Status update: Kiavi Funding LLC was acquired by Figure Technology Solutions. The acquisition closed 1 September 2026, and DSCR loans are now originated by Figure Lending LLC dba Figure. Figure has not published a timeline for combined guidelines or pricing, so the Kiavi figures on this page describe the program as it operated before the acquisition closed.
Overview
Civic Financial Services (based in Redondo Beach, CA, hard money) and Kiavi (based in San Francisco, CA, hard money) are both non-QM lenders serving real estate investors. Civic Financial Services serves National; Kiavi serves National.
Figures for both lenders below were checked against their published materials as of 2026-09-17. Rates and terms change and are not a quote for either lender.
Civic Financial Services vs Kiavi: attribute by attribute
| Attribute | Civic Financial Services | Kiavi |
|---|---|---|
| Interest rate range | 9.5%–12% | 5.875%–12% |
| Origination points | 1–3 points | 1–3 points |
| Minimum credit score | 660 | 660 |
| Minimum DSCR | 1.05 | 0.80 |
| Max LTV | 80% | 80% |
| Max LTC | 90% | 95% |
| Minimum loan size | $75K | $100K |
| Maximum loan size | $2.0M | $2.0M |
| States covered | Not publicly published | 49 states |
| Entity vesting | LLC required | Not publicly published |
| Typical close time | 10-21 days typical | 7-14 days typical |
| Founded | 2014 | 2013 |
| Headquarters | Redondo Beach, CA | San Francisco, CA |
Which one fits which borrower
- Kiavi's minimum DSCR is 0.80, below Civic Financial Services's 1.05 floor — Kiavi will consider a property that cash-flows more thinly than Civic Financial Services's minimum allows.
- Kiavi's max LTC is 95% against Civic Financial Services's 90% — for a rehab-heavy deal, Kiavi's published figure covers a larger share of total project cost.
- Civic Financial Services's minimum loan size is $75K, below Kiavi's $100K floor — Civic Financial Services is the fit for a smaller deal that would fall under Kiavi's minimum.
- Kiavi publishes coverage in 49 states; Civic Financial Services does not publish a state count. That does not mean Civic Financial Services covers fewer states, only that the figure is not published.
- Civic Financial Services requires LLC vesting; Kiavi does not publish a position on LLC vesting. That is a real structural difference for a borrower deciding how to hold title.
- Kiavi was founded in 2013, 1 year before Civic Financial Services (founded 2014) — longer time in the market, not a claim about which underwrites better today.
Full profiles
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Civic Financial Services vs Kiavi FAQ
Civic Financial Services's published rate range is 9.5%–12%. Kiavi's published rate range is 5.875%–12%. Both ranges depend on credit, leverage, DSCR coverage and borrower experience, so where a specific deal prices inside either range varies.
Kiavi Funding LLC was acquired by Figure Technology Solutions. The acquisition closed 1 September 2026, and DSCR loans are now originated by Figure Lending LLC dba Figure. Figure has not published a timeline for combined guidelines or pricing, so the Kiavi figures on this page describe the program as it operated before the acquisition closed.
Civic Financial Services publishes a minimum credit score of 660. Kiavi publishes a minimum credit score of 660.
Civic Financial Services's minimum DSCR is 1.05. Kiavi's minimum DSCR is 0.80.
Civic Financial Services's loan size runs $75K to $2.0M. Kiavi's loan size runs $100K to $2.0M.
Civic Financial Services's typical close time is 10-21 days typical. Kiavi's typical close time is 7-14 days typical. Actual timelines depend on documentation, title work and underwriting load regardless of lender.
This comparison is an independent directory listing. DSCR Loan Program is not affiliated with Civic Financial Services or Kiavi, receives no payment for placement, and does not rank lenders in exchange for compensation. Rates, terms, and eligibility are determined by each lender and subject to change. Always verify current pricing directly with the lender before relying on any specifics.