Questions, answered.

We are asset-based, which means we underwrite the property, its equity, and your business plan rather than your personal income and tax returns. That lets us fund in days instead of the 30 to 60+ days a bank takes, on short interest-only terms built around a flip, refinance, or sale. You pay a higher rate than a bank in exchange for speed, flexibility, and certainty on deals a bank cannot fund in time.

Most of our borrowers take title in a business entity such as an LLC, corporation, or partnership rather than personally. What makes a loan business-purpose is how the funds are used, buying, improving, or refinancing investment or commercial property, not the entity that borrows. Holding the property in a single-purpose LLC is standard practice for investors and quick to set up; talk to your attorney or CPA about the right structure, and we can walk you through what we need before closing.

No. Every program we offer is a business-purpose loan for investment or commercial real estate, not a consumer mortgage. You cannot use these loans to buy or refinance the home you live in. The deciding factor is the purpose of the loan, financing non-owner-occupied or income property, not the property type alone.

We are a direct private lender working in most states. A few programs carry state-specific nuances, so we will confirm availability for your exact scenario the first time we talk.

Fix and flip and residential bridge loans typically close in 5 to 7 days once we have your basics. Rental (DSCR) loans usually take 2 to 3 weeks because of the appraisal and rent verification, and SBA financing runs 30 to 90 days. The biggest variable is how quickly title, insurance, and your documents come together.

We do run credit, but on our asset-based loans it carries far less weight than at a bank, and weaker credit can often be offset with a larger down payment or lower leverage. There is no personal income test on these programs. Credit matters most on long-term rental loans, where we look for a 640 minimum and it affects your rate and leverage.

Generally no. Our bridge, fix and flip, and construction loans qualify off the property and your equity, and our DSCR rental loans qualify off the property's rent, so we do not ask for W-2s or pay stubs. We will want to see bank statements or proof of reserves. SBA and conventional investment loans are the exceptions and are fully documented.

Just the basics of the deal: the property address or type, the purchase price or current value, your rehab budget, the loan amount, and your exit plan. We can often pre-qualify you over the phone or through a short application and issue a proof-of-funds letter before you are even under contract.

A point is an upfront fee equal to 1% of the loan amount, and origination on private loans typically runs 1 to 3 points. Our rates are higher than a bank, generally in the high single digits to low teens depending on the program, because the loans are short, fast, and flexible. When you compare offers, weigh the rate and the points together as your true cost of capital.

Tell us early. Our fix and flip terms run 6 months, so if a project is trending long, the most important thing is to reach out well before maturity. Depending on your progress and the deal, we may be able to work out an extension, but that is handled case by case and is not guaranteed. The sooner we know, the more we can do to keep you moving toward a successful exit.

We fund up to 90% of the purchase price and up to 100% of your rehab budget, with the total capped against the after-repair value (ARV). Rehab money is released in draws as the work is completed.

Our fix and flip pricing starts around 9.99%, interest-only, with origination typically 1 to 3 points depending on your experience, leverage, and the deal, and every quote is subject to underwriting. Across the market most flip loans run roughly 9% to 12%. On most flip loans, including ours, interest is charged on the full loan amount, rehab budget included. Paying interest only on rehab funds as you draw them exists in the market, but it is the exception, not the rule.

No. We work with first-time flippers as well as full-time operators. Experience mainly affects your leverage and rate, since a longer track record earns higher loan-to-cost and better pricing. A newer investor can still get funded with a sound deal, a realistic budget, and a clear exit.

We can get you a term sheet the same day on a complete application, and we typically fund within 48 hours of clear title. The main variable is how fast title and insurance come together, which is why a full close usually runs 5 to 7 days. Because we are the lender and underwrite in house, there is no second layer of approval to wait on.

No. Our fix and flip loans have no prepayment penalty, so paying off early when the property sells costs you nothing extra. Terms run 6 months, and because there is no penalty, selling sooner never costs you extra.

We run credit, but this is an asset-based loan, so the property, your budget, and the ARV matter most. We do not ask for W-2s or tax returns to qualify a flip. We will want to confirm you have reserves to carry the project to its exit.

Fix and flip loans are asset-based, so credit carries less weight than at a bank. A reasonable profile helps your rate and leverage, and weaker credit can often be offset with more equity. Full guide: Fix and Flip Loan Requirements: What You Need to Get Funded

Up to 90% of the purchase price and up to 100% of the rehab budget, with total exposure capped under a percentage of the after-repair value (ARV). Full guide: Fix and Flip Loan Requirements: What You Need to Get Funded

Yes. Experience helps leverage and pricing, but a first-timer with a sound deal, a realistic budget, and a clear exit can still get funded. Full guide: Fix and Flip Loan Requirements: What You Need to Get Funded

Buy, Rehab, Rent, Refinance, Repeat, a strategy for building a rental portfolio while recycling the same capital across deals. Full guide: Financing the BRRRR Method: Buy, Rehab, Rent, Refinance, Repeat

A short-term fix and flip or bridge loan for the buy and rehab, then a long-term DSCR loan to refinance and pull your capital back out. Full guide: Financing the BRRRR Method: Buy, Rehab, Rent, Refinance, Repeat

Sometimes. A cash-out DSCR refinance can return much or all of your capital if the property's new value and rent support it. Full guide: Financing the BRRRR Method: Buy, Rehab, Rent, Refinance, Repeat

ARV stands for after-repair value, the estimated market value of a property once the planned renovation is complete. Full guide: What Is ARV (After-Repair Value) and How Do You Calculate It?

The purchase price is what you pay for the property as-is. ARV is what it will be worth after the rehab, based on comparable sold properties in finished condition. Full guide: What Is ARV (After-Repair Value) and How Do You Calculate It?

The 70% rule says an investor should pay at most 70% of a property's ARV minus the rehab budget. It is a quick screening filter, not a precise underwriting tool. Full guide: What Is ARV (After-Repair Value) and How Do You Calculate It?

You pay more because the lender funds fast, takes on more risk, and lends against the asset and your plan rather than your income. The premium buys speed, flexibility, and certainty. Full guide: Hard Money Loan Rates and Costs, Explained

A point equals 1% of the loan amount, paid at closing as origination. A 2-point fee on a $300,000 loan is $6,000. Full guide: Hard Money Loan Rates and Costs, Explained

Most short-term hard money loans are fixed, interest-only for the term. Because the loan lasts months, the total carry cost matters more than the headline rate. Full guide: Hard Money Loan Rates and Costs, Explained

LTV measures the loan against the property's value; LTC measures it against the total cost of the project. LTC is used during a build or rehab, LTV on a finished or stabilized property. Full guide: LTV vs LTC: What's the Difference?

