, 2.5% for a 6-month extension.

6. Repayment Structure

Payment Type: Interest-only payments with a balloon payment at the end of the term.
Prepayment Penalty: None—early repayment incurs no penalties.
Recourse: Full recourse is required, with 51% of the borrowing entity’s value for purchases and 100% for refinancing.

7. Exit Strategy Requirements

Sale:
- Minimum 30% ROI.
- At least $15,000 in profit.
Refinance:
- Minimum 1.1 DSCR (Debt Service Coverage Ratio) post-repairs.
Flexibility:
Flip or refinance based on evolving market conditions—our program supports both strategies in Oklahoma’s dynamic real estate arena.

8. Eligibility Criteria

Criteria	Details
Experience	Not mandatory. Beginners begin at Tier 1 (80% advance), while experienced investors can progress to Tier 5 (90%).
Credit Score	680 minimum, with room for exceptions for scores between 660-679.
Borrowing Entity	Must be structured as an LLC or Corporation.
Cash Reserves	Cash to close plus 25% of the rehab budget in liquid assets is required.

9. Project and Property Requirements

Requirement	Details
Eligible Property Types	1-4 unit residential properties (including single-family homes, duplexes, triplexes, quadplexes, condos, townhomes, and PUDs).
Minimum Square Footage	Single-family: ≥ 700 sq ft; 2-4 unit: ≥ 500 sq ft per unit; Condo: ≥ 500 sq ft.
Maximum Acreage	5 acres—ideal for rural flips in Oklahoma.
Rehab Scope	Light, moderate, heavy, and extensive rehab scopes permitted based on investor experience.

10. Risk and Approval Process

Underwriting: We evaluate ARV, rehab scope, market conditions, and credit to determine the optimal financing for your project.
Valuation: Either an appraisal report or an in-house valuation is required to set the ARV.
Approval Timeline:
- Draw approvals in 0–2 days.
- Initial funding is determined by the speed of documentation submission—OfferMarket ensures a swift and efficient process.
Default Rate: Fewer than 0.5% of our loans have ever defaulted, underscoring our commitment to your success.

11. Support and Flexibility

Guidance: Our experienced deal advisors assist you throughout the process, offering access to rehab calculators and expert advice.
Rehab Oversight: App-based draw inspections provide transparency and control over each stage of the project.
Advanced Draws: Draws are discretionary and approved as needed to ensure you receive funding exactly when you require it.

12. Transparency and Fine Print

Sample Costs:
For a $185,000 Oklahoma property, an experienced investor (Tier 4) might incur approximately $15,860 in interest over 9 months, along with total fees of about $2,300.
Hidden Costs:
All fees—including draw fees ($270), wire fees ($30), and extension fees—are fully disclosed upfront.
Rural and Complex Projects:
Projects in rural areas may receive a 20% reduction in advance and require 3+ years of investor experience.

Example: Flipping a $185,000 Property in Oklahoma with OfferMarket

Let’s walk through a real-world scenario in Oklahoma:

Purchase Price: $185,000
Rehab Budget: $45,000 (moderate scope, approximately 24% of the purchase price)
ARV: $275,000 (determined based on local market comparables)
Your Profile: Experienced Investor (Tier 4) with a 720 credit score

Loan Breakdown:

Loan Component	Amount
Initial Advance	90% of purchase price = $166,500
Construction Holdback	100% of rehab costs = $45,000
Total Loan Amount	$211,500
Down Payment	$18,500
Interest Rate	10% (market quote)
Interest (9 Months)	Approximately $15,860 (accrued on the total loan amount)
Fees	$2,000 origination, $270 draw fee, $30 wire fee (total ≈ $2,300)

Profit Calculation:

Sale Price (ARV): $275,000
Profit:
$275,000−$185,000 (purchase)−$45,000 (rehab)−$15,860 (interest)−$2,300 (fees)≈$26,840\$275,000 - \$185,000\ (purchase) - \$45,000\ (rehab) - \$15,860\ (interest) - \$2,300\ (fees) \approx \$26,840$275,000−$185,000 (purchase)−$45,000 (rehab)−$15,860 (interest)−$2,300 (fees)≈$26,840

With a robust ROI, this example illustrates that OfferMarket’s financing is well-suited for Oklahoma’s fix-and-flip opportunities.

Required Documentation for Fix and Flip Loans

At OfferMarket, we’re dedicated to keeping the loan process seamless and efficient. Our secure Loan File system stores your documentation within your OfferMarket account for quick, organized future applications. Below is the documentation checklist for both purchase and refinance transactions to ensure speedy approvals.

