While experience can be beneficial, it is not a strict requirement. Our primary focus is on the investment’s potential and the soundness of your financial plan.

Yes, renovation costs can be included as part of the financing package, which allows you to improve the property before renting it out to increase its value and appeal.

We prioritize quick and efficient closings to facilitate your investment progress. The timeline can vary, but we work diligently to complete the process in the shortest time possible.

Yes, for both refinances and new purchases we can provide financing for short term rentals.

Yes, either a full or desktop appraisal will be completed by an Appraisal Management Company. Interior access is required and a market rent addendum will be included. The appraisal requires the itemized budget and that the budget must be approved by us prior to closing.

Typically there is a 5-4-3-2-1 step down prepayment penalty. In this scenario, the borrower is responsible for paying a penalty of 5% of the outstanding balance if prepaying in the first year, 4% in the second year, 3% in the third year, 2% in the fourth year and 1% in the fifth year. The borrower will have the option to decrease the prepayment penalty with an increase in the interest rate.

Stepup Capital offers loans without a minimum DSCR, however, the most favorable terms are available for loans with a DSCR of at least 1.0. Debt service coverage is calculated as the lesser of market rent and rent in place divided by property taxes, insurance, debt service, and HOA/COA (if applicable).

You need to be a US citizen or legal resident.

Yes. You can apply for a Rent loan and indicate the market rent, and even if DSCR is below 1, you may qualify for a loan for your short term rental property.