Construction loans lead with LTC (loan-to-cost), because the finished value does not exist yet. Leverage is sized against land plus construction costs. Full guide: LTV vs LTC: What's the Difference?

Yes. Fix and flip loans often combine purchase leverage and rehab funding while also capping total exposure at a percentage of after-repair value (ARV). Full guide: LTV vs LTC: What's the Difference?

Truly zero out of pocket is uncommon. Investors get close by combining high-leverage financing (up to 90% of purchase, 100% of rehab) with a partner, private money, or a strong below-market purchase. Full guide: Can You Fund a Fix and Flip With No Money Down?

Usually some, for the down payment and closing costs, but a below-market deal, high leverage, and a partner can shrink that to a minimum. Full guide: Can You Fund a Fix and Flip With No Money Down?

Often 5 to 7 days for bridge and fix and flip loans, compared with 30 to 60+ days for a bank. DSCR rental loans take a little longer, and SBA loans much longer. Full guide: How Fast Can a Hard Money Loan Close?

Usually title issues, insurance, or slow document turnaround from the borrower, not the lender's underwriting. A clean file closes fast. Full guide: How Fast Can a Hard Money Loan Close?

A term sheet can come the same day on a complete file, and we typically fund within 48 hours of clear title, subject to underwriting. The main variable is how fast title and insurance come together, which is why a full close typically takes 5 to 7 days. Full guide: How Fast Can a Hard Money Loan Close?

Usually around 10% of the purchase price, since lenders fund up to 90% of purchase. You also cover closing costs and float the rehab between draws. Full guide: How Much Down Payment Do You Need for a Fix and Flip?

Yes, up to 100% of the rehab budget, reimbursed in draws as work is completed and inspected. You typically fund each stage first and get reimbursed. Full guide: How Much Down Payment Do You Need for a Fix and Flip?

Yes, with a strong below-market purchase, a partner or private money, or higher leverage earned through experience. Full guide: How Much Down Payment Do You Need for a Fix and Flip?

They overlap. Hard money is asset-based lending from a professional lender with set programs; private money is from an individual with negotiable, relationship-based terms. People often use the terms interchangeably. Full guide: Hard Money vs Private Money: What's the Difference?

It depends. Private money from someone you know can be lower-cost or more flexible, but hard money offers defined terms, reliability, and fast, repeatable closings. Full guide: Hard Money vs Private Money: What's the Difference?

Yes. A common structure uses a hard money loan for most of the deal and private money for the down payment or a gap. Full guide: Hard Money vs Private Money: What's the Difference?

A document showing a seller or agent that you have the capital or financing to close. For investors, it is usually a lender letter confirming you are pre-qualified to fund up to a set amount, subject to underwriting. Full guide: What Is a Proof of Funds Letter and How Do You Get One?

Get pre-qualified with a lender and request the letter. A private lender can often issue one after a short application, sometimes before you are under contract. Full guide: What Is a Proof of Funds Letter and How Do You Get One?

No. It confirms you are approved to fund up to an amount, but the specific deal still goes through underwriting, title, and insurance before it closes. Full guide: What Is a Proof of Funds Letter and How Do You Get One?

Flipping produces larger lump sums faster; renting produces smaller, recurring income that compounds over time. Which wins depends on your goals and time horizon. Full guide: Fix and Flip vs Buy and Hold: Which Strategy Is Right for You?

Holding is generally lower risk because it does not depend on a single quick sale, but it ties up capital longer. Flipping is faster but more exposed to market timing and rehab overruns. Full guide: Fix and Flip vs Buy and Hold: Which Strategy Is Right for You?

Yes. Many investors flip for capital and hold for wealth, and the BRRRR method deliberately combines the two. Full guide: Fix and Flip vs Buy and Hold: Which Strategy Is Right for You?

The purchase contract, a scope of work and budget for a rehab, entity documents, bank statements showing reserves, an insurance binder, ID, and an exit plan. No tax returns or W-2s on most programs. Full guide: What Documents Do You Need for a Hard Money Loan?

Generally no. Asset-based loans qualify on the property and your plan, so they skip tax returns and pay stubs, though they verify reserves and the entity. Full guide: What Documents Do You Need for a Hard Money Loan?

Usually title issues, insurance, or slow document turnaround from the borrower, not the lender. A complete file can close in days. Full guide: What Documents Do You Need for a Hard Money Loan?

Build a detailed scope of work by area and system, price each line from contractor quotes or known unit costs, and add a contingency (often 10-20%) plus carrying costs. Full guide: How to Estimate a Rehab Budget

Commonly 10-20%, to cover hidden problems that surface once work begins, like wiring, plumbing, or structural issues behind walls. Full guide: How to Estimate a Rehab Budget

The lender funds the rehab in draws against your budget and caps total loan exposure under the after-repair value, so a realistic budget keeps the deal and your draws on track. Full guide: How to Estimate a Rehab Budget

One point is 1% of the loan amount, paid at closing. Two points on a $500,000 loan is $10,000. Points are separate from the interest rate and are paid whether you hold the loan for one month or twelve. Full guide: Points and Origination Fees: What You Actually Pay

It depends entirely on your hold period. Points are a fixed cost paid up front; interest only accrues while the loan is outstanding. On a short flip you often want fewer points and accept the rate, because you will not hold long enough to earn back the up-front spend. Full guide: Points and Origination Fees: What You Actually Pay

Origination and points are the lender's. Appraisal, title, escrow, recording and transfer taxes are third-party or county costs that are broadly the same regardless of who funds you. Ask any lender to split the two, because only the first group is really being quoted. Full guide: Points and Origination Fees: What You Actually Pay

Usually not. Rehab funds are drawn as work completes, and interest typically accrues on what has been drawn rather than the full commitment. Assuming otherwise overstates your finance cost significantly on a large rehab. Full guide: What a 6-Month Flip Loan Actually Costs

Time. Carry runs every month you own the property, and running past your term adds extension fees on top of it. Most flips that lose money lose it on the schedule, not on the purchase price. Full guide: What a 6-Month Flip Loan Actually Costs

