Purchase + Rehab. One Loan.
A fix and flip loan in Killeen funds purchase and renovation in one short-term, asset-based loan — hard money, underwritten on the deal and the after-repair value rather than your income. The Killeen specifics: Cosmetic flips on 1980s–2000s stock in Harker Heights and South Killeen. Leverage, rehab caps and experience rules vary more between lenders than any other criterion, which is why LendingStreet places the file across thirty capital sources instead of one.
Check My Killeen Purchase & Rehab Options →The stock is post-war and newer single-family built for a military tenant base, with steady turnover on the PCS cycle. Cosmetic flips on 1980s–2000s stock in Harker Heights and South Killeen. Exit is typically to another investor or a VA buyer, which affects the ARV comparable set.
Texas is non-judicial. Killeen is a military rental market almost entirely — tenant demand is reliable, turnover is predictable and seasonal, and vacancy tracks deployment cycles. Some capital sources treat that as a positive; a few discount for concentration. Property taxes are high.
Standard ranges across our capital sources: $150,000 to $5M+, up to 95% of total project cost, up to 100% of the rehab budget in draws, 6 to 18 months interest-only, 5 to 10 business days to close with 5-day expedited for experienced investors. Full detail and the current rate floor are on the fix and flip loan page. First-time flippers generally see lower leverage.
The Killeen–Temple metro — Killeen plus Temple, Harker Heights, Copperas Cove, Belton and Nolanville — and the rest of Texas via the Texas fix and flip page. The active rehab corridors in Killeen include Harker Heights, South Killeen, Belton, Temple near the hospital.
Size the loan and the cash to close in the ARV calculator, add the carry in the carrying costs calculator, and build the budget in the rehab cost estimator.
Also see: Austin, TX →Houston, TX →
The gap between the loan and total project cost, plus points, third-party costs and the rehab you carry between draws. The ARV calculator returns it for your numbers.
Yes, through sources that write them — lower leverage, licensed GC attached.
5 to 10 business days on a complete file; 5-day expedited for experienced investors. A BPO in lieu of appraisal is available on bridge structures.
Yes — fix-to-rent. Separate underwrite on rent and appraised value. Run it before you buy.
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By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.