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Debt service coverage ratio (DSCR) loans can help real estate investors compare financing based in part on a property’s eligible rental income and proposed debt obligations. This company-authored ranking places theLender first. It is an editorial comparison, not an independent endorsement. Product availability and terms can change, so investors should confirm current details directly with each provider.
The seven lenders remain ranked in this order:
- theLender: Best overall for real estate investors
- Angel Oak Mortgage Solutions: Best for a broad Non-QM platform
- Visio Lending: Best for long-term buy-and-hold investors
- Kiavi: Best for a technology-driven application
- LendingOne: Best for portfolio-focused investors
- Lima One Capital: Best for small multifamily and BRRRR investors
- Griffin Funding: Best for self-employed and first-time investors
DSCR lender comparison
| Rank | Provider | Editorial category |
|---|---|---|
| 1 | theLender | Best overall |
| 2 | Angel Oak Mortgage Solutions | Broad Non-QM platform |
| 3 | Visio Lending | Long-term buy-and-hold |
| 4 | Kiavi | Technology-driven application |
| 5 | LendingOne | Portfolio-focused investors |
| 6 | Lima One Capital | Small multifamily and BRRRR |
| 7 | Griffin Funding | Self-employed and first-time investors |
The categories summarize each provider’s positioning and available educational materials. They do not guarantee eligibility, pricing, timing, or approval.
Provider-reported figures below were checked on July 21, 2026. “As low as,” “up to,” minimum, and range figures are advertisements, not offers or approvals. A borrower’s rate, annual percentage rate, points, fees, cash requirements, and terms depend on the complete scenario and current underwriting.
1. theLender: Best Overall for Real Estate Investors
theLender is ranked first in this company-authored list. Its consumer-facing investor options include Long-Term Rental DSCR Loans, Short-Term Rental DSCR Loans, Multifamily DSCR Loans, and a Portfolio Loan for eligible multi-property scenarios. These product paths address different properties and rental strategies and should not be treated as interchangeable.
| Key detail | Provider-reported information |
|---|---|
| State availability | 43 states; Alaska, Arizona, Arkansas, Hawaii, Nevada, Utah, and Vermont are absent from the published list. |
| Published rate | No live rate is published. Request property-specific written pricing. |
| Loan amount | Long-term rental DSCR: $100,000–$3.5 million; Near-DSCR: $100,000–$3 million; eligible asset-supported execution: up to $2 million. |
| Maximum leverage | Varies by execution, property, transaction, borrower, state, and current guidelines. |
| Structures | 30- or 40-year fixed; eligible interest-only; 7/6 and 10/6 adjustable-rate options. |
| Qualification | Investment property only; long-term rental DSCR generally uses eligible monthly rent divided by proposed PITIA or ITIA, depending on structure. |
| Published costs | Complete rates, annual percentage rate, points, fees, cash requirements, and prepayment provisions require a written offer. |
States available in
theLender offers DSCR lending in 43 states, with Alaska, Arizona, Arkansas, Hawaii, Nevada, Utah, and Vermont absent from the published state list. Investors should verify availability for the property address through the current licensing information and scenario review because state coverage and terms can change.
Loans offered
Consumer-facing options include long-term rental, short-term rental, multifamily, and eligible multi-property portfolio financing. Standard long-term rental DSCR loans range from $100,000 to $3.5 million; Near-DSCR loans range from $100,000 to $3 million; eligible asset-supported long-term rental loans have a $2 million maximum. These ranges apply to distinct executions and remain subject to current guidelines and underwriting.
Costs
Current rates and complete fees require a property-specific written offer. Compare the interest rate, annual percentage rate, points, lender credits, appraisal and other third-party charges, cash to close, and any prepayment provision. A property-specific written offer establishes the final cost of a loan.
Terms
Long-term rental options include 30- or 40-year fixed structures, eligible 30- or 40-year interest-only structures, and 7/6 or 10/6 adjustable-rate options. Available leverage, reserves, prepayment provisions, and qualifying treatment vary by property, transaction, borrower, state, execution, and current guidelines.