Add points, origination, and the interest you will actually pay over your real hold, then compare that single number. A lower rate with more points often costs more on a short hold, because points are paid in full regardless of how early you exit. Full guide: What a 6-Month Flip Loan Actually Costs

Usually a fee in points on the outstanding balance, sometimes with a rate step-up for the extended period, and you continue paying carry throughout. Terms are set case by case, so the number depends on the deal and how far along it is. Full guide: Extension Fees: What Happens When a Flip Runs Long

As soon as you can see the schedule slipping, ideally two months before maturity. A lender told early is working the problem with you; a lender told at maturity is managing a default, which is a materially worse conversation. Full guide: Extension Fees: What Happens When a Flip Runs Long

Often yes, and it is frequently the better answer. If the property is finished but has not sold, refinancing onto a DSCR loan and renting it converts the flip to a hold and the rent covers the carry. Check seasoning requirements before relying on it. Full guide: Extension Fees: What Happens When a Flip Runs Long

No. A property that is unoccupied and under renovation needs builder's risk or vacant property cover, plus liability for trades on site. A standard homeowner's policy on a vacant rehab can be void when you need it and will stop a funding. Full guide: Title and Insurance on an Investor Loan

The lender not being named correctly as mortgagee or loss payee. It is one line on the certificate, it is wrong surprisingly often, and it holds up funding until a corrected binder is issued. Full guide: Title and Insurance on an Investor Loan

Largely no. Title, escrow and recording are third-party and county costs, not lender margin, so they look similar regardless of who funds you. The lender's own lines - points and origination - are where quotes actually differ. Full guide: Title and Insurance on an Investor Loan

A low appraisal. Leverage is a percentage of value, so a value below expectation shrinks the loan and leaves you covering the gap, usually with days to go. On a rehab, an optimistic ARV is the same failure earlier in the chain. Full guide: What Kills a Loan at Underwriting

Because the source of equity has to be verified. A large deposit with no trail is a problem even when it is completely legitimate. Season the funds and keep the paper trail, and disclose gifts or partner money up front. Full guide: What Kills a Loan at Underwriting

Front-load it. Order title early, get insurance written on the correct basis with the lender named, have entity documents in order, and prepare your documents before you apply. Almost nothing on the list is quick to fix late. Full guide: What Kills a Loan at Underwriting

A DSCR (debt service coverage ratio) loan qualifies on the property's rental income instead of your personal income, so there are no W-2s or tax returns required. We compare the rent, from a signed lease or the appraiser's market-rent estimate, against the monthly payment. A DSCR of 1.00 means the rent covers the payment, and we lend with a DSCR as low as 0.75.

Our rental program starts around 5.50% interest-only, with 30-year fixed and 5/7/10-year ARM options, for a single property or a whole portfolio. The lowest pricing goes to strong credit, lower leverage, and a DSCR above 1.20; your quote depends on the file and is subject to underwriting.

We finance up to 80% loan-to-value on a purchase, with rate-and-term and cash-out refinances available, on loan amounts from $100K to $3M. Cash-out leverage is typically a little lower than purchase. The property's cash flow and your credit set your final leverage.

We start at 640, and the best pricing goes to strong credit. Because the loan qualifies on the asset, your score affects your rate and leverage more than whether you are approved.

Yes, short-term rentals are considered. We can underwrite using market or projected rents, and the property still needs to meet our DSCR. Tell us how the property is operated so we can structure it correctly.

Long-term rental loans usually carry a prepayment penalty, commonly a step-down such as 5/4/3/2/1. We offer flexible prepay structures, including buying down to a shorter penalty for a slightly higher rate, and we will lay out the options on your term sheet.

DSCR stands for debt service coverage ratio. It compares a property's rental income to its loan payment to see whether the rent covers the debt. Full guide: What Is a DSCR Loan? How Investors Qualify on Rental Income

Most lenders want a DSCR of at least 1.00, meaning the rent covers the payment. USA Mortgage lends with a DSCR as low as 0.75. Full guide: What Is a DSCR Loan? How Investors Qualify on Rental Income

No. A DSCR loan qualifies on the property's rent versus its payment, so there are no W-2s or tax returns required. Full guide: What Is a DSCR Loan? How Investors Qualify on Rental Income

Neither is universally better. Conventional is usually lower-cost if you can document income and your file fits the box; DSCR is faster, qualifies on the property, and has no property-count cap. Full guide: DSCR vs Conventional Loan: Which Is Better for Investment Property?

Often yes, if your situation changes and the property and your file qualify conventionally. Many investors move between the two over time. Full guide: DSCR vs Conventional Loan: Which Is Better for Investment Property?

Usually modestly higher, in exchange for speed, no income documentation, and qualifying on the asset instead of you. Full guide: DSCR vs Conventional Loan: Which Is Better for Investment Property?

Yes, with business-purpose loans like DSCR or portfolio loans, which are designed to close in an entity's name. Most conventional consumer mortgages cannot. Full guide: How to Finance a Rental Property in an LLC

Usually yes. The loan and title sit with the LLC, but the lender typically asks the principal to personally guarantee it. Full guide: How to Finance a Rental Property in an LLC

Many investors use a single-purpose LLC per property for liability separation and clean books, though some group properties. Confirm structure with your attorney and CPA. Full guide: How to Finance a Rental Property in an LLC

Most lenders look for around 660 to 680; USA Mortgage lends from 640. A higher score earns a better rate and more leverage; a lower score can sometimes be offset with a larger down payment. Full guide: What Credit Score Do You Need for a DSCR Loan?

No. A DSCR loan qualifies on the property's rent versus its payment, so there is no personal income or tax-return test. Credit and the property carry the file. Full guide: What Credit Score Do You Need for a DSCR Loan?

It is harder and pricier, but possible with a strong property and a larger down payment. The lower the credit, the more the deal has to carry. Full guide: What Credit Score Do You Need for a DSCR Loan?

