Question 1

What is AssetLift Lending?

Accepted Answer

AssetLift Lending is a direct private money lender specializing in short-term and long-term real estate investment loans. We provide fix & flip, ground-up construction, DSCR rental, and bridge financing for non-owner occupied investment properties across 46 states.

Question 2

What states do you lend in?

Accepted Answer

We lend in 46 U.S. states. We currently do not operate in Alaska, North Dakota, South Dakota, or Vermont. We are heavily focused on high-growth urban and suburban markets.

Question 3

Are you a direct lender or a broker?

Accepted Answer

AssetLift Lending is a direct private lender. This means we fund loans directly, giving us full control over underwriting, approvals, and timelines. No middlemen, no unnecessary delays.

Question 4

Do you work with mortgage brokers?

Accepted Answer

Yes, we work with qualified mortgage brokers and loan officers. If you are a broker, contact us about our wholesale lending programs and competitive broker compensation.

Question 5

What types of loans do you offer?

Accepted Answer

We offer four main loan programs: Fix & Flip loans (up to 92.5% LTC), Ground-Up Construction loans (up to 90% LTC), DSCR Rental loans (up to 80% LTV with 30-year terms), and Bridge loans (up to 80% LTV with quick closings).

Question 6

What is the minimum and maximum loan amount?

Accepted Answer

Our minimum loan amount is $100,000 and our standard maximum is $5,000,000 per asset. For larger portfolio deals exceeding $5MM, we can facilitate institutional-grade funding through our capital partners.

Question 7

What types of properties do you finance?

Accepted Answer

We finance non-owner occupied residential investment properties including single-family homes, 2-4 unit multifamily, condos, and townhomes. We do not finance owner-occupied properties, raw land (without a construction plan), or commercial properties.

Question 8

Do you fund 100% of rehab costs?

Accepted Answer

Yes, on our Fix & Flip program we can fund up to 100% of rehab costs, held in escrow and disbursed in draws as work is completed. You only pay interest on funds that have been drawn.

Question 9

What is a DSCR loan?

Accepted Answer

DSCR stands for Debt Service Coverage Ratio. It's a loan qualification method that uses the property's rental income instead of your personal income. If the property's rent covers the mortgage payment (typically 1.0x or higher), you can qualify regardless of personal W-2 income.

Question 10

What are your interest rates?

Accepted Answer

Rates vary by program, leverage, experience, and credit profile. Fix & flip rates start as low as 8.5%, and DSCR rental rates start as low as 5.75%. Contact us for a personalized rate quote based on your specific deal.

Question 11

What credit score do I need?

Accepted Answer

We require a minimum credit score of 660 for most programs. Borrowers with scores above 720 may qualify for better rates and higher leverage. We look at the overall borrower profile, not just the score.

Question 12

Do you require real estate investing experience?

Accepted Answer

Experience is preferred but not always required. Seasoned investors with a track record may qualify for higher leverage and better terms. First-time investors can qualify with slightly reduced leverage and additional reserves.

Question 13

Do you require personal guarantees?

Accepted Answer

Yes, we typically require a full personal guarantee from all members with 20%+ ownership in the borrowing entity. This is standard in the private lending industry and allows us to offer competitive rates.

Question 14

Can I borrow as an LLC or corporation?

Accepted Answer

Yes, in fact we require it. All loans are made to business entities (LLC, LP, Corp). If you don't have one, you'll need to form an entity before closing. We can guide you through the process.

Question 15

Do you require an appraisal?

Accepted Answer

For fix & flip and construction loans, we typically use a BPO (Broker Price Opinion) or desktop valuation for faster closings. For DSCR rental loans, a full appraisal is usually required. In some cases, we accept recent appraisals from other lenders.

Question 16

How much down payment do I need?

Accepted Answer

Down payment requirements vary by program: Fix & Flip requires as little as 7.5% of total project cost (at 92.5% LTC), Ground-Up Construction requires 10% (at 90% LTC), and DSCR Rental/Bridge requires 20% (at 80% LTV).

Question 17

How fast can you close a loan?

Accepted Answer

We can close in as fast as 7-10 business days for straightforward fix & flip and bridge deals. Ground-up construction and DSCR loans typically take 14-21 days due to additional due diligence requirements.

Question 18

What is your application process?

Accepted Answer

Step 1: Submit your deal details through our online form or call us. Step 2: We provide a soft-quote within 24 hours. Step 3: If you accept, we order valuations and begin underwriting. Step 4: Close and fund, typically within 7-10 business days.

Question 19

What documents do you need?

Accepted Answer

Basic requirements include: entity documents (LLC operating agreement, articles), government-issued ID, purchase contract or proof of ownership, scope of work and budget (for rehab/construction), proof of insurance, and bank statements showing reserves.

Question 20

Do you charge origination fees?

Accepted Answer

Yes, origination fees typically range from 1-3 points depending on the program, loan amount, and borrower profile. Fees are clearly disclosed upfront before you commit. There are no hidden fees or surprise charges.

Question 21

Is there a prepayment penalty?

Accepted Answer

Fix & flip and bridge loans have no prepayment penalty - you can pay off the loan anytime. DSCR rental loans may have a prepayment penalty (typically a stepdown structure like 3-2-1) depending on the rate option you select.

Question 22

How do construction draws work?

Accepted Answer

Rehab and construction funds are held in escrow and released in draws as work is completed. You request a draw, we send an inspector to verify the work, and funds are typically released within 2-3 business days. You only pay interest on funds that have been disbursed.

Question 23

What happens if my project takes longer than expected?

Accepted Answer

We understand that construction timelines can shift. We offer extension options on our short-term loans (typically 3-6 months) for a fee. It's important to communicate early if you anticipate delays so we can work with you on a solution.

Question 24

Can I refinance from a fix & flip loan to a DSCR loan?

Accepted Answer

Absolutely - this is a very common strategy known as BRRRR (Buy, Rehab, Rent, Refinance, Repeat). Once your rehab is complete and the property is rented, we can seamlessly refinance you into a 30-year DSCR loan.

Frequently Asked Questions

Browse By Topic

General

Loan Programs

Qualification & Requirements

Process & Timeline

During the Loan

Still Have Questions?