California flips start at a high purchase price, so the loan is bigger and every month of interest costs more. The best lender for your deal is the one whose cost, leverage and draw schedule fit a large project.
In short: There is no single best fix and flip lender in California; the right one depends on your purchase price, rehab scope, experience and timeline. Compare total cost (rate plus lender and closing costs), how much of the purchase and rehab is financed, how fast draws are paid, how experience is counted, what an extension costs and how quickly the lender can close. LendingStreet finances investment property in California with fix and flip rates from 9.99% for qualified borrowers, up to 90% of the purchase price and up to 100% of the rehab budget paid in draws. Loans run from $150K to $5M+, which matters in a state where many projects land well above $500,000.
Kiavi, LendingOne and RCN Capital also finance fix and flip projects in California, alongside LendingStreet. Each sets its own rules on leverage, loan size, property type and how many past projects it wants to see.
The cleanest comparison is to send the same purchase price, rehab budget and after-repair value (ARV) to two or three lenders and line up the term sheets side by side. Because California loans are large, small differences in rate or closing costs turn into real dollars, so compare the full cost over your expected hold, not only the headline rate.
High basis changes which terms matter most. A slow draw on a $90,000 kitchen-and-bath scope can stall a crew, and a two-month delay on a $550,000 loan adds thousands in interest. Weigh these items together.
| What to compare | Why it matters in California |
|---|---|
| Total cost: rate plus lender and closing costs | Larger loans magnify every difference in rate and cost |
| Leverage: share of purchase and rehab financed | Up to 90% of purchase and up to 100% of rehab keeps more of your cash free |
| Draw speed | Crews and subs expect timely payment; slow draws push out the schedule |
| Experience rules | Some programs count only completed flips; others also count rentals or construction |
| Extension terms | Permit waits can run past a 12-month term |
| Closing speed | Competitive offers in Sacramento or the Inland Empire may need a fast close |
The Inland Empire, around Riverside and San Bernardino, has a large stock of older single-family homes at prices below the coastal counties, which makes it a common first market for flippers. Sacramento and its suburbs draw investors priced out of the Bay Area, and Fresno and the wider Central Valley offer some of the lower entry prices in the state.
Los Angeles County and San Diego carry the highest basis. Flips there often run well past $1 million in total cost, so leverage, interest carry and exit timing deserve extra attention. Any price in this section or the example below is illustrative; check recent comparable sales for your exact street.
Permits are issued by the city or, in unincorporated areas, the county. Review times vary widely, from same-day counter approvals for simple work to weeks or longer when plans need review. Structural changes, additions, ADUs and electrical panel upgrades usually take longer. Ask the local building department about current timing before you set your rehab schedule.
California requires contractors to hold a license from the Contractors State License Board (CSLB) for most jobs above a small dollar threshold. Lenders commonly ask for your contractor's license number and insurance, and you can look up a license on the CSLB website.
Transfer taxes also vary. Counties charge a documentary transfer tax, and some cities add their own, with higher rates on higher-priced sales in places like Los Angeles. Get an estimate from your title or escrow company and build it into your selling costs.
This example is illustrative and not a quote. An investor buys a three-bedroom house for $520,000 with a $90,000 rehab budget. The ARV is $760,000. The loan covers 90% of the purchase ($468,000) plus 100% of the rehab ($90,000), for $558,000, about 73% of ARV. Cash to close is the $52,000 down payment plus sample closing costs of $16,500, or $68,500.
At a sample rate of 10.75%, interest-only on the full $558,000, interest is about $4,999 a month. Over a 7-month hold that is about $34,991. Add $7,700 in other holding costs and sample selling costs of $45,600, including commissions and transfer taxes. The sale at $760,000 leaves a profit of about $45,209 before income taxes. Many programs charge interest only on funds drawn, which would lower the interest figure.
| Item | Amount |
|---|---|
| Purchase price | $520,000 |
| Rehab budget | $90,000 |
| Total loan (90% of purchase + 100% of rehab) | $558,000 |
| Cash to close (down payment + sample closing costs) | $68,500 |
| Interest, 7 months at sample 10.75% | About $34,991 |
| Other holding costs | $7,700 |
| Sample selling costs | $45,600 |
| Sale price (ARV) | $760,000 |
| Estimated profit | About $45,209 |
We offer fix and flip loans with rates from 9.99% for qualified borrowers and terms typically 12 to 18 months. We can finance up to 90% of the purchase and up to 100% of the rehab, with draws released after work is completed and inspected. We can close in as little as 10 days.
Experience helps pricing and leverage. First-time flippers can qualify on some programs, often at lower leverage. If you plan to keep the home as a rental, we also offer DSCR loans for the refinance. Our financing team reviews the scenario and comes back with 2-3 options.
Send the purchase contract, a line-item rehab budget and scope of work, your ARV with comparable sales, your contractor's CSLB license number and a list of completed projects. Add bank statements showing cash to close, interest reserves and money to fund the first phase before the first draw.
If the scope needs plan review, note it and include your expected permit timeline. That helps size the term and avoid an extension later.
Yes. LendingStreet finances fix and flip projects on non-owner-occupied investment property in California, from the Inland Empire and Sacramento to Los Angeles County and San Diego. Loans run from $150K to $5M+.
It depends on the deal. Kiavi, LendingOne, RCN Capital and LendingStreet all finance flips in California. Compare total cost, leverage, draw speed, experience rules and extension terms on the same project.
Even at up to 90% of purchase, you bring at least 10% of the price plus closing costs, interest reserves and money to fund work before each draw. On a high-priced California home, that is often a large dollar amount.
Many do. Expect to provide the contractor's CSLB license number and proof of insurance, especially on larger scopes.
Build the permit timeline into your term. If the project runs long, ask up front how extensions are priced and what conditions apply.
Yes, on some programs. First-time flippers often see lower leverage, and a detailed budget with a licensed contractor makes the file stronger.
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