Published · 5 min read

Kiavi vs Lima One Capital (2026): Which DSCR Lender Fits Your Rental Strategy?

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Two names dominate investor lending conversations: Kiavi and Lima One Capital. Both are purpose-built lenders for real-estate investors, both offer DSCR rental loans qualified on property cash flow instead of your W-2, and both serve fix-and-flip borrowers too. But they arrived here by different paths, and the right choice depends on your strategy, your portfolio size, and how much hand-holding you want.

If you're new to DSCR loans, start with our DSCR loans guide for landlords. If you're choosing between loan types rather than lenders, see hard money vs DSCR loans for landlords.

Quick verdict

• Choose Kiavi if you're an active, tech-forward investor who values a streamlined digital process, high-leverage bridge options for flips, and a lender with enormous origination scale behind it.
• Choose Lima One Capital if you're a buy-and-hold landlord who wants an established DSCR specialist with deep experience underwriting rental properties, including smaller rental portfolios.
• The honest truth: for a straightforward single-property DSCR refinance or purchase, both will get the job done. The differences matter most at the edges — flips with high leverage, large portfolios, and how much of the process you want handled online versus through a lending specialist.

Meet the two lenders

Kiavi: the scale player

Kiavi started in 2013 as LendingHome, one of the earliest tech-driven bridge lenders, and rebranded to Kiavi in 2021. It has since become one of the largest private lenders to real-estate investors: more than 100,000 loans funded and a record $7.8 billion originated in 2025. In 2026, Kiavi was acquired by Figure, and its loans are now originated through Figure Lending LLC — deeper capital-markets backing, with the brand and investor products continuing under the Kiavi name.

Kiavi's lineup spans the full investor lifecycle:

• Fix-and-flip bridge loans — short-term financing for purchase and renovation, with leverage up to around 95% of loan-to-cost and, for qualified borrowers, up to about 100% of rehab costs.
• DSCR rental loans — long-term rental financing qualified on the property's cash flow rather than your personal income.
• New construction and infill loans — financing for ground-up builds and teardown/infill projects, a less common offering among investor lenders.
• Rental portfolio loans — single loans covering 5 or more rental properties, aimed at scaling investors who want to simplify their debt structure.

The through-line is scale and speed: Kiavi built its business on a technology-first platform, and its volume reflects a process designed to move fast on standardized deals.

Lima One Capital: the DSCR specialist

Lima One Capital is a long-standing private lender focused on real-estate investors, known for its DSCR rental products and hard-money-style financing for fix-and-flip borrowers. Where Kiavi arrived at DSCR lending from the fix-and-flip bridge world, Lima One built its reputation as a rental-loan and investor lender first, with deep familiarity underwriting income-producing residential property.

Its mix centers on DSCR rental loans (including options for smaller portfolios), fix-and-flip bridge products, and portfolio-oriented options for investors holding multiple rentals. Lima One has historically been known for a relationship-driven process: borrowers work with lending specialists who structure the loan rather than running everything through a fully self-serve platform.

Product-by-product comparison

DSCR rental loans

Both offer long-term DSCR rental loans qualified on the property's cash flow — your debt-to-income ratio and employment documentation matter far less than the rent roll.

Kiavi's edge is scale: high volume means standardized underwriting, a digital-first application, and competitive positioning on leverage for qualified borrowers. Its rental portfolio loans for 5+ properties are a genuine differentiator for scaling investors who'd rather manage one loan than five.

Lima One's edge is specialization. As a lender known specifically for rental-property underwriting, it's comfortable with the nuances of rental deals — mixed portfolios, seasoning questions, properties with imperfect histories. Borrowers who don't fit a standardized box often do better with a specialist who underwrites the actual deal.

On terms themselves — rates, fees, minimum coverage ratios — both price to the market, and terms move with rate conditions. This guide deliberately doesn't quote rates because they'd be stale quickly; get a current term sheet from each lender and compare the all-in cost (rate, points, fees) on your actual deal.

Fix-and-flip bridge loans

Kiavi is the stronger name here. Its roots are in fix-and-flip bridge lending, and its leverage — up to around 95% of loan-to-cost, with rehab funding up to about 100% for qualified borrowers — is among the most aggressive in the space. Experienced flippers who need maximum leverage and a fast, standardized process are Kiavi's core customer.

Lima One offers flip financing too, but flip lending isn't the center of its identity. Flippers comparing the two should focus on leverage (loan-to-cost and rehab coverage), the draw and inspection process for rehab funds, and extension terms if a project runs long. Get both term sheets — draw schedules and extension fees are where flip loans are won and lost.

New construction and portfolio loans

Kiavi's new-construction and infill products are a real differentiator — many DSCR lenders don't touch ground-up construction. If your strategy includes building, Kiavi deserves a look on that basis alone. On the portfolio side, both serve multi-property investors, but Kiavi's dedicated 5+ property portfolio loan is the more explicit offering.

