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The Margin Keeps the Deal; the Capital Partner Keeps the Margin
Why disciplined real estate investors don’t choose lenders based on rates — and what they look for instead
By John V. Santilli, Chief Production Officer at Unitas FundingJune 11, 202610 min read
There is a version of this story that plays out every week somewhere in real estate private lending, and it rarely gets attention until the damage is already done: An investor underwrites a fix-and-flip property carefully. The numbers work on paper, and the lender is enthusiastic. The term sheet arrives quickly, and the closing happens on schedule. Then the first draw request goes in, and the waiting begins. A week passes.
About the author
Chief Production Officer at Unitas Funding
John V. Santilli is chief production officer at Unitas Funding, where he oversees operations, underwriting, and strategic growth initiatives. He is a contributor to Private Lender Perspectives: Leadership Stories from Professionals Shaping the Industry (AAPL, 2025)