By moving to business-purpose loans like DSCR and portfolio loans, which qualify on the properties rather than counting against conventional property limits or your debt-to-income ratio. Full guide: How to Scale a Rental Portfolio

The BRRRR method, recycling the same capital by refinancing it back out after each deal, combined with DSCR loans that have no property-count cap. Full guide: How to Scale a Rental Portfolio

Most investors do, for liability separation and clean books, and because DSCR and portfolio loans are built to close in an entity's name. Full guide: How to Scale a Rental Portfolio

Yes. A DSCR cash-out refinance qualifies on the property's rent, so you can convert equity to cash without a personal income test. Full guide: Cash-Out Refinance on an Investment Property

It depends on the property's value, the lender's loan-to-value limit, and whether the rent covers the new payment. Stronger value and rent let you pull more. Full guide: Cash-Out Refinance on an Investment Property

Common uses are the refinance leg of a BRRRR deal, pulling equity to fund the next purchase, or replacing a bridge loan with long-term debt. Full guide: Cash-Out Refinance on an Investment Property

You pay only the interest for a set period, with no principal, which lowers the payment. The principal is repaid later at sale, refinance, or when the loan starts amortizing. Full guide: What Is Interest-Only Financing for Investors?

Lower payments mean higher cash flow on rentals (and a better DSCR) and lower carrying cost on short-term flip or bridge deals. Full guide: What Is Interest-Only Financing for Investors?

It boosts cash flow but builds no equity through principal during the interest-only period. It suits short holds best; for long holds, compare it to an amortizing option. Full guide: What Is Interest-Only Financing for Investors?

DSCR = monthly rent divided by the monthly payment (PITIA: principal, interest, taxes, insurance, and association dues). A DSCR of 1.00 means the rent exactly covers the payment. Full guide: How to Calculate DSCR (With Examples)

1.00 is the common floor (breakeven). Above that is positive cash flow; 1.20 or higher gives comfortable cushion and better loan terms. Full guide: How to Calculate DSCR (With Examples)

Increase rent, or lower the payment with a larger down payment or a longer term or interest-only structure. Both raise the ratio. Full guide: How to Calculate DSCR (With Examples)

Most do, because they are priced as long-term holds. The usual shape is a step-down over three to five years. Some programs offer a penalty-free option in exchange for a higher rate, which can be worth it if you expect to sell early. Full guide: Prepayment Penalties on DSCR Loans

It is a step-down schedule. You pay 5% of the balance if you pay the loan off in year one, 4% in year two, 3% in year three, and so on, with no penalty after year five. Full guide: Prepayment Penalties on DSCR Loans

It depends on where rates have moved. Yield maintenance pays the lender the value of the interest they lose, so it gets costlier when rates have fallen since you closed and can be close to nothing when they have risen. A step-down is predictable; yield maintenance is not. Full guide: Prepayment Penalties on DSCR Loans

It counts financed properties, not owned ones. A rental you own free and clear does not consume a slot. Your primary residence, if mortgaged, usually does, which catches people out when they count only rentals. Full guide: The Ten-Financed-Property Limit and What Comes Next

For most investors, a DSCR loan. It qualifies on the property's rent rather than your returns and is not bound by the same agency count. You typically accept a higher rate in exchange for the constraint disappearing. Full guide: The Ten-Financed-Property Limit and What Comes Next

Not on its own. Entity ownership changes the lending conversation but does not by itself clear a personal financed-property count, and transferring a mortgaged property has its own consequences. Consolidating into a portfolio loan is usually the more direct route. Full guide: The Ten-Financed-Property Limit and What Comes Next

A required waiting period before a lender will lend against something. Title seasoning is how long you have owned the property; value seasoning is how long a new, higher value must exist before it can be used. They are different clocks. Full guide: Seasoning: How Long You Must Own Before You Refinance

Only where value seasoning applies. If a program lends against current appraised value without a waiting period, BRRRR works as intended. Where it does not, your capital stays in the deal until the clock runs, so confirm the rule before you buy. Full guide: Seasoning: How Long You Must Own Before You Refinance

Get it leased and keep the rehab documented. A signed lease evidences the new value and is what a DSCR loan qualifies on anyway. Invoices and permits support the appraisal. Neither overrides a program rule, but both strengthen the file. Full guide: Seasoning: How Long You Must Own Before You Refinance

No. Cap rate excludes financing entirely, which makes it a good comparison tool and a poor decision tool. Two investors buying the same building at the same cap rate can have very different outcomes depending on their leverage and cost of capital. Full guide: Which Return Metric Should Drive Your Buy

Not on its own. Cash-on-cash rises as leverage rises, because you are putting less of your own money in. A high figure on thin debt coverage is a deal with no margin for a vacancy. Check DSCR alongside it. Full guide: Which Return Metric Should Drive Your Buy

DSCR, because it measures whether the property covers its own debt service. It is a durability metric rather than a return metric, and it is what a DSCR loan qualifies on - our program starts from 0.75. Full guide: Which Return Metric Should Drive Your Buy

We fund new construction up to 70% of value and up to 85% of total cost (land plus build), in most states, on loans up to $5M. Experienced builders reach the higher end of leverage. We finance both the lot and the vertical construction within those caps.

Yes. Lot acquisition is funded as part of your loan-to-cost. If you already own the lot, that equity can serve as your down payment, which often lets us fund most or all of the build cost.

Construction funds are released in draws as milestones are completed and verified, not handed over at closing. You submit your budget and scope of work up front, complete a phase, request a draw, and we release that portion after inspection. You pay interest on funds as they are drawn.

Our construction pricing starts around 10%, interest-only, on terms of 12 to 24 months. Market ground-up rates generally run 9% to 12% with 1 to 3 points. Your pricing and leverage depend on your build experience and the strength of the project.

We consider builders at all levels, though a track record helps your leverage and rate. A first-time builder should expect to bring a strong general contractor, a detailed budget, and typically a larger equity contribution. A well-documented project goes a long way.

The lot cost or current value, your construction budget and scope of work, the projected after-built value, and your build experience. With those we can size the loan against both cost and completed value and send you terms.

A draw is a scheduled release of loan funds tied to a completed and inspected stage of construction, such as foundation or framing. You pay interest only on funds drawn so far. Full guide: How Ground-Up Construction Loans Work

LTC (loan-to-cost) sizes the loan against total project cost during the build. LTV (loan-to-value) measures the loan against the finished or as-is value. Construction loans lead with LTC. Full guide: How Ground-Up Construction Loans Work

Yes, with a sound budget, permits, and a realistic plan, though experienced builders typically qualify for higher leverage and better pricing. Full guide: How Ground-Up Construction Loans Work

Funds release in stages tied to completed, inspected milestones. You pay interest only on the amount drawn so far, and you typically fund each stage before reimbursement. Full guide: What Is a Draw Schedule on a Construction Loan?

