Loan Eligibility Criteria

Bridge Value-Add Loan

We provide bridge loans to support ﬁxing and ﬂipping, ﬁxing and renting, buying and holding properties for future construction, and developing ADUs. These loans have no prepayment penalties.

Lending Criteria (by Lending Experience)

	0-1 Completed Projects	2-4 Completed Projects	5+ Completed
Projects Loan Amount*	$100,000 to $1.5 Million	$100,000 to $1.5 Million	$100,000 to $1.5
Million Payment Type	Interest Only	Interest Only	Interest Only
Loan Term	6 to 18 Months	6 to 18 Months	6 to 18 Months
Loan to Cost	Up to 80%	Up to 85%	Up to 90%
Loan to ARV	Up to 70%	Up to 70%	Up to 70%
Closing Timeline	5 to 10 business days	5 to 10 business days	5 to 10 business days

FICO	680 minimum soft credit assessment
Experience	Fix-and-ﬂip, BRRRR (ﬁx-and-rent), and new construction projects completed in the last three years count towards experience. General contractor experience may be considered.
Eligible Properties	1-4 unit detached homes, townhomes, warrantable condos, and apartments with up to 10 units (at reduced LTV). Loans are restricted to investment properties. Owner-occupied properties are not allowed.
Eligible States	We lend nationwide except Alaska, Hawaii, Nevada, North Dakota, South Dakota, West Virginia, and rural locations.
Draws	The renovation holdback reimburses expenses. A draw request takes 2-3 business days and requires a virtual property walk-through and lien release.
Second Liens	Subordinate ﬁnancing is ordinarily not allowed, but may be considered for experienced investors and repeat clients. We must approve amount, terms, and lender.
Borrower	Entities only. A personal guarantee is required. Non-recourse options available.
Loan Amount*	< $100,000 or >$1.5 million considered on a case-by-case basis.

See Additional Guidelines

FICO	680 minimum soft credit assessment
Experience	Fix-and-ﬂip, BRRRR (ﬁx-and-rent), and new construction projects completed in the last three years count towards experience. General contractor experience may be considered.
Eligible Properties	1-4 unit detached homes, townhomes, warrantable condos, and apartments with up to 10 units (at reduced LTV). Loans are restricted to investment properties. Owner-occupied properties are not allowed.
Eligible States	We lend nationwide except Alaska, Hawaii, Nevada, North Dakota, South Dakota, and rural locations.
Draws	The renovation holdback reimburses expenses. A draw request takes 2-3 business days and requires a virtual property walk-through and lien release.
Second Liens	Subordinate ﬁnancing is ordinarily not allowed, but may be considered for experienced investors and repeat clients. We must approve amount, terms, and lender.
Borrower	Entities only. A personal guarantee is required. Non-recourse options available.
Loan Amount*	< $100,000 or >$1.5 million considered on a case-by-case basis.

Bridge Stable Asset Loan

We provide multi-year ﬁnancing for newly constructed or renovated properties that are currently vacant or being stabilized and ineligible for a 30-year mortgage. These loans have no prepayment penalties.

Lending Criteria

Loan Amount	$150,000 to $1.5 million (>$1.5 million considered on a case-by-case basis)
Payment Type	Interest Only with balloon payment at maturity
Loan Term	12 to 24 months
Loan to Value	Up to 75%
Loan to Cost	Up to 75%
Closing Timeline	5 to 10 business days

See Additional Guidelines

FICO	680 minimum soft credit assessment
Property Condition	Properties must be in a livable condition with no renovations outstanding (i.e., C1-C4 condition rating)
Eligible Properties	1-4 unit detached homes, townhomes, warrantable condos, and apartments with up to 8 units (at reduced LTV). Loans are restricted to investment properties. Owner-occupied properties are not allowed.
Eligible States	We lend nationwide except Alaska, Hawaii, Nevada, North Dakota, South Dakota, and rural locations
Second Liens	Subordinate ﬁnancing is ordinarily not allowed but may be considered for experienced investors and repeat clients. We must approve any second-lien amount, terms, and lender.
Borrower	Entities only. A personal guarantee is required. Non-recourse options available.

1-10 Unit DSCR Rental Loan

We provide 30-year loans for single asset 1-10 unit rentals and rental portfolios. These loans are based on property cash ﬂow—eliminating the diﬃculty of underwriting borrower income that is part of any conventional loan. With this program Airbnb/VRBO properties are eligible based on the subjects projected short-term rental revenue.

Lending Criteria

Loan Amount	$100,000 to $2 million (max loan amount is higher for Portfolios)
Loan Term	30-year ﬁxed rate; or 7-year interest only followed by an amortization
Loan to Value	Up to 80%; or up to 75% for cash-out reﬁnances with low to no seasoning
Debt Coverage	Minimum 1.0 DSCR (0.75 DSCR available in select core MSAs with up to 70% LTV)
Prepayment Penalty	3% step down of unpaid balance in Year 1, 2% in Year 2, 1% in Year 3. Reduced prepayment penalty options are available.
Closing Timeline	2-3 weeks

See Additional Guidelines

FICO	660 minimum hard credit assessment
Revenue Veriﬁcation	Long-term rental revenue is veriﬁed through a lease agreement. Short-term rental (Airbnb/VRBO) revenue is veriﬁed utilizing 90% of AirDNA rents.
Property Condition	Properties must be in a livable condition with no renovations outstanding (i.e., C1-C4 condition rating)
Eligible Properties	1-4 unit detached homes, townhomes, warrantable condos, and apartments with up to 10 units (at reduced LTV). Loans are restricted to investment properties. Owner-occupied properties are not allowed.
Eligible States	We lend nationwide except Alaska, Hawaii, Nevada, North Dakota, South Dakota, and rural locations.
Borrower	Entities only. A personal guarantee is required. Non-recourse options available.
Mortgage Payments	Taxes and insurance are escrowed. Mortgage payments are collected by ACH
Portfolio Loans	Portfolio loan options are available for real estate investors looking to ﬁnance multiple properties with a single loan.

