General questions
Frequently Asked Questions
Getting Started & Qualifications
How do I start?
Getting started is simple. You can fill out our Pre-Qualification Form online or contact us with a basic deal summary. We’ll review your scenario immediately. We’ll discuss the deal’s profitability, your experience, and your payoff plan. You won’t pay a dime until we provide a formal Term Sheet outlining the deal structure.
What is the minimum credit score required?
We do not have a hard minimum credit score. While we review credit patterns, we are an asset-based lender. If your credit is low, we look for other strengths in the deal (equity, experience, or liquidity) to make the numbers work.
Do I need prior experience to get a loan?
While experience helps secure the best rates, we do lend to first-time investors. For New Construction, however, we require a proven track record as a contractor or builder.
What are the income requirements?
We do not have traditional DTI (Debt-to-Income) requirements. Our focus is on the property’s ability to generate income or the borrower’s ability to cover scheduled interest payments.
Loan Terms & Programs
Which states do you lend in?
Dominion Investor lends in 44 U.S. states, excluding Alaska, Nevada, North Dakota, South Dakota, and Vermont.
How do you determine the loan amount?
As an asset-based lender, loan amounts are based on the value of the collateral. Max Loan-to-Value (LTV) varies by program (Fix & Flip vs. Rental).
Will you lend 100% of the rehab costs?
Yes. We can fund 100% of the renovation budget, provided the Scope of Work and draw schedule meet our underwriting criteria.
Are there any upfront fees?
Dominion does not charge application or “junk” fees. The only initial cost you incur is the appraisal fee, which is paid directly to the third-party appraiser.
Is there a prepayment penalty?
Our Bridge and Fix & Flip loans have no prepayment penalties. Our 30-Year Long-Term Rental (DSCR) loans have flexible options for 1 to 5-year prepayment structures.
Property & Entity Requirements
Will you lend to an individual?
No. We only lend to entities (LLCs or Corporations). This ensures the loan is classified for business purposes.
Can I use a Dominion loan for my primary residence?
No. We are a commercial lender. Our loans are strictly for non-owner occupied investment properties. We do not fund primary residences, co-ops, mobile homes, or raw land.
What can I use as collateral?
We accept 1-4 family residential units, multi-family (5+ units), condos, townhomes, and mixed-use properties.
Process & Timeline
How quickly can you close?
Most loans close within two weeks. However, if your paperwork (Title, Insurance, Entity docs) is ready, we can close in as little as 3–4 days.
How fast is the approval process?
You will receive a preliminary approval or term sheet within 24 hours of submitting a complete file.
What documentation do I need to apply?
To start underwriting, we need: A completed application, credit/background authorization, bank statements (Proof of Funds), a property appraisal, and your entity docs (Articles of Org/EIN). For rentals, we also require current lease agreements.
Fix and Flip Loans
What is a fix and flip loan and how does it work?
A fix and flip loan is a short-term, business-purpose financing solution designed to fund both the purchase and renovation of an investment property. Dominion typically finances a portion of the acquisition cost and may cover up to 100% of approved renovation expenses. The loan is structured as interest-only, and interest on renovation funds applies only after those funds are disbursed based on verified completed work
How do I secure financing for a property flip?
To qualify, you must identify an investment property where improvements will increase value, whether through cosmetic upgrades or more extensive rehabilitation. Dominion finances properties strictly for investment use and does not lend on primary residences. Once the opportunity is identified, we evaluate the project scope, budget, and exit strategy.
What is required for a rehab loan?
Borrowers must have a valid purchase agreement or current ownership of the property. A detailed scope of work and construction budget are required for underwriting review. Investors are also expected to contribute equity toward the purchase at closing to ensure appropriate capital participation.
Do I need prior experience or a high credit score?
We require a minimum 620 credit score and work with first time investors.
That said, we evaluate the full profile, fico, liquidity, experience, and project strength. Experienced operators may qualify for higher leverage and preferred pricing.
How quickly can Dominion fund?
We can close in as little as 7 days.
Speed improves when documentation is complete and underwriting is prepared in advance.
What are the options once the project is complete?
Upon completion, investors may sell the property and repay the loan without prepayment penalties. Alternatively, the property can be refinanced into a long-term DSCR rental loan through Dominion. Bridge refinance options may also be available for borrowers who need additional time. Fee reductions may apply to qualifying internal refinance transactions.
Does Dominion support BRRR strategies?
Yes. Dominion provides financing for both the acquisition/renovation phase and the long-term rental refinance phase. Investors who utilize Dominion for both stages may qualify for origination fee incentives on the refinance.
What if construction exceeds the projected timeline or budget?
Renovation budgets are reviewed prior to closing to help reduce the risk of overruns. If unexpected delays occur, extension options may be available subject to review and updated project evaluation. Borrowers are encouraged to communicate proactively if challenges arise.
What properties are eligible?
Eligible properties typically include non-owner-occupied single-family homes, 2–4 unit residential properties, 5+ units and warrantable condominiums. Both minor cosmetic projects and significant rehabilitation efforts may qualify, subject to underwriting criteria and minimum property value thresholds.