It varies, but draws usually map to major milestones such as foundation, framing, roof, mechanicals, and finish, often a handful across the project. Full guide: What Is a Draw Schedule on a Construction Loan?

No. You pay interest only on funds that have been drawn, which keeps early-stage carrying costs lower. Full guide: What Is a Draw Schedule on a Construction Loan?

A construction loan funds building a new structure from the ground up and is sized on loan-to-cost. A renovation loan funds improving an existing property and is usually paired with purchase leverage and capped against ARV. Full guide: New Construction Loan vs Renovation Loan: What's the Difference?

Yes. Both release funds in stages as work is completed and inspected, but construction follows build milestones while renovation follows the scope of work. Full guide: New Construction Loan vs Renovation Loan: What's the Difference?

A ground-up construction loan, since you are creating a new structure. Improving a standing building uses a renovation or fix and flip loan. Full guide: New Construction Loan vs Renovation Loan: What's the Difference?

The borrower pays, and it is normally deducted from the draw rather than invoiced separately. It is a third-party cost, not part of the lender's origination, so it looks broadly similar whoever funds the build. Full guide: Draw Inspections: Fees, Timing, and What Holds Up a Draw

Percentage of completion. They confirm the line items you billed for are finished to the stage claimed. They are not checking quality or code compliance - that is the municipal building inspector, a separate visit. Full guide: Draw Inspections: Fees, Timing, and What Holds Up a Draw

Almost always because the work found on site was behind the work billed. If you request 60% and the inspector verifies 45%, the draw funds at 45% and you cover the difference until the next release. Billing slightly behind actual progress avoids it. Full guide: Draw Inspections: Fees, Timing, and What Holds Up a Draw

Often yes, and licensed experience helps your file rather than hurting it. Expect the budget and any GC fee to your own company to be reviewed closely, and disclose the relationship up front. Requirements vary by program and are set in underwriting. Full guide: Financing for Contractors: Funding Your Own Builds

No. Draw budgets fund materials and paid subcontractors, against verified completion. Your own labor builds real equity in the finished value, but it does not draw against the loan, so plan your cash accordingly. Full guide: Financing for Contractors: Funding Your Own Builds

That is the normal contractor profile, and it is what bank statement and no-doc programs are built for. On a business-purpose build, the project and your track record usually carry more weight than the return does. Full guide: Financing for Contractors: Funding Your Own Builds

No. You receive the acquisition or land portion at closing; the construction portion is released in draws as work is completed and verified. The commitment is the full amount, but the cash arrives in stages. Full guide: Construction Loan Disbursement: How the Money Reaches You

It depends on the inspection and lien release cycle: request, inspect, report, collect releases, disburse. Each step is real calendar time and it repeats every draw, so plan working capital for at least one full cycle. Full guide: Construction Loan Disbursement: How the Money Reaches You

A percentage of each draw held back until the project is complete and signed off. It protects against a job abandoned near the end. Budget for it, because that money is unavailable mid-build even on work that is finished. Full guide: Construction Loan Disbursement: How the Money Reaches You

Bridge capital is for repositioning or stabilizing a commercial property before permanent financing: value-add, lease-up, a partner buyout, or pulling equity out through a cash-out. We lend across property types on terms up to 24 to 36 months, with loans up to $10M.

Our commercial bridge pricing starts around 9%, interest-only, up to roughly 75% loan-to-value, on terms up to 24 to 36 months. Published bridge pricing generally runs 8% to 12% with 1 to 3 points. Final terms depend on the asset, the business plan, and sponsor strength.

Commercial deals usually close in 2 to 4 weeks. They take a little longer than residential because of the appraisal, the rent roll and operating-statement review, and any third-party reports. We move as fast as the diligence allows and keep one point of contact on your file.

Not necessarily at closing. Bridge loans are often underwritten interest-only to the as-stabilized business plan rather than a minimum in-place DSCR, since the property is being repositioned. We do want to see a credible path to stabilization and enough in-place income or reserves to carry the loan.

Typically the purchase contract or current debt, a rent roll and trailing-12-month operating statement, your business plan and renovation budget, and sponsor financials. Larger assets may also need a property condition report and an environmental review. We will give you a clear checklist up front.

Most bridge loans are recourse with a personal guarantee, while lower-leverage non-recourse can be possible on stronger assets. Cash-out is available when there is equity to support it. We structure recourse and leverage around the specific deal.

Bridge loans are short-term, commonly 12 to 36 months, and are paid off when the property sells or refinances into permanent financing. Full guide: What Is a Bridge Loan in Real Estate?

Yes. A common use of a commercial bridge loan is a cash-out against existing equity to fund another project before permanent financing is in place. Full guide: What Is a Bridge Loan in Real Estate?

They overlap. Bridge describes the purpose (covering a gap), while hard money describes the asset-based, fast-funding style. Most bridge loans from a private lender are hard money loans. Full guide: What Is a Bridge Loan in Real Estate?

A bridge loan is short-term, fast, and flexible for acquiring or repositioning a property. Permanent financing is long-term and lower-cost, for stabilized property held for the long run. Full guide: Commercial Bridge vs Permanent Financing

Yes, that is the standard path. You use a bridge to acquire and stabilize, then refinance into long-term permanent debt at a lower rate. Full guide: Commercial Bridge vs Permanent Financing

Permanent lenders require stabilized, documented income and close slower. If a property is not yet stabilized or you need speed, a bridge loan fills the gap. Full guide: Commercial Bridge vs Permanent Financing

It is the plan for how you repay the bridge loan at maturity, usually a refinance into long-term debt, a sale of the property, or stabilizing the asset so it qualifies for permanent financing. Full guide: Bridge Loan Exit Strategies: How to Pay Off Short-Term Debt

Bridge terms range from about 6 months on a flip to 24 to 36 months on commercial bridge, and extensions are considered case by case, not guaranteed. Tell us early so we can discuss options rather than reach the maturity date by surprise. Full guide: Bridge Loan Exit Strategies: How to Pay Off Short-Term Debt

Yes. Refinancing a stabilized rental from a bridge loan into a long-term DSCR loan is one of the most common exits, and it is the backbone of the BRRRR method. Full guide: Bridge Loan Exit Strategies: How to Pay Off Short-Term Debt

Effectively yes, but stated from the lender's perspective. The important difference is that advance rate is often quoted without naming the base, and the base - purchase price, appraised value, cost, or after-repair value - changes the money more than the percentage does. Full guide: What Is an Advance Rate?

