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Park Place Finance

Park Place Finance

Austin
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Park Place Finance

500 West 2nd, Suite 1900, Austin, Texas 78701
(866) 407-1599
marketing@parkplaceus.com
Website

Vetted Provider

This vendor has been evaluated and confirmed as active, reputable, and qualified to lend.

About

$1B+
Capital Deployed
2006
Year Founded
Park Place Finance is a nationwide direct private lender headquartered in Austin, Texas, specializing in fix-and-flip, bridge, ground-up construction, and DSCR rental loans for residential real estate investors. Founded in 2006, the company has funded over 4,000 loans totaling more than $1 billion and operates entirely from its own balance sheet. With a team of 50 lending professionals and an average close time of 3-5 business days, Park Place Finance is built for investors who need speed and certainty. Same-day approvals and streamlined documentation — credit report, bank statements, and loan application — remove friction from the borrowing experience. The minimum FICO is 640, and no experience is required for fix-and-flip or bridge programs. Park Place Finance lends on 1-4 unit residential investment properties only. The firm does not lend on owner-occupied homes, vacant land, or commercial properties. Lending is available in most states nationwide, excluding AK, ND, and SD for short-term loans; DSCR availability varies by state. Park Place Finance is a member of the American Association of Private Lenders.

Key Differentiators

Why investors choose this lender:

  • Same-day approvals with 3-5 day average close — among the fastest close times in the hard money industry; when deal timelines are tight, Park Place delivers certainty and speed backed by 20 years of operations
  • Own balance sheet, direct lender since 2006 — all lending funded from Park Place's own capital with no intermediaries; borrowers deal directly with the decision-maker, not a correspondent or table funder
  • 640 minimum FICO with streamlined documentation — no tax returns required for short-term loans; only credit report, bank statements, and loan application; lower documentation burden than most institutional hard money lenders
  • 2-day rehab draw turnaround — one of the fastest draw cycles in the market; critical for investors managing active renovation timelines where delayed draws stall contractor schedules
  • Sub-1.0 DSCR accepted on rental loans — minimum 0.70 DSCR accepted on 30-year rental loans; allows investors to finance properties with below-market rents or in rent-up phase that other lenders decline
  • Nationwide footprint with $1B+ deployed — 4,000+ loans funded across most US states; institutional scale with a direct-lender relationship model and a 50-person dedicated lending team

Where They Lend

Nationwide
48 States + DC (excl. AK, ND, SD for short-term)
Nationwide residential investment property lending on 1-4 unit properties. Short-term loans available in all states except AK, ND, SD. DSCR long-term rental loans exclude AZ, IN, MN, ND, NV, SD, UT, VT. No owner-occupied homes, vacant land, or commercial properties.

