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Field Notes
Underwriting, deal math, and market notes — written by the people funding the loans, not a content team.
FEATURED · BRIDGE · 6 MIN READ
Bridge vs Hard Money: Pricing, Diligence, and Exit Certainty Explained
Bridge and hard money are often conflated, but they differ meaningfully in cost, underwriting depth, and how exits are structured. Both serve investors in transition, but with distinct risk profiles a
SEP 2026 · SILT UNDERWRITING DESK
DSCR · 7 MIN
DSCR Qualification Mechanics: How We Tier Your File
DSCR qualification starts with a simple ratio: net annual rental income divided by total annual debt service. We walk through the calculation, the three long-term rental tiers, and how your file lands
SEP 2026
FIX & FLIP · 5 MIN
Fix-and-Flip Draw Schedules: Request, Inspection, and Funding
Draw schedules tie funding to completed work. Learn how to request draws, what inspections entail, and how funds move from closing to your contractor's account.
SEP 2026
DSCR · 5 MIN
Portfolio Loans for 5+ Doors: When to Consolidate Your Rentals
Holding five or more rentals often creates complexity across multiple lenders, servicers, and loan terms. A portfolio DSCR loan can streamline management and unlock better capital access. This field n
SEP 2026
OPERATIONS · 6 MIN
Insurance Requirements for Real Estate Lenders: Coverage Amounts, Mortgagee Clauses, and Binder Timing
Understanding insurance requirements is essential before closing. This guide covers the coverage amounts lenders typically require, how mortgagee clauses protect the lender, and why binder timing matt
SEP 2026
OPERATIONS · 5 MIN
LLC Vesting for Rentals: Entity Structure, Guaranties, and Lender Requirements
When you finance a rental through an LLC, vesting structure and guarantor documentation become critical. Here's what lenders review and why the paperwork matters for your loan approval.
SEP 2026
MARKET NOTES · 8 MIN
Treasury Moves and Spread Logic: Reading the Curve Against Silt Capital's Rate Tiers
When the 10-year treasury moves, our DSCR and bridge pricing adjusts in concert. This note walks through how spreads work across our programs and what current yield curve conditions suggest for borrow
SEP 2026
OPERATIONS · 7 MIN
First-Time Investor Mistakes: File-Level Errors That Kill Leverage and Time
Most first-time investors lose weeks and leverage to preventable file errors: wrong entity type, incomplete tax returns, missing bank statements, and mismatched property addresses. Fix these before yo
AUG 2026
DSCR · 6 MIN
Cash-Out Refi Mechanics: Seasoning, LTV, and Proceeds Calculation
Cash-out refinances unlock equity in stabilized rental properties, but lender requirements on seasoning and LTV determine how much you can extract. Learn the mechanics behind proceeds calculation and
AUG 2026
OPERATIONS · 5 MIN
Prepayment Penalties Explained: Step-Down Structures, Buyouts, and Rate Tradeoffs
Prepayment penalties protect lenders when borrowers pay off early. Step-down structures reduce penalties over time. A lower interest rate now may cost more to exit early. Understanding the tradeoff he
AUG 2026
OPERATIONS · 6 MIN
Appraisal vs BPO: When Each Is Used and What Value Opinions Support
Appraisals and BPOs serve different purposes in the lending process. Understand when each is ordered, what value opinions can and cannot support, and how they fit into underwriting for fix & flips, br
AUG 2026
DSCR · 12 MIN
The complete DSCR loan guide: qualify on the rent, close in your LLC
Everything in the underwrite — the formula, the tiers, what moves your rate, and the six documents that actually matter.
AUG 2026
GROUND-UP CONSTRUCTION · 5 MIN
Construction Loan Draws: Budget Tracking, Inspections, and Interest Carry
Ground-up construction loans disburse funds in stages tied to completed work. Learn how draws align with budgets, third-party inspection requirements, and how interest carry affects your all-in cost.
AUG 2026
BRRRR · 8 MIN
The BRRRR exit: timing your cash-out refi so the appraisal works for you
Seasoning rules, the 75% cash-out cap, and why month seven beats month four.
JUL 2026
SHORT-TERM RENTALS · 9 MIN
Underwriting Airbnb income: AirDNA, host history, and the 12-month rule
How we credit STR revenue when there's no long-term lease to point at.
JUL 2026
BRIDGE · 6 MIN
Bridge-to-DSCR: one lender, both ends of the deal
Buy fast on the bridge, season the rents, roll into 30-year money — without re-diligence.
JUN 2026
ENTITY & TAX · 7 MIN
Closing in an LLC: vesting, guaranties, and what your CPA will ask
Why title vests in the entity, what you personally sign, and the DTI question that never comes up.
JUN 2026
OPERATIONS · 5 MIN
Anatomy of a fast close: where files actually lose time
The three borrower-side bottlenecks — and the day-one checklist that clears them.
MAY 2026
MARKET NOTES · 6 MIN
Where DSCR rates come from: treasuries, spreads, and your FICO
The 5-year treasury, securitization spreads, and the part of your rate you can actually control.
MAY 2026
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