Has anyone worked with Kiava? Looking for lenders!

[Kyle Christy]

Kiavi is apparently the new company LendingHome has rebranded to.  Has anyone had any experience with either?  I'm looking to get some cash out refis on a couple of properties I own.  Local credit unions for some reason are only offering 15 & 20 year loans for investment properties which is just too hard on the cash flow.  I spoke with a representative on the phone.  Looks like the current rate would be somewhere around 5.75% with a 30 year term.  No income requirements or verification, all based on the asset.  The only negative loan term there appears to be is a prepayment penalty for just the first 3 years, which doesn't seem like a big deal.

Looking for some input from experience.

[Nick Belsky]

@Kyle Christy

PPP on any investment loan over 15 years is extremely common... Most lenders will price at 5 years at par, Kiavi prices at 3 years at par and have slightly higher rates due to this.

I've closed several deals with Kiavi recently, both Long Term Rental and Fix and Flips.  From the broker side, they are extremely easy.  Very well laid out portal, loan status, doc uploading, etc... is very clean.  In nearly every case the original quoted rate ended up being less when it locks after you get Clear to Close.  Their fees are right around $1100 all in.

These are DSCR loans. So light docs and they will do all the work with title and insurance on your behalf. They even offer desktop appraisals, if the property qualifies for it. The only potential downside with them is that they only offer limited loan options. But, if you are looking for a straight up 30 year fixed rate loan with no funny business, they are one of the first lenders I price when shopping for clients.

Cheers!