DSCR Lenders In 2026: Who Offers Them, Rates & Requirements Compared

Written by

Alex Martinez, Founder & CEO, Real Estate Skills. Has wholesaled and flipped houses for over 14 years, been part of 1,000+ real estate transactions, and personally acquired 33+ residential investment properties. Has trained 6,000+ investors nationwide.

RZ

Reviewed by

Ryan Zomorodi, Co-Founder & COO, Real Estate Skills. Re-verified all 24 lender entries, state-coverage lists, and qualification figures against each lender's own published materials in September 2026.

✓ Updated September 2026 ✓ Terms Re-Verified 📊 24 Lenders Listed 📍 State Coverage Included Watch on YouTube

Publication history: Originally published January 1, 2024. Updated June 2026 with a verified 7-lender comparison. Updated September 2026 with a full 24-lender DSCR directory, a state-by-state coverage section, a DSCR calculator, a dated rate-tracking table, and corrections to state-coverage and ownership figures that had changed since June. All entries re-verified by Ryan Zomorodi, Co-Founder & COO of Real Estate Skills.

A DSCR loan qualifies you on the property's rent, not your paycheck. DSCR stands for debt service coverage ratio, and the math is simple: divide the property's income by its full loan payment. A property renting for $2,400 a month against a $2,000 monthly payment (principal, interest, taxes, insurance, and any HOA) has a DSCR of 1.2, meaning it throws off 20% more income than the debt costs. That single number is what a DSCR lender cares about. No W-2s, no tax returns, no debt-to-income ratio. If the property carries itself, you're in the conversation.

The question most investors actually type into Google isn't "who's the best." It's some version of who does these loans at all, and do they lend where I'm buying. So that's what this page leads with. Below you'll find a directory of 24 lenders offering DSCR loans as of September 2026, what each one requires, and which states each actually operates in. That last part is what almost no comparison list gets right.

Then, because a list of 24 names isn't a decision, I review the seven I'd actually call first and map each to the situation it's built for. There is no single best DSCR lender. There's a best lender for your deal. The right call for an investor with a 640 credit score is not the right call for someone chasing 80% leverage on a short-term rental, and neither is right for the person who needs to close in nine days before they lose the property.

Every figure here was checked against the lender's own published materials in September 2026 and date-stamped, because rate sheets and overlays change fast. Where a lender doesn't publish a number, it says "not published" rather than a guess. You can attend our free training here to learn how to find and finance deals that actually cash-flow.

What Changed In DSCR Lending This Quarter

I'd rather show you what we got wrong and fixed than quietly edit it, so here's the changelog in plain English.

Kiavi is now part of Figure. Figure Technology Solutions completed its acquisition of Kiavi on September 1, 2026, under a merger agreement announced June 10. Kiavi's disclosures now state that all DSCR and rental loans are originated and funded by Figure Lending LLC as of that date, and Kiavi CEO Arvind Mohan has moved to Figure as Chief Business Officer. The Kiavi brand and platform continue. For a borrower in the middle of a file this mostly shows up as a different entity name on the paperwork, but it is worth knowing before you sign, and it is worth asking your loan officer directly how servicing and future draws are handled post-integration. Our June version predated the close and didn't mention it.

Kiavi lends in 49 states plus DC, not 50. Our June version said "all 50 states." Kiavi's own state page lists 49 states plus Washington DC. Utah is the omission. That is a small error with real consequences if you happen to be buying in Salt Lake City, which is exactly why the state section below exists.

Visio's coverage is narrower than commonly reported. Our June version said Visio covers 48 states, excluding Alaska and Hawaii. Visio's own "Where We Lend" page lists 38 states plus DC and specifically includes Hawaii, while a separate Visio FAQ lists nine states they don't lend in, which implies 41. Those two numbers don't reconcile on their own site, so we're reporting both and telling you to confirm your state directly rather than picking the flattering figure. Visio also excludes Detroit and Flint, Michigan, and Dayton City, Ohio, which is the kind of city-level carve-out no comparison list ever mentions.

The broader picture hasn't changed much. Advertised starting rates across the directory sit roughly between 5.4% and 8% for the strongest borrowers, DSCR floors cluster at 0.75 to 1.0, and 80% LTV remains the practical ceiling on a purchase. What moves week to week is pricing, not structure.

Who Offers DSCR Loans (And Why Banks Mostly Don't)

This trips up a lot of first-time investors, so let's settle it. If you walk into your local branch and ask for a DSCR loan, the person across the desk will probably not know what you mean. That's not incompetence. It's that DSCR loans are business-purpose loans, which sit outside the consumer mortgage rules most retail banks are built around. A conforming lender sells loans to Fannie Mae and Freddie Mac, and neither buys DSCR paper. So the product lives somewhere else.

Four kinds of companies actually make these loans:

• Non-bank private lenders. Kiavi, Lima One Capital, RCN Capital, CoreVest, Easy Street Capital, Anchor Loans, Dominion Financial. These are balance-sheet or securitization-funded lenders built specifically for real estate investors. They usually also do fix-and-flip and bridge lending, which is handy if you're running BRRRR.
• Non-QM mortgage lenders. Angel Oak, Griffin Funding, Deephaven, A&D Mortgage, FundLoans. These are licensed mortgage companies whose whole business is loans that fall outside qualified-mortgage rules. They tend to be more flexible on odd property types and borrower profiles.
• DSCR specialists. Visio Lending, LendingOne, New Silver, Civic. Long-term rental financing is most or all of what they do. Underwriting tends to be predictable, which matters more than people realize.
• Wholesale lenders you reach through a broker. United Wholesale Mortgage, Angel Oak Mortgage Solutions, Deephaven, Mortgage Capital Funding. You can't apply directly. A mortgage broker submits your file. Sometimes the pricing is better than anything you'll find retail, which is the entire argument for using a broker.

