Published 2026-09-27 · 11 min read

Kiavi Review 2026: DSCR and Fix-and-Flip Loans for Landlords, Honestly Assessed

Kiavi is one of the biggest names in private lending to real estate investors, and it has been for over a decade. It started in 2013 as LendingHome, rebranded to Kiavi in 2021, and by its own account has funded more than 100,000 loans to real estate investors, originating a record $7.8 billion in 2025 alone. In 2026 the company entered a new chapter: it was acquired by Figure, with DSCR and rental loans now originated through Figure Lending LLC — a move that brought more distribution and capital behind the brand while keeping Kiavi's investor-focused platform intact.

But big doesn't automatically mean right for you. Kiavi is a private, non-bank lender built specifically for residential real estate investors — landlords, flippers, and builders — not for someone buying a home to live in. If you're buying a rental, flipping a distressed property, or building out infill housing, Kiavi's products are worth understanding. If you want a conventional 30-year mortgage on your own home, look elsewhere; that's simply not their business.

Here's the full, honest breakdown: what Kiavi offers landlords, how the loan products work, what they'll cost you, the real pros and cons, and who should apply — plus who should keep shopping.

The short version

Kiavi is a tech-driven private lender offering three core product families to real estate investors: fix-and-flip bridge loans (short-term, up to around 95% of loan-to-cost and 100% of rehab for qualified borrowers), DSCR rental loans (long-term rental financing qualified on the property's cash flow, not your personal income), and new construction/infill loans, plus rental portfolio loans for investors with five or more properties.

The headline appeal: no W-2s, no employment verification, no income verification for the core investor programs. Qualification is driven by the deal — the property, the numbers, and your experience. Closings are fast for the industry (bridge loans can close in days, not weeks), and the process is fully digital. The tradeoff: private-lending rates and points run higher than conventional mortgages, the published terms vary by scenario, and minimums (roughly $100,000 loan amounts) keep it out of reach for very small deals.

Bottom line up front: If you're an investor who needs speed, leverage, or financing that conventional lenders can't touch — a self-employed landlord scaling past Fannie Mae's 10-property cap, for example — Kiavi is one of the most credible names in the space. Just know exactly what you're paying for the convenience before you apply.

What Kiavi actually is

Kiavi is a private mortgage lender that serves only residential real estate investors. It doesn't do owner-occupied mortgages, primary residences, or conventional agency loans. Everything it originates is for investment properties: rentals, flips, and new construction.

Founded in 2013 as LendingHome, it rebranded to Kiavi in 2021 and grew into one of the nation's largest private lenders to residential investors. As of 2026, Kiavi Funding LLC (NMLS #1125207) is a subsidiary of Figure Technology Solutions, and its DSCR and rental loans are originated and funded by Figure Lending LLC (NMLS #1717824) — the combined company expected Kiavi to add more than $7 billion in annual first-lien volume to Figure's marketplace. For borrowers, the practical upshot is deeper capital behind the loans and Figure's technology stack under the platform.

Unlike a hard money lender operating out of a local office, Kiavi is a data-driven, online-first operation. Underwriting leans heavily on proprietary models of local markets, renovation costs, and after-repair values. That means fewer humans asking for pay stubs and more algorithms evaluating whether the deal pencils.

Kiavi's loan products for landlords

1. Fix-and-flip bridge loans

These are Kiavi's original bread and butter: short-term loans (12, 18, or 24 months) for investors buying, renovating, and reselling non-owner-occupied residential properties. Typical characteristics based on published program details:

• Loan amounts: roughly $100,000 to $5 million (jumbo up to $10 million in some scenarios)
• Leverage: up to around 95% of loan-to-cost, covering up to 100% of rehab costs for highly qualified borrowers — in plain terms, you can get into a deal with very little of your own cash
• Terms: interest-only options during the project; no prepayment penalty; no appraisal required for many bridge loans
• Documentation: no income or employment verification; no application fee
• Speed: the digital process can close qualified bridge loans in a matter of days

Rehab money is released in draws: as renovation phases complete, inspections confirm progress, and the next tranche of funds is released. This is standard for flip financing and keeps everyone honest about the budget.

