Rain City funds 100% of renovation costs and up to 90% of total project costs on residential fix-and-flip deals, capped at 70% LTARV. New borrowers are explicitly welcome. Draws funded in 4 days with interest charged only on drawn funds. Rates start at 10% based on experience.
| Fix & Flip Feature | Structure & Terms |
|---|
| Max LTP (Purchase Price) | 90% |
| Max LTC (Renovation Costs) | 90% (100% of renovation funded) |
| Max LTARV | 70% |
| Interest Rate | Starting at 10%, based on experience level |
| Loan Amount Range | $75,000 to $5,000,000 |
| Loan Term | 12 months standard |
| Draw Funding Time | 4 days typical | Draw inspection fee of $200 included in renovation budget |
| Interest on Renovation Funds | Only on funds drawn |
| Experience Required | None - new borrowers welcome |
| Min Credit Score | 650 FICO (lower scores considered with compensating factors) |
| Prepayment Penalty | None |
| Processing Fee | $1,595 all-in (covers underwriting, document, and lender closing costs) |
Rain City funds ground-up construction for SFR and multifamily up to 4 units in major metro areas (50,000+ population). Up to 75% LTC with 12-24 month terms. Minimum 1 prior new build completed and sold in the last 2 years. Partially completed projects accepted.
| Construction Feature | Structure & Terms |
|---|
| Max LTP (Land Acquisition) | 75% |
| Max LTC (Construction Costs) | 75% |
| Max LTCV | 60% |
| Loan Amount Range | $75,000 to $5,000,000 |
| Loan Term | 12 to 24 months |
| Property Types | SFR, multifamily up to 4 units. Major metro areas only (50K+ population). |
| Experience Required | 1 prior new build completed and sold within last 2 years |
| Min Credit Score | 680 FICO (compensating factors considered) |
| Partially Completed Projects | Accepted |
| Interest on Construction Funds | Only on funds drawn |
| First Draw Requirement | Approved plans, permits, and budget/scope required. Full spec appraisal paid upfront prior to funding. |
Rain City offers 30-year DSCR rental loans for 1-4 unit residential investment properties. Up to 80% LTV on purchases and rate-term refinances. Min 660 FICO, 1.00x DSCR. Portfolio loans up to 15 properties. Prepayment penalty applies in years 1-5 on declining scale.
| Rental DSCR Feature | Structure & Terms |
|---|
| Max LTV (Purchase / Rate-Term Refi) | 80% |
| Min DSCR | 1.00x |
| Interest Rate Range | 7% to 10% |
| Origination Fee | 2 points standard (buy-down available) |
| Loan Amount Range | $75,000 to $5,000,000 |
| Loan Term | 30 years |
| Min Credit Score | 660 FICO |
| Portfolio Loans | Yes - up to 15 properties on a single loan |
| Seasoning | 3 months required |
| Prepayment Penalty | Declining scale: 5% yr 1 / 4% yr 2 / 3% yr 3 / 2% yr 4 / 1% yr 5 (none after yr 5) |
| Min Property Value | $100,000 |
Rain City Bridge Loans provide flexible short-term financing for as-is purchases, refinances, and cash-out transactions. Up to 80% LTP on purchases and 65% LTV on refinances and cash-out. Cross-collateralizing assets to cover down payment permitted on a case-by-case basis.
| Bridge Loan Feature | Structure & Terms |
|---|
| Max LTP (Purchase, No Value-Add) | 80% residential | 70% multifamily |
| Max LTV (Refi, No Cash-Out) | 65% |
| Max LTV (Cash-Out Refi) | 65% |
| Interest Rate Range | 10% to 12% |
| Loan Amount Range | $75,000 to $5,000,000 |
| Payment Structure | Interest only |
| Auction Purchases | Accepted |
| Cross-Collateralization | Permitted on case-by-case basis to cover down payment |
| Min Credit Score | 650 FICO (compensating factors considered) |
| Prepayment Penalty | None on bridge loans |
