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
Kiavi (based in San Francisco, CA, hard money) and RCN Capital (based in South Windsor, CT, hard money) are both non-QM lenders serving real estate investors. Kiavi serves National; RCN Capital 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.
Kiavi vs RCN Capital: attribute by attribute
| Attribute | Kiavi | RCN Capital |
|---|---|---|
| Interest rate range | 5.875%–12% | 9.5%–12% |
| Origination points | 1–3 points | 1–3 points |
| Minimum credit score | 660 | 660 |
| Minimum DSCR | 0.80 | 1.00 |
| Max LTV | 80% | 80% |
| Max LTC | 95% | 90% |
| Minimum loan size | $100K | $100K |
| Maximum loan size | $2.0M | $3.5M |
| States covered | 49 states | 44 states |
| Entity vesting | Not publicly published | LLC required |
| Typical close time | 7-14 days typical | 10-21 days typical |
| Founded | 2013 | 2010 |
| Headquarters | San Francisco, CA | South Windsor, CT |
Which one fits which borrower
- Kiavi's minimum DSCR is 0.80, below RCN Capital's 1.00 floor — Kiavi will consider a property that cash-flows more thinly than RCN Capital's minimum allows.
- Kiavi's max LTC is 95% against RCN Capital's 90% — for a rehab-heavy deal, Kiavi's published figure covers a larger share of total project cost.
- RCN Capital's maximum loan size is $3.5M, above Kiavi's $2.0M ceiling — a larger transaction may need to go to RCN Capital.
- Kiavi publishes coverage in 49 states versus RCN Capital's 44 — confirm your specific state with either lender, since licensing changes.
- Kiavi does not publish a position on LLC vesting; RCN Capital requires LLC vesting. That is a real structural difference for a borrower deciding how to hold title.
- RCN Capital was founded in 2010, 3 years before Kiavi (founded 2013) — longer time in the market, not a claim about which underwrites better today.
Full profiles
- Kiavi full profile and review
- RCN Capital full profile and review
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Kiavi vs RCN Capital FAQ
Kiavi's published rate range is 5.875%–12%. RCN Capital's published rate range is 9.5%–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.
Kiavi publishes a minimum credit score of 660. RCN Capital publishes a minimum credit score of 660.
Kiavi's minimum DSCR is 0.80. RCN Capital's minimum DSCR is 1.00.
Kiavi's loan size runs $100K to $2.0M. RCN Capital's loan size runs $100K to $3.5M.
Kiavi's typical close time is 7-14 days typical. RCN Capital's typical close time is 10-21 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 Kiavi or RCN Capital, 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.