Short-Term Financing

Renovation Loans

Truly Renovation Loans allow investors to execute business plans ranging from light renovations to complex property transformations, with financing terms structured to fit their needs.

Fix & flip financing

Up to 95% of the cost basis

100% of rehab costs financed

Interest-only payments

In-house Construction Management

12-18 month terms

Call 866-219-2294

Program Highlights

Loan Amounts$100K - $5M

Loan Terms12-18 Months

Interest TypeFixed, Interest Only

Property TypesSFR, Condo, Townhomes, 2-4, 5-9

Program Details

Renovation Loan Overview

Comprehensive financing for fix and flip or value-add investment projects.

Loan Terms & Requirements

Loan TypeBusiness Purpose RTL (Non-Owner Occupied)

Eligible Collateral1-4 Units, SFR/PUD, Condo, NW Condo, Townhome, 5-8 Units (exceptions: > 2 acres; Mixed-use)

Lien Position1st position lien secured by a mortgage, deed of trust, or other security instrument

Loan Term12 months - 18 months

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

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

Interest ChargedFixed rate, Interest Only

Reserve Requirement6 months of interest only payments

Liquidity Requirement10% of the rehab budget + cash to close (equity shortage may be added)

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

Prepayment PenaltyNot Applicable

Property Type Requirements

	1-4 Unit Properties	5-8 Unit Properties
Minimum Loan Amount	$100K	$500K
Maximum Loan Amount	$5M	$2M (Tier 3 & 4 Ineligible)
Appraisal Requirement	Full Appraisal (URAR, 1025, 1073) CDA may be required	Commercial Narrative CDA may be required