BRRRR Loans: Financing for Buy, Rehab, Rent, Refinance

BRRRR terms: two loans, one plan

A BRRRR runs on two of our programs. Here are the standards for each, straight from our terms sheet.

Business-purpose, non-owner-occupied only; entity borrowers (LLC or corporation) required; full recourse. Rates shown are the lowest offered and depend on borrower FICO, experience, and the deal. Points and fees vary. *Stabilized Bridge offers a no-DSCR option for properties listed for sale and a 1.10x exit-DSCR option for rent-ready properties. Not available in every state. Nothing here is a commitment to lend or an offer of specific terms; all loans subject to underwriting and approval.

Who this loan is for

• Buy-and-hold investors who want to grow a rental portfolio without leaving all their cash in every property.
• Flippers adding rentals who'd rather keep a good property than sell it.
• Investors buying distressed property below market, where the rehab creates the equity the refinance pulls back out.
• Anyone tired of two lenders who don't talk to each other — one for the purchase, one for the refi, and a gap in between.

Both loans are business-purpose, non-owner-occupied, made to an LLC or corporation, and full recourse. You can't BRRRR the house you live in.

What you'll need

For the acquisition loan:

• The purchase price, the property address, and your purchase contract.
• A line-item rehab budget and the after-repair value, with comps.
• Your cash for the down payment, closing costs, and reserves.
• An LLC or corporation and a personal guarantee.

For the refinance:

• A signed lease (or market rent support) once the rehab is done.
• Taxes, insurance, and HOA figures so we can confirm the rent covers the payment.
• A credit score that meets the DSCR program minimum.

A worked example

Model your own deal with the BRRRR calculator.

Where BRRRR deals break

The math on a BRRRR looks great on a napkin. Where it falls apart is the gap between the two loans: the rehab runs over, the appraisal comes in light, or the rent doesn't cover the new payment. Then the refinance pulls out less than planned — or doesn't happen at all, and you're sitting on short-term money with the clock running.

The fix is boring: size the refinance before you buy. Use a conservative after-repair value, a real market rent, and a rehab budget with contingency. If the deal still works, great. If it only works with everything going right, we'll tell you that too. The full playbook is in our guide to BRRRR financing.