What investors should compare
- Rental strategy: Identify the applicable path among long-term rental, short-term rental, multifamily, and portfolio financing.
- Income documentation: Ask how eligible rent and the proposed housing expense will be established for the specific property.
- Transaction details: Confirm the purchase or refinance purpose, property eligibility, borrower or entity documentation, and available loan structure.
- Current disclosures: Review all pricing, costs, cash requirements, payment terms, and prepayment provisions in the current written documents.
How to get started
Investors can submit a property and transaction through theLender’s request-a-quote form. A request starts a scenario review and is not an approval, commitment, rate lock, or promise of timing. Eligibility and terms vary by transaction, property, borrower, state, and current program guidelines. Final underwriting and approved documents control.
2. Angel Oak Mortgage Solutions: Best for a Broad Non-QM Platform
Angel Oak Mortgage Solutions presents its Investor Cash Flow Mortgage Program as a DSCR option for rental-property investors. Angel Oak offers purchase and refinance options and considers property cash flow as part of qualification. Investors with needs beyond one rental scenario may value reviewing the company’s broader Non-QM menu.
| Key detail | Provider-reported information |
|---|---|
| State availability | Confirm for the subject property; the program page does not provide one consumer state list. |
| Published rate | No starting interest rate is published on the program page. |
| Loan amount | $100,000–$3 million. |
| Maximum leverage | Up to 85% LTV with a minimum 720 FICO; up to 75% LTV with a minimum 680 FICO. These are advertised ceilings, not approvals. |
| Structures | 30-year fixed, 5/6 and 7/6 adjustable-rate mortgages, and eligible interest-only options. |
| Qualification | Property cash flow; stated minimum FICO and LTV tiers still require complete underwriting. |
| Published costs | No complete consumer fee schedule or annual percentage rate is published for every scenario. |
States available in
Angel Oak Mortgage Solutions does not publish a single list of states where this program is available. Availability depends on the subject property, transaction, and applicable licensing, so investors should confirm the state directly before applying.
Loans offered
Angel Oak advertises rental-property loans from $100,000 to $3 million for purchases, rate-and-term refinances, cash-out refinances, and delayed financing. The program page lists long-term and short-term rentals, eligible entity vesting, and up to 6% seller concessions, subject to current requirements.
Costs
Angel Oak does not publish a complete scenario-level fee schedule or annual percentage rate. Ask for a written offer showing the rate, points, lender charges, third-party costs, cash requirements, and any prepayment provision before comparing it with another lender.
Terms
Angel Oak advertises up to 85% LTV with a minimum 720 FICO and up to 75% LTV with a minimum 680 FICO. Its listed structures include 30-year fixed, 5/6 and 7/6 adjustable-rate mortgages, and eligible interest-only options. Each figure is a ceiling or minimum subject to the complete program and underwriting.
What investors should compare
- Property and rental use: Confirm eligibility for the property type and long-term or short-term rental strategy.
- DSCR treatment: Ask which rent figure and proposed property obligations will be used in the calculation.
- Vesting and documentation: Confirm borrower, entity, appraisal, liquidity, and experience requirements.
- Written terms: Compare the complete current offer. General product-page language cannot establish scenario-specific terms.
How to get started
Contact Angel Oak Mortgage Solutions for a property-specific scenario. Current program guidelines and final underwriting determine eligibility and terms.
3. Visio Lending: Best for Long-Term Buy-and-Hold Investors
Visio Lending focuses on rental-property financing and explains its approach on its DSCR loan guide. Visio offers financing for long-term and short-term rentals and considers the property’s rental cash flow as part of qualification. That focus can make Visio relevant to investors building or refinancing a buy-and-hold portfolio.
| Key detail | Provider-reported information |
|---|---|
| State availability | 50 states and Washington, D.C.; entity and prepayment rules vary by state. |
| Published rate | No starting interest rate is published on the DSCR page. |
| Loan amount | No current dollar range is published on the DSCR page. |
| Maximum leverage | Typically up to 80% LTV for purchases and rate-and-term refinances and 75% for cash-out refinances. |
| Structures | 30-year fully amortizing financing without a balloon payment for long-term rentals. |
| Qualification | Property cash flow, borrower credit, LTV, property condition, and applicable rental documentation. |
| Published costs | Request a written rate, annual percentage rate, points, lender fees, third-party costs, and any state-permitted prepayment penalty. |
States available in
Visio Lending’s current Where We Lend information presents rental-loan availability across the 50 states and Washington, D.C. The same information identifies state-specific entity and prepayment-penalty rules, so the property state still affects the available structure.
