Frequently asked questions | Kiavi (2024)

FAQs

What credit score do you need for Kiavi? ›

Minimum Credit Score Required: DSCR lenders like Kiavi often require a 660 FICO® Score for pre-qualification. Minimum Down Payment or Equity: Maximum loan-to-value (LTV) on rental loans varies from lender to lender but can range from 70%-80%, depending on property type, credit and DSCR.

We do not require appraisals on bridge loans, but we do require them for rental loans.

Look no further than Kiavi, a well-established private lender with over a decade of experience providing financing solutions tailored to the needs of REIs. As one of the premier private money lenders in Florida, we're committed to delivering customer-oriented services, competitive rates, and flexible terms.

The main sources of short-term financing are (1) trade credit, (2) commercial bank loans, (3) commercial paper, a specific type of promissory note, and (4) secured loans.

Conventional loan | Credit score: 620

To qualify for a conventional loan, you'll need a credit score of at least 620, though some lenders may choose to approve conventional mortgage applications only for borrowers with credit scores of 680 and up.

Generally, you'll need a credit score of at least 650 to qualify for Kia Finance America. However, exceptions may apply. Kia also considers other factors like your income and credit history. As is the case with other loans, the more creditworthy Kia finds you, the lower your APR will be.

The system will do a soft credit pull as part of the prequalification – unlike hard inquiries, soft inquiries will not affect your credit scores. When qualifying real estate investors for long-term financing on rental properties, Kiavi will look at FICO and leverage as qualifiers to originate the loan.

A no-appraisal mortgage is a home loan that doesn't require an appraisal. The majority of lenders provide no-appraisal mortgages for refinancing purposes while others may offer them for first-time loans. The threshold for no-appraisal mortgage loans is $400,000.

When you apply for a HELOC, lenders typically require an appraisal to get an accurate property valuation. That's because your home's value—along with your mortgage balance and creditworthiness—determines whether you qualify for a HELOC, and if so, the amount you can borrow against your home.

With more than $16B in funded loans, Kiavi is one of the nation's largest private lenders to residential real estate investors (REIs).

Who is the best private lender? ›

Kiavi is a privately held company and is not publicly traded on NYSE or NASDAQ in the U.S. To buy pre-IPO shares of a private company, you need to be an accredited investor.

Many business owners list it as equity. This means the funds are a contribution and that the business does not have to write up a business loan agreement or repay the loan. The transaction is simply an investment made in the business in return for increased equity.

A spontaneous source of short-term credit is the type of financing arising from the business's regular daily operations such as the trade credit and payables from the operations. As the sales of a business increase, it leads to a rise in account payables due to the rise in purchases needed.

Finally, pure discount loans are perhaps the simplest form of loans. In these, the borrower takes out an upfront loan and pays nothing until the end of the loan period, at which point they pay back the full principal of the loan plus a predefined amount of interest.

You can borrow anywhere from a few thousand dollars to $100,000+ with a 580 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

To qualify for a personal loan, borrowers generally need a minimum credit score of 610 to 640. However, your chances of getting a loan with a low interest rate are much higher if you have a “good” or “excellent” credit score of 670 and above.

While lenders vary in their requirements, you're more likely to get the best loan terms if your score is in the "good" category or higher, meaning at least 670. 1 But even if you have only a "fair" score, which starts at 580, you may be able to obtain a personal loan from some lenders.