On banks and credit unions: some community banks and local credit unions do keep investor loans on their own books, and those portfolio loans can look a lot like a DSCR loan. They're worth a phone call if you have an existing relationship, especially on a smaller loan where the national lenders' minimums get awkward. But they don't advertise it, terms vary wildly branch to branch, and there is no directory of them, so treat that as a supplement to this list rather than a substitute.

The 7 Top DSCR Lenders Compared (September 2026)

*Rates are starting or advertised ranges as of September 2026 and depend on your credit, DSCR, LTV, property type, and points. They change frequently, so confirm the live rate sheet with the lender before you budget. A "from" rate is the best-case advertised number, not what most borrowers get. "Not published" means the lender does not disclose a figure publicly, and we would rather say so than invent one.

Some links on this page, including to Kiavi, RCN Capital, and Easy Street Capital, are affiliate links. If you use them we may earn a commission, at no cost to you. It never affects who makes this list or where they rank, and 21 of the 24 lenders in the directory below are unmonetised. More on how we chose these lenders further down.

Two honest caveats about reading a table like this, because the numbers don't tell the whole story.

The "minimum" credit score and "lowest" DSCR are floors, not the terms you'll actually get there. Hitting a lender's 620 minimum doesn't mean you get their advertised rate. It means you get in the door, usually at a higher rate, a lower LTV, and a bigger down payment. The advertised "from 5.875%" rate generally goes to a borrower with 740-plus credit, a 1.25-plus DSCR, and 25%-plus down. Read the floors as "can I qualify at all," and the best-case figures as "what's possible if everything's strong."

And the lowest rate is not the same as the best lender. A lender that quotes you 6.5% and then drags the file for 45 days, re-trades the terms three days before closing, or can't actually fund is worse than a lender at 6.875% who closes on time, every time. On a time-sensitive deal, certainty of execution is worth more than a quarter point.

Full DSCR Lender Directory (24 Lenders)

Verified September 2026 against each lender's own published program pages, rate sheets, and licensing disclosures. Terms change frequently and several lenders publish different figures on different pages, so confirm anything you plan to budget around. Inclusion is not an endorsement, and we are not a lender, broker, or financial advisor.

A few patterns worth pulling out of that table, because 24 rows is a lot to stare at.

The credit floor spread is wider than people expect. Griffin, Harpoon, and A&D will look at 620. Easy Street, LendingOne, Park Place, and UWM start at 640. Most of the rest want 660. MoFin sits at 700, the highest on this list. If your score is the binding constraint, that single column narrows 24 lenders to about six in one pass.

Entity requirements are not universal. Visio, RCN, and Civic require you to close in an LLC or corporation, full stop. Griffin, Angel Oak, Deephaven, A&D, Harpoon, and UWM will let you close in your personal name. Most of the rest prefer an entity without strictly demanding one. If you don't have an LLC and don't want one, that's a real filter.

Loan size is where the extremes live. Harpoon and UWM go down to $50,000, which matters in cheap Midwest markets where the national minimums of $100,000 or $150,000 exclude perfectly good deals. At the other end, FundLoans reaches $6 million and Griffin $5 million. Most of the field clusters between $75,000 and $3 million.

Almost nobody publishes a rate. Of 24 lenders, a minority post a starting rate anywhere public, and every one of those is a best-case number. That's not evasiveness so much as the nature of the product, where pricing is a grid of your credit, DSCR, LTV, property type, and points. It does mean that comparing "advertised rates" across lenders is close to meaningless. Get two or three real quotes on your actual deal instead.

DSCR Lenders By State: Who Actually Lends Where You're Buying

This is the section I wish had existed when I was financing out of state. Coverage is the most overlooked filter in DSCR lending and the one that wastes the most time, because you can get three days into a conversation with a great lender before anyone mentions they don't lend in your state. So here it is as a table.

The Hard-To-Serve States

Six states get excluded far more often than the rest, usually for licensing or foreclosure-timeline reasons. If you're buying in one of these, start here.

Each Lender's Coverage, Stated Plainly

Two things to take from this. First, "nationwide" in a lender's marketing copy is not a state list. Several lenders here describe themselves as national and then turn out to have a handful of exclusions, or lend in your state for bridge loans but not for DSCR. Second, the exclusions cluster. Alaska, Nevada, the Dakotas, Utah, and Vermont are the recurring gaps, and they're excluded for structural reasons that rarely change, so if you invest there it's worth building a short permanent list rather than re-researching every deal.

If your state isn't on the difficult list above, you have most of these 24 available to you and the state filter simply isn't your binding constraint. Move on to credit, DSCR, and property type, which is what the calculator below is for.

DSCR Calculator: Which Lenders Fit Your Deal

Want the whole directory offline? Download our free DSCR lender comparison sheet with all 24 lenders, their minimums, and their state coverage in one spreadsheet. No email required.

A worked example, because the ratio is easier to feel than to define. Say you're buying a duplex that rents for $2,400 a month. Your principal and interest come to $1,500, taxes are $300, insurance $120, no HOA. That's $1,920 of PITIA against $2,400 of rent, so your DSCR is 1.25. The property throws off 25% more than the debt costs, which puts you in the best pricing tier almost everywhere and gives you your pick of the directory.