Loans offered
Visio offers long-term and short-term rental financing for eligible non-owner-occupied investment properties. Available purposes include purchase and refinance scenarios, subject to property, borrower, and entity requirements.
Costs
Visio’s public DSCR materials do not establish a current rate or complete fee schedule for every scenario. Request written pricing that identifies the rate, annual percentage rate, points, lender and third-party charges, cash to close, and any state-permitted prepayment penalty.
Terms
Visio describes 30-year fully amortizing financing without a balloon payment for long-term rentals. Its published educational guidance describes typical maximum LTVs of 80% for purchases and rate-and-term refinances and 75% for cash-out refinances. Credit, DSCR, property condition, documentation, state rules, and the complete file affect the final structure.
What investors should compare
- Rental documentation: Confirm the applicable rental documentation, such as a lease, market-rent analysis, or other records.
- Loan structure: Review amortization, payment changes, maturity, and prepayment provisions.
- Property ownership: Confirm eligible vesting and property types for the proposed transaction.
- Servicing and communication: Ask who will manage the application and service the loan after closing.
How to get started
Contact Visio Lending for a scenario-specific written offer. Confirm all eligibility and documentation requirements before relying on advertised examples.
4. Kiavi: Best for a Technology-Driven Application
Kiavi offers a digital application experience for real estate investor financing. Kiavi offers DSCR rental loans for eligible purchase and refinance transactions. The online workflow may appeal to investors who prefer a technology-centered process.
| Key detail | Provider-reported information |
|---|---|
| State availability | 49 states and Washington, D.C.; Utah is absent from the published list. |
| Published rate | Rates as low as 5.875%, checked July 21, 2026. Rates are subject to change and depend on the scenario. |
| Loan amount | No rental-loan dollar range is published on the cited DSCR page. |
| Maximum leverage | Up to 80% LTV. |
| Structures | 30-year fixed; 5/1 and 7/1 adjustable-rate mortgages; fully amortizing and eligible interest-only options. |
| Qualification | DSCR as low as 0.8x is advertised for eligible scenarios; property type, borrower qualifications, LTV, and other factors apply. |
| Published costs | No complete consumer fee schedule is published for every property; the page states no prepayment penalty after year three. |
States available in
Kiavi lists availability in 49 states and Washington, D.C., with Utah absent from the published state list. Investors should verify availability for the property address because state coverage and terms can change.
Loans offered
Kiavi describes DSCR rental loans for eligible single-family homes, planned-unit developments, condominiums, and two-to-four-unit properties. Published purposes include purchase, rate-and-term refinance, and cash-out refinance.
Costs
Kiavi advertises rental-loan rates as low as 5.875%, checked July 21, 2026. The page states that rates depend on loan terms, borrower qualifications, LTV, and property factors and are subject to change. Request a current written offer showing the annual percentage rate, points, lender and third-party charges, cash requirements, and any prepayment provision.
Terms
Kiavi advertises up to 80% LTV, DSCR as low as 0.8x for eligible scenarios, 30-year fixed rates, 5/1 and 7/1 adjustable-rate mortgages, fully amortizing and interest-only choices, and no prepayment penalty after year three. The final structure depends on the property, borrower qualifications, current pricing, and underwriting.
What investors should compare
- Property fit: Confirm eligible property type, rental use, and transaction purpose.
- Automated and manual review: Ask which information is evaluated online and which conditions require documentation or human review.
