Plan the financing before committing to a deal.
Start with the payment your property can support, then compare written terms across lenders. Keep your renovation budget and cash reserves in the same picture.
Which financing question are you solving?
Long-term rental loan
Ask how rent, property costs, your credit and reserves affect eligibility. Model principal and interest alongside property expenses.
Run a DSCR estimate →Purchase plus rehab
Get clarity on acquisition funds, renovation draws, inspection requirements and the exit loan or sale timeline.
Estimate the work →Refinance or portfolio
Compare proceeds, cash required, payment changes and the cost of replacing existing loans.
Review BRRRR math →A $73,000 purchase, a $155,000 appraisal and a change of banks.
Read how I recovered approximately $30,000 in renovation cash, retained roughly $50,000 in equity and what I would change about the original loan next time.
Read the renovation and refinance case study →Can you buy a rental property with no money?
Explore seller financing, funding partners and other options, including the costs that still need to be covered.
Read the no-money-down guide →Local banks, hard money or a large bank?
Read why I prefer speaking directly with local lending decision-makers, and when other financing options may fit the project.
Compare the three financing options →A simple loan comparison checklist
Ask each lender for written terms for the same property, borrower and scenario. Terms for investor and business-purpose loans can use different documents, so request an itemized written breakdown.
Cash at closing
Down payment, lender and third-party fees, points, reserves and any rehab funds you must provide.
Cost over time
Rate, APR if supplied, payment, amortization, interest-only periods and prepayment charges.
Timing and flexibility
Rate lock, closing timeline, balloon date, refinance conditions and draw schedule if applicable.
Property underwriting
Rental income method, vacancy assumptions, taxes, insurance, repair reserves and minimum coverage requirement.
For consumer mortgages, the CFPB's guide to comparing Loan Estimates explains how to compare fees and borrowing costs. Ask your lender which disclosures apply to your transaction.
Exploring funding for a purchase or renovation?
New Silver offers financing options for real estate investors. Review the property and project requirements, then compare its written terms with other lenders using the checklist above.
Affiliate link: Rental Owner Studio may earn a commission if you use this link. Compare rates, fees, eligibility and repayment terms before applying.
Price the rehab before selecting a loan.
A financing quote only works if the renovation and holding costs fit your plan.