From Ground Up to Fix & Flip

Short-term financing to free-up real estate investors' capital for the renovation or ground-up construction of investment properties. 

Renovation Loans

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New Construction Loans

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Renovation Loans

Truly Renovation Loans allow investors to executive business plans ranging from light renovations to complex property transformations, with financing terms structured to fix their needs.
Renovation Loan Overview

Eligible Collateral

Fixed rate, Interest Only

Seasoned Refinance: As-Is Appraised Value + Remaining Budget
Unseasoned Refinance: Lesser of (Purchase Price or As-Is Value) + Remaining Budget

Not Applicable

10% of the rehab budget + cash to close (equity shortage may be added)

6 months of interest only payments

NV, ND, SD, VT (AK & HI considered on an exception basis)

Purchase, Delayed Purchase, Rate/Term Refinance, Cash-Out Refinance

1st position lien secured by a mortgage, deed of trust, or other security instrument

1-4 Units, SFR/PUD, Condo, NW Condo, Townhome, 5-9 Units (exceptions: > 2 acres; Mixed-use)

12 months - 18 months

Business Purpose RTL (Non-Owner Occupied)

Loan Type

Lien Position

Loan Term

Loan Purpose

Ineligible States

Reserve Requirement

Liquidity Requirement

Cost Basis

Prepayment Penalty

Interest Charged

1-4 Unit Properties









5-9 Unit Properties









Full Appraisal (URAR, 1025, 1073)

CDA may be required

$2M (Tier 3 & 4 ineligible)

Commercial Narrative

CDA may be required

$100k

$500k

$5M

Minimum Loan Amount

Maximum Loan Amount

Appraisal Requirement

New Construction Loans

Truly's New Construction Loan program is designed to support investors and builders undertaking the development of new residential projects from inception through completion.
New Construction Loan Overview

Eligible Collateral

Fixed rate, Interest Only

Seasoned Refinance: As-Is Appraised Value + Remaining Budget
Unseasoned Refinance: Lesser of (Purchase Price or As-Is Value of the lot) + Remaining Budget

Teardowns will utilize the lesser of the net purchase price of the existing property or As-Is value of the land

Not Applicable

10% of the rehab budget + cash to close + equity shortage

6 months of interest only payments

NV, ND, SD, VT (AK & HI considered on an exception basis)

Purchase, Delayed Purchase, Rate/Term Refinance, Cash-Out Refinance

1st position lien secured by a mortgage, deed of trust, or other security instrument

1-4 Units, SFR/PUD, Condo, NW Condo, Townhome, 5-9 Units (exceptions: > 2 acres; Mixed-use)

12 months - 24 months

Business Purpose RTL (Non-Owner Occupied)

Loan Type

Lien Position

Loan Term

Loan Purpose

Ineligible States

Reserve Requirement

Liquidity Requirement

Cost Basis

Prepayment Penalty

Interest Charged

1-4 Unit Properties









5-9 Unit Properties









Full Appraisal (URAR, 1025, 1073)

CDA may be required

$2M (Tier 3 & 4 ineligible)

Commercial Narrative

CDA may be required

$100k

$500k

$5M

Minimum Loan Amount

Maximum Loan Amount

Appraisal Requirement