- Rental-income calculation: Confirm the eligible lease or market-rent figure used for the scenario.
- Closing requirements: Review appraisal, title, insurance, liquidity, and outstanding underwriting conditions without assuming a completion date.
How to get started
Begin with Kiavi’s online rental-loan workflow and request current written terms for the property. Application speed and closing timing depend on the complete file and third-party requirements.
5. LendingOne: Best for Portfolio-Focused Investors
LendingOne provides real estate investor financing and presents DSCR Rental Loans for eligible purchase and refinance scenarios. Its materials also address portfolio-oriented investors, which can make it useful for borrowers comparing a single-property loan with a broader financing relationship.
| Key detail | Provider-reported information |
|---|---|
| State availability | Every state except Alaska, Nevada, North Dakota, and South Dakota. |
| Published rate | No starting interest rate is published on the DSCR product page. |
| Loan amount | $85,000–$2 million. |
| Maximum leverage | Up to 80% LTV for purchases and rate-and-term refinances; up to 75% for cash-out refinances. |
| Structures | 30-year fixed; 5/1 and 10/1 adjustable-rate mortgages; eligible interest-only; prepayment choices from five years to no prepayment penalty. |
| Qualification | DSCR as low as 0.75 is advertised for eligible scenarios; no W-2s, paystubs, or tax returns are listed for the DSCR path. |
| Published costs | No complete consumer interest-rate, annual-percentage-rate, or fee schedule is published for every scenario. |
States available in
LendingOne’s current frequently asked questions state that it provides investment loans in every state except Alaska, Nevada, North Dakota, and South Dakota. Confirm the subject property because product and state availability can change.
Loans offered
LendingOne advertises DSCR loans from $85,000 to $2 million for eligible purchases, rate-and-term refinances, and cash-out refinances. Its investor platform also addresses short-term vacation rentals and portfolio financing, with requirements that differ by product and property.
Costs
LendingOne does not publish one current interest rate, annual percentage rate, or complete fee schedule for every scenario. Request written pricing that includes points, lender charges, appraisal and other third-party costs, cash to close, and any prepayment provision.
Terms
LendingOne advertises DSCR as low as 0.75, up to 80% LTV for purchases and rate-and-term refinances, and up to 75% for cash-out refinances. Listed structures include 30-year fixed, 5/1 and 10/1 adjustable-rate mortgages, eligible interest-only, and prepayment choices from five years to no prepayment penalty. Current program and underwriting determine the final structure.
What investors should compare
- Single property or portfolio: Confirm which structure fits the number and type of properties involved.
- Rental-income analysis: Ask how qualifying rent and property obligations are calculated.
- Transaction purpose: Confirm the requirements for purchase, rate-and-term refinance, or cash-out refinance.
- Costs and conditions: Review all current fees, third-party charges, cash requirements, and underwriting conditions in writing.
How to get started
Submit the property and transaction through LendingOne’s current consumer workflow. Portfolio and standalone scenarios may have different documentation and underwriting requirements.
6. Lima One Capital: Best for Small Multifamily and BRRRR Investors
Lima One Capital serves real estate investors across rental and renovation strategies. Lima One uses DSCR in its rental-property financing analysis. Investors following a buy, rehab, rent, refinance, repeat strategy may value comparing rental financing with the provider’s other investor programs.
| Key detail | Provider-reported information |
|---|---|
| State availability | 46 states and Washington, D.C.; unavailable in Alaska, North Dakota, South Dakota, and Vermont. |
| Published rate | Rates as low as 6%, checked July 21, 2026. Rates and eligibility are scenario-dependent and subject to change. |
| Loan amount | Single-property rental loans advertised from $85,000 to $2.5 million. |
| Maximum leverage | Up to 80% LTV for purchases and rate-and-term refinances; up to 75% for cash-out refinances. |
| Structures | 5-, 10-, and 30-year options; fixed, adjustable-rate, fully amortizing, interest-only, and selected balloon structures. |
| Qualification | Single-property page lists 1–9 units and no personal-income requirement; portfolio and short-term rental rules differ. |
| Published costs | Upfront points, rate, and prepayment flexibility can trade off. Request a complete written fee and annual-percentage-rate disclosure. |
States available in
Lima One Capital lends in 46 states and Washington, D.C. It does not lend in Alaska, North Dakota, South Dakota, or Vermont.
