Six products. One platform.

Single Family | Build

Construction financing for experienced builders, from individual homes to phased residential developments.

Financing uses

Building individual single-family homes, accessory dwelling units, higher-end custom homes, and infill development
Developing large and phased projects, including townhouses, subdivisions, and multi-home communities
Funding horizontal and vertical development for homebuilders
Developing build-to-rent and attainable-housing projects

Lending guidelines

Single Family | Bridge—lending guidelines

Loan amount

$100,000 to $4 million

Loan term

12, 18, or 24 months

Loan to cost

Up to 97.5%, depending on market and sponsor experience

Loan to value

Up to 80% of after-renovation value

Renovation budget

Up to 200% of acquisition price, depending on sponsor experience

Eligible borrowers

Limited liability companies, limited partnerships, corporations, and individuals (in select states, where allowed by law)

Recourse

Personal guarantee from key sponsor(s)

Credit history

Minimum 680 FICO, no recent serious delinquencies, foreclosures, or bankruptcies

Liquidity

Reserves for down payment, closing costs, debt service, and project working capital

Property valuation

Internal review supported by a third-party opinion of value, designed for FIRREA compliance and predictable closings

Closing timeline

4+ days for returning borrowers; 10+ days for first-time platform borrowers (depending on completion of borrower tasks and escrow, title, insurance, and other third-party timelines)

Renovation funding

Covers 100% of the renovation budget, drawn as work is completed to reimburse eligible expenses and replenish working capital

Interest rate

Interest is charged on disbursed funds; the rate is priced as a spread to SOFR and fixed at closing for the loan term

Mortgage payments

Monthly ACH payments cover mortgage interest; principal is due at payoff

Terms are indicative, subject to change without notice, and subject to factors considered in underwriting.

Single Family | Build—lending guidelines

Loan amount

$250,000 to $15+ million

Loan term

12–36 months

Loan to cost

Up to 90%, depending on market and sponsor experience

Loan to value

Up to 75% of the after-construction value

Construction budget

Reimbursed through a construction holdback as work is completed

Eligible borrowers

Limited liability companies, limited partnerships, and corporations; individuals are not eligible

Recourse

Personal guarantee from key sponsor(s) is typical; corporate guaranty and limited recourse solutions can be structured

Credit history

Minimum 700 FICO, no recent serious delinquencies, foreclosures, or bankruptcies

Liquidity

Sufficient for closing costs and working capital

Property valuation

Construction appraisal; customary third-party feasibility, entitlement, development-plan, and environmental reviews

Construction funding

Covers 100% of hard costs and customary soft costs, drawn as work is completed to reimburse eligible expenses

Interest rate

Interest is charged on disbursed funds; the rate is priced as a spread to SOFR and fixed at closing for the loan term

Mortgage payments

Interest is either supported by a reserve or collected monthly through ACH; principal is due at payoff

Closing timeline

3+ weeks, depending on completion of borrower tasks and third-party timelines

Terms are indicative, subject to change without notice, and subject to factors considered in underwriting.

Single Family | Rental.

Long-term financing for stable, cash-flowing residential rentals.

Financing uses

Holding traditional rentals and vacation rentals
Accessing equity invested in property acquisitions and renovations
Financing single-family rental portfolios with a single mortgage
Acquiring stable properties with long-term mortgage debt

Lending guidelines

Single Family | Equity.

A revolving line of credit that taps the equity in investment properties.

Financing uses

Accessing equity in investment properties with a conventional or DSCR first mortgage
Accessing capital to start or grow a business, including acquisitions, renovations, and portfolio growth
Accessing property equity while preserving low-interest-rate first mortgages

Lending guidelines

Single Family | Rental—lending guidelines

Loan amount

$75,000 to $4 million

Loan term

30-year term; fully amortizing or interest-only for 10 years; fixed- and adjustable-rate options

Loan to value

Up to 80% for purchase, refinance, and cash-out refinance, subject to FICO and other considerations

DSCR

Typically 1.15x or higher, with options available down to 0.75x

Eligible rental income

Long- and short-term rentals; vacant properties permitted; rent-by-the-room properties are not eligible

Income calculation

Underwritten using the lower of in-place or market rent

Recourse

Personal guarantee

Prepayment penalty

Options from zero to five years; interest-rate pricing varies with the prepayment-penalty term

Eligible borrowers

Limited liability companies, limited partnerships, corporations, and individuals (in select states, where allowed by law)

Credit history

Minimum 660 FICO, no recent serious delinquencies, foreclosures, or bankruptcies

Property valuation

Hybrid appraisal; full appraisal for loans over $400,000

Terms are indicative, subject to change without notice, and subject to factors considered in underwriting.

Single Family | Equity—lending guidelines

Loan amount

$50,000 to $750,000

Initial draw

75% or 100% of the line at the borrower's discretion, with a 90-day lockout after the initial draw

Revolving period

Three-year revolving period beginning 90 days after closing

Repayment term

20-year amortization period starting after the revolving period

Loan to value

Up to 75% combined LTV, depending on FICO

Recourse

Personal guarantee

Early repayment

Prepayment fee if the loan is paid off within 180 days of closing

Eligible borrowers

Limited liability companies, limited partnerships, corporations, and individuals (in select states, where allowed by law)

Credit history

Minimum 680 FICO, no recent serious delinquencies, foreclosures, or bankruptcies

Eligible properties

Single-family homes, townhouses, condos, PUDs, and 2–4-unit properties

Property valuation

Automated valuation; exterior appraisal for loan amounts greater than $400,000

Terms are indicative, subject to change without notice, and subject to factors considered in underwriting.

Multifamily | Value Add.

Short-term financing to acquire and reposition multifamily and mixed-use residential properties.

Financing uses

Acquiring underperforming apartment properties for renovation and repositioning
Funding apartment renovations, common-area upgrades, and other capital improvements
Acquiring and repositioning mixed-use residential properties
Financing properties through renovation and stabilization before permanent refinancing or sale

Lending guidelines

Multifamily | Small Balance.

Long-term financing to acquire or refinance stabilized rental properties with 5–10 units.

Financing uses

Acquiring cash-flowing properties for long-term ownership
Refinancing existing mortgages, including loans approaching maturity
Replacing short-term acquisition or renovation financing after a property stabilizes
Accessing equity through cash-out refinancing while retaining ownership

Lending guidelines

Multifamily | Value Add—lending guidelines

Loan amount

$500,000 to $5 million

Loan term

12, 18, or 24 months

Loan to cost

Up to 80%

Loan to value

Up to 65% of stabilized value

Recourse

Personal guarantee

Eligible borrowers

Limited liability companies, limited partnerships, and corporations; individuals are not eligible

Credit history

Minimum 700 FICO, no recent serious delinquencies, foreclosures, or bankruptcies

Liquidity

Sufficient for closing costs and working capital

Property valuation

Commercial appraisal

Terms are indicative, subject to change without notice, and subject to factors considered in underwriting.

Multifamily | Small Balance—lending guidelines