Get quick, simple, and reliable funding for your real estate investments

Rain City Capital is a private money lender serving real estate investors across the country. Set apart by our seasoned team and creative loan programs, we partner closely with each borrower to ensure success. Since 2009, Rain City has funded nearly $2 billion in loans for fix-and-flips, cash-flowing rentals, ground-up construction, and auction purchases for thousands of successful investors who choose to partner with us again and again.

Fix and flip

We fund 100% of the renovation and up to 90% of the total costs. Get 12-month standard terms, rates based on experience, and close fast.

30-year/DSCR

Our 30-year rental loans provide flexible terms, high leverage, and competitive rates—without all the red tape. We fund up to 80% of purchase price, or 75% LTV for a refinance.

New Construction

Get ground-up construction financing for single-family residences or multifamily up to 4 units. We fund up to 75% of the total costs.

Please note: Rain City does not offer loans for commercial properties or owner-occupied homes.

Property Geographic Area Details

AZ, AR, CO, FL, GA, KS (Kansas City only), MO, NC, OH, OK, OR, TN, TX, and WA. (All other states on a case-by-case basis only)

Loan Amounts

$75,000 to $5,000,000

Interest Rates

10% to 12%

Loan Terms

12 months to 360 months

Lien Position

1st

Collateral Types

Residential Property

Loan Purpose

Investment Acquisition
Investment Refinance
Improve Subject Property
Use Equity to Invest in Another Property
Value Add Project

Property Occupancy

Vacant
Tenant Occupied 100%
Tenant Occupied Partial

Maximum Leverage

Purchase Short-Term (no Value-Add)

Max LTP Residential: 80%

Max LTP Multifamily: 70%

Purchase Long-Term

Max LTP Residential: 80%

Refinance Short-Term (no Cash Out)

Max LTV 1st Lien Residential: 65%

Refinance & Cash Out Short-Term

Max LTV 1st Lien Residential: 65%

Refinance Long-Term

Max LTV Residential: 80%

Residential Fix & Flip

Max LTP: 90%

Max LTC: 90%

Max LTARV: 70%

Residential Rehab & Hold

Max LTP: 90%

Max LTC: 90%

Max LTARV: 70%

Multifamily Value-Add

Max LTP: 70%

Max LTC: 70%

Max LTARV: 65%

Residential Construction

Max LTP Land: 75%

Max LTC: 75%

Max LTCV: 60%

Property Types

2-4 Units Residential
Condominium
Manufactured Home
Multifamily
Portfolio of Residential Properties
Single Family Residence

Loan Types

Private Money
Hard Money
Residential Bridge
Residential Fix and Flip
Residential Rehab and Rent
Residential Ground-Up Construction
Residential Long-Term Rental
Multifamily Bridge
Multifamily Rehab
Multifamily Ground-Up Construction

Specialty Loan Types

Residential Long-Term Rental
Reverse 1031 Exchange

Get quick, simple, and reliable short-term bridge financing with Rain City Capital—purchase up to 80% LTC, refinance up to 80% of as-is value, and cash-out up to 65% of as-is value. We offer both fast-closing standard loans as well as creative financing solutions for those outside-the-box deals. Cash partners must be on the loan. Cross collateralizing assets to cover the down payment permitted on a case-by-case basis. Additional terms may apply, contact your loan officer for full details.

Max Loan-to-Purchase Price

80%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

Own Cash
Partner
Equity in Subject Property
Equity in Another Investment Property

We fund 100% of the renovation and up to 90% of the total costs. Get 12-month standard terms, rates based on experience (starting at 10%), and close fast. New borrowers (no prior experience) welcome!

Experience Required

Minimum Number of Value-Add Projects Completed by Borrower

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

90%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

Maximum After Repair Value

70%

We offer ground-up construction loans for non-owner occupied properties in major metro areas (population of 50K or greater). Loan terms of 12-24 months available. A full spec appraisal paid upfront prior to funding is required, and approved plans, permits, and a budget and scope are required to receive the first draw. The borrower should have completed and sold at least one new build in the past 2 years and have a FICO of at least 680, but the minimums can be reviewed with compensating factors.

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

Max LTC for Ground-Up Construction Costs

75%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Rain City offers long-term rental DSCR loans for purchase, refinance, or a cash-out. Minimum FICO is 660. The origination fee is 2 points for most of our long-term loans, but borrowers can choose to buy down the interest rate by paying more points at closing. Prepayment penalties may apply for loans that prepay before year 5 and are structured as declining points as follows: 5% of unpaid loan balance if paid off before end of year 1, 4% of unpaid loan balance if paid off before end of year 2, and so on. Additional terms may apply, contact your loan officer to review pricing options.

Minimum Loan Amount

$75,000

Maximum Loan Amount

$5,000,000

Minimum Interest Rate

Maximum Interest Rate

10%

Maximum Origination Fee

Minimum Loan Term

360 months

Maximum Loan Term

360 months

Maximum Loan-To-Value

80%

Maximum Loan-To-Purchase

80%

Seasoning Time

3 months

Minimum Debt Service Coverage Ratio

1.00

Minimum Credit Score

660

Will Lend on a Portfolio of Properties

Yes

Maximum Number of Properties

Minimum Property Value

$100,000

Processing Fee

An all-in fee of $1,595 covers all underwriting, document, and lender closing costs ($1,765 for 30-year/DSCR loans).

Renovation Construction Draw Fee

$We include inspection fees ($200 per inspection) in the renovation budget so you don't have to pay out of pocket.

Minimum Origination Fee Amount

$2,000

Other Fee

A survey fee may be required by Title or state law.

