In order to be eligible for a Splitero investment, the subject property must be located in an eligible area and have an appraised value between $150,000 - $5,000,000. Properties that may be eligible for a Splitero investment include:
Properties with 2-4 units
Owner occupied and non-owner occupied
Held by individuals, in trusts (subject to approval), and by LLCs (subject to approval)
Mixed-usage if non-owner occupied
Properties that are not eligible for a Splitero investment include:
Properties with 5 or more units
Commercial/Agricultural use case properties
Homes with nontraditional design (e.g. geodesic, earth berm, constructed from a shipping container)
Properties located on 5 or more acres
Timeshares, fractional or segmented ownership
There is no minimum credit score. At the time of application, we will pull your credit which will result in a hard inquiry. Your credit report will remain valid for 120 days from the date it is pulled.
Once a full application has been submitted, you may receive an approval decision in as little as one day. Once a homeowner is approved, we will then determine the eligibility of the home to ensure it meets Splitero’s minimum investment criteria. In some situations, homeowners receive their Splitero Offer in as little as one day from the application approval date.
Yes, Splitero invests in non-owner occupied homes.
Properties held in trust are eligible for a Splitero investment. You will need to provide documentation on your trust prior to receiving full application approval.
Splitero offers investments up to $500,000. We will take your credit history and home equity position into consideration when determining the offer amount. The minimum equity a homeowner must retain in the home after the investment is 20%.
Click here to pre-qualify for a Splitero investment! It takes less than 2 minutes to see how much you may qualify for.
You may be eligible as long as you pay off your reverse mortgage or shared equity agreement before or through the closing of your Splitero investment.
Click here to see if the amount you may qualify for will be sufficient to pay off an existing obligation.
No! Because a Splitero investment has no monthly payments we have no income or employment requirements. We will not ask for any documentation about employment or income.