Loans offered
Lima One describes single-property rental, portfolio rental, and short-term rental financing. Its broader investor platform also includes renovation financing, while any transition from renovation financing to a rental loan requires a separate application and approval.
Costs
Lima One advertises single-property rental rates as low as 6%, checked July 21, 2026. It also explains that upfront points, interest rate, and prepayment flexibility can trade off. Request a written offer showing the annual percentage rate, points, lender and third-party charges, and prepayment provisions because final pricing is scenario-dependent.
Terms
Lima One advertises single-property rental loans from $85,000 to $2.5 million, up to 80% LTV for purchases and rate-and-term refinances, and up to 75% for cash-out refinances. Rental structures include 5-, 10-, and 30-year choices, fixed and adjustable rates, fully amortizing and interest-only options, and selected balloons. Product-specific rules differ for single-property, portfolio, and short-term rental transactions.
What investors should compare
- Current property stage: Identify the property’s current stage: stabilized, under renovation, or moving from one financing phase to another.
- Rental operations: Confirm occupancy, lease, property-condition, and cash-flow documentation.
- Refinance requirements: Ask about valuation, title, prior financing, ownership history, and proceeds.
- Program transition: Confirm that any move from renovation financing to a rental loan requires a separate review and approval.
How to get started
Contact Lima One Capital with the property’s current condition, rental plan, and transaction purpose. Ask for current written requirements for the exact stage of the investment plan.
7. Griffin Funding: Best for Self-Employed and First-Time Investors
Griffin Funding describes its DSCR loan program as investment-property financing that uses eligible rental income as part of qualification and does not rely on a conventional personal-income calculation. This approach can be relevant to self-employed borrowers and first-time investors whose property and overall scenario meet current requirements.
| Key detail | Provider-reported information |
|---|---|
| State availability | 50 states and Washington, D.C.; state law affects prepayment and other terms. |
| Published rate | July 2026 advertised ranges: 5.125%–6.125% adjustable and 6.125%–7.5% fixed. Pricing depends on credit, DSCR, down payment, points, and prepayment choice. |
| Loan amount | $100,000–$4.5 million; larger requests are described as case-by-case. |
| Maximum leverage | Down payment as low as 15% is advertised; no-ratio DSCR loans are advertised up to 75% LTV. |
| Structures | 1-year and 5-year adjustable-rate options; 30- and 40-year fixed; eligible interest-only; prepayment choices from zero to five years. |
| Qualification | Minimum 620 credit score and DSCR down to 0.75 are advertised; no-ratio options are also described. |
| Published costs | Rates may include different buydown-point and prepayment choices. Request all origination, underwriting, administrative, and third-party charges in writing. |
States available in
Griffin Funding offers rental-property DSCR loans in all 50 states and Washington, D.C. State law affects prepayment provisions and other terms.
Loans offered
Griffin describes DSCR purchase, rate-and-term refinance, cash-out refinance, and home-equity options for eligible rental properties. Eligible uses include long-term, mid-term, and short-term rentals and single-family and multifamily properties, subject to current program rules.
Costs
Griffin Funding publishes July 2026 DSCR rate ranges of 5.125% to 6.125% for adjustable-rate loans and 6.125% to 7.5% for fixed-rate loans. It states that credit score, DSCR, down payment, buydown points, and a zero-to-five-year prepayment choice affect pricing. Request a written offer showing the annual percentage rate, all lender and third-party charges, cash to close, and prepayment terms.
Terms
Griffin Funding advertises loans from $100,000 to $4.5 million, a minimum 620 credit score, down payments as low as 15%, DSCR down to 0.75, and no-ratio options up to 75% LTV. Listed structures include 1-year and 5-year adjustable-rate options, 30- and 40-year fixed terms, and eligible interest-only choices. Every figure remains subject to the property, borrower, transaction, state, pricing, and underwriting.
