What does 100% LTC mean?

LTC = loan-to-cost. 100% LTC means the loan covers 100% of (purchase + rehab). It does NOT mean the loan covers closing costs or holding costs. Closing costs are paid by the borrower at signing, typically 5–7% of the loan amount on Velocity.

What's the catch with 100% fix and flip loans?

Three catches. First, the rate is higher than partial-leverage products — 12.99% IO on AGS Velocity vs 9.25–11.25% on Optimal. Second, the deal must fit the program's ARV cap (70% on Velocity), which means thin deals don't pencil. Third, the property must be in an approved-area city — there are ~95 approved cities across our 12 active states. If the city isn't on the approved list, the deal moves to Optimal at slightly less leverage but lower rate.

How does the rehab money get released on a 100% loan?

Rehab is held in escrow and released on draws. Each draw is triggered by an inspection (typically photo-based or BPO) confirming the work was completed per the scope of work submitted at closing. Draws are typically 5–10 business days from request to wire. There is no rehab cash given at the closing table.

What credit score do I need for a 100% fix and flip loan?

660 minimum FICO on AGS Velocity. The program also requires at least one verifiable prior flip experience for first-time AGS borrowers (the loan caps at $1M for first-timers; $2.5M for repeat AGS borrowers). Investors with no flip history typically route to FlipCo Financial — a no-credit-minimum, photo-based fix and flip product also offered through AGS.

100% Fix and Flip Financing: How It Actually Works (2026)

Q: Is 100% fix and flip financing real?

Yes — and it has a specific definition. 100% fix and flip financing means the lender funds 100% of the purchase price plus 100% of the rehab budget. The borrower still pays closing costs at the table (origination points, processing, title insurance, hazard insurance, recording fees, etc.) — typically 5–7% of the loan amount. AGS Lending Partners' Velocity program is a true 100% LTC product capped at 70% of after-repair value (ARV).

Direct answer

100% fix and flip financing exists, and AGS Lending Partners offers it as the Velocity program. The loan funds 100% of the purchase price and 100% of the rehab budget — no down payment. The borrower covers closing costs at the table (typically 5–7% of the loan amount).

The terms are 12.99% interest-only, 3.5 origination points, $2,500 processing, no exit fee. The deal must fit a 70% after-repair-value cap, and the property must be in one of ~95 approved-area cities across our 12 active states.

What 100% covers — and what it doesn't

Cost	Funded by loan?	Notes
Purchase price	Yes — 100%	Wired to seller at closing
Rehab budget	Yes — 100%	Held in escrow, released on draws
Origination points (3.5%)	No	Paid at closing
Processing ($2,500)	No	Paid at closing
Title, insurance, recording	No	Paid at closing — varies by state
Monthly interest payments	No	Borrower carries during rehab
Holding costs (utilities, taxes)	No	Borrower carries

A real example

$200K purchase + $50K rehab on a property with $360K ARV in Houston:

Total project cost: $250K
Loan amount (100% LTC): $250K
ARV check: $250K ÷ $360K = 69.4% — passes the 70% cap
Cash-to-close: ~$13K (origination, processing, title, insurance)
Monthly carry during 5-month rehab: ~$2,710/mo at 12.99% IO
Sale at $360K, closing costs 6%, gross profit: ~$83K before income tax

That same $250K project on a 90% LTC product would require ~$25K down plus closing costs — roughly $38K cash-to-close — in exchange for a lower ~10.5% rate. Whether the rate savings justify the extra capital tied up depends on how many concurrent deals you run. The side-by-side calculator puts both numbers in front of you in seconds.

Run your deal at 100%

Compare AGS Velocity (100%) and Optimal (matrix-priced) on your property — purchase, rehab, and ARV are the only inputs you need.

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Frequently asked questions

Is 100% fix and flip financing real?

Yes. AGS Lending Partners' Velocity program funds 100% of (purchase + rehab) at 12.99% interest-only with no down payment. The borrower covers closing costs at the table — typically 5–7% of the loan amount.

What's the difference between 100% LTC and 100% LTV?

LTC (loan-to-cost) is the loan vs the project's total cost (purchase + rehab). LTV (loan-to-value) is the loan vs the property's value (as-is or after-repair). 100% LTC is common in fix and flip lending; 100% LTV is virtually never offered because lenders cap LTV at 65–75% of ARV to protect their position.

What states is 100% Velocity available in?

12 active states: Texas, Florida, Georgia, North Carolina, Ohio, Alabama, Indiana, Missouri, Kansas, Tennessee, South Carolina, Oklahoma. The program is restricted to ~95 approved-area cities across these states. Properties outside an approved city move to Optimal (matrix-priced).

What's the maximum loan size?

$1M for first-time AGS Velocity borrowers, $2.5M for repeat AGS borrowers. Most Velocity files settle in the $200K–$800K range.

What if my city isn't on the approved list?

The deal moves to AGS Optimal — same calculator, slightly less leverage (typically 85–90% LTC instead of 100%) in exchange for a meaningfully lower rate (9.25–11.25% vs 12.99%).