Fix and Flip Loan Terms and Requirements

What are the terms of a JDM Capital fix and flip loan?

Up to 100% of cost, no appraisal, closing in as little as 7 days and draws in as little as 24 hours. Those terms hold on every deal we write. The full terms are in one table below. Where a figure depends on the deal, you get the real number on a call, not a posted range you cannot rely on.

Scroll the table sideways to see all of it.

Why several rows say to ask us. The numbers that depend on your specific deal get quoted on the call, because a single posted figure would have to be the worst case and would be wrong for most deals. Send us the address, the purchase price and the rehab budget and you will get real numbers from the person who actually approves the loan. Call or text 267-228-3289, email Josh@JDMCapitalLending.com, or send the deal through the form.

Terms are subject to underwriting and approval and are not a commitment to lend.

What does 100% of cost cover?

Loan to cost is the loan divided by your project cost. For us, cost means the purchase price plus the rehab budget. At 100% of cost, the loan covers both of those. It does not cover transfer tax, title, recording, permits, insurance or the money the property eats while you own it. Those come out of your pocket, and on a Philadelphia deal they are larger than most first time flippers expect. The example below adds them up.

When you shop around, remember that "cost" is not a standard term. Ask any lender what they count as cost before you compare their percentage to ours, because the industry uses it three different ways:

• Purchase plus rehab. The narrowest and the most common in this market. It is what we mean.
• Total project cost. Some national lenders include soft costs such as permits, architectural fees, insurance and sometimes a contingency reserve. A wider definition makes the same dollar amount look like a lower percentage.
• All in. Broader still. It adds closing costs, financing costs, holding costs and even selling costs. This measures a project. It does not size a loan. Be careful if a lender quotes against it.

The only number that matters is the dollar figure that lands in escrow. Two lenders can both say 90% and fund amounts that differ by tens of thousands. Ask what the percentage is measured against, then ask for the dollars.

Loan to cost is also a different measure from loan to ARV, which compares the loan to the after repair value. Most lenders here cap both, so ask for both numbers. A high loan to cost with a low ARV ceiling can fund less than a lower loan to cost with a high one. Whichever cap is lower decides your dollars.

Why no appraisal?

Because we already know what a finished house sells for on your block. We lend in one metro area and underwrite in house, so we do not need a stranger to tell us. An appraisal on a rehab property is a forecast of a house that does not exist yet, and waiting two or three weeks for one is usually the single longest step in a hard money closing. Cut it out and a 7 day close becomes possible.

Not every lender does this. Some waive the appraisal only under a certain loan amount. On a larger project, ask each lender where their cutoff is.

How much cash do I need to close?

Roughly $8,750 on the deal below, plus your insurance premium, the title company's own settlement fee and our points. What you bring is closing costs. The loan covers 100% of purchase and rehab, so no down payment. Every one of those closing costs is itemized below, on a $250,000 Philadelphia rowhome with an $85,000 rehab. The loan figures are illustrative and not a quote. Every tax and fee in the table is a published rate, and the sources are underneath.

Scroll the table sideways to see all of it.

Then comes holding cost. Not cash at closing, but cash every month. Philadelphia real estate tax at 1.3998% on a $250,000 assessment is $3,499.50 a year, about $292 a month, and it accrues from the day you own it. Add insurance and utilities. On a 165 day project that is real money and it is the line people leave out.

Two things change this number a lot. Buy in the suburbs and the transfer tax drops from 4.578% to 2.0%, which on the same $250,000 purchase takes your half from $5,722.50 to $2,500. Buy something bigger and the permit fees climb, because Philadelphia charges by square foot. Send us the address and we will run these against the actual municipality before you offer.

Philadelphia realty transfer tax is 4.578% total, made up of a 3.578% city portion and the 1% Commonwealth portion, effective July 1, 2025 (City of Philadelphia). The city states the tax "is usually split evenly between the buyer and the seller, but this is not a legal requirement," and that it can collect the whole amount from either party, so confirm the split in your agreement of sale instead of assuming it (City of Philadelphia). In the four Pennsylvania collar counties the total is 2.0%, 1% state and 1% local, and the local portion can vary by municipality (Bucks County). Philadelphia real estate tax is 1.3998% of the assessed value, 0.6159% city and 0.7839% School District of Philadelphia. The assessed value is set by the Office of Property Assessment and is not necessarily what you paid (City of Philadelphia). Recording fees are $278.75 for a deed and $248.75 for a mortgage (Philadelphia Department of Records). Construction permit fees are from the L and I schedule PG_012_INF: alterations to a one or two family dwelling are $76 for the first 500 square feet plus $56 for each additional 100. Electrical work carries a $63 minimum and plumbing alterations are $50 for the first seven fixtures (Philadelphia L and I permit fee schedule). The $25 filing fee, the $3 city surcharge and the $4.50 state surcharge are charged on top of the fee schedule and are listed on the city's Get a Building Permit page, along with a 15 business day review for a one or two family alteration. Pennsylvania title insurance is a filed rate set by the Title Insurance Rating Bureau of Pennsylvania, so the premium is effectively the same at every title company in the state, unless that company has filed for and won a deviation (TIRBOP).

How do rehab draws work?

In stages. You do not receive the rehab budget at closing. We hold it and release it in draws as the work gets done, which keeps the money tied to the schedule. Draws fund in as little as 24 hours after inspection.

Review timelines and fees per Philadelphia Department of Licenses and Inspections. Suburban Pennsylvania and South Jersey permits are filed with the individual municipality, not the county, and timelines vary between them.

What is the resale market doing?

The Philadelphia metro median sold price reached a record $430,000 in June 2026, with a median of 10 days on market, active listings up 12.4% year over year and inventory still at only 53% of 2019 levels. Investor demand has held up better here than nationally: investors bought 21% of homes sold in the Philadelphia metro in Q1 2026, down just 1% year over year, against a national decline of 6%.

Price, days on market and inventory from the Bright MLS June 2026 Housing Market Report, released July 10, 2026. Investor share from the Redfin Investor Report for Q1 2026, published May 28, 2026.