2. DSCR rental loans

DSCR stands for debt service coverage ratio — the property's rental income divided by the loan payment. These loans qualify you based on whether the property can carry its own debt, not whether your W-2 says you can. Typical program details:

• Property types: single-family, condos, PUDs, and 2–4 unit properties (non-owner-occupied only)
• Leverage: up to 80% LTV
• Term options: 30-year fixed, 5/1 and 7/1 ARMs, and interest-only options
• Qualification: primarily property cash flow — Kiavi has used figures like 110% of market rent in its DSCR math; no W-2s or traditional income verification
• Prepayment: multiple options depending on the program, with some programs carrying no penalty after year three

This is the product most relevant to buy-and-hold landlords, especially self-employed investors or anyone scaling past the point where conventional lenders get difficult. If you haven't read our explainer on how these loans work generally, start with our DSCR loans guide — it covers the qualification math Kiavi and its competitors all use.

3. New construction and infill loans

For builders doing build-to-sell or build-to-rent residential infill: loans roughly $150,000 to $10 million, 12–24 month terms with extension options, up to about 85% of total costs and 70% of ARV, up to 100% of approved construction costs within those limits, and permits not always required before closing. No appraisal required for closing in eligible scenarios. This is a smaller slice of Kiavi's business but a real option if you're building.

4. Rental portfolio loans

For investors who already hold five or more rental properties, Kiavi offers portfolio loans that roll multiple properties into one loan: up to 80% LTV, 10- and 30-year options, loans starting around $500,000, rate-and-term or cash-out, interest-only options available, and a single monthly payment. Published materials have cited rates as low as 6.5% for these. If you're refinancing a scattered set of mortgages into one payment — or pulling equity across the portfolio to buy more — this product exists for exactly that.

Pricing and fees in 2026

Here's where honest review writing requires a caveat: Kiavi, like most private lenders, does not publish a single rate sheet for every scenario. Rates, points, and fees depend on your credit score, the loan type, leverage, experience, and the deal itself. Published materials have cited figures like rates from the high-6% range for bridge products and from 7.00% for rental loans in third-party reviews, with portfolio loans cited as low as 6.5% — but check their site for current pricing, because these move with the market and with your specific profile.

What you can count on:

• No application fee on the investor programs.
• No prepayment penalty on bridge and construction loans (rental-loan prepayment terms vary by program — ask specifically).
• Origination points and lender fees exist; they're how private lenders get paid, and they'll be part of your quoted terms.
• Third-party costs still apply where relevant: title, insurance, and in some programs an appraisal or inspection.

The honest way to evaluate Kiavi's pricing is to get a real quote on a real deal and compare it — on total cost, not just rate — against a local hard money lender and, for rentals, against a conventional investment-property mortgage if you qualify for one. Rate is only one input; points, speed, leverage, and whether you even qualify elsewhere matter just as much.

How the Kiavi process works

1. Pre-qualification: an online form with a soft credit pull — it doesn't hurt your score to check.

2. Term sheet: Kiavi quotes rates and terms based on the property, your experience, credit, and leverage.

3. Underwriting: mostly data-driven. Expect property evaluation (often without a traditional appraisal on bridge products), background and entity checks if you're borrowing in an LLC.

4. Closing: fully digital, with timelines that beat conventional lenders by a wide margin — days to a couple of weeks for bridge, a few weeks for rental loans.

Borrowing in an LLC is standard practice with Kiavi, which matters for asset protection. If you haven't decided how to hold your rentals, read LLC vs. personal ownership before you structure anything.

Pros and cons

Pros

• No income or employment verification on core programs — ideal for self-employed landlords and investors whose tax returns don't reflect their real capacity
• Very fast closings, especially on bridge loans — days, not months
• High leverage on fix-and-flip (up to ~95% LTC / 100% of rehab) for qualified borrowers
• DSCR qualification on cash flow, not DTI — no 10-property Fannie cap issues
• Fully digital process with soft-pull pre-qualification
• No application fees and no prepayment penalties on bridge/construction products
• Established, well-capitalized operator with deep institutional funding (rated securitizations, now backed by Figure)

