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Loan Programs

For borrowers that are looking for loans outside the State of Washington, we have a wide variety of options available to you!

As you can imagine, we want to get you to an answer as fast as possible, so we are sharing some information about the programs we have available to borrowers. We tried to make things as easy as possible, so the digital loan application takes only a few minutes to complete.

If you have any questions about loan products on this page, please email loans@lend2live.com and we can get back to you ASAP.

A few broad terms to keep in mind for all our loan programs:

  • We only lend on non-owner occupied property, so no house hacking or second homes.
  • We do not currently lend in AK, HI, NV, ND, SD, or WY.
  • We do not lend on manufactured homes or mixed-use buildings.
  • There will be a minimum credit score requirement, usually 660.
  • We do not have 100% financing programs at this time.
  • No rural properties at this time.
  • Rates and Terms can be given after a short application.
  • Credit pulls for short-term loans are soft pulls only.
  • Add additional borrowers to help meet liquidity, experience, or credit minimums.
  • For these programs we cannot allow recorded second liens behind these loans.
  • Only one guarantor per LLC with a minimum of 25% ownership is required to sign.

Programs

Adding Value Program

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Adding Value Program

  • Use for those properties that need some renovation or updating, even if you want to hold onto it as a rental.
  • Length of Loan: 12 to 18 months.
  • Minimum loan amount is $100,000.
  • 85% Loan to Cost (15% downpayment on purchase price) and up to 70% ARV.
  • Need reserves of 3 months of mortgage payments after downpayment and closing costs and 15% of renovation budget if we fund renovations (75% of renovation budget if not funding renovations).
  • Available for single-family homes, 2-8 unit multifamily properties, townhouses, and warrantable condos.
  • No prepayment penalties.
  • Terms vary depending on experience and credit score.
  • Can close in 10 to 15 business days, 5 to 7 days for repeat borrowers.

Buy & Hold Rental Program

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Buy & Hold Rental Program

  • Available for properties rented on longer-term leases (6+ months).
  • Stabilized and cash-flowing rental property, single-family homes, 2-4 unit multifamily, condos, and townhouses.
  • DSCR of 1.10 or greater.
  • 30-year loan term.
  • 80% for purchase or rate & term refinance.
  • 75% for cash-out refinance.
  • Need reserves of 6 months of mortgage payments.
  • Show reserves for down payment and closing costs.

Short Term Bridge Financing Program

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Short Term Bridge Financing Program

  • Loan terms for 18 to 24 months.
  • Property does not need renovations.
  • Portfolio loan of multiple properties possible.
  • Minimum loan amount is $150,000.
  • Up to 75% Loan to Value.
  • Reserves of 6 months of mortgage payment, downpayment, and closing costs must be shown.
  • Property types allowed are single-family homes, warrantable condos, and 2-4 unit multifamily.
  • Great option for obtaining a short-term rental property!
  • Close in 4 weeks for a single property, 5-8 weeks for a portfolio loan.

Construction Project Program

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Construction Project Program

  • Great for getting single-family and 2-4 unit multifamily properties built.
  • Structure must be 800+ sq. feet, or 500 sq. feet per dwelling unit if 2-4 units.
  • Ready to build within 90 days of closing, plans and permit ready!
  • $150,000 minimum loan amount, $1.5 million max loan amount.
  • Up to 80% loan to cost and 70% LTV (dependent on experience).
  • Minimum reserves are greater than 20% of the loan amount or $100,000.
  • Reserves for downpayment, closing costs, and 6 months of interest payments need to be shown.
  • Loan terms from 12 or 18 months, with option to extend additional 6 months.
  • Final sales value must be less than 2.5x zip code median sales price.
  • Close in 3 weeks, more may be required depending on the complexity of construction.

Frequently Asked Questions

Step 1: Create an account in our portal and fill out some basic information about your property. Once a deal is submitted in our portal, our team will respond to you within 24 hours through the portal.

Step 2: If the submission is eligible for financing, you will receive an automated email informing you that an offer is ready for review. Just log into your portal account to review the terms and agree to move forward.

Step 3: After the loan offer is accepted, you will need complete all Tasks listed in the portal prior to the file moving into underwriting. This will include uploading documents required to underwrite the loan. The documents requested will vary based on the loan program and property type. Checking off all the tasks is the fastest way to get your loan into and through underwriting!

Step 4: We will order a valuation that is appropriate for your project, and handle title & insurance orders as well.

Step 5: Any additional info needed, we will reach out to you as needed. Underwriting of the originally submitted documents may require some additional documents or clarification.

Step 6: Close the loan and start your new investment journey!