Flipping houses is one of the fastest ways to grow wealth in real estate investing—but projects don’t always go according to plan. Renovations may run over budget, the housing market may cool unexpectedly, or your contractor might experience delays. When your project timeline is longer than expected, you may wonder:
Can you extend a Fix and Flip loan?
The short answer: Yes, most Fix and Flip loans can be extended if you contact your lender in advance and meet certain requirements. In this article, we’ll break down exactly how extensions work, what rules lenders typically apply, and how to set yourself up for success if you need extra time.
👉 Ready to apply for your loan? Check out Fix & Flip Loans from Truss Financial Group
Why Do Investors Need to Extend Fix and Flip Loans?
Even the most experienced investors sometimes face delays. Common reasons include:
- Construction setbacks: Delays in permits, inspections, or contractor availability.
- Budget overruns: Hidden issues like foundation repairs or outdated wiring can add weeks to a project.
- Market conditions: If the local housing market cools, it may take longer to attract qualified buyers.
- Unexpected events: Weather, supply chain issues, or personal emergencies.
Since Fix and Flip loans are designed for short-term use (usually 6–18 months), asking for an extension is not uncommon.
Standard Fix and Flip Loan Terms
Before discussing extensions, let’s review typical terms:
- Loan Duration: Usually 6–18 months.
- Approval Speed: Most investors receive approval within 7–10 business days.
- Coverage: The loan finances both the property purchase and renovation costs.
- Eligibility:
- Minimum credit score of 620
- Non-owner-occupied property
- Renovation plan with budget
- Experience in real estate preferred but not required
- Loan minimum of $100,000
- Financial stability and no bankruptcy filings in the past two years
👉 For more details, view Fix & Flip Loan Requirements at Truss Financial Group.
Can You Extend a Fix and Flip Loan?
Yes, extensions are possible. Lenders recognize that real estate projects don’t always go as planned. If your project is running behind schedule, you can usually request additional time.
Key Lender Rules for Extensions:
- Advance Notice: Contact your lender before the loan term expires. Waiting until the last minute can result in penalties or default.
- Proof of Progress: Be prepared to show that renovations are underway and nearing completion.
- Updated Exit Strategy: Lenders want to know how you’ll repay the loan once the project is done. This may include listing agreements or updated market comps.
- Extension Fee: Some extensions may include administrative or interest-related fees.
- Borrower Profile: Your creditworthiness, project management, and payment history will influence extension approval.
How Long Can You Extend a Fix and Flip Loan?
Most extensions are offered in increments of 3–6 months, depending on your loan’s original terms. Extensions are designed to give you enough time to finish renovations, sell the property, and repay the loan.
What Happens If You Don’t Extend?
If your project goes beyond the loan term and you don’t secure an extension, you risk:
- Defaulting on the loan
- Penalties or additional fees
- Damaged credit history
- Losing future financing opportunities
The best approach is always to communicate with your lender early.
Rates and Terms Reminder
Rates are competitive and vary based on your credit score, experience, and project specifics. Reach out for a personalized quote today.
Tips for Avoiding Extension Stress
- Plan for delays upfront. Budget both time and money for unexpected issues.
- Work with experienced contractors. Professionals who specialize in investment renovations save time.
- Communicate often. Keep in close contact with your contractor, inspector, and lender.
- List early. If renovations are nearly complete, consider listing the property to generate buyer interest.
- Stay proactive. Contact your lender at least 30 days before your loan matures if you think you’ll need more time.
Why Choose Truss Financial Group for Your Fix and Flip Loan?
With Truss Financial Group, investors benefit from:
- Fast Approval: Many loans approved in just 7–10 business days.
- Flexible Terms: Customize repayment options to match your project.
- High Approval Rates: In 2024, Truss approved 81% of applicants compared to the industry average of 53%.
- No Documents to Apply: No commitment and no impact on your credit score.
- Loan Coverage: Finance both purchase and renovation costs with one loan.
This flexible approach gives investors more choices and more chances to succeed—even when timelines shift.
Frequently Asked Questions
How long is a typical Fix and Flip loan?
Most range between 6–18 months.
Can I extend my loan if my project runs over?
Yes, extensions are available. Contact your lender in advance to discuss options.
What do I need for an extension?
Most lenders require proof of renovation progress, updated exit plans, and on-time payment history.
What happens if I don’t extend?
You may face penalties, default risk, or damage to your credit profile.
Conclusion: Extensions Are Possible With the Right Planning
The reality is that flipping houses doesn’t always stick to schedule—but that doesn’t mean your project is doomed. Fix and Flip loan extensions are a safety net designed to help investors finish strong. By planning ahead, staying in close contact with your lender, and keeping your project moving, you can secure the time you need to complete renovations and sell profitably.
👉 Ready to start flipping? Apply here: Fix & Flip Loans by Truss Financial Group