PurchaseRaleigh, NC
Single-family rental
DSCR1.14x
- Loan
- $270,000
- Price
- $360,000
- LTV
- 75%
- Rent / PITIA
- $2,750 / $2,420
- Closed in
- 17 days
Buyer with two other rentals; the signed lease supported the quote.
Your tenant's rent does the talking. Finance a purchase or refinance in all 50 states with a 0.75x DSCR floor, leverage up to 85% and closings in as few as 14 days.
Type in two numbers to see roughly where a property lands.
The basics
A DSCR (debt service coverage ratio) loan asks one question: does this rental earn enough to pay for itself? Three numbers answer it.
A signed lease, or an appraiser's market-rent estimate when the unit is vacant or newly purchased.
Principal, interest, property taxes, insurance and any association dues, counted at their actual cost.
Credit score, down payment and cash reserves decide how much flexibility the ratio gets.
Is it for you?
It is a sharp tool for rental owners. It is the wrong tool for a home you plan to live in.
Deal desk
Each card shows how rent, payment and leverage turn into a ratio. Cards trimmed in wine fall under 1.00x and needed extra strength elsewhere.
Buyer with two other rentals; the signed lease supported the quote.
Equity pulled from a stabilized triplex to fund the next purchase.
Qualified on an appraiser's short-term rental income estimate.
Low entry price and two leased units produced a wide cushion.
Overseas buyer, no U.S. credit file, 30% down and a property manager.
Rent trails the payment, so 70% leverage and reserves carried the file.
Illustrative scenarios for education only. They are not real borrowers, an offer or a commitment to lend. Terms depend on the borrower, property and market. NMLS #1826020.
Loan programs
Buy a single-family home, condo, townhome or 2-4 unit building with leverage up to 85%.
Turn built-up equity into reserves or a down payment, typically at 75-80% of value.
Replace a hard-money or balloon loan with a longer-term fixed payment.
Qualify a cabin, condo or beach house using an appraiser's rent estimate or booking history.
Non-U.S. investors can buy without a U.S. credit history, with more down and verified funds.
Add a property without your other loans counting against your income, since there is no income to count.
The path to closing
Share the address, rent and price or value on the online form. A soft look means your credit score is not hit yet.
We run your ratio on real taxes and insurance and return tiered pricing, often the same day.
Pick a tier, lock the rate and order the appraisal, title and insurance together so nothing waits in line.
With no income paperwork, the file is reviewed on the property, entity papers and reserves.
Close in your name or your LLC and move on to the next deal.
Send it in tonight. No tax returns, no hard credit pull to begin.
Browse by state
Rents, taxes and insurance shape the ratio differently in every state. Each snapshot below lists key markets, what keeps renters coming and one underwriting watch-out, then links to the full state page.
Key marketsTampa, Orlando, Miami, Jacksonville
What drives rentersRelocations and year-round tourism
Underwriting noteInsurance and HOA dues weigh heavily on the payment, so quote with real figures
Florida DSCR Loans →Key marketsDallas-Fort Worth, Houston, Austin, San Antonio
What drives rentersCorporate relocations and fast job growth
Underwriting noteHigh property taxes sit in the payment, so use the true figure
Texas DSCR Loans →Key marketsAtlanta, Savannah, Augusta
What drives rentersFilm production, logistics hubs and corporate moves
Underwriting noteSuburban single-family homes are the core product; verify HOA rules
Georgia DSCR Loans →Key marketsCharlotte, Raleigh, Greensboro
What drives rentersBanking, tech and Research Triangle growth
Underwriting noteCoastal homes can carry high wind-insurance premiums
North Carolina DSCR Loans →Key marketsNashville, Memphis, Knoxville, Gatlinburg
What drives rentersMusic, healthcare and Smoky Mountain tourism
Underwriting noteCabin rentals need proof of local short-term rental eligibility
Tennessee DSCR Loans →Key marketsColumbus, Cleveland, Cincinnati
What drives rentersHospitals, universities and corporate expansion
Underwriting noteEntry prices are low, which usually lifts the coverage ratio