Because they are advancing against different values. 80% of purchase price, 80% of appraised value, and 80% of the lower of the two are three different loans. Always ask which base applies and who determines that value. Full guide: What Is an Advance Rate?

Anything that makes the asset easier to sell. Property type, condition, market liquidity, and borrower experience all move it. A lender advances more against collateral they are confident they could exit quickly if they had to. Full guide: What Is an Advance Rate?

The lender in first position is paid in full before any junior lien receives anything if the property is sold or foreclosed. It is the senior claim on the collateral, which is why most short-term lending requires it. Full guide: Lien Position: First, Second, and Why It Changes Your Rate

Because the second lender absorbs the shortfall in any scenario where the sale does not cover the total debt. They carry loss exposure the first does not, and that risk is priced into the rate and leverage. Full guide: Lien Position: First, Second, and Why It Changes Your Rate

When your existing first is well below market and you do not want to disturb it, when the need is short-term, or when a prepayment penalty makes a full refinance costly. Run the total cost of both routes before deciding. Full guide: Lien Position: First, Second, and Why It Changes Your Rate

Transactional funding is short-term capital that funds the A-to-B leg of a back-to-back (double) closing, so you can resell to your end buyer (B-to-C) the same day. It is built for wholesalers and assignment deals where you need to take title briefly without using your own cash.

It is priced as a flat fee rather than an interest rate, since the money is only out for a day or two. Market pricing generally runs about 1% to 3% of the amount funded, with a dollar minimum on small deals. You also cover the normal double-close costs such as title, escrow, and recording.

We can fund up to 100% of your purchase price on the A-to-B closing, so you bring no money to the table. The loan is repaid directly from the proceeds of your simultaneous B-to-C sale.

No. Transactional funding requires no credit check and no appraisal. Approval rests on a verified, ready-to-close end buyer rather than your personal finances, which is why it can fund same-day.

Your executed A-to-B and B-to-C contracts, proof of the end buyer's funds, and a title or escrow company that allows back-to-back closings. With those in hand we can fund the same day.

Very short, usually a matter of days. It is designed to be repaid out of the same-day or next-day resale, not held like a normal loan.

An assignment transfers your purchase contract to the end buyer for a fee. Transactional funding instead funds an actual purchase and resale (a double close), useful when the end buyer's lender will not allow an assignment. Full guide: What Is Transactional Funding? (Double Closings for Wholesalers)

Usually hours. The A-to-B and B-to-C closings happen back to back, often the same day, so the capital is repaid almost immediately from the end buyer's funds. Full guide: What Is Transactional Funding? (Double Closings for Wholesalers)

Credit matters far less than on a normal loan because the financing is repaid the same day from the resale. The deal and the end buyer drive the approval. Full guide: What Is Transactional Funding? (Double Closings for Wholesalers)

No. Transactional funding covers the A-to-B leg of a same-day double closing and is repaid within hours. Hard money is a short-term loan, often months, used to buy and renovate a property. Full guide: Transactional Funding vs Hard Money: Which One Fits Your Deal?

Transactional funding is priced as a flat fee, usually 1% to 3% of the amount funded, because it is outstanding for a day or two. Hard money charges interest plus points over the months you hold the loan. Full guide: Transactional Funding vs Hard Money: Which One Fits Your Deal?

When you are doing a true back-to-back (double) closing and your title company requires your own funds on the A-to-B side before the B-to-C sale funds you. Full guide: Transactional Funding vs Hard Money: Which One Fits Your Deal?

A double closing is two back-to-back transactions on the same day: you buy from the seller (A-to-B), then immediately resell to your end buyer (B-to-C). Transactional funding covers the first leg. Full guide: Double Closing Explained: How Wholesalers Close A-to-B-to-C

When properly disclosed, double closings are a recognized, widely used way to complete a wholesale deal. Both transactions must be disclosed to the title or escrow company and to any end-buyer lender, and state wholesaling and licensing rules vary, with some states restricting same-day resales or pass-through funding, so confirm the structure with your title company and local counsel. Full guide: Double Closing Explained: How Wholesalers Close A-to-B-to-C

An assignment transfers your purchase contract to the end buyer for a fee and never puts the property in your name. A double closing actually buys and resells the property, which keeps your spread off the end buyer's settlement statement while both transactions stay fully disclosed to title and any end-buyer lender. Full guide: Double Closing Explained: How Wholesalers Close A-to-B-to-C

A bank statement loan qualifies you on 12 to 24 months of business or personal bank deposits instead of tax returns, which suits self-employed borrowers whose returns understate their real income. A no-doc (or no-ratio) loan goes further and leans on the property and your reserves rather than any income calculation. Both are business-purpose loans for investment property, not consumer mortgages.

Correct. We do not ask for tax returns, W-2s, or pay stubs on these programs. We verify the deal, your credit, and either your bank-statement cash flow or your reserves, depending on the structure. It is built so write-offs and a complex return do not work against a strong borrower.

Self-employed investors, business owners, and 1099 or commission earners whose write-offs shrink their taxable income. If your bank deposits tell a stronger story than your tax return, this is usually the right fit.

We lend from a credit score of 640, with the best terms going to stronger credit, and a down payment starting around 20%. Across the market these programs often want 660 or higher and 20% to 30% down. Stronger credit and more equity improve both your rate and your leverage.

Pricing is higher than a fully documented conventional loan because the lender takes on more uncertainty, and it varies with your credit, leverage, and the structure. We offer both short-term and long-term options, so we match the term to whether you are flipping, bridging, or holding.

Yes. These are business-purpose loans and routinely close in an LLC or other entity. Holding investment property in an entity is standard and often preferred.