Now drop the rent to $1,850 and the ratio falls to 0.96. The rent no longer quite covers the payment. You haven't lost the deal, but your lender list just shrank to the ones with sub-1.0 programs, and you should expect to put more down. That's the whole game in one number, which is why I tell people to run it before they fall in love with a property rather than after.

Our Monthly DSCR Rate Tracker

Nobody else tracking this space publishes a dated history, which is strange, because the single most common complaint I hear about lender comparison pages is that the rates are stale. So we started logging them. Below is what each lender publicly advertised as a starting rate on the dates shown.

June 2026 figures are the advertised rates we recorded and published in our June update of this page. September 2026 figures were recorded on September 11, 2026. "Not tracked" means the lender was not in our comparison set at that time, not that it had no rate. Lenders that do not advertise a starting rate publicly (Angel Oak, RCN, Deephaven, and others) are excluded from this table by necessity. Next update: October 2026.

What the first two data points actually tell you: advertised floors have been broadly stable across the quarter, with Lima One the only meaningful mover. That matches what I'd expect in a period where the Freddie Mac 30-year benchmark has hovered in the mid-6s. Don't read too much into a single quarter. The point of building this table is that in six or twelve months it will show you something a snapshot can't.

How We Built This Directory

Here's the honest version of how most DSCR lender lists get built, so you know how to read ours. A lot of them rank by brand name, which tells you nothing about whether your specific deal funds. Others put the publisher's own lending company at number one, which is exactly what it looks like. We don't lend money, so we have no horse in that race. What we care about is whether a lender will actually close for a real investor, because that's the question our students and our own deals live or die on.

Inclusion criteria for the directory. A lender makes the 24 if it publicly offers a DSCR or equivalent long-term rental loan on US residential investment property, and publishes at least enough detail (a DSCR floor, a credit minimum, an LTV cap, a loan range, or a state list) to be worth listing. We excluded lenders whose "DSCR program" is a lead-generation page with no terms behind it, lenders that have exited the space, and lead aggregators that pass you to someone else without underwriting anything themselves. Brokers are included but labelled, because reaching them requires a different step.

Selection criteria for the top seven. Rate matters, but we weighted closing reliability just as heavily, because a lender who quotes 6.5% and then re-trades the terms three days before closing, or drags a file 45 days and lets it die, is worse than a lender a quarter-point higher who funds on time. On a property with a clock running, certainty of execution beats a slightly lower number. We also weighted breadth of fit: the seven cover meaningfully different investor situations rather than being seven versions of the same lender.

On "not published." You'll see that phrase a lot in the tables above. It's deliberate. Where a lender doesn't disclose a figure, we say so instead of repeating a number some other blog invented. That makes our tables look patchier than competitors' tidy grids. It also makes them accurate, and when you call the lender and the number matches, you'll know which kind of page you were reading.

On affiliate links, stated plainly. Three of the 24 lenders here carry affiliate links: Kiavi, RCN Capital, and Easy Street Capital. If you click through and work with them, we may earn a commission, at no cost to you. That arrangement did not buy anyone a spot and does not change the order. The other 21 lenders in this directory earn us nothing, which is rather the point of publishing a directory instead of a shortlist. I'd rather tell you about the relationship and let you weigh it than pretend it isn't there.

The 7 Top DSCR Lenders, Reviewed

Here's the deeper look at each lender: who it's genuinely the right call for, the real numbers, and where it falls short. No lender here is best at everything, and I'll tell you plainly where each one isn't your answer.

1. Kiavi: Best For Tech-Driven Investors Who Want Speed

Kiavi is where I'd point a newer investor who wants the whole thing to run online without a lot of phone tag. They came out of the old LendingHome and have funded well over $23 billion, so this isn't a small shop. It's institutional scale with an investor-first platform on top. You get a rate quote with no hard credit pull, compare loan scenarios side by side, and close quickly by the standards of this space.

The numbers, as of September 2026: Kiavi advertises DSCR rates starting at 5.875%, up to 80% LTV, a DSCR floor as low as 0.80x, no prepayment penalty after year three, and 30-year fixed plus 5/1 and 7/1 ARM and interest-only structures. Eligible property types are single-family rentals, PUDs, 2 to 4 unit properties, and condos. One quirk worth knowing, in your favour: Kiavi qualifies you on the lower of 110% of appraised market rent or your actual lease, which can support a slightly bigger loan on a strong rental. Cash-out refinance is available after 90 days of ownership, or anytime on a free-and-clear property. They don't publish a minimum credit score, and since there's no hard pull to get a quote, the cheapest way to find out where you stand is simply to run one.

New since our last update: Figure Technology Solutions completed its acquisition of Kiavi on September 1, 2026. Kiavi's disclosures now state that all DSCR and rental loans are originated and funded by Figure Lending LLC as of that date. The Kiavi brand, platform, and technology continue, and former CEO Arvind Mohan has moved to Figure as Chief Business Officer. Practically this means a different entity name on your loan documents. If you're mid-file or planning to be, ask your loan officer directly how servicing is handled after the integration, because that's the detail most likely to shift.

Where Kiavi isn't your answer: they stick to standard residential. No 5-plus units, no mixed-use, no manufactured or non-warrantable condos. If your deal is unusual, look at Angel Oak instead. They also don't lend in Utah, which our June version got wrong. And if you need a sub-0.80 DSCR deal done, Griffin's no-ratio programs or Harpoon's structures go lower. Kiavi is built for people who like a digital process, not a lot of phone coaching.

