Use the property’s current condition and intended exit to choose the starting lane: DSCR for stabilized rentals, fix-and-flip for acquisition plus rehab, and ground-up construction for eligible new vertical builds. A project may move between lanes as it reaches milestones.
Stabilized rental
DSCR is generally designed for rent-ready or leased property that supports long-term debt. Material rehab may require a short-term product first.
Existing property with renovation
Fix-and-flip or bridge financing can fund acquisition and approved improvements. The exit may be sale or refinance, subject to takeout requirements.
New vertical build
Ground-up programs focus on land and permit readiness, builder experience, budget, contingency, draws, and the completed-value or rental exit.
What to do next
Use the numbers and documents from this guide to prepare a complete scenario. Final eligibility and terms depend on the lender’s current program, underwriting, property, borrower, business, and state.