A bank statement loan qualifies a self-employed borrower using 12 to 24 months of bank deposits to show real cash flow, instead of tax returns or W-2s. Full guide: Bank Statement and No-Doc Loans for Self-Employed Investors

Not literally. No-doc means no income documentation; the loan qualifies on the asset (value or rent). You will still verify identity, the entity, the property, and reserves. Full guide: Bank Statement and No-Doc Loans for Self-Employed Investors

Self-employed investors, business owners, and anyone whose tax returns understate their true income because of write-offs. Full guide: Bank Statement and No-Doc Loans for Self-Employed Investors

A no-doc (or no-ratio) loan is a business-purpose investment loan that qualifies on the property, your credit, and your reserves rather than any income documentation. There is no tax return or income calculation. Full guide: No-Doc Investment Property Loans: How They Work in 2026

Yes. No-doc lending is legal for business-purpose, non-owner-occupied property. The ability-to-repay rules that restrict no-doc consumer mortgages do not apply to business-purpose loans, which is why the loan's purpose and the property's occupancy must always be stated accurately. Full guide: No-Doc Investment Property Loans: How They Work in 2026

Programs commonly look for a credit score from about 640 to 680 depending on the lender (USA Mortgage's bank statement / no-doc program starts at 640, subject to underwriting) and a larger down payment than a documented loan, often 20% to 30%, with the best terms going to stronger credit and more equity. Full guide: No-Doc Investment Property Loans: How They Work in 2026

They average your deposits over 12 to 24 months, often applying an expense factor to estimate net business income. Personal and business statements can both be used depending on the program. Full guide: Bank Statement Loan Requirements for Self-Employed Investors

Most programs require 12 to 24 months of business or personal bank statements. A longer, steadier deposit history generally supports better terms. Full guide: Bank Statement Loan Requirements for Self-Employed Investors

Many lenders want a score around 660 or higher; USA Mortgage's program starts at 640, subject to underwriting, with the best pricing above 700, plus a larger down payment, often 20% to 30%, than a fully documented loan. Full guide: Bank Statement Loan Requirements for Self-Employed Investors

It is standard, competitively priced financing for a non-owner-occupied investment property, the long-term loan you take when your file fits the conventional box. It usually carries a lower rate than a bridge or DSCR loan, in exchange for full documentation.

A conventional loan qualifies on your documented personal income and credit, while a DSCR loan qualifies on the property's rent. Conventional pricing is often lower if you can document your income and you are within the limit on financed properties; DSCR is easier to scale and skips the income docs. We compare both and put you in the one that fits.

Plan on roughly 20% to 25% down on an investment-property purchase, with the best pricing at lower leverage and higher credit. Cash-out refinances are typically capped a bit lower than purchases.

Conventional investment financing generally wants a credit score around 580 or higher, and your rate improves meaningfully as your score and reserves go up. We will tell you up front where your file lands.

Purchases, rate-and-term refinances, and cash-out refinances on non-owner-occupied 1-4 unit investment property. If you will live in the property, that is owner-occupied financing, which we refer to a trusted partner rather than originate here.

Because it is fully documented, expect to provide income verification, tax returns, bank statements, and the standard conventional paperwork. If that documentation is a hurdle, our DSCR and bank-statement programs are the no-tax-return alternatives.

A portfolio or blanket loan rolls several rental properties into one loan with a single monthly payment, instead of a separate mortgage on each property. It simplifies your financing, frees up capital, and lets you scale a rental portfolio without managing a stack of individual loans.

These structures usually make sense at around five or more properties, though we can look at smaller groups. The portfolio can be a mix of single-family rentals, small multifamily, and other income property.

Yes. Most blanket loans include a release provision, so you can sell an individual property and pay down the loan by that property's allocated amount while the rest stays in place. We set the release terms up front.

We underwrite the combined cash flow and overall leverage of the portfolio, similar to a DSCR loan but across the whole group. Pricing depends on the asset mix, the leverage, and your experience, and loan amounts typically start around $500K.

Usually not. Like our DSCR program, a blanket rental loan qualifies on the portfolio's cash flow rather than your personal income, so tax returns are generally not required. We will want to see the rent roll and operating history.

Yes. A common use of a blanket loan is to consolidate existing mortgages and pull cash out of the combined equity, giving you capital to acquire more property. Cash-out leverage is set against the portfolio's value and cash flow.

A single loan secured by multiple properties, with one payment, used by investors to finance or consolidate several rentals at once. Full guide: What Is a Blanket Loan?

A provision that lets you sell one property out of the group and pay down a portion of the loan without paying off or refinancing the entire blanket loan. Full guide: What Is a Blanket Loan?

Often yes. Both describe financing multiple properties under one loan. Terms vary by lender, but the idea is the same. Full guide: What Is a Blanket Loan?

A blanket loan finances several properties under one loan and one monthly payment, while individual mortgages put a separate loan on each property. The blanket structure simplifies management as you scale. Full guide: Blanket Loan vs Individual Mortgages: Which Scales Better?

Yes. Most blanket loans include a release provision, so you can sell a single property and pay down the loan by that property's allocated amount while the rest stays in place. Full guide: Blanket Loan vs Individual Mortgages: Which Scales Better?

These structures usually make sense at around five or more properties, though smaller groups can sometimes qualify. The mix can include single-family rentals and small multifamily. Full guide: Blanket Loan vs Individual Mortgages: Which Scales Better?

Yes. A portfolio or blanket refinance consolidates several rental mortgages into a single loan with one payment, underwritten on the combined cash flow of the group. Full guide: How to Refinance a Rental Portfolio Into One Loan

Cash-out leverage is set against the portfolio's combined value and cash flow, typically a little lower than a purchase. The equity you free up can fund your next acquisition. Full guide: How to Refinance a Rental Portfolio Into One Loan

Usually not. Like a DSCR loan, a blanket rental refinance qualifies on the portfolio's cash flow rather than your personal income, so tax returns are generally not required. Full guide: How to Refinance a Rental Portfolio Into One Loan

One loan secured by more than one property. You pledge equity in something you already own to support a new loan, instead of contributing that equity as cash. It is the same principle a blanket or portfolio loan uses across a whole pool. Full guide: Cross-Collateralization: Using One Property's Equity to Buy Another

You have tied two assets together. A default on the combined facility puts both properties at risk, including one that was performing fine independently. Selling also gets harder: releasing a property normally needs a paydown and lender consent. Full guide: Cross-Collateralization: Using One Property's Equity to Buy Another

It is faster and preserves the existing rate on the property you pledge, which matters if that rate is good. A cash-out refinance is slower and may trigger seasoning, but it keeps the assets independent. The trade is speed against separation. Full guide: Cross-Collateralization: Using One Property's Equity to Buy Another

Permanent (or perm) financing is long-term debt on a stabilized commercial property, the loan you move into once a building is leased up and performing. It replaces short-term bridge or construction debt with a longer fixed term and a lower rate.