Purchase Transaction Requirements

Required Document	Details
Purchase Contract	Fully executed by both buyer and seller.
Credit Report	A soft tri-merge credit report for each member of the borrowing entity acting as 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, or similar).
Borrowing Entity Documents	Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, and W-9.
Scope of Work	A detailed rehab budget used to calculate ARV.
Appraisal Report	A link to pay for the appraisal invoice will be provided; the appraisal is then uploaded to your loan file.
Bank Statements	The two most recent statements for each guarantor. Personal accounts (bank, brokerage, retirement) are acceptable.
Letter of Explanation	Provided if requested by our underwriting team (e.g., for large deposits, late payments, or background issues).

Refinance Transaction Requirements

Required Document	Details
Settlement Statement	Fully executed by both buyer and settlement agent.
Credit Report	A soft tri-merge credit report for each member of the borrowing entity acting as 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, or similar).
Borrowing Entity Documents	Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, and W-9.
Sunk Costs	Detailed line items and the associated costs already incurred.
Scope of Work	A detailed rehab budget to calculate ARV and direct rehab work.
Appraisal Report	A link to pay the appraisal invoice will be provided; the report is then uploaded to your loan file.
Bank Statements	The two most recent statements for each guarantor. Personal accounts (bank, brokerage, retirement) are acceptable.
Letter of Explanation	Provided if requested by our underwriting team (e.g., for large deposits, late payments, or background items).

Special Requirements for Loans Over $1M

For loans exceeding $1M (up to the $2M cap), adjusted guidelines apply due to the elevated stakes. Here’s what’s necessary to qualify:

Criteria	Explanation
Experience	Minimum of 3 completed projects, preferably at similar or higher price points.
Market Liquidity	At least 3 comparable sales within a 2-mile radius, sold on the MLS within the past 6 months.
Credit Score	A minimum of 680 FICO with at least 5 trade lines and a 24-month credit history.
Rural Designation	Not eligible if categorized as rural by the CFPB and USDA or per the appraisal report.
Track Record	Required for each member of the borrowing entity.

Why This Documentation Matters:

Having your paperwork in proper order ensures swift, accurate loan processing. This results in faster approvals, smoother funding, and positions you for success in your fix-and-flip venture. With OfferMarket, you sidestep lengthy approval processes, as your documents are securely stored for any future applications.

Why Choose OfferMarket for Fix and Flip Loans

At OfferMarket, we’re more than just a lender—we’re your strategic partner in real estate wealth-building. With an exceptional default rate of under 0.5% across our lending portfolio, we’re fully committed to the success of investors like you. Here’s what distinguishes us:

Expert Risk Management:
We offer structured guidance to ensure every deal is a strategic win.
Flexible Financing:
Loan terms are customized to suit your project, featuring competitive rates and a variety of options.
Comprehensive Support:
From expert loan advice to detailed rehab planning, our team supports you at every step.
Fast Funding:
Rapid approvals and quick disbursement mean you can get started on your project immediately.

Key Features of Our Fix and Flip Loans

Feature	Details
Loan Amounts	$25,000 to $2,000,000—ideal for projects of any size.
High Leverage	Financing up to 90% of the purchase price and 100% of rehab costs, with a maximum of 75% LTARV.
No Experience Required	Accessible for new investors, with higher leverage available for seasoned flippers.
Fast Funding	Swift initial advances and rapid draw processing (0–2 business days) for construction expenses.
Flexible Terms	Loan durations ranging from 12 to 24 months, with no prepayment penalties.
Tailored Risk Management	Experience tiers and rehab scope requirements ensure projects remain manageable.
Nationwide Reach	Available across the United States, with local market expertise tailored to Oklahoma.
Transparent Costs	Competitive rates, 1.5–2 points, and no hidden fees.

Ready to Flip in Oklahoma? Request Your Loan Now!

Oklahoma’s real estate market is primed for your next fix-and-flip endeavor. With OfferMarket’s Fix and Flip Loan Program, you receive the capital, expert guidance, and flexible terms essential for success. Our streamlined approval process, clear documentation, and rapid funding ensure you can launch your profitable investment right away.

Ready to take the next step? Start your loan application now and let us help you turn your fix-and-flip vision into a thriving reality in Oklahoma.

Thousands of real estate investors get value from OfferMarket every month. Membership is entirely free and includes the following benefits:

💰 Private lending
☂️ Insurance rate shopping
🏚️ Off market properties
💡 Market insights

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