2. Griffin Funding: Best For Lower Credit Scores And Jumbo Deals

Griffin is the one I'd call first if your credit isn't pristine or your deal is big. They take DSCR loans down to a 620 credit score, lower than most of this list, and qualify ratios all the way down to 0.75, plus they offer no-ratio programs where the property's cash flow isn't used to qualify at all. On the other end, they'll go up to $5 million, which makes them one of the few here built for jumbo and high-value rentals.

As of September 2026, Griffin's own published rates start around 6.1% on fixed DSCR loans and lower on their ARMs, with 30-year fixed, interest-only, and 5/1, 7/1, and 10/1 ARM structures, plus DSCR cash-out and even DSCR home-equity products. They're also a fully licensed national mortgage lender, licensed across most states and federally regulated, which is a real trust point on a high-stakes product. Not every DSCR shop operates at that level. You can also close in your personal name rather than an entity, which several lenders here won't allow.

Where Griffin isn't your answer: that 620 floor gets you in the door, not to the advertised rate. A lower score means a higher rate, more down payment, and tighter terms. They don't publish a clean state list either, so confirm yours before you invest time.

Heads up: the Griffin figures move, because their site updates rates more or less daily. The ranges above are a September 2026 snapshot, not a quote.

3. Angel Oak: Best For Non-QM Borrowers And Unusual Properties

Angel Oak is who I'd look at when the deal doesn't fit a clean box. They're a large, established non-QM lender, and their Investor Cash Flow program is more flexible on property type than most. They'll work with short-term rentals, Airbnb and VRBO properties, non-warrantable condos, and even condotels, which almost nobody else on this list will touch. They place no hard cap on the number of properties you can finance, they allow properties to be held in an LLC, and they'll do purchase, cash-out, rate-term, and delayed financing, so they fit investors actively scaling a portfolio.

On the numbers, as of September 2026: Angel Oak lends from $100,000 up to $3 million, qualifies on the property's cash flow at roughly a 1.0 DSCR, and offers 30-year fixed plus 5/6 and 7/6 ARM structures with an interest-only option. Non-permanent residents are eligible. Rates sit in the broader non-QM range and they don't publish one clean number, so I'm not going to invent one.

Where Angel Oak isn't your answer: three real constraints. Their credit bar is higher at around 680-plus, so they're not the move if your score is the problem (that's Griffin or Easy Street). They require that you already own your primary residence, which quietly disqualifies a lot of renters who invest. And they're a wholesale lender, meaning you can't apply directly and will need a mortgage broker to submit your file. They also don't lend in Alaska, Hawaii, Massachusetts, Nebraska, Nevada, New York, or Vermont. Strong choice for tricky properties, weaker choice for thin credit or a direct-application preference.

4. Visio Lending: Best For Experienced Buy-And-Hold And STR Investors

Visio is a specialist, and that's the point. They've done nothing but long-term rental financing since 2012, making them one of the original DSCR lenders, with more than $4.2 billion originated including over $1.2 billion in vacation rental financing. Scotsman Guide ranked them the number one DSCR loan provider in the US for 2025. If you've got a track record and a clean profile, that consistency is worth a lot, and they're genuinely strong on short-term rentals, which not every lender handles well.

As of September 2026: Visio runs roughly 6.75% to 9.5% on rates depending on profile, a firm 1.0 DSCR floor with no exceptions, a 680 minimum credit score (720-plus for their best pricing), up to 80% LTV, and 30-year fixed plus several ARM options. They typically want at least one rental already owned or managed. Every Visio loan must close in an entity: an LLC, partnership, or corporation, with no nonprofits or trusts permitted.

Correction since our last update: our June version said Visio lends in 48 states, excluding Alaska and Hawaii. That was wrong. Visio's own "Where We Lend" page lists 38 states plus DC, and specifically includes Hawaii. A separate Visio FAQ lists nine excluded states (Alaska, Minnesota, North Dakota, Nebraska, Nevada, Oregon, South Dakota, Utah, and Vermont), which implies 41. Those two figures don't reconcile on their own website, so confirm your state with them directly rather than trusting either number. They also don't lend in Detroit or Flint, Michigan, or in Dayton City, Ohio.

Where Visio isn't your answer: that experience requirement and 680 credit floor make them a poor fit for a true beginner or a thin-credit borrower. The 1.0 DSCR floor is firm, so a marginal-cash-flow deal won't squeak through. And the narrower state coverage means they simply may not be available to you. Great for the seasoned buy-and-hold investor in a covered market, not the on-ramp lender.

5. Lima One Capital: Best For One Lender Across Flips, BRRRR, And Rentals

Lima One is who I'd use if I wanted a single relationship across my whole strategy: flips, ground-up, and long-term rentals under one roof. They've got institutional backing as a wholly-owned subsidiary of MFA Financial (NYSE: MFA), have deployed more than $8 billion, and keep everything in-house, including underwriting, appraisals, construction draws, and servicing. For an investor running the BRRRR play, having the hard money loans for acquisition and the DSCR refinance with the same shop is genuinely convenient, and their Fix-to-Rent program has no seasoning period between the bridge and the rental phase, which is a real advantage on a fast BRRRR.

As of September 2026: their rental program starts around 7% on rate, runs a minimum DSCR of 1.0 with the best pricing and maximum leverage at 1.2 or higher, offers up to 80% LTV on purchases, loan amounts from roughly $75,000 to $2.5 million, and 5, 10, and 30-year options including fixed, interest-only, ARM, and balloon structures. Unusually, they'll underwrite 5 to 8 unit properties under residential DSCR guidelines, which is a gap most of this list leaves open.

