The lowest rate is not always the cheapest loan. On a Utah flip, the right lender depends on how long you will actually hold the property.
In short: There is no single best fix and flip lender in Utah. The right one has the lowest total cost over your real timeline, enough leverage on purchase and rehab, quick draws and experience rules you meet. LendingStreet finances investment property in Utah, with 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. Compare offers by adding interest and all lender and closing costs in dollars for the number of months you expect to hold.
Flippers along the Wasatch Front work with local private lenders, banks and national programs such as Kiavi, CoreVest and LendingOne, as well as LendingStreet. Rates, costs, draw rules and leverage tiers differ.
Because offers are built differently, the only fair comparison is total dollars on the same deal and the same timeline.
Our fix and flip loans run from $150,000 to $5M+, with terms typically 12 to 18 months and rates from 9.99% for qualified borrowers. A complete file can close in as little as 10 days.
We finance up to 90% of the purchase price and up to 100% of the approved rehab budget, released in draws after each phase is completed and inspected. Experience improves pricing and leverage, and first-time flippers can qualify on some programs, usually at lower leverage. Our financing team reviews your scenario and comes back with 2 to 3 options.
This example is illustrative and not a quote. An investor buys an older Ogden brick bungalow for $250,000 with $75,000 of rehab and an after-repair value of $420,000. Both offers lend 90% of purchase plus 100% of rehab, a $300,000 loan, about 71% of ARV, with interest on the full balance.
Offer A has a 10.2% sample rate ($2,550 a month) and sample lender and closing costs of $12,500. Offer B has an 11.4% sample rate ($2,850 a month) and sample costs of $9,500. Offer B costs $300 more a month but $3,000 less up front, so the two break even at 10 months. Finish sooner and B is cheaper. Run longer and A wins.
| Months held | Offer A total | Offer B total | Cheaper offer |
|---|---|---|---|
| 5 | $25,250 | $23,750 | B by $1,500 |
| 10 | $38,000 | $38,000 | Even |
| 12 | $43,100 | $43,700 | A by $600 |
Salt Lake City has older neighborhoods such as Sugar House, the Avenues and areas west of downtown with brick bungalows and early 1900s homes. Ogden, to the north, has a large stock of older brick homes at lower prices. Provo and Orem, home to Brigham Young University and Utah Valley University, have strong demand from a young population.
St. George, in the far southwest, has hot summers and a lot of newer construction. Logan, home to Utah State University, is a smaller market in the north. In each area, use recent comparable sales to set the after-repair value.
Utah's older homes and geography bring a few recurring items. Price them before you set your offer.
Permits are handled by each city, and timing differs between Salt Lake City and smaller suburbs. Confirm timing for your scope with the local building department before you close.
Winter snow can slow exterior work along the Wasatch Front, while St. George's heat can make midsummer exterior work harder. As the example shows, every extra month changes which loan is cheaper, so build a realistic schedule first.
Send the address, contract, line-item scope with bids, comparable sales, bank statements for down payment and reserves, LLC documents and your project history. Include your expected timeline by month.
With your timeline in hand, we can show what each option costs over the months you plan to hold, not just the rate.
Yes. LendingStreet finances investment property in Utah, including Salt Lake City, Ogden, Provo, Orem, St. George and Logan. Loans are business-purpose on non-owner-occupied property, from $150,000 to $5M+.
No. A lower rate with higher up-front costs can cost more on a short project. Add interest and all lender and closing costs for your expected timeline.
It depends on the deal and your timeline. Kiavi, CoreVest, LendingOne and LendingStreet all finance flips in Utah. Compare total cost on the same property.
It is not always required, but radon occurs in parts of the state and many buyers ask. Testing early avoids surprises at sale.
Yes, on some programs, usually at lower leverage. A solid contractor, a detailed scope and reserves help.
Yes. A DSCR loan can pay off the short-term loan once the home is renovated and leased.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
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