Ohio DSCR Loans →Key marketsPhoenix, Tucson, Scottsdale
What drives rentersChip-plant construction and winter-visitor demand
Underwriting notePools, HOA dues and cooling costs can squeeze coverage on pricier homes
Arizona DSCR Loans →Key marketsPhiladelphia, Pittsburgh, Allentown
What drives rentersHospitals, universities and warehouse growth
Underwriting noteRow homes and duplexes suit rent-first underwriting; check city licenses
Pennsylvania DSCR Loans →Key marketsCharleston, Greenville, Myrtle Beach
What drives rentersPort activity, manufacturing and retiree inflows
Underwriting noteCoastal flood and wind coverage should be quoted before you commit
South Carolina DSCR Loans →Key marketsBirmingham, Huntsville, Mobile
What drives rentersEngineering and defense hiring plus big college enrollments
Underwriting noteLower prices make 1.0x+ ratios realistic; check flood zones near the Gulf
Alabama DSCR Loans →Key marketsIndianapolis, Fort Wayne, Evansville
What drives rentersLogistics, manufacturing and life-science employers
Underwriting noteLow entry prices help coverage, but confirm the property's condition
Indiana DSCR Loans →Key marketsKansas City, St. Louis, Springfield
What drives rentersHealthcare, logistics and universities in each metro
Underwriting noteNeighborhood-level rent differences are large, so lean on solid comps
Missouri DSCR Loans →Key marketsAnchorage, Fairbanks, Juneau
What drives rentersMilitary bases and resource-sector work crews
Underwriting noteRemote sites raise insurance and repair costs, so confirm them before you offer
Alaska DSCR Loans →Key marketsLittle Rock, Fayetteville, Bentonville
What drives rentersRetail and trucking headquarters plus a flagship university
Underwriting noteSmaller markets lean on tight rent comps, so keep the lease handy
Arkansas DSCR Loans →Key marketsLos Angeles, San Diego, Sacramento
What drives rentersA deep job base and a long-running housing shortage
Underwriting notePrices compress coverage, so ADUs and 2-4 unit buildings often pencil best
California DSCR Loans →Key marketsDenver, Colorado Springs, Fort Collins
What drives rentersTech, aerospace and military payrolls
Underwriting noteMountain towns may ask for proof that short-term rentals are permitted
Colorado DSCR Loans →Key marketsHartford, New Haven, Stamford
What drives rentersInsurers, hospitals, universities and New York commuters
Underwriting noteOlder 2-4 family buildings carry meaningful property taxes in the payment
Connecticut DSCR Loans →Key marketsWilmington, Dover, Rehoboth Beach
What drives rentersBanking, chemical and defense jobs plus beach-season stays
Underwriting noteBeach rentals are seasonal, so lenders favor a twelve-month income view
Delaware DSCR Loans →Key marketsCapitol Hill, Navy Yard, Columbia Heights
What drives rentersFederal employment, embassies and universities
Underwriting noteCondo and co-op rules and registration should be checked first
District of Columbia DSCR Loans →Key marketsHonolulu, Maui, Kona
What drives rentersTourism and military housing needs
Underwriting noteLeasehold land and county vacation-rental rules need review first
Hawaii DSCR Loans →Key marketsBoise, Meridian, Coeur d'Alene
What drives rentersSteady in-migration and a growing tech scene
Underwriting noteFast price gains mean you should recheck rent against the payment
Idaho DSCR Loans →Key marketsChicago, Aurora, Peoria
What drives rentersA large employer base and transit-served neighborhoods
Underwriting noteChicago-area buildings may need city rental registration on file
Illinois DSCR Loans →Key marketsDes Moines, Cedar Rapids, Iowa City
What drives rentersInsurance, finance and two major universities
Underwriting noteStudent-heavy rentals may require per-bedroom lease detail
Iowa DSCR Loans →Key marketsWichita, Overland Park, Topeka
What drives rentersAviation, healthcare and Kansas City suburbs
Underwriting noteProperty taxes vary by county, so use the actual bill
Kansas DSCR Loans →Key marketsLouisville, Lexington, Bowling Green
What drives rentersPackage-logistics, auto plants and a flagship university
Underwriting noteModest prices make this a friendly first-investment state
Kentucky DSCR Loans →Key marketsNew Orleans, Baton Rouge, Lafayette
What drives rentersPort, energy and healthcare employment
