openapi: 3.1.0
info:
  title: Lev Account & Team Term Sheets API
  version: 2026-03
  description: Build on Lev with AI-friendly API docs, agent guides, and production integration recipes.
servers:
- url: https://api.lev.com
  description: Production API
tags:
- name: Term Sheets
paths:
  /api/external/v2/deals/{deal_id}/term-sheets:
    get:
      operationId: getDealsDealIdTermSheets
      summary: List term sheets for a deal
      description: 'List term sheets for a deal


        Docs page: https://www.lev.com/docs/build/term-sheets'
      tags:
      - Term Sheets
      parameters:
      - name: deal_id
        in: path
        required: true
        description: The deal ID
        schema:
          type: integer
      - name: limit
        in: query
        required: false
        description: Results per page (1–200, default 50)
        schema:
          type: integer
      - name: cursor
        in: query
        required: false
        description: Cursor for next page
        schema:
          type: string
      responses:
        '200':
          description: Success
          content:
            application/json:
              schema:
                type: object
                properties:
                  request_id:
                    type: string
                  timestamp:
                    type: string
                    format: date-time
                  data:
                    type: array
                    items:
                      $ref: '#/components/schemas/TermSheet'
                  pagination:
                    type: object
        '401':
          description: Authentication required
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '403':
          description: Forbidden
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '404':
          description: Deal not found
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
      security:
      - bearerAuth: []
      x-lev-docs-page: https://www.lev.com/docs/build/term-sheets
      x-lev-headers:
      - 'Authorization: Bearer <token>'
      - 'X-Origin-App: <client-name>'
    post:
      operationId: postDealsDealIdTermSheets
      summary: Create a new term sheet against a placement
      description: 'Create a new term sheet against a placement


        Docs page: https://www.lev.com/docs/build/term-sheets


        Documented response: returns the full term-sheet detail object (see [Term Sheet Object](#term-sheet-object)).'
      tags:
      - Term Sheets
      parameters:
      - name: deal_id
        in: path
        required: true
        description: The deal ID
        schema:
          type: integer
      requestBody:
        required: true
        content:
          application/json:
            schema:
              required:
              - placement_id
              - total_rate
              - initial_funding
              - quote_type
              - rate_type
              type: object
              properties:
                placement_id:
                  type: integer
                  description: ID of the placement (lender outreach) this quote belongs to. Must be a placement on this deal
                total_rate:
                  type: number
                  description: Rate as a percent. Send the spread when `base_rate` is set, and send the all-in fixed rate when `base_rate` is omitted or `none-fixed`
                initial_funding:
                  type: integer
                  description: Provided loan amount (whole dollars)
                quote_type:
                  type: string
                  description: Quote type enum (see [Enums](#enums))
                rate_type:
                  type: string
                  description: Rate type enum (`fixed` or `floating`)
                title:
                  type: string
                  description: Free-text title
                winning:
                  type: boolean
                  description: Mark as the winning quote on the deal. Defaults to `false`
                is_visible_to_borrower:
                  type: boolean
                  description: Whether the term sheet is visible to the borrower. Defaults to `true`
                base_rate:
                  type: string
                  description: Base-rate identifier — accepts either an enum key (e.g. `treasury_y5`, `sofr_m1`, `prime_rate`) or the display value returned by [`GET /market/base-rates`](/build/market-data#base-rates) (e.g. `Treasury 5-Yr`, `SOFR 30-Day Avg`, `Prime Rate`). Use `none-fixed` for fixed-rate quotes with no underlying benchmark. When this is a real base-rate identifier, send `total_rate` as the spread over that base rate
                max_ltv:
                  type: number
                  description: Maximum loan-to-value as a decimal ratio (e.g. `0.70` for 70%)
                max_ltc:
                  type: number
                  description: Maximum loan-to-cost as a decimal ratio (e.g. `0.65` for 65%)
                additional_funding:
                  type: integer
                  description: Additional funding amount
                floor:
                  type: number
                  description: Rate floor as a percent (e.g. `5.00` for 5%)
                floor_type:
                  type: string
                  description: Floor type (`base_rate` or `total_rate`)
                term:
                  type: integer
                  description: Term length in months
                amortization:
                  type: integer
                  description: Amortization period in months
                io_period:
                  type: integer
                  description: Interest-only period in months
                extension_one:
                  type: integer
                  description: First extension period in months
                extension_two:
                  type: integer
                  description: Second extension period in months
                extension_three:
                  type: integer
                  description: Third extension period in months
                recourse:
                  type: string
                  description: Recourse category enum
                recourse_type:
                  type: string
                  description: Recourse type enum
                prepayment_penalty:
                  type: string
                  description: Prepayment penalty enum
                prepayment_penalty_details:
                  type: string
                  description: Free-text prepayment penalty details
                min_dscr:
                  type: number
                  description: Minimum debt-service coverage ratio (e.g. `1.25`)
                min_debt_yield:
                  type: number
                  description: Minimum debt yield as a decimal ratio (e.g. `0.08` for 8%)
                origination_fee:
                  type: number
                  description: Origination fee as a decimal ratio (e.g. `0.01` for 1%)
                extension_fee:
                  type: number
                  description: Extension fee as a decimal ratio (e.g. `0.0025` for 0.25%)
                exit_fee:
                  type: number
                  description: Exit fee as a decimal ratio (e.g. `0.005` for 0.5%)
                good_faith_deposit:
                  type: number
                  description: Good-faith deposit amount
                notes:
                  type: string
                  description: Free-text notes
                ir_details:
                  type: string
                  description: Free-text interest reserve details
                payment_method:
                  type: string
                  description: Payment method enum
                capital_source_type:
                  type: string
                  description: Capital source type enum (lender program classification)
      responses:
        '201':
          description: returns the full term-sheet detail object (see [Term Sheet Object](#term-sheet-object)).
          content:
            application/json:
              schema:
                type: object
                properties:
                  request_id:
                    type: string
                  timestamp:
                    type: string
                    format: date-time
                  data:
                    $ref: '#/components/schemas/TermSheet'
        '401':
          description: Authentication required
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '403':
          description: Forbidden
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '404':
          description: Placement not found; Deal not found
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '422':
          description: 'quote_type: input is not a valid enum member; base_rate: not a valid BaseRateNames member'
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
      security:
      - bearerAuth: []
      x-lev-docs-page: https://www.lev.com/docs/build/term-sheets
      x-lev-headers:
      - 'Authorization: Bearer <token>'
      - 'X-Origin-App: <client-name>'
      - 'Content-Type: application/json'
      - 'Idempotency-Key: <uuid>'
  /api/external/v2/deals/{deal_id}/term-sheets/{term_sheet_id}:
    get:
      operationId: getDealsDealIdTermSheetsTermSheetId
      summary: Get a single term sheet
      description: 'Get a single term sheet