Qualification differences

Both qualify DSCR rental loans primarily on the property — that's the point of DSCR lending. But "the property qualifies" hides real differences in evaluation:

• Coverage ratio: both require rental income to cover the loan payment by a margin (a ratio above 1.0). The exact minimum varies by program and market — ask each lender for their current floor for your property type.
• Credit and experience: experienced investors with clean payment histories get better leverage and pricing from either lender. Newer investors can still qualify, but expect more conservative terms until you've built a track record. First-timer? See our guide on how to buy your first rental property in 2026.
• Property quirks: both focus on residential investment property (single-family, 2–4 units, often larger multifamily). Lima One's rental-specialist background can be an advantage for non-standard deals — unusual unit mixes, rural markets, or seasoning issues.
• Documentation: expect property-level documentation (leases or rent comps, insurance, entity documents for LLC purchases) rather than the full personal-income workup of a conventional mortgage. Kiavi's digital platform tends to make collection faster; Lima One's specialist-led process can be more flexible when your paperwork doesn't fit a template.

Speed vs. leverage: the core tradeoff

Kiavi optimizes for speed and scale. A technology-first platform, standardized underwriting, and enormous volume mean straightforward deals move quickly. The cost: unusual deals get squeezed into boxes that don't quite fit — and when they don't fit, the answer is more likely "no" than "let's restructure this."

Lima One optimizes for the relationship. A lending specialist gives your deal a human read, which helps when the property is unusual, your entity structure is complex, or you need creative structuring. The cost: a less automated process, more back-and-forth, and timelines that depend on your specialist's pipeline.

For a clean single-family rental with strong rents in a major market, this tradeoff barely matters. It matters when your deal is non-standard, your timeline is tight, or you're borrowing at a scale where structuring affects your returns.

Honest cons: Kiavi

• Standardization cuts both ways. Deals that fit the template move smoothly; deals that don't may find less flexibility than a relationship lender offers.
• Tech-first means less hand-holding. Investors who want a dedicated specialist walking them through every step may find the digital process impersonal, especially on a first DSCR loan.
• Post-acquisition uncertainty. The 2026 acquisition by Figure and the shift to origination through Figure Lending LLC is a real change. Backing and scale are positives, but confirm the products, contacts, and processes you rely on remain stable.
• Leverage isn't free. High-leverage bridge products price for the risk they take. Always compare all-in costs against another lender — leverage only helps if pricing doesn't eat the advantage.

Honest cons: Lima One Capital

• Less scale, less automation. Lima One doesn't originate at Kiavi's volume, so the process is less industrialized — for straightforward deals where you just want speed, that can feel slow.
• Smaller digital footprint. Borrowers who prefer self-serve online applications and dashboard tracking may find the specialist-led process old-fashioned.
• Flip leverage. If fix-and-flip is your primary business and you need maximum leverage on acquisition and rehab, Kiavi's bridge products are the more aggressive option.
• Narrower product shelf. Kiavi's new-construction lending and explicit 5+ property portfolio loans give it broader coverage. If your strategy spans construction or large portfolios, verify Lima One's current offerings cover your plans.

Which fits your strategy?

The buy-and-hold landlord building cash-flowing rentals: either works. Lean Lima One if you value a specialist relationship and your properties have quirks; lean Kiavi if you want a fast digital process and may eventually want a portfolio loan.

The active flipper doing multiple projects a year: Kiavi, on leverage and process. Still get a Lima One quote — competition keeps everyone honest.

The scaling investor (5+ doors, growing fast): Kiavi's portfolio loan product is purpose-built for you, and its scale means it's set up for repeat borrowers. Lima One is a fine alternative if you prefer relationship-based service as you grow.

The first-time DSCR borrower: Kiavi's platform moves you through efficiently; Lima One's specialists explain more along the way. If this is your first investor loan, the extra guidance has real value. Either way, shop the full market with our DSCR lender comparison, not just these two names.

Bottom line

This isn't a good-versus-bad comparison — it's a fit comparison. Kiavi brings unmatched scale, aggressive flip leverage, a digital-first process, and the broadest product shelf (including new construction and dedicated portfolio loans), now backed by Figure's capital-markets muscle. Lima One brings deep rental-lending specialization, a relationship-driven process, and flexibility for deals that don't fit a template.

The practical move: get term sheets from both, compare all-in pricing on your actual deal, and pick the one whose process you trust more. The best DSCR lender isn't the one with the best marketing — it's the one that closes your loan at competitive terms without surprises at the closing table.

Want the deeper dive? Read our full Kiavi review for 2026, then get current term sheets from both lenders before you decide.