Bank Statement Loan

Recent home price appreciation and high interest rates may mean DSCR loans do not provide an ideal loan amount, or a rental property may be ineligible altogether because of how it cash ﬂows (e.g., short-term rental).

Bank statement loans may be a solution for real estate investors who would like permanent ﬁnancing for higher-value homes, short-term rentals, and maturing hard money loans. This product analyzes 12 months of bank statement transactions to calculate the income and liabilities of a real estate investor and determine loan size based on a 50% debt-to-income ratio.

Lending Criteria

Loan Amount	$100,000 to $1.5 million (>$1.5 million considered on a case-by-case basis)
Loan Term	30-year ﬁxed rate; or 7-year interest only followed by an amortization.
Loan to Value	Up to 80%; or up to 70% for cash-out reﬁnances with low to no seasoning
Prepayment Penalty	3% step down of unpaid balance in Year 1, 2% in Year 2, 1% in Year 3. Reduced prepayment penalty options are available.
Closing Timeline	2-3 weeks

See Additional Guidelines

FICO	660 minimum hard credit assessment
Ability to Repay Veriﬁcation	This product analyzes 12 months of bank statement transactions to calculate the income and liabilities of a real estate investor and determine loan size based on a 50% debt-to-income ratio.
Property Condition	Properties must be in a livable condition with no renovations outstanding (i.e., C1-C4 condition rating)
Eligible Properties	1-4 unit detached homes, townhomes, and condos. Loans are restricted to investment properties. Owner-occupied properties are not allowed. Portfolios are not allowed.
Eligible States	We lend nationwide except Alaska, Hawaiii, Nevada, North Dakota, South Dakota, and rural locations.
Borrower	Entities only. A personal guarantee is required. Non-recourse is not allowed.
Mortgage Payments	Taxes and insurance are escrowed. Mortgage payments are collected by AC

Construction Loan

We provide ﬁnancing for the construction of single-family homes, 2-4 unit properties, auxiliary dwellings, and townhomes. We will consider large condo and apartment construction projects on a case-by-case basis. Real estate investors appreciate our ﬂexible terms and speed of closing and administering construction draws.

Lending Criteria

Loan Amount	$150,000 to $1.5 million (>$1.5 million considered on a case-by-case basis)
Loan Term	12, 18 or 24 months
Payment Type	Interest Only with balloon payment at maturity
Advance Rate	Up to 80% loan to cost, 65% loan to after construction value
Construction Financing	100% of construction budget (including eligible soft costs)
Credit for Land	100% of acquisition cost
Closing Timeline	2-3 weeks

See Additional Guidelines

FICO	660 minimum soft credit assessment
Investing Experience	We require a sponsor to have completed ﬁve or more construction projects. General contracting and complex ﬁx-and-ﬂip projects may count toward experience.
Eligible Properties	1-4 unit detached homes, townhomes, warrantable condos, and apartments with up to 10 units (at reduced LTV). Loans are restricted to investment properties. Owner-occupied properties are not allowed.
Eligible States	We lend nationwide except Alaska, Hawaii, Nevada, North Dakota, South Dakota, and rural locations.
Second Liens	Subordinate ﬁnancing is ordinarily not allowed but may be considered for experienced investors and repeat clients. We must approve any second-lien amount, terms, and lender.
Borrower	Entities only. A personal guarantee is required. Non-recourse options available.
Draws	Virtual inspection or third-party site visit, invoice review and reconciliation to scope of work, lien releases for payments over $10,000 or title date-down endorsement.

Commercial Bridge Loan

Commercial bridge lending ﬁnances acquiring, improving, and stabilizing commercial, mixed-use and multifamily residential properties. Commercial bridge lending is designed for properties in metropolitan markets and sponsors with a proven track record. Our proprietary technology, streamlined underwriting, and competitive terms differentiate us from traditional lenders.

Lending Criteria

Loan Amount	$3 million to $50 million
Payment Type	Interest Only with balloon payment at maturity
Loan to Value	Up to an 80% for purchases, 75% for reﬁnances, and 65% for cash-out reﬁnances, subject to property type, third-party property valuation, and expected potential rent
Loan Term	12, 24 and 36 month loan term options. Loans with a 12 or 24-month term may extend up to 12 months. Loans with a 36-month term may extend up to 24 months.
Closing Timeline	4-6 weeks

See Additional Guidelines

FICO	Minimum 700
Eligible Properties	Multifamily, industrial, oﬃce, retail, mixed-use, self-storage, manufactured housing, and hospitality.
Eligible States	We lend nationwide except Alaska, Hawaii, Illinois, Nevada, North Dakota, South Dakota, Wyoming and rural locations.
Borrower	Available to sponsors with prior investing experience in the asset class. Loans are originated to a business entity.
Second Liens	Subordinate ﬁnancing is ordinarily not allowed but may be considered for experienced investors and repeat clients. We must approve any second-lien amount, terms, and lender.
Personal Guarantee	Required from an individual who is at least a 25% owner of the borrowing entity. Non-recourse with customary carve outs may be considered.
Net Worth & Liquidity	Will vary by project. Typically, minimum net worth of 100% of the loan amount and a minimum liquidity of 15% of the loan amount.