Where Lima One isn't your answer: their starting rate runs higher than the leanest lenders here, so a rate-sensitive long-term holder with strong credit might price better at Kiavi or Civic. They also require both a minimum credit score and documented investment experience for rental loans, which they don't publish publicly, so a true first-timer should confirm eligibility before getting attached. And their breadth is most valuable if you're actually using multiple loan types. For a single rental loan, a specialist may serve you just as well.

6. RCN Capital: Best For LLC-Only Investors Wanting A National Direct Lender

RCN is a solid nationwide direct private lender with more than $9.2 billion deployed across 41,500-plus loans, and what stands out is that they lend to the entity, not to you personally. They require an LLC, S-corp, or C-corp on every loan, because these are strictly business-purpose investment loans. For an investor who's already operating in an entity, which I'd generally recommend anyway, that's a feature rather than a hurdle, and it keeps the loan cleanly business-purpose.

As of September 2026: RCN's long-term rental program runs a 660 minimum credit score with a credit-tiered DSCR floor, roughly 1.0 at 680-plus credit, 1.15 at 660-plus, and higher (around 1.2) for short-term and mid-term rentals. They go up to 80% LTV on purchase and 75% on cash-out, with loan amounts from about $100,000 to $3.5 million and 30-year terms. They can close in as few as 10 business days, and they work both directly with investors and through brokers. Rates land in the broader non-QM range and they don't post one figure, so get a live quote.

Where RCN isn't your answer: the entity requirement means there's no closing in your personal name, ever. If you're not set up with an LLC and don't want to be, this isn't your lender, and Griffin or Deephaven will be easier. They also don't lend on rural properties or in Alaska, North Dakota, South Dakota, Vermont, Nevada, or Utah. Their long-term rental program leans toward stronger profiles for the best pricing, so deep-subprime credit will find more room at Griffin. Full details are in our RCN Capital review.

7. Easy Street Capital: Best For Lower Credit, Recent Credit Events, And BRRRR

Easy Street is the flexible one, who I'd reach for when the borrower's story is a little messy. They'll lend with a 640 minimum credit score, and more to the point, they're openly willing to work with borrowers who have recent mortgage late payments, foreclosures, or even bankruptcies, as well as partners borrowing inside an LLC. That tolerance is rare, and it's exactly what an investor recovering from a rough patch needs. Their EasyRent program covers 30-year DSCR rentals including vacation and short-term rentals, and they're notably BRRRR-friendly, with same-day term sheets and fast closings that fit the refinance-after-rehab step.

As of September 2026: Easy Street advertises rental rates starting as low as around 5.75% for the strongest profiles, with the actual rate driven by credit, DSCR, and LTV, and the option to buy the rate down with points. They run up to roughly 80% LTV, offer flexible DSCR options including lower minimums than most of this list, and typical loan amounts run from $75,000 to $2 million. They lend in 45 states plus DC.

Where Easy Street isn't your answer: that headline 5.75% is a best-case number for a strong borrower, and if your credit or DSCR is weak, which is often why you're considering them, expect to pay more. They don't lend in North Dakota, South Dakota, Minnesota, Nevada, or New York, and they don't do rural properties. They're a flexibility play, not necessarily the rock-bottom-rate play for a pristine borrower, who might do as well or better at Kiavi or Civic. See our Easy Street Capital review for more.

The Right DSCR Lender For Your Situation

If Your Credit Score Is Low

Most of this list wants 660 or higher, so your realistic options are Griffin Funding and Harpoon Capital (down to 620), A&D Mortgage (620 via a broker), and Easy Street Capital (640, and openly willing to lend through recent late payments, foreclosures, even past bankruptcies). LendingOne, Park Place, and UWM start at 640. Griffin is the move for a low score on a larger or jumbo deal. Easy Street is the one if your credit's low because of a recent rough patch you're climbing out of. Either way, expect a low score to cost you: a higher rate, more money down, and a tighter LTV, often capped around 65% to 70% at the bottom tier. The floor gets you approved, not the best pricing.

If You Need To Close Fast

Kiavi is built for speed, with an online rate quote that requires no hard credit pull and an automated valuation and underwriting engine. Easy Street issues same-day term sheets. RCN can close in as few as 10 business days, and Park Place Finance advertises same-day approvals with a 3 to 5 day average close on its short-term products. If you're racing a contract deadline, that automation is the difference. The thing nobody tells beginners: the lender is only half of a fast close. Having your entity documents, insurance binder, and a clean appraisal lined up before you apply is what actually keeps the clock from slipping.

If You're Financing A Short-Term Rental (Airbnb Or VRBO)

Angel Oak and Visio Lending are the two that handle short-term rentals best. Angel Oak explicitly works with Airbnb and VRBO properties and will even lend on condotels, and Visio has originated more than $1.2 billion in vacation rental financing specifically. New Silver, Easy Street, A&D, and Harpoon also accept STR income. Two 2026 wrinkles to know going in: most lenders now want documented rental history or a market-rent appraisal rather than taking your projected Airbnb income at face value, so a property with a real booking track record qualifies far more easily than a brand-new STR with optimistic projections. And STR income often carries its own overlay, commonly a 720 credit minimum and an LTV capped around 70% to 75%, even when the lender's standard program allows more.

