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Guiding principles

Discipline, transparency, and partnership drive every loan.

Here are the ten commitments we bring to every borrower relationship, with a special focus on the NC & VA markets where clean, well-scoped projects and strong rental fundamentals perform best.

  1. We lend for builders, not just projects

    Every loan is the start of a relationship. We want borrowers who plan to grow—and we reward those who execute with discipline and transparency.

  2. We specialize in workforce markets

    Our sweet spot is North Carolina and Virginia workforce housing in secondary and tertiary markets where values are grounded, scopes are manageable, and rent-to-price ratios support sustainable, DSCR-friendly exits. We’ll finance outside those lanes when the fundamentals are strong, but that’s where we’re most competitive.

  3. Performance earns better terms

    We reward operators who manage leverage, timelines, and scopes responsibly. When you bring us clean, well-planned projects and execute consistently, capital gets cheaper, faster, and more flexible over time.

  4. Speed shouldn’t mean chaos

    Fast capital should still be thoughtful. Our tech stack streamlines underwriting and draws, so you move quickly—without sacrificing clarity.

  5. Transparency is non-negotiable

    No hidden fees, no surprise compounding, no vague fine print. You’ll know every cost up front, in plain language.

  6. Capital should be predictable, not punitive

    We design structures that create breathing room—fixed-rate simplicity, clear extension options, and draw schedules that protect your liquidity, especially when your plan involves renting, seasoning, and refinancing into DSCR or long-term debt.

  7. Flexibility for the real world

    We understand the realities of NC & VA projects—weather delays, permit backlogs, contractor bottlenecks, and the occasional curveball—and build in flexibility where it matters.

  8. Technology should simplify, not complicate

    From digital inspections to same-day draw approvals, we invest in tools that save you time and paperwork—not ones that get in your way.

  9. Compliance is a feature, not a friction

    We run a transparent, fully documented platform. Institutional discipline is part of what protects both our borrowers and investors.

  10. We price risk, not relationships

    Our underwriting is consistent and data-driven. We look at total cost, realistic ARV, rental strength, and execution risk. Strong sponsors can earn exceptions at the edges, but leverage always follows fundamentals, not how well we know you.

  11. We build long-term lending partnerships

    Felspar’s goal is to fund you again and again—across markets, asset types, and cycles. When you perform, your capital should get cheaper and faster over time.

  12. We lean into grounded projects

    We’re not the right lender for every deal. We’re at our best on projects with clear scopes, grounded valuations, and exits that work even when the market isn’t euphoric. If that’s how you build, we’d like to be part of your capital stack.