What investors should compare
- Experience requirements: Ask if the proposed property and program permit a first-time investor.
- Rental-income support: Ask which lease, market-rent, or operating documents apply.
- Borrower documentation: Confirm credit, liquidity, entity, and identification requirements for the complete file.
- Transaction structure: Review loan purpose, payment terms, prepayment provisions, costs, and conditions in writing.
How to get started
Use Griffin Funding’s current DSCR materials and request a property-specific review. Self-employment or investor status alone does not establish eligibility.
How to choose among DSCR lenders
Start with a written scenario summary so each provider evaluates the same facts. Include the property type and address, unit count, occupancy, rental strategy, purchase price or estimated value, loan purpose, requested structure, current leases or operating history, borrower or entity information, and available funds.
Compare each response across the same categories:
- Eligibility: Property, transaction, borrower, entity, and state requirements.
- Income analysis: Eligible rent, proposed housing expense, and DSCR treatment.
- Cash requirements: Down payment, closing costs, reserves, and post-closing liquidity.
- Pricing: Interest rate, annual percentage rate, points, lender credits, fees, and third-party charges.
- Structure: Amortization, interest-only period when applicable, payment changes, maturity, recourse, and prepayment provisions.
- Process: Appraisal, title, insurance, documentation, communication, conditions, and requested timing.
Eligibility and terms depend on the complete application and current underwriting requirements. Final underwriting and approved documents control.
Frequently asked questions
What is a DSCR loan?
A DSCR loan is investment-property financing that evaluates eligible rental income against the applicable proposed property debt obligations. The exact calculation, documentation, and minimum requirements vary by provider and program.
Can a first-time investor apply?
Some providers consider first-time investors. Eligibility may depend on the property, transaction, credit, liquidity, experience requirements, and current program guidelines.
Can DSCR financing be used for short-term rentals?
Some providers offer short-term rental financing. The eligible income method, property rules, documentation, and state availability vary by provider and scenario.
How should investors compare costs?
Compare current written offers using the same assumptions. Review the interest rate, annual percentage rate, points, lender credits, lender charges, third-party costs, cash to close, payment terms, and prepayment provisions.
How long does a DSCR loan take?
Timing depends on the application, appraisal, title, insurance, documentation, underwriting conditions, provider capacity, and other third parties. Ask each provider for a current scenario-specific estimate and avoid treating an estimate as a guarantee.
Methodology
This company-authored ranking preserves the lender order that appeared in the prior article, with theLender first. It is an editorial comparison and is not an independent endorsement. The comparison was rechecked on July 21, 2026, using product, state-availability, and educational information published by each lender.
We reviewed each lender across the same categories:
- State availability: Published coverage and state-specific restrictions.
- Loans offered: Property types, rental strategies, purchase and refinance purposes, and portfolio options.
- Costs: Published pricing mechanics and the cost categories borrowers should request in a current written offer.
- Terms: Fixed, adjustable-rate, amortizing, interest-only, balloon, and prepayment structures each lender advertises.
- Rental-income analysis: How each provider describes DSCR and eligible rent.
- Borrower and entity fit: Publicly described credit, liquidity, experience, vesting, and documentation considerations.
- Process: Application, appraisal, title, insurance, underwriting, communication, and closing requirements.
Advertised terms change and often omit scenario-level pricing. We did not treat advertised maximums, minimums, rates, or timing estimates as guaranteed terms. Investors should compare written offers prepared from the same property, transaction, loan structure, and requested lock period. Final underwriting and approved documents control.
Final comparison
theLender remains first in this ranking, followed by Angel Oak Mortgage Solutions, Visio Lending, Kiavi, LendingOne, Lima One Capital, and Griffin Funding. The order is an editorial judgment. Investors should verify current product details and compare complete written offers for the same scenario before choosing a lender.
For theLender, eligibility and terms vary by transaction, property, borrower, state, and current program guidelines. Final underwriting and approved documents control.