Does Cap Rate Funding lend in my state?

Investment-property hard money and investor cash-out refinances are available in all 50 states and DC. HELOCs on an investment property are available in 39 states plus DC; on a primary residence, a HELOC is limited to the same 21-state owner-occupied footprint as conventional, FHA and VA loans (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.

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

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.

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

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.

Can I get hard money on my primary residence?

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

Where We Lend. Every program, every state.

Licensing and program availability by state — the same footprints our qualifier enforces. Investment-property hard money and investor cash-out refinances are available nationwide. Primary residences are a different story: we are licensed to lend on owner-occupied homes in 21 states only.

Program details last reviewed: September 6, 2026 · Questions? Call/text 949-738-9770

State	Primary Residence (any program)	HELOC (investment)	HEA	DSCR & Rental	Conventional / FHA / VA	Hard Money (primary residence)	Hard Money (investment) & Investor Cash-Out	Notes
Alabama (AL)	Yes	Yes	No	Yes	Yes	No	Yes	—
Alaska (AK)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Arizona (AZ)	Yes	Yes	Yes	Yes	Yes	No	Yes	—
Arkansas (AR)	No — not licensed	Yes	No	Yes	No	No	Yes	—
California (CA)	Yes	Yes	Yes	Yes	Yes	Yes	Yes	—
Colorado (CO)	Yes	Yes	Yes	Yes	Yes	No	Yes	—
Connecticut (CT)	No — not licensed	No	No	Yes	No	No	Yes	—
Delaware (DE)	No — not licensed	No	No	Yes	No	No	Yes	—
District of Columbia (DC)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Florida (FL)	Yes	Yes	Yes	Yes	Yes	No	Yes	—
Georgia (GA)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Hawaii (HI)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Idaho (ID)	Yes	Yes	No	Yes	Yes	Yes	Yes	—
Illinois (IL)	No — not licensed	No	No	Yes	No	No	Yes	—
Indiana (IN)	No — not licensed	No	No	Yes	No	No	Yes	—
Iowa (IA)	Yes	Yes	No	Yes	Yes	No	Yes	—
Kansas (KS)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Kentucky (KY)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Louisiana (LA)	Yes	Yes	No	Yes	Yes	No	Yes	—
Maine (ME)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Maryland (MD)	Yes	Yes	No	Yes	Yes	No	Yes	—
Massachusetts (MA)	No — not licensed	No	No	Yes	No	No	Yes	—
Michigan (MI)	Yes	Yes	No	Yes	Yes	No	Yes	—
Minnesota (MN)	Yes	Yes	No	Yes	Yes	No	Yes	—
Mississippi (MS)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Missouri (MO)	No — not licensed	No	No	Yes	No	No	Yes	—
Montana (MT)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Nebraska (NE)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Nevada (NV)	Yes	Yes	Yes	Yes	Yes	No	Yes	—
New Hampshire (NH)	No — not licensed	Yes	No	Yes	No	No	Yes	—
New Jersey (NJ)	No — not licensed	No	No	Yes	No	No	Yes	—
New Mexico (NM)	Yes	Yes	No	Yes	Yes	No	Yes	—
New York (NY)	No — not licensed	No	No	Yes	No	No	Yes	—
North Carolina (NC)	No — not licensed	No	No	Yes	No	No	Yes	—
North Dakota (ND)	No — not licensed	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	Yes	No	Yes	—
Oklahoma (OK)	Yes	Yes	No	Yes	Yes	No	Yes	—
Oregon (OR)	Yes	Yes	Yes	Yes	Yes	Yes	Yes	—
Pennsylvania (PA)	Yes	Yes	Yes	Yes	Yes	No	Yes	—
Rhode Island (RI)	No — not licensed	Yes	No	Yes	No	No	Yes	—
South Carolina (SC)	No — not licensed	Yes	No	Yes	No	No	Yes	—
South Dakota (SD)	No — not licensed	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	Yes	No	Yes	—
Texas (TX)	Yes	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	Yes	No	Yes	—
Vermont (VT)	No — not licensed	No	No	Limited*	No	No	Yes	DSCR: refi-only exception program (sub-620, max 50% LTV); no DSCR purchases
Virginia (VA)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Washington (WA)	Yes	Yes	Yes	Yes	Yes	Yes	Yes	—
West Virginia (WV)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Wisconsin (WI)	No — not licensed	Yes	No	Yes	No	No	Yes	—
Wyoming (WY)	No — not licensed	Yes	No	Yes	No	No	Yes	—

*South Dakota, North Dakota & Vermont: standard DSCR loans aren’t offered; a limited exception program considers refinances with credit below 620 at a maximum 50% loan-to-value. DSCR purchases aren’t available in these three states.

State rules worth knowing

Primary residences: 21 licensed states

If the property is your primary residence, we can only help in Alabama, Arizona, California, Colorado, Florida, Idaho, Iowa, Louisiana, Maryland, Michigan, Minnesota, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Utah & Washington. Outside those states we aren’t licensed to lend on an owner-occupied home under any program — HELOC, HEA, cash-out, reverse, or otherwise — and our qualifier will tell you so up front rather than waste your time. The other columns in the table above (HELOC, HEA, and so on) only apply to a primary residence when the state is also on this list. Investment properties are not affected by this rule.

HELOC: primary residence vs. investment property

The HELOC column above shows our full HELOC licensing footprint — 39 states plus Washington, D.C. — which applies to a HELOC on an investment property. On a primary residence (a home you live in or will live in), a HELOC is available only in our 21-state owner-occupied footprint: AL, AZ, CA, CO, FL, ID, IA, LA, MD, MI, MN, NM, NV, OH, OK, OR, PA, TN, TX, UT & WA. If your state shows “Yes” for HELOC but isn’t in that 21-state list, we can do the HELOC on an investment property there but not on your primary home — a Cash-Out Refinance or HEA may fit instead.

Texas

The Texas Constitution (Art. XVI §50(a)(6)) caps home-equity lending at 80% combined LTV and requires a 12-day waiting period before closing — those are state rules, not ours. Texas also does not allow VA cash-out refinances; VA rate-reduction refinances (IRRRLs) are still permitted, and a HELOC works in Texas up to the 80% cap.

Hard money on a primary residence

Owner-occupied hard money is available in Oregon, Idaho, Washington, and California only. On investment property we lend hard money nationwide — purchases at 10% down with 700+ FICO (3.5 points) or 15% down below 700.

HEA states

Home Equity Agreements are available in AZ, CA, CO, FL, NV, OH, OR, PA, TN, UT & WA — no monthly payments, credit accepted from the 500s, $50K–$600K.

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