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 Renovo Financial (based in Chicago, IL, hard money) are both non-QM lenders serving real estate investors. Kiavi serves National; Renovo Financial serves Chicago / national.
Kiavi's figures were checked against its published materials as of 2026-09-17; the other lender's figures below are not independently dated and should be confirmed directly. Rates and terms change and are not a quote for either lender.
Kiavi vs Renovo Financial: attribute by attribute
| Attribute | Kiavi | Renovo Financial |
|---|---|---|
| Interest rate range | 5.875%–12% | 9.5%–12.5% |
| Origination points | 1–3 points | 1–3 points |
| Minimum credit score | 660 | Not publicly published |
| Minimum DSCR | 0.80 | Not publicly published |
| Max LTV | 80% | 85% |
| Max LTC | 95% | 90% |
| Minimum loan size | $100K | $100K |
| Maximum loan size | $2.0M | $5.0M |
| States covered | 49 states | Not publicly published |
| Typical close time | 7-14 days typical | 7-14 days typical |
| Founded | 2013 | 2011 |
| Headquarters | San Francisco, CA | Chicago, IL |
Which one fits which borrower
- Kiavi publishes a minimum DSCR of 0.80; Renovo Financial does not publish a minimum DSCR figure, so its coverage floor cannot be compared directly.
- Kiavi publishes a minimum credit score of 660; Renovo Financial does not publish one.
- Renovo Financial's max LTV is 85% against Kiavi's 80% — on the same purchase price, Renovo Financial's published leverage lets a borrower put down less cash.
- Kiavi's max LTC is 95% against Renovo Financial's 90% — for a rehab-heavy deal, Kiavi's published figure covers a larger share of total project cost.
- Renovo Financial's maximum loan size is $5.0M, above Kiavi's $2.0M ceiling — a larger transaction may need to go to Renovo Financial.
- Kiavi publishes coverage in 49 states; Renovo Financial does not publish a state count. That does not mean Renovo Financial covers fewer states, only that the figure is not published.
- Renovo Financial was founded in 2011, 2 years before Kiavi (founded 2013) — longer time in the market, not a claim about which underwrites better today.
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Kiavi vs Renovo Financial FAQ
Kiavi's published rate range is 5.875%–12%. Renovo Financial's published rate range is 9.5%–12.5%. 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. Renovo Financial does not publish a minimum credit score.
Kiavi's minimum DSCR is 0.80. Renovo Financial does not publish a minimum DSCR.
Kiavi's loan size runs $100K to $2.0M. Renovo Financial's loan size runs $100K to $5.0M.
Kiavi's typical close time is 7-14 days typical. Renovo Financial'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 Kiavi or Renovo Financial, 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.