        Docs page: https://www.lev.com/docs/build/term-sheets'
      tags:
      - Term Sheets
      parameters:
      - name: deal_id
        in: path
        required: true
        description: The deal ID
        schema:
          type: integer
      - name: term_sheet_id
        in: path
        required: true
        description: The term sheet ID
        schema:
          type: integer
      responses:
        '200':
          description: Success
          content:
            application/json:
              schema:
                type: object
                properties:
                  request_id:
                    type: string
                  timestamp:
                    type: string
                    format: date-time
                  data:
                    $ref: '#/components/schemas/TermSheet'
        '401':
          description: Authentication required
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '403':
          description: Forbidden
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '404':
          description: Term sheet not found
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
      security:
      - bearerAuth: []
      x-lev-docs-page: https://www.lev.com/docs/build/term-sheets
      x-lev-headers:
      - 'Authorization: Bearer <token>'
      - 'X-Origin-App: <client-name>'
    patch:
      operationId: patchDealsDealIdTermSheetsTermSheetId
      summary: Update a term sheet (partial update)
      description: 'Update a term sheet (partial update)


        Docs page: https://www.lev.com/docs/build/term-sheets


        Documented response: returns the updated term-sheet detail object.'
      tags:
      - Term Sheets
      parameters:
      - name: deal_id
        in: path
        required: true
        description: The deal ID
        schema:
          type: integer
      - name: term_sheet_id
        in: path
        required: true
        description: The term sheet ID
        schema:
          type: integer
      requestBody:
        required: true
        content:
          application/json:
            schema:
              type: object
              properties:
                title:
                  type: string
                  description: Free-text title
                winning:
                  type: boolean
                  description: Mark or unmark as the winning quote on the deal
                total_rate:
                  type: number
                  description: 'Rate as a percent. Interpreted against the resulting `base_rate`: spread when `base_rate` is set, all-in fixed rate when `base_rate` is `null` or `none-fixed`. Omitting `base_rate` leaves the existing base-rate setting unchanged'
                initial_funding:
                  type: integer
                  description: Provided loan amount (whole dollars)
                quote_type:
                  type: string
                  description: Quote type enum (see [Enums](#enums))
                rate_type:
                  type: string
                  description: Rate type enum (`fixed` or `floating`)
                base_rate:
                  type: string
                  nullable: true
                  description: Base-rate identifier — enum key (e.g. `treasury_y5`) or display value (e.g. `Treasury 5-Yr`). Omit to leave unchanged. Send `null` or `none-fixed` for fixed-rate quotes with no benchmark; see special handling below
                max_ltv:
                  type: number
                  description: Maximum loan-to-value as a decimal ratio (e.g. `0.70` for 70%)
                max_ltc:
                  type: number
                  description: Maximum loan-to-cost as a decimal ratio
                additional_funding:
                  type: integer
                  description: Additional funding amount
                floor:
                  type: number
                  description: Rate floor as a percent
                floor_type:
                  type: string
                  description: Floor type (`base_rate` or `total_rate`)
                term:
                  type: integer
                  description: Term length in months
                amortization:
                  type: integer
                  description: Amortization period in months
                io_period:
                  type: integer
                  description: Interest-only period in months
                extension_one:
                  type: integer
                  description: First extension period in months
                extension_two:
                  type: integer
                  description: Second extension period in months
                extension_three:
                  type: integer
                  description: Third extension period in months
                recourse:
                  type: string
                  description: Recourse category enum
                recourse_type:
                  type: string
                  description: Recourse type enum
                prepayment_penalty:
                  type: string
                  description: Prepayment penalty enum
                prepayment_penalty_details:
                  type: string
                  description: Free-text prepayment penalty details
                min_dscr:
                  type: number
                  description: Minimum debt-service coverage ratio (e.g. `1.25`)
                min_debt_yield:
                  type: number
                  description: Minimum debt yield as a decimal ratio
                origination_fee:
                  type: number
                  description: Origination fee as a decimal ratio (e.g. `0.01` for 1%)
                extension_fee:
                  type: number
                  description: Extension fee as a decimal ratio
                exit_fee:
                  type: number
                  description: Exit fee as a decimal ratio
                good_faith_deposit:
                  type: number
                  description: Good-faith deposit amount
                notes:
                  type: string
                  description: Free-text notes
                ir_details:
                  type: string
                  description: Free-text interest reserve details
                is_visible_to_borrower:
                  type: boolean
                  description: Whether the term sheet is visible to the borrower
                payment_method:
                  type: string
                  description: Payment method enum
                capital_source_type:
                  type: string
                  description: Capital source type enum
              minProperties: 1
      responses:
        '200':
          description: returns the updated term-sheet detail object.
          content:
            application/json:
              schema:
                type: object
                properties:
                  request_id:
                    type: string
                  timestamp:
                    type: string
                    format: date-time
                  data:
                    $ref: '#/components/schemas/TermSheet'
        '400':
          description: Request body must contain at least one field to update
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '401':
          description: Authentication required
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '403':
          description: Forbidden
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '404':
          description: Term sheet not found
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '422':
          description: 'winning cannot be null. Send true or false to update it, or omit the field to leave it unchanged.; base_rate: not a valid BaseRateNames member'
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
      security:
      - bearerAuth: []
      x-lev-docs-page: https://www.lev.com/docs/build/term-sheets
      x-lev-headers:
      - 'Authorization: Bearer <token>'
      - 'X-Origin-App: <client-name>'
      - 'Content-Type: application/json'
      - 'Idempotency-Key: <uuid>'
    delete:
      operationId: deleteDealsDealIdTermSheetsTermSheetId
      summary: Soft-delete a term sheet
      description: 'Soft-delete a term sheet


