Investors flipping homes across Connecticut use fix-and-flip loans to cover part of the purchase and part of the renovation, then repay the balance when the property sells. Each project is judged on its numbers: purchase price, repair costs, schedule and expected resale value, along with your track record and the cash you bring. Use the city pages below for local housing data, and raise draws, permits and holding costs with a licensed loan officer before you commit.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Connecticut contractor licensing: Home Improvement Contractor. Home improvement contractors must hold an active DCP registration, and the HIC number should appear on the contract; homeowners can check it on eLicense (elicense.ct.gov). Guaranty Fund eligibility depends on the contractor being registered. Lenders funding renovation work often ask for the contractor's license and bid.
Connecticut transfer taxes: Real Estate Conveyance Tax. Has a state and a municipal portion; the grantor (seller) or the grantor's attorney or agent files Form OP-236, and the return and payment are due when the deed is recorded, unless an exemption applies. Your Loan Estimate or closing statement lists what applies to your deal.
Where the numbers point in Connecticut
Counties with the most homes built before 1960:
| County | Homes built before 1960 |
|---|---|
| the Greater Bridgeport Planning Region | 51.2% |
| the South Central Connecticut Planning Region | 45.3% |
| the Northwest Hills Planning Region | 44.1% |
| the Capitol Planning Region | 40.9% |
| the Naugatuck Valley Planning Region | 38.8% |
| the Southeastern Connecticut Planning Region | 38.5% |
| the Western Connecticut Planning Region | 34.8% |
| the Lower Connecticut River Valley Planning Region | 34.7% |
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Prefer to talk first? Call (888) 865-8230. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Fix and Flip Loans by city in Connecticut
- Ansonia
- Branford Center
- Bridgeport
- Bristol
- Cheshire Village
- Conning Towers Nautilus Park
- Cos Cob
- Danbury
- Derby
- Glastonbury Center
- Hartford
- Jewett City
- Kensington
- Meriden
- Middletown
- Milford
- Milford city
- Naugatuck
- New Britain
- New Haven
- New London
- Norwalk
- Norwich
- Oakville
- Old Greenwich
- Pawcatuck
- Riverside
- Rockville
- Shelton
- Sherwood Manor
- Simsbury Center
- Southwood Acres
- Stafford Springs
- Stamford
- Storrs
- Terryville
- Thompsonville
- Torrington
- Wallingford Center
- Waterbury
- West Haven
- Willimantic
- Winsted
Common questions
Is a fix-and-flip loan a business loan?
Usually, yes. Financing to buy, renovate and resell an investment home is typically made for a business purpose, and many flippers take title through an LLC. Business-purpose rules and disclosures are not the same as those on a mortgage for your own residence, so have the loan officer spell out which ones you will receive. For entity questions, talk to a tax professional or attorney.
Do I need flipping experience to qualify?
Not always, but it helps. Lenders often offer more favorable terms to investors with a record of completed projects. Someone on a first flip may need a bigger cash stake, a tighter scope or an experienced partner on the project. Ask a loan officer which lenders work with first-time flippers and what they would expect to see from you.
How does a fix-and-flip loan work in Connecticut?
A fix-and-flip loan funds the purchase of a property that needs work and, often, part of the renovation. The renovation funds are usually held back and released in draws after inspections. You pay interest during the project, often interest-only, and repay the full balance when the renovated home sells. Terms vary by lender, borrower and property, and financing is subject to credit approval.
Other investor loans in Connecticut
DSCR loansDSCR requirementsDSCR down paymentAirbnb / STR loansHard money lendersHard money for a primary homeInvestor bridge loansPortfolio lendersBlanket mortgagesInvestment property loansHELOC on a rentalInvestor cash-out refiSecond home loansInterest-only investor loansPrivate money lenders
Related guides
- Hard Money vs DSCR Loan: Which Fits Your Investment Property?
- LLC Mortgage Basics: Financing a Rental in an LLC
- How to Get a DSCR Loan, Step by Step
Fix and Flip Loans overview · Connecticut investor loan overview
- Census ACS 2020-2024, table B25034