If You Want Maximum Leverage (Lowest Down Payment)

Most of this list caps at 80% LTV, which means 20% down on a strong purchase, and even hitting 80% generally takes 700-plus credit, a 1.0-plus DSCR, and a clean property. The two exceptions worth knowing: Harpoon Capital advertises up to 85% on acquisitions, meaning 15% down, and New Silver publishes up to 85% LTV on some structures. If your credit or DSCR is weaker, expect the ceiling to drop to 70% to 75%, meaning more cash at closing. Don't assume max leverage. Price both, because sometimes putting 25% down for a better rate funds your next deal faster than stretching to 80%. Our loan cost calculator is useful for running that comparison properly.

If It's A Jumbo Or High-Value Deal Above $1M

FundLoans reaches $6 million, the highest ceiling in this directory, and Griffin Funding goes to $5 million. RCN tops out at $3.5 million and most of the field clusters around $2 million to $3 million. On jumbo loans, expect a higher credit bar (often 720-plus for the best pricing), a second appraisal above $2 million at several lenders, and LTV tiers that tighten as the loan grows. FundLoans' own matrix, for instance, steps down from 80% at $1 million to 60% above $3 million.

If Your DSCR Is Below 1.0 (The Property Barely Cash-Flows)

Griffin Funding qualifies down to 0.75 and offers no-ratio programs where cash flow isn't used to qualify at all. Harpoon Capital publishes no DSCR minimum, including ratios under 0.75. A&D Mortgage and UWM both run no-ratio programs, though A&D requires a 680 score once you're under 1.0. New Silver, Merchants, OfferMarket, and Mortgage Capital Funding all publish 0.75 floors. A sub-1.0 deal almost always means a bigger down payment, six to twelve months of reserves, and a higher rate to offset the thinner coverage. Several lenders also bar sub-1.0 deals on vacant or rural properties. Run the numbers before you fall in love with the property.

If You Don't Have An LLC And Don't Want One

This is a real filter that almost no comparison list flags. Visio, RCN, and Civic require you to close in an entity, with no exceptions. If you'd rather hold the property personally, go to Griffin Funding, Angel Oak, Deephaven, A&D Mortgage, Harpoon, or UWM, all of which permit personal-name vesting. Bear in mind that a personal guarantee is standard either way, so an LLC protects assets without removing your liability. If you're likely to scale, setting the entity up before you apply is still the easier path.

If You're Buying In A Cheap Market (Small Loan Amounts)

Loan minimums quietly exclude a lot of perfectly good Midwest and Rust Belt deals. If your loan is under $100,000, most of this directory is closed to you: LendingOne starts at $85,000, New Silver and LoanFunders at $100,000, MoFin and Mortgage Capital Funding at $150,000, FundLoans at $200,000. The two that go lowest are Harpoon Capital and UWM, both at $50,000, with CoreVest, Lima One, RCN, and Easy Street starting around $75,000. Also watch for the overlay that often accompanies small balances, which is a required DSCR of 1.25 or higher on loans under $150,000.

If You're A First-Time DSCR Investor

Kiavi is the friendliest on-ramp: no experience requirement, a clean digital process, and a rate quote with no hard credit pull. Griffin, Easy Street, and Harpoon all explicitly work with first-time investors. The ones to skip as a beginner are Visio, which typically wants at least one rental already owned or managed, and Lima One, which requires documented investment experience on rental loans. Expect a first-time-investor overlay almost everywhere: LTV commonly capped at 75% rather than 80%, and some lenders require a DSCR above 1.0 and a 700 score for a first deal.

If You're Doing A BRRRR Or Need A No-Seasoning Cash-Out

Seasoning is the rule that decides whether your BRRRR refinance works on schedule. It's the time you must own a property before a lender will use its new appraised value instead of what you paid. Kiavi allows cash-out after 90 days of ownership, or immediately on a free-and-clear property. Civic uses a 90-day seasoning requirement to switch from cost basis to value. Lima One's Fix-to-Rent program has no seasoning period between the bridge loan and the rental takeout, which is the cleanest structure here for a fast BRRRR. Easy Street is built around this step too. If you're planning to refinance out of a rehab, ask about seasoning on the first call, not the last.

If Your State Isn't Covered

Dominion Financial lends in all 50 states plus DC, which makes them the default fallback when your state knocks out everyone else. Kiavi covers 49 plus DC. Beyond that, work the state table further up this page rather than calling lenders at random. And remember that a local community bank or credit union doing portfolio lending may quietly fill the gap in states the national lenders avoid, particularly Alaska, the Dakotas, and Vermont.

If You Want One Lender For Your Whole Strategy

Lima One Capital is the all-in-one, covering flips, ground-up construction, and long-term rentals under one roof, which is ideal if you're running BRRRR and want your bridge loan and your DSCR refinance with the same shop. RCN and CoreVest are similar in breadth, and CoreVest adds a revolving credit line and 5-plus property portfolio loans for investors operating at scale. The convenience is real, but only if you're actually using multiple loan types. For a single rental loan, a specialist serves you just as well. If your acquisition financing is the piece you haven't sorted, our guides to bridge loan lenders and hard money loans for acquisition cover the front half of the BRRRR.

Here's what to actually do with this. Before you call anyone, run the DSCR on your target property using the calculator above. Then check the state table, because a lender that doesn't operate in your market is a dead end no matter how good the terms look. Then pick the two or three lenders that match your specific situation from the scenarios here, pull your credit so you know which tier you're in, and get quotes. Match the lender to the deal, not the other way around, and you've already done the part most investors skip.

What DSCR Lenders Require In 2026

A note before we get into the numbers: this section explains how DSCR qualification generally works for educational purposes. It isn't financial or lending advice. Requirements vary by lender and change over time, so confirm current terms with a licensed lender before relying on them for a deal.

