Refinance Your BRRRRWhen Rehab Is Complete.New ARV Immediately. No Lease Required.
- Program 3 can use the new ARV immediately after completed renovation
- No executed lease required on Program 3
- Program 3 minimums: 660 FICO, $75,000 loan, $100,000 property value
- Up to 80% cash-out at 680+ FICO in select states; generally 75% outside those states
No credit pull for the initial quote · Rates within 24 hours · Typical 28-day close with complete documentation
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Completed-Renovation Option
Program 3: True No-Seasoning BRRRR Refinance
Program 3 is the specific capital-partner option that allows a completed renovation to use the new after-repair value immediately. It does not require an executed lease. These terms should not be mixed with the separate $50,000 small-balance program.
Program 3 Core Requirements
Minimum FICO: 660
Minimum loan: $75,000
Minimum property value: $100,000
Seasoning after completed renovation: none
Lease: not required
Program 3 Cash-Out Leverage
Up to 80% LTV: 680+ FICO in AL, CO, GA, ME, MI, MS, MO, NC, NH, PA, TN, TX, VA, and WA.
Outside those states: generally up to 75% LTV.
Actual leverage can still be reduced by DSCR, property type, value, loan size, and other program overlays.
Separate Small-Balance Option
A separate capital-partner program can handle Section 8 and smaller-balance loans. These minimums should not be read as the terms of the no-seasoning or 80% LTV program.
Other ARV Paths Are Different
Program 1 can also use a new/current ARV, but only after at least 91 days and generally up to 75% LTV. Purchase price plus documented renovation budget must support the requested loan amount, and Program 1 requires a lease. Before 91 days, leverage can still be based on the original purchase/value basis.
Illustrative Deal Example
How a No-Seasoning BRRRR Refi Works
Assume you purchased a duplex for $120,000, completed $45,000 of renovation, and the finished property appraises for $260,000. On Program 3, the completed renovation can support use of the new ARV immediately, without waiting 91 days. If the file qualifies at 75% LTV, the maximum new loan would be $195,000. The actual loan amount can still be limited by DSCR, FICO, property type, state, and other program requirements.
Deal Snapshot
Purchase Price
$120,000
Renovation
$45,000
New ARV
$260,000
Illustrative 75% Loan
$195,000
BRRRR Refinance FAQ
BRRRR Situations
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Renovation Complete? See Your Options.
No credit pull for the initial quote. Rates within 24 hours.
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