Published 2026-09-29 · 10 min read

Kiavi vs Lima One (2026): DSCR and Investor-Loan Lenders Compared

Disclosure: Kiavi is a signed affiliate partner of this site (we may earn a commission if you fund a loan through our link, at no cost to you). Lima One is not an affiliate — covered purely for honest comparison.

If you're financing investment property in 2026, two names come up in nearly every conversation: Kiavi and Lima One Capital. Both are private, investor-only lenders — no owner-occupied mortgages — and both cover the same core products: DSCR rental loans, fix-and-flip bridge financing, new construction, and portfolio lending. That overlap is exactly what makes the choice confusing.

The useful differences are about fit, not quality: Kiavi is a tech-driven originator operating at enormous scale; Lima One is a specialist lender with a relationship-led process and deep rental-underwriting roots. This guide compares them product by product using only terms verifiable on each lender's public pages. Where lenders don't publish specifics — rates, fees, coverage ratios — we say so: get a current term sheet before you decide.

New to DSCR lending? Start with our DSCR loans guide for landlords, then come back.

Quick verdict

The short version: Kiavi for speed and the most aggressive flip leverage; Lima One for specialist-led underwriting and rental-deal flexibility. For a standard single-property DSCR loan, both will close it — compare all-in cost on both term sheets.

Company backgrounds

Kiavi: the scale player

Kiavi started in 2013 as LendingHome, one of the first technology-driven bridge lenders for real estate investors, and rebranded to Kiavi in 2021. By its own account it has funded more than 100,000 investor loans and originated a record $7.8 billion in 2025. In 2026 the company was acquired by Figure, with its DSCR and rental loans now originated through Figure Lending LLC (NMLS #1717824) — deeper capital-markets backing behind the same investor products.

Kiavi's DNA is data-driven underwriting: proprietary models of local markets, renovation costs, and after-repair values, with a fully digital application process. High volume funds a platform designed to move standardized deals quickly.

Lima One Capital: the investor-lending specialist

Lima One Capital was founded in the early 2010s (company press materials say 2010) by two U.S. Marine veterans in Greenville, South Carolina, where it's still headquartered. Its public materials report more than $7 billion in loans funded for real estate investors nationwide.

Lima One built its name as a dedicated investor lender — rental, bridge, and construction products for non-owner-occupied properties — with in-house underwriting, construction management, and servicing teams. Its process is specialist-led: lending professionals structure the loan rather than routing everything through a self-serve platform. Lima One is NMLS #1324403 and does not lend in Alaska, North Dakota, South Dakota, or Vermont.

Loan products compared

DSCR rental loans

DSCR (debt service coverage ratio) loans qualify you on the property's rental income covering the loan payment — not on your W-2 or personal debt-to-income ratio. See our DSCR lender comparison for how these stack up against the broader market.

Kiavi: up to 80% LTV with 30-year fixed, 5/1 and 7/1 ARM, and interest-only options, on single-family, condos, PUDs, and 2–4 units (non-owner-occupied). No W-2s, employment verification, or traditional income verification on the core programs.

Lima One: 30-year fixed, 5/1 or 10/1 ARMs, 5-year interest-only followed by 25-year amortization, buy-up/buy-down options, flexible prepay options, and short-term-rental loans. Notably, Lima One waives seasoning on BRRR and fix-to-rent loans — a real differentiator for BRRR investors, whose refinances conventional lenders often delay six months.

The takeaway: Kiavi's DSCR menu is the more standardized package; Lima One's structuring options (buy-up/buy-down, the 5-year IO hybrid, seasoning waivers) reward a conversation with a specialist. Minimum coverage ratios — check current terms.

Fix-and-flip bridge loans

Kiavi: this is Kiavi's home turf. Published details: 12-, 18-, and 24-month terms, roughly $100,000 to $5 million (jumbo to $10 million in some scenarios), up to ~95% of loan-to-cost with up to 100% of rehab covered for qualified borrowers. Interest-only options, no prepay penalty, no application fee, no appraisal on many bridge loans; rehab funds release in draws against completed work.

Lima One: FixNFlip loans built to "move quickly, maximize your leverage, and pivot when necessary," plus Bridge Plus. Its Fix2Rent program pairs bridge financing for the renovation with the long-term takeout DSCR loan in one relationship — handy when a flip becomes a hold.