Underwriting noteFlood and wind coverage can be costly, so count it in the payment early
Louisiana DSCR Loans →Key marketsPortland, Bangor, Lewiston
What drives rentersRemote workers, tourism and little new construction
Underwriting noteSeasonal rentals do best with a documented twelve-month history
Maine DSCR Loans →Key marketsBaltimore, Frederick, Columbia
What drives rentersFederal, defense and biotech jobs
Underwriting noteMany counties require a rental license before closing
Maryland DSCR Loans →Key marketsBoston, Worcester, Springfield
What drives rentersUniversities, biotech and hospitals
Underwriting notePrices run high, so 2-4 unit buildings usually clear the ratio more easily
Massachusetts DSCR Loans →Key marketsDetroit, Grand Rapids, Ann Arbor
What drives rentersAuto, healthcare and university employment
Underwriting noteCity rental certificates are common and worth ordering early
Michigan DSCR Loans →Key marketsMinneapolis, St. Paul, Rochester
What drives rentersCorporate headquarters, the Mayo campus and the U of M
Underwriting noteWinter operating costs matter for older small apartment buildings
Minnesota DSCR Loans →Key marketsJackson, Gulfport, Oxford
What drives rentersShipbuilding, Gulf-coast tourism and campus demand
Underwriting noteVery low prices can produce strong ratios; insurance is the swing factor
Mississippi DSCR Loans →Key marketsBozeman, Missoula, Billings
What drives rentersRemote workers, university growth and outdoor tourism
Underwriting noteShort-term rentals should show local permit status
Montana DSCR Loans →Key marketsOmaha, Lincoln
What drives rentersInsurance, agribusiness and healthcare
Underwriting noteModerate prices let long-term rents carry most deals
Nebraska DSCR Loans →Key marketsLas Vegas, Henderson, Reno
What drives rentersHospitality, logistics and manufacturing relocations
Underwriting noteCheck HOA and county rules before planning a short-term rental
Nevada DSCR Loans →Key marketsManchester, Nashua, Portsmouth
What drives rentersBoston-area commuters and no state income tax
Underwriting noteVery low vacancy helps rents, though supply is limited
New Hampshire DSCR Loans →Key marketsNewark, Jersey City, Trenton
What drives rentersNew York commuters, ports and pharma jobs
Underwriting noteHigh property taxes are the biggest line in the payment
New Jersey DSCR Loans →Key marketsAlbuquerque, Santa Fe, Las Cruces
What drives rentersNational labs, military bases and tourism
Underwriting noteSanta Fe short-term rentals are tightly regulated
New Mexico DSCR Loans →Key marketsBuffalo, Rochester, Syracuse, the five boroughs
What drives rentersHospitals, universities and downstate overflow
Underwriting noteUpstate ratios are strongest; city deals need extra care with taxes
New York DSCR Loans →Key marketsFargo, Bismarck, Grand Forks
What drives rentersEnergy, agriculture and healthcare hiring
Underwriting noteA small market, so expect lenders to ask for local comparables
North Dakota DSCR Loans →Key marketsOklahoma City, Tulsa
What drives rentersEnergy, aerospace and revitalized downtowns
Underwriting noteHail-related insurance deductibles are worth pricing in
Oklahoma DSCR Loans →Key marketsPortland, Eugene, Bend
What drives rentersTech, outdoor lifestyle and limited buildable land
Underwriting noteSome cities cap rent growth, so confirm local rules
Oregon DSCR Loans →Key marketsProvidence, Warwick, Newport
What drives rentersUniversities, hospitals and coastal tourism
Underwriting noteCompact market where 2-4 unit buildings are the sweet spot
Rhode Island DSCR Loans →Key marketsSioux Falls, Rapid City
What drives rentersBanking, healthcare and steady population gains
Underwriting noteModest prices let rents carry the payment on many homes
South Dakota DSCR Loans →Key marketsSalt Lake City, Provo, St. George
What drives rentersTech, universities and rapid household growth
Underwriting noteRising prices tighten ratios; lower leverage can restore balance
Utah DSCR Loans →Key marketsBurlington, Stowe, Montpelier
What drives rentersUniversities, ski tourism and scarce housing
Underwriting noteSeasonal income is best shown with a full twelve months of data
Vermont DSCR Loans →Key marketsRichmond, Virginia Beach, Northern Virginia
What drives rentersFederal contractors, the Navy and data centers