Fees which are mandatory for all new borrower clients

Extension Fee

Fees which are paid to a third party company

Appraisal Fee
Escrow Fee
Title Fee

Details and Requirements

Typical Closing Time (Days)

Fastest Closing Time (Days)

Payment Structure

Interest Only
Amortized

Pre Payment Penalty

yes

No prepayment penalties for fix-and-flip, but prepayment penalties may be charged for DSCR loans that prepay before year five. Contact your loan officer for full pricing details.

Will lend to a foreign national

yes

We lend to Foreign Nationals with an approved U.S. legal entity and liquidity sources in a U.S. bank account. Financing provided at a reduced LTV.

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

Borrower Entity Types Considered

Individual(s)
LLC
Limited Partnership
Trust
Corporation
Self-Directed IRA

Documentation Required

Credit Report
Bank Statements
Financial Statements
Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

650

Credit Check Description

FICO below 600 can be reviewed with compensating factors (experience and/or assets).

Appraisal Required for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Always Before Funding

Legal Disclaimer

Rain City Capital, LLC is a licensed lender with the state of Arizona. Arizona Mortgage Banker License BK-1051866. NMLS ID: 2577725. Rain City Capital of Oregon LLC is a licensed lender with the state of Oregon. Oregon Mortgage Lending License: ML-5375. NMLS ID: 1366479. All loans are business-purpose only. Additional terms apply.

Rain City Capital Testimonials

Chris Cunningham

"Awesome lender"

Google Reviews

Ryan Simms

"Worked with these guys to close on my latest investment property in FL, specifically Jordin Mitton, and had a very good experience. They were very fast, 1.5 weeks, to get the financing in place compared to my previous lender who took 6 weeks for compliance. The cash as collateral program was also extremely attractive to me as an investor as it allows me to have about half the capital/equity in the property post renovation than I would typically under most dscr structures. Jordin was highly responsive, knowledgeable, and motivated to close which is a nice change of pace compared with some agents."

Google Reviews

Inder Chadha

"Rain City Capital funded an apartment purchase in Seattle. Austin Bunkers was able to take the deal from inception to close in 14 days, remarkable. On the day of closing, our wire only made it at 2 pm, Rain City was still able to fund the deal and we were able to close on Friday evening. I am ready to use Rain City for my future deals. Kudos to the entire team for making it happen in record time and under time pressure."

Google Reviews

Michael Bartley

"Doing my loan with Austin Bunkers was truly a great experience with this kind of work ethics. I will recommend everyone to you."

Google Reviews

David Eiglarsh

"I just closed on a mini-mansion in Weston, Florida (just West of the Fort Lauderdale airport and North of Miami). I've done 100's of flips over the past 30+ years but always self-financed and never borrowed money. Utilizing a lender was a new experience for me. I contacted no less than 10 lenders for the million dollar+ loan, plus improvement money. Jared Prevost from Rain City Capital was the first to call me and quick with his quote. Several of the other companies were slightly lower in interest rate or pre-paids. I got a comforting, secure and safe feeling dealing with Jared. The others didn't give me the piece-of-mind I needed with my large escrow deposit at risk. I couldn't afford even a slight delay in closing without the Sellers holding me in default. I needed to know we would close and fund on time. Also, Jared walked me through the entire process, including securing good insurance and an excellent interest rate. Jared delivered as promised and secured my loyalty, referrals and future business. I can't thank everyone at Rain City Capital enough. I give them my highest praise and recommendation. They earned a score of 10 from me!"

Google Reviews

Eric Berner

"Austin is the most reliable and hardworking lender I have ever worked with. I came to him with a deal that two previous lenders were unable to close and he worked with me to get around all of the issues. He displayed exceptional patience and creativity throughout the deal, and I should add, he is extremely responsive every time I call or text. Will definitely be turning to him for my next home loan."

Google Reviews

Antonio Little

"Jared has been super helpful in all aspects of my transaction. Very responsive and willing to go the extra mile to make this process as seamless as possible. Highly recommended!!"

Google Reviews

Contact Rain City Capital

Rain City Capital pays us to be listed, so there is no fee to connect with them directly.

(253) 617-XXXX

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Our home base is Kirkland, Washington, but our team works remotely from 10 US states with Sales Hubs in markets where local expertise is key to success:

Phoenix, AZ
Scottsdale, AZ
Tampa, FL
St. Louis, MO
Portland, OR
Nashville, TN
Austin, TX
Dallas, TX
Houston, TX
Kirkland, WA (Headquarters)
Seattle, WA

License

NMLS ID 2577725, Arizona MB 1051866, OR NMLS ID 1366479, OR ML-5375

Company Size (Number of Employees)

Year Established

2009

Associations

National Private Lenders Association - Member
Bigger Pockets - Featured Lender

Office Locations

Rain City Capital HQ
12131 113th Ave NE, Suite 201, Kirkland, WA 98034

Primary Capital Source

Debt Fund We Manage
Individual Investors
Bank Credit Line
Bank Pledge of Individual Mortgages

Loan Structure for Majority of Loans

Own Balance Sheet
Table Funding with Capital Partner

Percentage of Loans Secured by Residential Property

100%

Total Number of Loans Funded to Date

8,285

Total Loan Volume Funded to Date

$1,998,993,073

Our Team

Fred Rea

Founder

Ian Morell

Chief Revenue Officer

Jenn Swank

Chief Operating Officer

00:02:45

Part 3: The Process of Flipping a Property with Megan Wilaby

Contact Rain City Capital

Rain City Capital pays us to be listed, so there is no fee to connect with them directly.

(253) 617-XXXX

Click to show phone number

Send email Create a Loan Request

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates

Contact This Lender

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(253) 617-XXXX

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