Same caps as buy & sell: 1-unit $350k · 2-unit $400k · 3-unit $450k · 4-unit $500k. Also note: min 680 credit score required for all borrowers on buy & hold deals — no minimum for buy & sell.
Property type
⚠️ Mixed-use: 80% LTC (20% equity required). Only considered for more experienced developers.
Residential — standard LTC of 85% (borrower brings 15% equity at settlement).
Mixed-use — Jumpstart uses a lower LTC of 80% (borrower brings 20% equity). Mixed-use projects must have a residential component and are only considered for more experienced developers.
The lower LTC on mixed-use means a smaller loan, a larger out-of-pocket equity contribution, and slightly lower interest costs — all of which affect your cash invested and cash-on-cash return.
Enter the acquisition price and full construction/rehab budget. ARV (Jumpstart) is the post-rehab value used for Jumpstart's underwriting today. Refi ARV is the projected value at the time you actually refinance — typically 6–18 months later. They default to the same number; adjust Refi ARV upward to model appreciation or a stronger market at refi time.
Acquisition$120,000
Construction$80,000
ARV (Jumpstart underwriting)$450,000
Refi ARV (at refinance)$450,000
Timeline
Loan term12 mo
Construction donemo 7
BuildInterestExtension
Loan term — total months the Jumpstart construction loan is open (max 18: base 12 + two 3-month extensions at 2% each).
Construction done — month of the final draw. Interest accrues only after this point.
Interest months = term − construction done
Rental income
Rent/unit/month — gross scheduled rent per unit. Jumpstart requires rental properties to target 70% AMI or below. A warning will appear if your rent exceeds the 2025 Philadelphia 70% AMI limit for the unit size selected.
Vacancy — typical allowance is 5–10% for stabilized Philadelphia rentals.
Operating expenses — all non-debt costs: taxes, insurance, maintenance, management, utilities. 35–45% of gross income is typical for small residential.
Rent / unit / month$1,200
Vacancy rate8%
Operating expenses40%
⚠️ Rent may exceed 70% AMI limit for Philadelphia. Jumpstart requires affordability compliance — verify before submitting.
Permanent (refi) loan
After rehab, you refinance out of the Jumpstart construction loan into a permanent rental/DSCR loan. This permanent loan must:
1. Cover the full Jumpstart loan balance (including fees rolled in)
2. Produce a DCR ≥ 1.25 (NOI ÷ annual debt service)
Typical DSCR loans in 2025–26: 70–75% LTV, 7.0–8.0%, 30-year amortization. Adjust to match your lender's terms.
Perm LTV75%
Perm rate7.5%
Perm term30 yr
Perm loan amount: — ·
Monthly P&I: —
%
$
$
$
$
$
$
Note: 4 draw inspections included. Additional draws cost $250 each — add to "Other carry".
Debt coverage ratio
—
DCR = NOI ÷ Annual Debt Service. Jumpstart requires ≥ 1.25 for buy & hold.
A DCR of 1.25 means your rental income covers the mortgage payment with 25% to spare. Below 1.0 means you're losing money every month. Lenders require the cushion as protection against vacancies and repair surprises.
Green ≥ 1.25 passes · Amber 1.0–1.24 borderline · Red < 1.0 negative cash flow
01.25 min3.0+
Metrics
NOI — Net Operating Income: gross rent × (1−vacancy) − operating expenses. Does not include debt service.
DCR — NOI ÷ annual mortgage payment. Must be ≥ 1.25.
Cash flow/mo — NOI minus monthly mortgage payment. What you actually pocket.
Cash-on-cash — Annual cash flow ÷ total cash invested. Measures return on your out-of-pocket dollars.
Cap rate — NOI ÷ Jumpstart ARV. Property's yield based on today's underwriting value.
Equity at refi — Refi ARV minus permanent loan amount. Equity you own at refinance, using the projected future value.
Jumpstart total — All costs during the construction phase: acq + con + fees + interest.
Construction interest — Interest-only payments on the Jumpstart loan from final draw to refi.
Cash invested — Your out-of-pocket: 15% equity contribution + all fees + construction interest + refi costs.
Perm loan — Permanent loan amount at refinance (Refi ARV × LTV).
Loan bal. — Jumpstart construction loan balance (85% of acq+con, unit-capped).
Int. months — Months interest accrues on the Jumpstart loan.
NOI / yr
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DCR
—
Cash flow / mo
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Cash-on-cash
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Cap rate
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Equity at refi
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Jumpstart total
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Const. interest
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Cash invested
—
Perm loan
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Loan bal.
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Int. months
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Cash flow waterfall
Shows how gross rent flows down to net cash flow. Each bar represents the annual dollar amount at that stage. The final cash flow bar is green (positive) or red (negative).
Refi payoff diagram
Shows how the ARV is split between the permanent loan, your equity, and whether the perm loan covers the Jumpstart loan balance. The Jumpstart balance marker shows where you need the perm loan to reach.
Perm loanEquityShortfall
5-year annual cash flow
Projects annual cash flow over 5 years assuming 2% annual rent growth and static expenses/debt service. Illustrates how the property's returns improve over time.
Construction cost composition
Breaks down all construction-phase costs as a proportion of ARV. Jumpstart's fees and interest are relatively small — acquisition and construction dominate. The green "equity" segment is your built-in value above total cost.