We place permanent debt through agency multifamily programs (Fannie Mae and Freddie Mac), insurance companies, and other wholesale lenders. Because we shop multiple sources, we can match your asset to the program with the best long-term terms.

Stabilized multifamily of five units and up, plus mixed-use and other commercial assets with a solid operating history. Agency multifamily in particular looks for occupancy and cash flow that support long-term debt.

The bridge program is short-term capital to acquire or reposition a property; permanent financing is the long-term exit once it is stabilized. Many investors use both in sequence, bridging to stabilize and then refinancing into permanent debt. We can line up both.

Permanent commercial rates run well below bridge pricing and move with the agency and wholesale market, on long fixed terms. The exact rate depends on the asset, the program, and current conditions, and we will walk you through the options.

Plan on several weeks, since agency and wholesale permanent loans require full underwriting, third-party reports, and lender approval. We manage the placement and keep one point of contact on your file from quote to close.

NOI divided by the loan amount. $400,000 of NOI against a $5,000,000 loan is 8% debt yield. It deliberately excludes the interest rate, amortisation and cap rate, which is exactly why lenders rely on it. Full guide: Debt Yield, and What Stabilized Actually Means

Because DSCR can be flattered by a low rate or a long amortisation, and cap rate can be flattered by a hot market. Debt yield is immune to both. In frothy markets it often becomes the binding constraint on loan size. Full guide: Debt Yield, and What Stabilized Actually Means

Occupancy at or near market, real leases in place, an operating history that shows the income repeats, and capital works finished. A property with leases starting next quarter is not stabilized - it is a bridge deal with a plan. Full guide: Debt Yield, and What Stabilized Actually Means

The 7(a) is the flexible, all-purpose SBA loan: owner-occupied real estate, business acquisition, partner buyouts, equipment, and working capital under one note. The 504 is purpose-built for owner-occupied commercial real estate and heavy equipment, with a long-term fixed rate and a low down payment. We place both and match your scenario to the right one.

SBA loans go up to $5M, with larger total project sizes possible on the 504 since a bank funds part of the deal. Down payments are low, often around 10%, rising to 15% to 20% for startups or special-purpose properties. On the right deal we finance up to 90%.

Terms run up to 25 years for real estate, which keeps payments low. 7(a) rates are usually variable and tied to the Prime rate, while the 504 carries a long-term fixed rate on the CDC portion. Because we place your file across 20+ SBA lenders, we shop your scenario for the strongest terms.

Yes. SBA real estate loans require owner-occupancy, at least 51% of an existing building or 60% of new construction. That requirement is what separates SBA-eligible deals from pure investment property, which fits our other programs.

Yes. The SBA requires a personal guarantee from anyone who owns 20% or more of the business, and on real-estate deals the loan is also secured by the property. This is standard on every SBA loan, not a sign of a weak file, and it is part of why SBA financing offers low down payments and long terms. We will walk you through exactly what you are signing before you commit.

SBA loans are slower than our bridge products, typically 30 to 90 days, because of the documentation and approval process. The tradeoff is a much lower long-term cost. If you need speed now, we can bridge the deal and refinance into SBA later.

Generally two to three years of business and personal tax returns, business financials, a personal financial statement, and details on the property or business. We will tell you exactly what is needed and place your file with the best-fit lender in our network.

The 504 is built for fixed assets like owner-occupied real estate, combining a bank loan, a CDC loan, and roughly 10% down. The 7(a) is a flexible general-purpose loan that can also fund working capital and business acquisition. Full guide: SBA 7(a) vs 504: Which Is Right for Owner-Occupied Real Estate?

No. SBA 7(a) and 504 require the business to occupy the majority of the property. They finance owner-occupied real estate, not passive rentals. Full guide: SBA 7(a) vs 504: Which Is Right for Owner-Occupied Real Estate?

Typically around 10% for a standard owner-occupied purchase, though it can be higher for special-purpose properties or startups. Full guide: SBA 7(a) vs 504: Which Is Right for Owner-Occupied Real Estate?

Owner-occupied commercial real estate and heavy equipment. It is built for a business buying or building the property it operates from, not for pure investment real estate. Full guide: SBA 504 Loans for Owner-Occupied Commercial Real Estate

Often around 10%, rising to 15% to 20% for startups or special-purpose properties. A bank funds part of the deal and a CDC funds the long-term fixed-rate portion. Full guide: SBA 504 Loans for Owner-Occupied Commercial Real Estate

Your business must occupy at least 51% of an existing building or 60% of new construction. That owner-occupancy rule is what separates SBA-eligible deals from investment property. Full guide: SBA 504 Loans for Owner-Occupied Commercial Real Estate

Often around 10%, rising to 15% to 20% for startups or special-purpose properties. On the right deal an SBA loan can finance up to 90% of the project. Full guide: SBA Loan Down Payment, Rates, and Terms Explained

Up to 25 years for real estate, which keeps payments low. Equipment and working-capital portions carry shorter terms. The long amortization is a core advantage of SBA financing. Full guide: SBA Loan Down Payment, Rates, and Terms Explained

7(a) rates are usually variable and tied to the Prime rate, while the SBA 504 carries a long-term fixed rate on the CDC portion. Placing your file across multiple lenders helps find the strongest pricing. Full guide: SBA Loan Down Payment, Rates, and Terms Explained

It turns on use of proceeds. If you need working capital or are buying a business alongside the property, 7(a) handles it in one facility. If it is purely owner-occupied real estate, 504 offers a fixed-rate debenture portion that is attractive on a long hold. Full guide: The $1M SBA Loan: What 7(a) and 504 Look Like at That Size

No. SBA real estate financing requires the property to be owner-occupied, with your business occupying at least 51% of the rentable space in an existing building, or 60% in new construction. A property you intend to lease out entirely needs conventional or CRE financing instead. Full guide: The $1M SBA Loan: What 7(a) and 504 Look Like at That Size

Because the structure pairs a conventional first from a lender with a debenture through a Certified Development Company, and you contribute the balance. It means more coordination and a longer timeline, in exchange for a fixed rate on the debenture portion. Full guide: The $1M SBA Loan: What 7(a) and 504 Look Like at That Size