Cons

• Higher cost than conventional financing — private-lending rates and points are the price of speed and flexibility
• Not for owner-occupants — investment properties only
• Terms aren't fully published — you have to get a quote to know your real numbers
• Minimums exclude tiny deals — roughly $100,000 minimum loan amounts
• Rate risk on short-term products — bridge loans are meant to be exited; if your flip stalls or your refi falls through, extensions and carry costs add up
• DSCR ratios still have to pencil — "no income verification" isn't "no underwriting"; a property with weak rents won't qualify

Who Kiavi is best for

• Self-employed or high-income-on-paper landlords who can't document income the conventional way
• Flippers who need speed and leverage to win competitive distressed deals
• Investors scaling past ~10 financed properties, where Fannie Mae's cap closes the conventional door
• LLC borrowers who want entity-friendly, investor-specific underwriting
• Portfolio holders (5+ properties) looking to consolidate into one loan or cash-out refi

Who should skip Kiavi

• First-time landlords with W-2 income and great credit — a conventional investment-property mortgage will usually be cheaper. Do the comparison first.
• Small deals under ~$100,000 loan amounts — you won't clear their minimums.
• Anyone who can't handle private-lending costs — if the deal only works at conventional rates, the deal doesn't work with Kiavi. Run the numbers with our deal analyzer walkthrough first.
• Buyers of their own home — Kiavi doesn't do owner-occupied loans, full stop.

How Kiavi compares to alternatives

The honest competitive set for a landlord:

• Conventional investment mortgages (banks, credit unions): cheaper rates and points, slower, full income documentation, DTI-based, Fannie 10-property cap. If you qualify and you're not in a hurry, this is usually the lowest-cost money.
• Local hard money lenders: comparable speed and sometimes more flexible on oddball deals, but typically higher rates, shorter terms, and more relationship-dependent. Kiavi's advantage is scale, consistency, and a digital process.
• Other national DSCR lenders (Visio, Lima One, RCN Capital, etc.): similar products; differentiate on rate, leverage, prepayment terms, minimum credit, and which property types they'll touch (condos, STRs, rural). Get two or three quotes on the same deal — that's the only honest comparison.

Kiavi's real edge is being a one-stop shop: flip it with bridge financing, then refi into a DSCR rental loan, then eventually roll the portfolio into one loan — all with the same lender and the same platform. That continuity has genuine value if you're running a growing operation.

FAQ

Is Kiavi a legit lender?

Yes. Founded in 2013 (as LendingHome), rebranded in 2021, over 100,000 investor loans funded, licensed mortgage originator (NMLS #1125207), and as of 2026 backed by Figure Technology Solutions. It's one of the largest private lenders to residential real estate investors in the country.

Does Kiavi check your income?

No — for the core investor programs, there's no income or employment verification. DSCR loans qualify on the property's rental income; bridge loans qualify on the deal and your experience.

What's the minimum credit score?

Kiavi doesn't publish a single minimum; it varies by program and scenario, and pre-qualification uses a soft pull. Expect better terms with stronger credit, as with any lender.

Can I borrow in an LLC?

Yes — Kiavi is built for entity borrowers, and most of its customers borrow through LLCs.

How fast can Kiavi close?

Bridge loans can close in days; rental loans typically take a few weeks. Either way, materially faster than a conventional mortgage.

Does Kiavi lend in my state?

Coverage is broad but not universal and differs between bridge and rental products, with some states restricted by license. Check their site for current availability in your state.

Is there a prepayment penalty?

None on bridge and construction loans. Rental-loan prepayment terms vary by program — confirm the exact terms on your quote.

The bottom line

Kiavi is exactly what it claims to be: a fast, tech-driven private lender for serious real estate investors. If your situation fits its products — flips that need leverage and speed, rentals that qualify on cash flow rather than your tax return, portfolios that need consolidating — it's one of the strongest options in the country, with the scale and capital backing to actually fund what it promises. If you're a conventional borrower who qualifies for conventional money, take the cheaper loan.

The deals you finance matter more than the lender you pick, so pair any financing decision with solid underwriting of your own: analyze every deal with our rental property deal guide, plan your exit strategy with the BRRRR method guide if you're recycling capital, and keep your operating budget benchmarks handy so the property's cash flow survives the loan payment.