Purchase + Rehab. One Loan.
A fix and flip loan in Waco 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 Waco specifics: Cottage and bungalow flips in Castle Heights, Sanger Heights and East Waco are the signature product. 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 Waco Purchase & Rehab Options →The stock is pre-war bungalows and cottages near Baylor and in Castle Heights, post-war ranches across the city, and a student rental base. Cottage and bungalow flips in Castle Heights, Sanger Heights and East Waco are the signature product. Pier-and-beam foundations and knob-and-tube in the pre-war stock are standard scope.
Texas is non-judicial. Waco has drawn national renovation-television attention that pushed cottage-flip activity and pricing in specific neighborhoods well ahead of the broader market — comparable selection matters more here than in most Texas metros. Property taxes are high.
Pre-war stock in Waco means the scope is rarely what the walkthrough suggests. Budget for the mechanicals — wiring, supply lines, drain lines — before the finishes, and expect the inspector to find what the seller did not disclose.
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 Waco metro — Waco plus Woodway, Hewitt, Robinson, Bellmead and Lorena — and the rest of Texas via the Texas fix and flip page. The active rehab corridors in Waco include Castle Heights, Sanger Heights, Brook Oaks, East Waco, Baylor area.
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.
Pier-and-beam foundations and knob-and-tube in the pre-war stock are standard scope. Budget contingency for it.
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.
No credit pull. No commitment. Speak with a licensed financing firm with direct access to 30+ capital sources.
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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.