Are foreign nationals eligible?
Foreign nationals may be considered for financing, even without an established U.S. credit history. Additional documentation and underwriting standards apply, and eligibility is evaluated on a case-by-case basis.
Rental Loans
How do I obtain financing for a rental property?
To qualify for business-purpose rental financing, the property must be held or acquired in an LLC or similar entity. Rental loans may be used for purchase, refinance, cash-out, or cross-collateralization strategies.
Available leverage is determined by the appraised value of the property and its demonstrated or projected cash flow, measured by debt service coverage ratio (DSCR). A minimum 640 credit score is required.
What is the application process for a rental loan?
Investors begin by requesting a quote and submitting property details. Once terms are reviewed and accepted, a formal application is completed and supporting documentation is provided.
For refinances, borrowers must supply current leases, rent verification, and relevant property documentation to validate income. For acquisitions, a fully executed purchase agreement is required.
How do you qualify for a DSCR loan?
Qualification is based on credit profile, liquidity, and property-level performance. Dominion evaluates the property’s ability to service its debt through DSCR analysis.
A minimum 1.0 DSCR is required. Properties with DSCR of 1.2 or greater may qualify for preferred pricing and enhanced leverage. No minimum DSCR threshold available
How is rental income verified?
For refinance transactions, current leases and rental history are reviewed to confirm income. For new purchases or vacant properties, market rent projections are utilized to determine income assumptions.
Are origination fees tax deductible?
Investors should consult a qualified tax professional regarding the treatment of loan-related expenses associated with business-purpose investment properties.
Can a DSCR loan be refinanced?
Yes. Investors frequently refinance DSCR loans for rate improvement or to access equity through cash-out transactions. Borrowers should review any existing prepayment provisions and consider how rate structures (fixed, ARM, or interest-only) affect their refinance strategy. Cross-collateralization may also be considered for portfolio expansion.
How is net operating income calculated?
Net operating income (NOI) is calculated by subtracting operating expenses from gross property revenue. Debt service is factored into DSCR calculations separately. NOI may also account for recurring property expenses and capital expenditures.
What underwriting criteria are used?
Borrower underwriting evaluates credit score and liquidity. Property underwriting includes a current appraisal and analysis of rent history or market rents to confirm DSCR compliance.
For short-term rentals, underwriting guidelines are adjusted to reflect the variability of STR income.
What seasoning is required?
A minimum of three months seasoning is typically required for DSCR refinances. Seasoning may be waived for internal refinances from Dominion fix-and-flip, new construction, or bridge loans.
What property types are eligible?
Eligible properties generally include non-owner-occupied single-family residences, multifamily properties up to nine units, and warrantable condominiums. Additional property types may be considered subject to underwriting review.
Are foreign nationals eligible?
Foreign national borrowers may qualify for rental financing, even without established U.S. credit. Additional documentation and underwriting requirements apply.
New Construction Loans
Do I need permits before closing?
Not necessarily. In many cases, borrowers may close prior to final permit issuance, allowing capital to be secured earlier while site preparation and pre-construction activities begin. Permit status will be evaluated during underwriting based on project scope and jurisdiction requirements.
Can I finance both land and construction costs?
Yes. Dominion construction loans may finance up to 90% of total project costs, including eligible land acquisition and vertical construction expenses such as materials and labor. Final leverage depends on borrower experience and overall project strength.
For refinances, borrowers must supply current leases, rent verification, and relevant property documentation to validate income. For acquisitions, a fully executed purchase agreement is required.
How do construction draws work?
Construction funds are disbursed in stages as work is completed. Borrowers submit draw requests tied to milestone progress, which are reviewed and verified prior to release. Once approved, funds are deployed to support continued construction without unnecessary delays.
Interest accrues only on funds drawn, helping preserve capital efficiency during the build phase.
What experience is required to qualify?
Ground-up construction financing requires demonstrated experience. Borrowers must show prior involvement in similar projects, whether as an owner on title, licensed contractor, or through documented value-add real estate experience. Experience level influences leverage and structure.
What documentation is required prior to approval?
Borrowers must provide approved plans, a detailed line-item budget, contractor information, and a defined construction timeline. Our internal team reviews the budget and project feasibility as part of disciplined underwriting.
What are the standard loan terms?
Construction loans are typically structured with 12-month terms, with extended 24-month options available depending on project scope and timeline.
What happens after construction is complete?
Upon completion, borrowers may sell the asset or refinance. For build-to-rent strategies, a transition into long-term DSCR rental financing may be available, including streamlined internal refinance options.
Are foreign nationals eligible?
Foreign nationals and permanent residents may qualify for construction financing, even without an established U.S. credit profile. Additional underwriting and documentation standards apply.
Is Halachically compliant financing available?
Dominion understands the importance of aligning financial solutions with investor values. For borrowers seeking Halachically compliant structures, Heter Iska-based financing may be available as an alternative to conventional interest-bearing loans. This structure is designed to avoid Ribbis (interest) in accordance with Jewish law. Additional information is available upon request.