Here's what these lenders are actually checking, and what the numbers mean for a complete beginner. The whole pitch of a DSCR loan is that you don't qualify, the property does. There's no income or employment verification, no tax returns, no debt-to-income ratio. They look at whether the rent covers the payment, plus a few things about you as a backstop. These are the levers.

The DSCR ratio itself. This is the heart of it. DSCR, the debt service coverage ratio, is the property's income divided by its full loan payment (principal, interest, taxes, insurance, and any HOA dues, which lenders shorthand as PITIA). A 1.0 means the rent exactly covers the payment. Above 1.0 means positive cash flow, below 1.0 means the rent falls short. Most lenders in 2026 want a minimum of 1.0, and a 1.25 or higher, meaning the property throws off 25% more than the debt costs, is what unlocks the lowest rates and the most leverage. Several lenders in the directory above will go down to 0.75 or offer no-ratio programs, but a thinner ratio means a bigger down payment and a higher rate to offset the risk. Watch for two overlays that catch people out: loans under $150,000 often require a 1.25 DSCR regardless, and rent-controlled markets sometimes require 1.35.

Your credit score. Even though your income doesn't matter, your credit still does, because it prices the loan. In 2026, minimums range from 620 (Griffin, Harpoon, A&D) to 700 (MoFin), with most of the field at 660. But the minimum just gets you approved. The real pricing tiers look roughly like this: 620 to 679 often caps you at 65% to 70% LTV with a rate a point or two higher, 680 to 699 opens most programs, 700 to 739 is the sweet spot for full 80% LTV and strong rates, and 740-plus gets you premium pricing and rate buydowns. Short-term rental income typically requires 720. Your score is the single biggest lever you actually control.

Your down payment. DSCR loans are commercial-style products, so there's real skin in the game required. There's no 3.5% FHA-style option here. Plan on 20% to 25% down on a purchase, with an 80% LTV maximum standard and 85% available from a small number of lenders for the strongest profiles. Cash-out refinances are more conservative, usually capping around 70% to 75% LTV. And here's the capital-efficiency call most beginners miss: putting 25% down instead of 20% might shave a fraction off your rate, but that extra 5% could be the down payment on another deal. Run both, because sometimes leverage wins and sometimes the rate cut does.

Cash reserves. Most lenders want you to hold a few months of PITIA payments in reserve after closing, commonly six months, though some accept three and a few waive it entirely at a 1.25-plus DSCR. Sub-1.0 deals and foreign national borrowers often face 12 months. LendingOne's grid has run as high as nine months on some programs. This trips up beginners who drain their account at the closing table. You can't show up with exactly the down payment and nothing behind it. Note also that HELOCs generally don't count as reserves.

Seasoning. This one decides whether a BRRRR works on schedule and almost nobody explains it upfront. Seasoning is how long you must have owned the property before the lender will use its current appraised value rather than what you paid. A typical requirement is 90 days, after which you can refinance against the new value including your rehab. Before that, you're capped against your cost basis, which on a successful flip-to-rent is a much smaller number. A handful of programs, including Lima One's Fix-to-Rent, offer no seasoning between the bridge and the rental takeout. Ask about seasoning on your first call.

The property type. DSCR loans are for income-producing residential investment property, not your own home. You can't use one on an owner-occupied house. The bread-and-butter eligible types are single-family homes, 2 to 4 unit properties, warrantable condos, townhomes, and PUDs. Things like manufactured homes, non-warrantable condos, condotels, mixed-use, rural properties, and 5-plus-unit buildings are where lenders diverge sharply. Angel Oak and Deephaven flex on the unusual stuff, Lima One will do 5 to 8 units under residential guidelines, and RCN, Easy Street, and Civic all decline rural outright. Confirm your property type qualifies before you fall for the deal.

An LLC, in most cases. You don't strictly need an entity, but most DSCR lenders prefer one, and Visio, RCN, and Civic require it, since these are business-purpose loans. Closing in an entity is common, often gets you better treatment, and is something I'd set up before you apply rather than scrambling mid-deal. A personal guarantee from the principal is still typical, so the entity protects your assets without letting you off the hook entirely.

Prepayment penalties. Worth knowing because it's the term people regret most. Most DSCR loans carry a prepayment penalty for the first three to five years, commonly a step-down structure like 3/2/1 or 5/4/3/2/1. Kiavi publishes no prepayment penalty after year three. LendingOne offers penalty periods from zero to five years. If you think you might sell or refinance inside five years, price the penalty into the decision, because a slightly higher rate with a shorter penalty often beats the reverse.

For perspective on rates: as of September 2026, DSCR loans generally run roughly 6% to 8%-plus for solid borrowers, typically a point or two above a conventional mortgage. Your exact rate moves with your credit, DSCR, LTV, property type, and points, and rate sheets change weekly, so treat any number you read, including mine, as a starting reference and confirm the live quote.

What Are DSCR Loans?

If you're new to this, here's the whole idea in one breath. A traditional mortgage qualifies you: your job, your tax returns, your debt-to-income ratio. That's a wall for a lot of investors, because smart tax planning often makes you look broke on paper. A DSCR loan knocks that wall down. It qualifies the property. Does the rent cover the payment? If yes, you're in business. No income verification, no employment check, no tax returns, and you can hold the property in an LLC. That's why it's become the go-to tool for investors scaling a rental portfolio past the limits of conventional lending.

The trade-off is that you pay a bit more for that freedom. DSCR rates typically run a point or two above conventional, you'll need more down, and you'll usually accept a prepayment penalty. For most investors that's a fair price for being able to qualify on the deal and do it again and again without a lender capping how many properties you can own.