The takeaway: Kiavi is the more aggressive flip lender on published leverage; Lima One's Fix2Rent is the more elegant structure for fix-to-rent strategies. Choosing between bridge and long-term rental financing generally? Read hard money vs DSCR loans for landlords.

New construction

Both cover ground-up construction, which many DSCR-only lenders don't.

Kiavi: new construction and infill loans, roughly $150,000 to $10 million, 12–24 month terms with extensions, up to ~85% of total costs and 70% of ARV, permits not always required before closing.

Lima One: New Construction for Build For Rent or Build for Sell — vertical construction financing on infill, shovel-ready, fully entitled land, single builds or developments — plus Build2Rent, pairing the construction loan with the long-term DSCR takeout. Genuine parity here; Lima One's Build2Rent mirrors its Fix2Rent logic, while Kiavi publishes more specific leverage bands.

Portfolio and multifamily

Kiavi: dedicated rental portfolio loans for investors with five or more properties — up to 80% LTV, 10- and 30-year options, loans starting around $500,000, rate-and-term or cash-out, interest-only options, one monthly payment. Published materials have cited rates as low as 6.5% — check current terms, as portfolio pricing moves with the market.

Lima One: rental portfolio loans plus multifamily bridge loans; its rental page covers multifamily up to nine units alongside single-family and warrantable condominiums. Its published case studies include multi-property portfolio refinances (e.g., a Georgia investor refinancing 17 duplexes), signaling comfort with portfolio-scale deals.

The takeaway: Kiavi's 5+ property portfolio loan is the more explicit, productized offering; Lima One handles portfolio and multifamily deals through its specialist-led channel. Scaling up? Our guide on how to finance your second rental property covers the strategy side.

Rates, fees, and terms — what each lender actually publishes

Neither Kiavi nor Lima One publishes a single universal rate sheet, and any specific rate quoted in a review article goes stale fast. What's verifiable on their public pages — and where you must check current terms yourself:

• Application fees: Kiavi charges no application fee on its core investor programs. (Lima One's fee schedule — check current terms.)
• Prepayment penalties: none on Kiavi bridge and construction loans; Kiavi rental-loan prepayment terms vary by program. Lima One advertises "flexible prepay options" — check current terms for your program.
• Rate buydowns: Lima One publishes buy-up/buy-down options on rental loans. (Kiavi's rate/point menu — check current terms.)
• Minimums: third-party comparisons typically cite $75,000–$100,000 minimums for DSCR loans in this category — verify on each lender's current guidelines before assuming your deal qualifies.

The right way to compare: get a term sheet from each on the same deal, then compare all-in cost — rate, points, fees, prepay terms — not headline rate alone. Pricing moves with your credit profile, leverage, experience, and the property.

Check Kiavi's current rates and published program details before you apply — the term sheet is the only quote that matters:

Qualification requirements

Both qualify DSCR rental loans primarily on the property — that's the entire point of DSCR lending. The details differ:

• Coverage ratio: both require rental income to cover the payment by a margin (DSCR above 1.0). Neither publishes a universal minimum — check current terms for your scenario.
• Credit and experience: experienced investors get better leverage and pricing from either lender. Newer investors can qualify, but expect more conservative terms. Buying your first investment property? Read how to buy your first rental property in 2026 first.
• Property types: Kiavi covers single-family, condos, PUDs, and 2–4 units (non-owner-occupied). Lima One covers single-family, multifamily up to nine units, and warrantable condominiums — the 9-unit ceiling is an edge for small multifamily.
• Seasoning: Lima One requires three months for DSCR loans — waived for refinances from its own flip, construction, or bridge loans, and on BRRR and fix-to-rent loans. (Kiavi's seasoning policy — check current terms.)
• Documentation: property-level paperwork — leases or rent comps, insurance, entity documents for LLC purchases. Lima One's published underwriting reviews credit score and liquidity, obtains a current-value appraisal, and analyzes rental history and market rents.
• Citizenship: Lima One states foreign nationals may qualify for rental loans even without an established credit score. (Kiavi's policy — check current terms.)

Speed and the funding process

Kiavi optimizes for speed and scale: a digital-first platform and standardized products move straightforward deals fast — bridge loans can close in days, not weeks, when the file is clean. The tradeoff: unusual deals get squeezed into templates, and the answer is more likely "no" than "let's restructure."

Lima One optimizes for the relationship: a lending specialist gives your deal a human read, backed by in-house underwriting, construction management, and servicing teams — good for unusual properties, complex entities, or creative structuring. The tradeoff: a less automated process with more back-and-forth, and third-party reviews note closings can run longer than initial estimates.