Loan Types, Structures and Terms

$100,000 to $2,500,000
Typical Loan Amounts
12 to 23 Months
Typical Terms
9.99% to 12.99%
Typical Interest Rates
1.5% to 3%
Typical Points
Fix-and-flip / rehab: 85% LTP, 90% LTC, 70% LTARV. Bridge (no value-add purchase): 75% LTP; bridge refi no cash-out: 75% LTV; cash-out refi: 65% LTV. Ground-up construction: 60% land LTP, 75% LTC, 65% LTCV. DSCR 30-year rental: 80% LTV. All: 1st lien, 1-4 unit residential investment only.
Fix-and-Flip
New Construction
Rental (DSCR)
Short-Term Bridge
Park Place Finance fix-and-flip loans fund $100K to $2.5M at 9.99% to 12.99% with up to 90% LTC, 70% LTARV, and 2-day draw turnaround. 640 min FICO, no prepayment penalty, same-day approvals with 3-5 day average close.
Fix & Flip FeatureStructure & Terms
Loan Amounts$100,000 to $2,500,000
Interest Rate9.99% to 12.99% | Interest only | Rate dependent on location, experience, and credit
Origination Fee1.5% to 3% (minimum $2,000)
Loan Term12 to 23 months | No prepayment penalty
Max LeverageUp to 85% LTP | Up to 90% LTC | Max 70% LTARV | Borrowers need 15-20% down
Rehab BudgetUp to 90% LTC on renovation costs
Draw Turnaround~2 business days
Min Credit Score640 FICO | No experience required
Auction PurchasesAccepted
Park Place Finance ground-up construction loans fund $100K to $2.5M at up to 75% LTC and 65% LTCV. Requires 1 prior project and permits in hand. Interest charged only on drawn funds.
Construction FeatureStructure & Terms
Loan Amounts$100,000 to $2,500,000
Max LTCUp to 75% LTC
Max Land LTPUp to 60% of land purchase price
Max LTCVMax 65% LTCV
Experience RequiredYes — 1 completed ground-up project within the past two years.
Permit RequirementPermits required in hand before construction draws are released.
Interest StructureInterest charged only on funds drawn
Partial ProjectsAccepted. Park Place will lend on partially completed construction projects.
Property TypesSFR only, 1-4 unit residential properties
Park Place Finance DSCR loans fund $100K to $2.5M at 7.25% to 10% with up to 80% LTV. Minimum 0.70 DSCR — sub-1.0 accepted. Available in most states, 30-year fixed, and portfolio lending up to 3 properties.
Rental DSCR FeatureStructure & Terms
Loan Amounts$100,000 to $2,500,000
Interest Rate7.25% to 10% | 30-year fixed
Origination Fee1% to 3%
Max LTVUp to 80% LTV for purchase and rate-term refinance
Minimum DSCR0.70 minimum DSCR — sub-1.0 DSCR accepted
Loan Term30-year fixed
Seasoning3 months minimum for refinance
Portfolio LoansAvailable — up to 3 properties per loan
Property TypesSFR, 2-4 units, condos, STR, vacation rentals
DSCR State ExclusionsNot available in AZ, IN, MN, ND, NV, SD, UT, VT
Park Place Finance bridge loans fund $100K to $2.5M at 9.99% to 12.99% for purchases and refinances. 640 min FICO, no prepayment penalty, same-day approvals, and closings in as few as 3 business days.
Bridge Loan FeatureStructure & Terms
Loan Amounts$100,000 to $2,500,000
Max LeveragePurchase (no value-add): 75% LTP | Refi (no cash-out): 75% LTV | Cash-out refi: 65% LTV
Interest Rate9.99% to 12.99% | Interest only | No prepayment penalty
Loan Term12 to 23 months
Speed to CloseTypical: 7 business days | Fastest: 3 business days | Same-day approvals
Min Credit Score640 FICO
Auction PurchasesAccepted. Proof of funds letter available.
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Borrower Qualifications (Are you qualified?)

Park Place Finance qualifies borrowers at a 640 minimum FICO with streamlined documentation — no tax returns required on short-term loans. New investors welcome for fix-and-flip and bridge programs. Ground-up construction requires 1 prior project within two years.
Qualification ParameterLender Requirements
Credit Score Requirement640 Minimum FICO. General guideline — exceptions considered case-by-case. Lower scores may affect leverage, pricing, and terms.
Experience LevelNo experience required for fix-and-flip or bridge loans. Ground-up construction requires at least 1 completed project in the past two years.
Documentation RequiredCredit report, bank statements, and loan application. Streamlined documentation — no tax returns required for short-term loans.
Entity Types AcceptedIndividual(s) and LLC
Personal GuarantyAlways required. Full recourse on all loan programs.

Underwriting Process (How long will it take to get approved?)

Park Place Finance delivers same-day approvals and averages 3-5 business days to close. 640 minimum FICO. Documentation limited to credit report, bank statements, and loan application — no tax returns for short-term loans. Appraisal always required; BPO sometimes accepted.
Stage / RequirementProcess & Timelines
Application & ApprovalSame-day approvals. Loan inquiry submitted at go.parkplacefinance.com. Dedicated loan officer assigned immediately.
DocumentationCredit report, bank statements, and loan application required. No tax returns for short-term bridge or fix-and-flip loans.
Property ValuationAppraisal always required for residential property. BPO sometimes accepted depending on property type and loan size.
Speed to CloseAverage 3-5 business days. Typical: 7 days. Fastest documented: 3 business days.
Credit Review640 minimum FICO. Exceptions considered case-by-case.

Draw Process (How long will it take to get draws?)

Park Place Finance processes rehab draws in approximately 2 business days. Renovation funds are held in escrow and disbursed after inspection. Construction programs charge interest only on funds drawn.
Operational StepMethodology & Timelines
Draw SystemReimbursement-based. Investor completes work, submits draw request; Park Place funds after inspection approval.
Interest ChargedInterest charged on the entire project cost amount for rehab loans. Construction: interest only on funds drawn.
Funding TurnaroundDraws typically funded within 2 business days of an approved draw request.
Construction DrawsPermits must be in hand before any construction funds are released. Draws made against approved budget and inspection milestones.
Draw RequestsSubmitted via the Park Place Finance online portal at parkplacefinance.com/draw-request.