Underwriting noteMilitary-driven turnover is steady, which helps lease-up
Virginia DSCR Loans →Key marketsSeattle, Tacoma, Spokane
What drives rentersTech, aerospace and port employment
Underwriting noteSeattle prices are steep; Spokane often offers better coverage
Washington DSCR Loans →Key marketsCharleston, Morgantown, Huntington
What drives rentersHealthcare, a major university and remote-work arrivals
Underwriting noteVery low prices often produce high ratios on smaller loans
West Virginia DSCR Loans →Key marketsMilwaukee, Madison, Green Bay
What drives rentersHealthcare, manufacturing and UW-Madison
Underwriting noteDuplexes in older neighborhoods are common; plan for property taxes
Wisconsin DSCR Loans →Key marketsCheyenne, Casper, Jackson
What drives rentersEnergy, tourism and military employment
Underwriting noteJackson is pricey; Cheyenne and Casper pencil more easily
Wyoming DSCR Loans →Free tool
Enter your numbers to preview coverage, monthly cash flow and the break-even rent, plus what happens if rent slips 10%.
Illustrative only; not a commitment to lend. DSCR = rent × (1 − vacancy) ÷ PITIA. Lender programs may compute rent and vacancy differently. The rate shown is an example. Excludes closing costs.
Side by side
| Feature | DSCR loan | Conventional investor loan | Hard-money loan |
|---|---|---|---|
| Approval basis | Rent versus payment | Personal income and DTI | Property value and exit plan |
| Income documents | None | Tax returns, W-2s, pay stubs | Light |
| Term | Long-term, often 30 years | 15 or 30 years | 6-24 months |
| Property count | No set ceiling | Often capped near 10 | No set ceiling |
| Borrower type | Individual or LLC | Usually individual | Individual or LLC |
| Typical speed | As fast as 14 days | 30-60 days | Days to two weeks |
| Typical cost | Middle | Lowest rate | Highest rate and fees |
General comparison only. Actual terms depend on the lender, borrower and property.
Questions
A regular mortgage is approved on your paycheck and debt-to-income ratio. A DSCR loan is approved on the property: the lender compares expected monthly rent with the monthly housing payment (principal, interest, taxes, insurance and association dues). If the rent covers the payment, the deal can move forward without tax returns or pay stubs.
Most programs like to see 1.00x or better, meaning rent equals the payment. Select programs go down to 0.75x when the borrower brings strong credit, lower leverage or healthy cash reserves. Anything under 1.00x usually means a smaller loan amount or a higher rate.
Yes. The online application is open day and night, so you can send a property at 11 p.m. and have it waiting for review when the desk opens. Review, pricing and underwriting happen during normal business hours.
Expect a lease or rent estimate, a property address, proof of funds for the down payment and reserves, an ID, and entity papers if you are buying inside an LLC. Income documents such as tax returns, W-2s and pay stubs are not part of the file.
A 620 score is the usual floor. Scores of 720 and above generally earn the sharpest pricing and highest leverage, while lower scores may mean more down payment or extra reserves.
Purchases can reach 85% loan-to-value for strong borrowers, so the minimum down payment can be as low as 15%. Cash-out refinances typically cap at 75-80%. Closing costs and reserves are separate from the down payment.
They can. Lenders usually underwrite vacation rentals with an appraiser's rent estimate or a trailing-twelve-month booking history, and some programs require proof that short-term rentals are legal at the address.
Yes to both. Non-U.S. investors can qualify without a U.S. credit history, usually with a larger down payment and verified funds. Many investors also close in the name of an LLC to keep each property in its own liability bucket.
Many DSCR loans carry a step-down prepayment period, commonly three to five years. Buyouts and no-penalty options exist at a different price, so ask for both versions on your term sheet.
No. DSCR loans are business-purpose loans for investment properties you do not live in.
The application is open whenever you are. No tax returns and no hard credit pull to begin.
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