For a clean single-family rental with strong rents, this tradeoff barely matters. It matters when your deal is non-standard, your timeline is tight, or structuring affects your returns. If you've already analyzed the rental deal, the faster question is which process you trust more.

Want the digital-speed option? Check Kiavi's current rates:

Pros and cons

Kiavi

Pros

• Enormous origination scale and a platform built for speed — straightforward deals close fast.
• Aggressive fix-and-flip leverage (up to ~95% of loan-to-cost, up to 100% of rehab for qualified borrowers).
• Broad product shelf: DSCR, bridge, new construction/infill, and dedicated 5+ property portfolio loans.
• No application fee and no prepayment penalty on bridge/construction loans.

Cons

• Standardization cuts both ways: deals that fit the template fly; deals that don't may get a flat no.
• Less hand-holding than a specialist-led lender — first-time DSCR borrowers should budget extra questions.
• No universal published rate sheet; you can't comparison-shop pricing without applying.

Lima One Capital

Pros

• Deep rental-lending specialization with in-house underwriting, construction management, and servicing.
• Relationship-led process — a specialist structures the deal, helping non-standard properties and complex entities.
• Fix2Rent and Build2Rent bridge short-term financing into long-term DSCR takeout in one relationship.
• Published seasoning waivers for BRRR and fix-to-rent refinances; multifamily coverage up to nine units.

Cons

• Less scale and automation than Kiavi — straightforward deals may move slower.
• Smaller digital footprint; self-serve borrowers may find the process old-fashioned.
• No published fee schedule or universal rate sheet — like Kiavi, you need a live term sheet to compare.

Who should choose which

The buy-and-hold landlord: either works. Lean Lima One for specialist guidance on quirky properties; lean Kiavi for the fastest digital process and a future portfolio loan. Also worth quoting: our Kiavi vs CoreVest comparison.

The active flipper: Kiavi, on published leverage and process speed. Still get a Lima One quote — competition keeps everyone's pricing honest.

The BRRR investor: Lima One's seasoning waivers and Fix2Rent's bridge-to-permanent structure are purpose-built for your strategy. Kiavi's bridge products work too — compare the refinance leg's all-in cost.

The scaling investor (5+ doors): Kiavi's dedicated portfolio loan is the more productized option — one loan, one payment. Lima One's portfolio channel is the relationship alternative.

The first-time DSCR borrower: Kiavi's platform moves you through efficiently; Lima One's specialists explain more along the way.

FAQ

Do Kiavi and Lima One require personal income documentation?

For core DSCR programs, no — qualification is driven by the property's cash flow, not your W-2. Lima One's published underwriting does review credit score and liquidity alongside the appraisal and rent analysis, and both price better terms for experienced borrowers.

Which lender is cheaper?

Neither publishes a universal rate sheet, so there's no honest answer — both price on credit, leverage, experience, property type, and market conditions. Get term sheets from both on the same deal and compare all-in cost: rate, points, fees, prepay terms.

Which is better for fix-and-flip?

Kiavi, on published leverage (up to ~95% of loan-to-cost) and a process built for flippers. Lima One's FixNFlip and Fix2Rent are credible alternatives, especially if the flip might become a rental — Fix2Rent's built-in takeout DSCR loan simplifies the pivot.

Which is better for a first-time landlord?

Kiavi for speed and a digital process; Lima One for specialist guidance. Either way, shop at least three lenders — both of these plus one more from our DSCR lender comparison — before committing.

Do they lend in my state?

Kiavi lends nationally to investors (confirm state coverage when you apply). Lima One does not lend in Alaska, North Dakota, South Dakota, or Vermont — everyone else, check current terms.

Bottom line

This is a fit comparison, not a good-versus-bad one. Kiavi brings unmatched scale, the most aggressive published flip leverage, a digital-first process, and the broadest product shelf, now backed by Figure. Lima One Capital brings deep rental-lending specialization, a relationship-driven process with in-house underwriting and servicing, and structuring flexibility (Fix2Rent, Build2Rent, seasoning waivers) that template-driven lenders can't match.

The practical move: get term sheets from both on your actual deal, compare all-in pricing — not headline rate — and pick the lender whose process you trust to close without surprises.

Ready to compare on your deal? Check Kiavi's current rates — then get a Lima One quote before you decide:

For the deeper dive on one side of this matchup, read our full Kiavi review for 2026.