No, you don’t. You just need to show that you live somewhere else via the address on your driver’s license, a lease, and a utility bill or bank statement with that address.

No, we have programs with NO SEASONING requirements that allow you to cash out as soon as renovations are completed.

No, you don’t need a lease agreement in place on a property you’re purchasing or refinancing. As long as the projected market rent covers PITIA, you’re good to go.

No, you only need a score of 660+ to get into a DSCR program, but your LTV will be capped.
- A FICO score of 660+ allows for a 30-year fixed loan, capped at 70% LTV.
- A FICO score of 680+ allows for 80% LTV.

If your score doesn’t meet the minimum requirements, you can get a co-borrower on the loan. They are required to:
1) Be on the application and have their credit pulled.
2) Sign a personal guarantee.
3) Own at least 20% of the LLC as noted in the operating agreement.

No, renovation loans cover 100% of the renovation budget as long as you’re under the required ARV LTV. We also have a program that covers 100% of the purchase price and renovations if you meet liquidity and net worth requirements.

First, you need to know the ARV (after renovation value). If your ARV is $400,000, multiply that by 65% if you have no experience, or by 75% if you do. For example, 65% of $400,000 is $260,000. That’s the maximum you can spend on both the purchase price and renovation budget to qualify for this loan.

Yes, we check your credit. We use the credit score to get you into a rate bucket, but these loans do not report to your personal credit when closed in an LLC.

Yes, you can still qualify. We don’t look at income, W2s, tax returns, or employment to qualify these loans. You just need to meet the credit score, liquidity, and DSCR requirements.

Yes, it’s highly recommended to close in an LLC. DSCR loans don’t report to your personal credit report or count against your DTI (Debt to Income ratio).

If the appraisal comes back lower, we control the loan process before turning in the appraisal. We can:
1) Order a rebuttal.
2) Discard it and order another appraisal.

For the lowest rate, get a renter in place and then do a refinance with Brick Capital!

You need a minimum of 20% down payment. Additionally, you must show 6 months of reserves in a bank account, retirement fund, investment, or crypto.

No, the reserves required are not escrowed.

Typically, it takes 3-4 weeks to close.

1) Fill out the application.
2) Once that’s back, we order the appraisal, title, and insurance binder.
3) It takes about 1.5-2 weeks to receive the appraisal report. During this time, we collect documents from you.
4) Once the appraisal is back, we submit the entire file to underwriting.
5) At this point, your credit will be pulled, and the rate will be locked.
6) We receive conditions, which takes about 5 days.
7) Final signing and closing take about 3 days.

We offer up to 80% LTV on purchases, which is 80% of the purchase price or appraisal price, whichever is lower. For cash-out refinances, we offer up to 80% LTV, but the best rates are at 75% LTV.

DSCR loans have a high close rate, meaning they are less likely to fall out during the closing process. The thing that causes loans to go sideways is usually when the appraisal didn’t come in at the expected value.

No, there are no exposure limits or limits to the number of outstanding DSCR loans you can have. As long as you have the down payment and the property meets the requirements, you can keep borrowing.

- ID
- Four entity documents
- Two most recent bank statements
- Contact information for title, insurance, and appraisal access.
For purchases:
- Purchase agreement + EMD.
For Refinances:
- HUD.
- Payoff demand and a list of documented improvements.