Question 1

Does Cap Rate Funding lend in my state?

Accepted Answer

Investment-property hard money and investor cash-out refinances are available in all 50 states and DC. HELOCs are available in 40 states plus DC; conventional, FHA and VA loans in 21 states (AL, AZ, CA, CO, FL, IA, ID, LA, MD, MI, MN, NM, NV, OH, OK, OR, PA, TN, TX, UT, WA); HEAs in 11 states; DSCR loans nationwide except SD, ND and VT.

Question 2

Can I get a HELOC or VA cash-out in Texas?

Accepted Answer

HELOCs work in Texas, but state law caps all home-equity lending at 80% combined loan-to-value and adds a 12-day waiting period before closing. VA cash-out refinances are not permitted in Texas at all, though VA rate-reduction refinances (IRRRLs) are still allowed.

Question 3

Do you offer DSCR loans in South Dakota, North Dakota, or Vermont?

Accepted Answer

Standard DSCR loans aren't offered in SD, ND, or VT. A limited exception program considers refinances there with credit below 620, capped at 50% of property value. DSCR purchases aren't available in these three states.

Question 4

Can I get hard money on my primary residence?

Accepted Answer

Owner-occupied hard money is available in Oregon, Idaho, Washington, California, and Florida. On investment properties, hard money is available nationwide — 10% minimum down with 700+ FICO (carrying 3.5 points), or 15% down below 700 FICO.

State	HELOC	HEA	DSCR & Rental	Conventional / FHA / VA	Hard Money (primary residence)	Hard Money (investment) & Investor Cash-Out	Notes
Alabama (AL)	Yes	No	Yes	Yes	No	Yes	—
Alaska (AK)	Yes	No	Yes	No	No	Yes	—
Arizona (AZ)	Yes	Yes	Yes	Yes	No	Yes	—
Arkansas (AR)	Yes	No	Yes	No	No	Yes	—
California (CA)	Yes	Yes	Yes	Yes	Yes	Yes	—
Colorado (CO)	Yes	Yes	Yes	Yes	No	Yes	—
Connecticut (CT)	No	No	Yes	No	No	Yes	—
Delaware (DE)	No	No	Yes	No	No	Yes	—
District of Columbia (DC)	Yes	No	Yes	No	No	Yes	—
Florida (FL)	Yes	Yes	Yes	Yes	Yes	Yes	—
Georgia (GA)	Yes	No	Yes	No	No	Yes	—
Hawaii (HI)	Yes	No	Yes	No	No	Yes	—
Idaho (ID)	Yes	No	Yes	Yes	Yes	Yes	—
Illinois (IL)	No	No	Yes	No	No	Yes	—
Indiana (IN)	No	No	Yes	No	No	Yes	—
Iowa (IA)	Yes	No	Yes	Yes	No	Yes	—
Kansas (KS)	Yes	No	Yes	No	No	Yes	—
Kentucky (KY)	Yes	No	Yes	No	No	Yes	—
Louisiana (LA)	Yes	No	Yes	Yes	No	Yes	—
Maine (ME)	Yes	No	Yes	No	No	Yes	—
Maryland (MD)	Yes	No	Yes	Yes	No	Yes	—
Massachusetts (MA)	No	No	Yes	No	No	Yes	—
Michigan (MI)	Yes	No	Yes	Yes	No	Yes	—
Minnesota (MN)	Yes	No	Yes	Yes	No	Yes	—
Mississippi (MS)	Yes	No	Yes	No	No	Yes	—
Missouri (MO)	No	No	Yes	No	No	Yes	—
Montana (MT)	Yes	No	Yes	No	No	Yes	—
Nebraska (NE)	Yes	No	Yes	No	No	Yes	—
Nevada (NV)	Yes	Yes	Yes	Yes	No	Yes	—
New Hampshire (NH)	Yes	No	Yes	No	No	Yes	—
New Jersey (NJ)	No	No	Yes	No	No	Yes	—
New Mexico (NM)	Yes	No	Yes	Yes	No	Yes	—
New York (NY)	No	No	Yes	No	No	Yes	—
North Carolina (NC)	No	No	Yes	No	No	Yes	—
North Dakota (ND)	No	No	Limited*	No	No	Yes	DSCR: refi-only exception program (sub-620, max 50% LTV); no DSCR purchases
Ohio (OH)	Yes	Yes	Yes	Yes	No	Yes	—
Oklahoma (OK)	Yes	No	Yes	Yes	No	Yes	—
Oregon (OR)	Yes	Yes	Yes	Yes	Yes	Yes	—
Pennsylvania (PA)	Yes	Yes	Yes	Yes	No	Yes	—
Rhode Island (RI)	Yes	No	Yes	No	No	Yes	—
South Carolina (SC)	Yes	No	Yes	No	No	Yes	—
South Dakota (SD)	Yes	No	Limited*	No	No	Yes	DSCR: refi-only exception program (sub-620, max 50% LTV); no DSCR purchases
Tennessee (TN)	Yes	Yes	Yes	Yes	No	Yes	—
Texas (TX)	Yes	No	Yes	Yes	No	Yes	Home equity capped at 80% CLTV + 12-day wait (state law); no VA cash-out
Utah (UT)	Yes	Yes	Yes	Yes	No	Yes	—
Vermont (VT)	No	No	Limited*	No	No	Yes	DSCR: refi-only exception program (sub-620, max 50% LTV); no DSCR purchases
Virginia (VA)	Yes	No	Yes	No	No	Yes	—
Washington (WA)	Yes	Yes	Yes	Yes	Yes	Yes	—
West Virginia (WV)	Yes	No	Yes	No	No	Yes	—
Wisconsin (WI)	Yes	No	Yes	No	No	Yes	—
Wyoming (WY)	Yes	No	Yes	No	No	Yes	—

Where We Lend. Every program, every state.

State rules worth knowing

Texas

Hard money on a primary residence

HEA states