Fix and Flip Loans Built for Speed, Scale, and 100% Leverage

At Ternus, we don’t just provide fix-and-flip financing, we power your vision with up to 100% of the purchase price and 100% of the rehab budget. Our hard money loans are designed for real estate investors who need to move fast, close faster, and keep more capital in play. With funding decisions in 24 hours, no appraisals, and no credit checks on qualifying deals, Ternus removes the friction between you and your next flip.
Up to 100% LTC
Full purchase price coverage on qualifying deals
Up to 100% Rehab
Your renovation budget, fully funded
Up to 80% ARV
Underwritten to after-repair value
Close
quickly
When your documents are ready, we are too

Fix-and-Flip Loan Terms That Put Leverage in Your Hands

Whether you’re acquiring a distressed single-family home for a quick cosmetic flip or tackling a full gut renovation on a fourplex, our fix-and-flip program is structured to maximize your buying power while minimizing out-of-pocket costs. Ternus offers some of the most aggressive leverage in the private money lending space, up to 100% of the purchase price, with rehab financing that covers your full renovation budget.

Loan Parameter
Details

Loan Amounts
$50,000 – $500,000

Loan-to-Cost (LTC)
Up to 100% of purchase price

Rehab Coverage
Up to 100% of renovation budget

After-Repair Value (ARV)
Up to 80%

Interest Rate
Rates starting at 9.5% based on experience and LTC tier (interest-only)

Origination Fee
Starting at 0.5%

Loan Term
12 months

Extension Fee
1% (at lender’s discretion)

Interest Reserves (f needed)
6 months + 10% of rehab budget

Eligible Properties
Single-family, 2–4 units, townhomes

Appraisal
Not required¹

Credit Check
Not required¹

Prepayment Penalty
None

Closing Speed
Closings as quick as 7 days

Entity Requirement
LLC, LP, Corporation, SDIRA, or 401(k) with individual guarantor

¹ Appraisal and credit report may be required at lender’s discretion based on overall risk assessment. Available in select markets.

Every fix-and-flip loan from Ternus is structured as interest-only with no prepayment penalty, meaning you pay nothing extra for selling ahead of schedule. Closing costs can be rolled into the loan amount, though Ternus origination fees are paid separately to keep your loan balance lean.

How 100% Financing Actually Works for Fix-and-Flip Investors

Most hard money lenders cap financing at 85–90% of the purchase price, forcing investors to bring 10–15% as a down payment plus additional capital for renovations. Ternus flips that model. On qualifying deals, we fund up to 100% of the acquisition cost and 100% of the rehab budget, subject to a maximum of 80% of the property’s after-repair value (ARV).

Here’s what that looks like in practice:

Suppose you find a distressed single-family home listed at $100,000 with an ARV of $210,000 after a $40,000 renovation:

Component
Amount

Purchase price
$100,000

Renovation budget
$40,000

Total project cost
$140,000

80% of ARV ($210K)
$168,000

Ternus loan amount
$140,000 (capped at 80% ARV)

Your out-of-pocket
Customary Closing Costs & Prepaid Only

In this scenario, Ternus covers 100% of total project costs. Your out-of-pocket costs are limited to customary closing costs, lender fees, and prepaids.

This is why experienced flippers target properties where the spread between acquisition + rehab costs and ARV is wide. The deeper the discount, the more likely you are to qualify for full 100% LTC financing from Ternus.

Who qualifies for 100% financing? Not every investor or every deal will meet the threshold. Qualification depends on the deal’s ARV-to-cost ratio, your track record as an investor, the property’s location, and the scope of renovations. To find out if your next deal qualifies, start your application at https://www.ternus.com/apply-now/ or call (972) 755-1880.

Why Real Estate Investors Choose Ternus Over Traditional Hard Money Lenders

Just straightforward lending.

Our underwriting team evaluates the deal based on purchase price, comparable sales, and your renovation scope. No waiting 10 days for an appraiser. No scheduling conflicts. No surprises.

Close Quickly

When your title is clear, your entity documents are in order, and your proof of funds is ready, Ternus can fund your deal quickly. Our standard closing timeline is approximately 7 days, but for organized, experienced investors, we routinely beat that. This speed comes from our streamlined underwriting process and in-house decision-making, no loan committee approvals, no waiting for third-party reports.

Rehab draws are released in 5 business days.

Once your project is underway, accessing your renovation funds is simple. We send you a link to photograph completed work. Submit photos, and funds are typically released within a few business days. No third-party property inspections. No multi-week waiting periods.

Built by investors who’ve funded billions.

Ternus was founded by Tim Herriage, a former US Marine Corps Intelligence Analyst who co-founded Blackstone’s B2R Finance (now Finance of America) and served as Executive Director at RCN Capital. Our leadership team has collectively originated over $1.8 billion in real estate investment loans across multiple platforms. We didn’t learn lending from textbooks — we learned it from funding thousands of deals and building the companies that shaped the private lending industry.

Eligible Properties and Project Types

Eligible property types

• Single-family residences (SFR)

• 2–4 unit multifamily properties (duplexes, triplexes, fourplexes)

• Townhomes

Eligible project types

Light cosmetic rehab: Paint, flooring, fixtures, landscaping. For properties needing only minor work with a quick turnaround, also ask about our Wholetail Loan program with 60-day terms and no rehab escrow.

Standard renovation: Kitchen and bathroom remodels, roof replacement, HVAC, plumbing, electrical.

Heavy rehab: Full gut renovations, structural work, additions. Eligible on a case-by-case basis, submit your scope of work for review.

Not eligible

Commercial properties, manufactured homes, raw land, and rural properties. All borrowers must operate through a legal business entity (LLC, LP, or corporation). Ternus does not provide consumer or owner-occupied loans.

Geographic coverage:

Ternus currently lends in 39 states. We do not lend in Alaska, Arizona, California, Hawaii, Michigan, Minnesota, Nevada, New Hampshire, Oregon, Rhode Island, or Vermont. Investing in Texas? Check out our Texas 100% Fix-and-Flip Loans program, tailored specifically for Lone Star State investors. Full state list: https://www.ternus.com/where-ternus-lends/.

 

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