We now lend directly.

Purchase plus rehab capital for 1–4 unit residential business plans.

• 90% of purchase
• 100% of rehab
• 75% max ARV

Property types

Residential (1–4 units)

Loan amount

$50,000 – $3,000,000

Maximum loan to cost

• 90% of purchase
• 100% of rehab costs

Maximum loan to ARV

75%

Term length

12 months, up to 18 at lender discretion

Recourse

Full recourse

Land plus 100% of construction for 1–4 unit new builds, drawn to milestones.

• Up to 85% LTC
• 100% of construction
• 12–24 months

Property types

Residential (1–4 units)

Loan amount

$50,000 – $3,000,000

Maximum loan to cost

• Up to 75% of the lower of land value or purchase price (60% if unpermitted), plus 100% of construction
• Max 85% of total project costs (90% if interest reserve is financed)
• LTC catch-up draw to raise initial advance to 75% at approval of required plans/permits post-closing

Maximum loan to ARV

70%

Term length

12–24 month terms available

Recourse

Full recourse

Bridge financing on a recently renovated or constructed property that is currently or soon to be listed for sale.

• 85% LTC
• 70% LTV
• 660 min FICO

Loan amount

$50,000 – $3,000,000

Term length

12 months, up to 18 at lender discretion

Property types

Single family / 2–4 unit / townhomes / PUD / warrantable condos

Max LTC

85% of purchase price + verified completed capex if property owned < 6 months

Max LTV

70%

Min DSCR

N/A

Property condition

C2 or better

Min FICO

660

Collateral restrictions

Property value within 90th percentile of market. No rural, exotic, or unique properties.

Bridge financing on a property currently rented or soon to be rented, but not yet ready for permanent financing.

• 85% LTC
• 70% LTV
• 1.10x exit DSCR

Loan amount

$50,000 – $3,000,000

Term length

12 months, up to 18 at lender discretion

Property types

Single family / 2–4 unit / townhomes / PUD / warrantable condos

Max LTC

85% of purchase price + verified completed capex if property owned < 6 months

Max LTV

70%

Min DSCR

1.10 exit DSCR based on lower of in-place rent and market rent

Property condition

C4 or better with no deferred maintenance

Min FICO

660

Collateral restrictions

No rural, exotic, or unique properties

30-year fixed and hybrid ARM take-out debt for individual rental properties.

• 80% LTV
• 1.05x DSCR
• 30-year term

Property types

Single family / 2–4 unit / townhomes / PUD / warrantable condos

Loan amount

$75,000 – $2,000,000

Loan types

• 30-year fixed rate mortgage (fully amortizing or partial IO)
• 5/6, 7/6, 10/6 hybrid ARMs (partial IO or fully amortizing)

Maximum loan to cost

If owned < 3 months, 80% of total cost basis

Max loan to as-is value (subject to min FICO)

• Purchase / rate-term refinance: 80%
• Cash-out refinance: 75%

Minimum DSCR (gross rent / PITIA)

1.05x

Term length

30 years

Recourse

Full recourse only

Minimum guarantor FICO

Mid-score of 660

Lease requirements

• Leased units: lower of (i) in-place rent and (ii) market rent
• Unleased units: 100% of market rent (purchase loans only, or 1 unit of a 2–4 unit refinance)

Cross-collateralized 30-year debt for multi-property rental portfolios.

• 80% LTV
• $2MM max
• 680 min FICO

Property types

Single family / 2–4 unit / townhomes / PUD / warrantable condos

Loan amount

• Minimum property value: $100K
• Maximum loan amount: $2MM

Loan types

• 30-year fixed rate mortgage (fully amortizing or partial IO)
• 5/6, 7/6, 10/6 hybrid ARMs (partial IO or fully amortizing)

Maximum loan to cost

If owned < 3 months, 80% of total cost basis

Max loan to as-is value (subject to min FICO)

• Purchase / rate-term refinance: 80%
• Cash-out refinance: 75%

Minimum DSCR

• Portfolios ≤ $2MM and ≤ 10 properties: 1.05x (gross rent / PITIA)
• All other portfolios: 1.20x (net cash flow / debt service)

Term length

30 years

Recourse

Full recourse

Minimum guarantor FICO

Mid-score of 680

Lease requirements

• Minimum occupancy rate of 90% by unit count
• Leased units: lower of (i) in-place rent and (ii) market rent
• Unleased units: 100% of market rent (purchase loans only)