Types Of DSCR Loans

The product comes in a few repayment structures, and which one fits depends on your strategy:

• Fixed-rate: the rate is locked for the full term, usually 30 years. Predictable payment, easiest to budget around. The default for most long-term holders.
• Adjustable-rate (ARM): the rate is fixed for an initial stretch (a 5/6, 7/6, or 10/6, say) then adjusts with the market. Lower starting rate, but real risk if rates climb. Fits investors who plan to sell or refinance before the adjustment.
• Interest-only: you pay only interest for an opening period, often up to 10 years, then principal kicks in. Lower early payments free up cash for other deals, and because the payment is smaller, interest-only can actually improve your qualifying DSCR. The catch is that you're not building equity during that window.
• Balloon: smaller payments for a set period, then one large lump-sum payment at the end. Used by investors who plan to refinance or sell before the balloon comes due. Higher risk if that exit doesn't materialise on schedule.

What You Can Buy With A DSCR Loan

A DSCR loan is for income-producing investment property, never an owner-occupied home, and generally not raw speculative construction. The eligible types you'll see across most lenders:

• Single-family rental homes
• 2 to 4 unit properties
• Warrantable condos, townhomes, and PUDs
• Some lenders extend to small multifamily (roughly 5 to 8 units at Lima One and New Silver), short-term rentals, non-warrantable condos, and condotels. This is where lenders diverge most, so confirm before you commit

The property has to be a real, income-generating asset. If you're eyeing something unusual, whether manufactured, mixed-use, rural, or 5-plus units, check that your specific lender allows it, because many draw the line at standard residential.

How To Vet A DSCR Lender In 10 Minutes

Once you've shortlisted two or three from the directory, this is the call. Ask these seven questions in this order and you'll disqualify the wrong lenders before you've invested any real time.

1. Do you lend in my state, on my property type? Ask both together. Some lenders are licensed in a state for bridge loans but not DSCR, and city-level carve-outs exist.
2. What's your DSCR floor at my credit score? The published floor and the floor for you are often different numbers, because DSCR minimums are usually tiered by FICO.
3. What's my maximum LTV at that ratio and score? This tells you your actual cash to close, which is the number that decides whether you can do the deal.
4. How many months of reserves, and what counts? Confirm whether retirement accounts or gift funds qualify, because assumptions here sink closings.
5. What's the seasoning requirement for cash-out? Critical if you're refinancing after a rehab. Get it in writing.
6. What's the prepayment penalty structure, and can I buy it down? Ask what a shorter penalty costs in rate. Sometimes it's cheap.
7. Who actually funds and services this loan? Increasingly relevant after consolidation in this space. Know whose name ends up on your paperwork.

Two red flags worth acting on. If a lender quotes you a rate before knowing your credit tier, DSCR, and LTV, that number is marketing rather than a quote. And if they won't put the terms in a written term sheet, walk. Every reputable lender in this directory will issue one, several within 24 hours.

DSCR Lenders FAQs

Final Thoughts: Choosing The Right DSCR Lender

The right DSCR lender isn't a single name on a list. It's the one whose terms fit the deal in front of you and who actually lends where you're buying. That's why this page leads with a directory and a state table rather than a ranking. Twenty-four lenders offer these loans. Perhaps six of them are genuinely available for your specific combination of state, credit tier, property type, and loan size, and your job is to find those six rather than to find "the best."

Here's what I'd actually hold onto. The lowest advertised rate is the wrong thing to chase, because a lender who funds reliably and closes on time is worth more than a quarter-point you'll lose anyway when the deal falls apart at the closing table. The "minimum" credit and DSCR numbers get you in the door, not to the best pricing. Check your state before you check anything else, because it's the only filter that can take you from twenty-four options to zero in one step. And the single number that decides everything is your property's DSCR, so run that first.

DSCR lending exists because the property is supposed to carry itself. If a deal only works at a perfect rate with maximum leverage and a lender bending every rule, it's probably not the deal. It's the wrong property. The investors who scale aren't the ones who found a magic lender. They're the ones who ran the numbers honestly, picked the lender that fit, and did it again on the next one.

So here's your next move. Take the property you're looking at and run it through the calculator above to find your DSCR. Check the state table to see who can actually lend to you. Pull your credit so you know which pricing tier you're in. Then shortlist two or three lenders that match your situation and work the seven vetting questions on your first call. That's it. You don't need a perfect lender. You need the right one for this deal, and now you know how to find it.

About The Author

Alex Martinez

Founder & CEO, Real Estate Skills

Alex Martinez is the Founder and CEO of Real Estate Skills. With more than a decade of investing experience and 33+ residential properties acquired, he has personally wholesaled and flipped houses across the country and used financing tools like DSCR loans to build and scale rental portfolios. Through Real Estate Skills, Alex and his team have helped thousands of students learn how to find deals, finance them, and close profitable real estate transactions.

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Real Estate Skills is not a lender, mortgage broker, or financial advisor, and the information in this article is provided for educational purposes only. It does not constitute financial, lending, tax, or legal advice. DSCR loan rates, terms, qualification requirements, and state availability vary by lender, change frequently, and were current as of September 2026 at the time of writing. Always confirm current figures directly with the lender. Inclusion in this directory is not an endorsement, and the DSCR calculator on this page is an educational estimate rather than a preapproval or an offer of credit. Real estate investing carries risk, and past results do not guarantee future outcomes. Always consult a licensed lender and your own financial and tax advisors before entering into any loan or transaction.