        Docs page: https://www.lev.com/docs/build/term-sheets'
      tags:
      - Term Sheets
      parameters:
      - name: deal_id
        in: path
        required: true
        description: The deal ID
        schema:
          type: integer
      - name: term_sheet_id
        in: path
        required: true
        description: The term sheet ID
        schema:
          type: integer
      responses:
        '200':
          description: Success
          content:
            application/json:
              schema:
                type: object
                properties:
                  request_id:
                    type: string
                  timestamp:
                    type: string
                    format: date-time
                  data:
                    $ref: '#/components/schemas/BooleanDeleteResult'
        '401':
          description: Authentication required
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '403':
          description: Forbidden
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
        '404':
          description: Term sheet not found
          content:
            application/json:
              schema:
                $ref: '#/components/schemas/ApiErrorEnvelope'
      security:
      - bearerAuth: []
      x-lev-docs-page: https://www.lev.com/docs/build/term-sheets
      x-lev-headers:
      - 'Authorization: Bearer <token>'
      - 'X-Origin-App: <client-name>'
      - 'Content-Type: application/json'
components:
  schemas:
    BooleanDeleteResult:
      type: object
      properties:
        deleted:
          type: boolean
    TermSheet:
      type: object
      properties:
        id:
          type: integer
          description: Term sheet identifier
        deal_id:
          type: integer
          nullable: true
          description: Deal this term sheet belongs to
        title:
          type: string
          nullable: true
          description: Term sheet title
        lender_name:
          type: string
          nullable: true
          description: Display lender name. Masked non-owner reads use borrower-portal labels such as Lender A
        quote_type:
          type: string
          nullable: true
          description: Quote type (`guidance`, `indication`, `soft_quote`, `hard_quote`, `term_sheet`)
        initial_funding:
          type: integer
          nullable: true
          description: Initial funding amount
        total_rate:
          type: number
          nullable: true
          description: Conditional rate value. Spread over `base_rate` when a benchmark is set; all-in fixed rate when `base_rate` is null or `none-fixed`.
        base_rate:
          type: string
          nullable: true
          description: Display value of the base rate (e.g. `Treasury 5-Yr`, `SOFR 30-Day Avg`) or `none-fixed
        base_rate_value:
          type: number
          nullable: true
          description: Base-rate snapshot as a percent. For base-rate quotes, display all-in rate as `base_rate_value + total_rate` when both values are known
        effective_spread:
          type: number
          nullable: true
          description: Effective spread as a percent for underwriting and comparison. For base-rate quotes, this normally equals `total_rate`.
        rate_type:
          type: string
          nullable: true
          description: Rate type (`fixed`, `floating`)
        term:
          type: integer
          nullable: true
          description: Loan term in months
        io_period:
          type: integer
          nullable: true
          description: Interest-only period in months
        recourse:
          type: string
          nullable: true
          description: Recourse type
        max_ltv:
          type: number
          nullable: true
          description: Maximum Loan-to-Value ratio
        max_ltc:
          type: number
          nullable: true
          description: Maximum Loan-to-Cost ratio
        origination_fee:
          type: number
          nullable: true
          description: Origination fee as a decimal ratio
        exit_fee:
          type: number
          nullable: true
          description: Exit fee as a decimal ratio
        org_id:
          type: integer
          nullable: true
          description: Lender organization ID. Null on masked non-owner reads
        placement_id:
          type: integer
          nullable: true
          description: Associated placement ID
        winning:
          type: boolean
          nullable: true
          description: Whether this is the winning term sheet
        is_visible_to_borrower:
          type: boolean
          description: Whether the term sheet is visible to the borrower
        notes:
          type: string
          nullable: true
          description: Free-form notes on the term sheet
        created_at:
          type: string
          nullable: true
          description: Creation timestamp
        updated_at:
          type: string
          nullable: true
          description: Last update timestamp
        capital_source_type:
          type: string
          nullable: true
          description: Capital source type
        recourse_type:
          type: string
          nullable: true
          description: Recourse type detail
        payment_method:
          type: string
          nullable: true
          description: Payment method
        prepayment_penalty:
          type: string
          nullable: true
          description: Prepayment penalty type
        prepayment_penalty_details:
          type: string
          nullable: true
          description: Prepayment penalty details
        amortization:
          type: integer
          nullable: true
          description: Amortization period in months
        extension_one:
          type: integer
          nullable: true
          description: First extension option (months)
        extension_two:
          type: integer
          nullable: true
          description: Second extension option (months)
        extension_three:
          type: integer
          nullable: true
          description: Third extension option (months)
        floor:
          type: number
          nullable: true
          description: Rate floor
        floor_type:
          type: string
          nullable: true
          description: Floor type
        good_faith_deposit:
          type: number
          nullable: true
          description: Good faith deposit amount
        min_dscr:
          type: number
          nullable: true
          description: Minimum DSCR requirement
        min_debt_yield:
          type: number
          nullable: true
          description: Minimum debt yield requirement
        ir_details:
          type: string
          nullable: true
          description: Interest reserve details
    ApiError:
      type: object
      properties:
        code:
          type: string
        message:
          type: string
    ApiErrorEnvelope:
      type: object
      properties:
        request_id:
          type: string
        error:
          $ref: '#/components/schemas/ApiError'
  securitySchemes:
    bearerAuth:
      type: http
      scheme: bearer
      bearerFormat: API Key or JWT