Comparing DSCR lenders by Googling each one individually is a multi-hour exercise that ends with a spreadsheet you will never update. This matrix puts the numbers side by side so you can sort by the criteria that matter to your deal, filter for your state, and narrow the field in two minutes instead of two days.
How to read this matrix
Each row is a lender. Each column is a criterion that determines whether your deal qualifies and at what terms. Here is what the key columns mean in practice:
- Min DSCR: The lowest Debt Service Coverage Ratio the lender will accept. A lender showing 0.75 will finance properties that lose money monthly; one showing 1.25 requires a healthy income cushion. Lower is more flexible, but comes with higher rates and down payments.
- Min FICO: The credit score floor. Below this number, you are not getting through the door regardless of the property. The breakpoints that matter: 620 (absolute floor), 660 (mainstream access), 680 (sweet spot), 740 (best pricing).
- Max LTV Purchase / Cash-Out: How much the lender will lend relative to the property value. Cash-out LTV is almost always lower than purchase LTV. The gap between 70% and 80% on a $400,000 property is $40,000 in available leverage.
- STR:Whether the lender accepts short-term rental income (Airbnb, VRBO). A "Yes" means they have a program; it does not mean the terms are identical to long-term rentals. Expect lower LTV caps and different income verification.
- Foreign Nat.: Whether the lender has a program for non-US citizens. These programs typically come with a 5-10% LTV haircut and higher reserves.
What the matrix cannot tell you
Three things that matter enormously but are not in this table:
- Actual rates. DSCR rates change weekly and depend on your specific profile (FICO, LTV, DSCR, property type, state). The only way to get a real rate is to get a quote. This table tells you which lenders to call; the quotes tell you which to choose.
- Speed and reliability. A lender with great on-paper terms that takes 60 days to close or falls apart at the appraisal stage is not actually a great lender. Ask other investors in your market, BiggerPockets forums, and your broker for experience-based recommendations.
- Exceptions and overlays. Most lenders have exception programs for strong borrowers. A lender showing a 1.0 min DSCR might go to 0.75 for a borrower with a 760 FICO and 12 months reserves. The matrix shows the published guidelines, not the exception desk.
The three lender archetypes
Not all DSCR lenders are built the same. They roughly fall into three categories, and knowing which type you are dealing with helps you calibrate expectations:
| Type | Characteristics | Examples in matrix |
|---|---|---|
| Large non-QM securitizers | Broad product lines, competitive rates, structured processes. They securitize loans into bonds, so they are strict on guidelines. Fast for conforming deals, slow for exceptions. | Angel Oak, CoreVest, Visio Lending |
| Tech-forward lenders | Online applications, fast closings (10-15 days), automated underwriting. Great for straightforward deals. May have less flexibility on edge cases. | Kiavi, New Silver |
| Niche specialists | Focus on a specific segment: STR, foreign nationals, low-FICO, or high-balance. They know their niche deeply and may offer better terms within it, but have a narrower product range. | Easy Street Capital (STR), A&D Mortgage (FN), Griffin Funding (wide range) |
How to use this table in practice
- Filter first. Set your state, check STR or foreign national if applicable. This eliminates lenders that cannot serve you regardless of the numbers.
- Sort by your binding constraint. If your FICO is 650, sort by Min FICO to see who will take you. If your deal has a thin DSCR, sort by Min DSCR to find the most flexible lenders.
- Shortlist 3-5 lenders. Do not just pick the most flexible one. Compare across LTV, loan limits, and prepayment terms. A lender with a slightly higher DSCR minimum but 80% LTV on cash-out might give you more equity access than one with a 0.75 minimum DSCR but 70% max LTV.
- Get quotes from your shortlist. Rate quotes are free. Getting three puts you in a position to negotiate.
- Run the deal. Use our DSCR calculator to verify your ratio, or the cash-out refi calculator to model the refinance.
Common mistakes when comparing lenders
- Fixating on the lowest minimum DSCR.A lender that accepts 0.75 DSCR will charge you for it. The rate premium on a sub-1.0 deal can be 1-2% above the same lender's 1.25+ pricing. Over 30 years on a $300,000 loan, that is $60,000 to $120,000 in extra interest. The lowest bar is not always the best deal.
- Ignoring prepayment penalties. A 5-year step-down penalty (5-4-3-2-1% of balance) on a $250,000 loan means $12,500 to exit in year one. If you are planning to sell or refinance within three years, a lender with a 3-year penalty instead of 5-year saves you real money.
- Not confirming state coverage."Nationwide" does not always mean all 50 states. Some lenders exclude specific states due to licensing or regulatory issues. Always confirm before you spend money on an appraisal.
- Comparing minimums instead of pricing tiers. Two lenders might both accept a 1.0 DSCR, but one prices the 1.0-1.19 tier 0.75% higher than the other. Ask for the full rate sheet, not just the floor.
Frequently asked questions
How many DSCR lenders are there?
There are dozens of active DSCR lenders in the US, ranging from large non-QM securitizers like Angel Oak and Griffin Funding to smaller regional specialists. The number you can actually access depends on your state, credit profile, and property type. Our matrix tracks 16 of the most active lenders with published criteria.
Which DSCR lender has the lowest minimum DSCR?
Griffin Funding, New Silver, and Constitution Lending all advertise minimums as low as 0.75 DSCR. However, sub-1.0 programs come with trade-offs: expect a larger down payment (25%+), higher rate, and more reserves. A 0.75 DSCR means the property loses money every month, so the lender is taking extra risk and pricing accordingly.
Which lender is best for short-term rentals?
Visio Lending, Easy Street Capital, and Defy Mortgage are known for strong STR programs. The key difference is how they underwrite income: some use trailing 12-month Airbnb/VRBO revenue, others use third-party projections (like AirDNA). If you are buying a property that has no rental history yet, you need a lender that accepts projections.
Can foreign nationals get DSCR loans?
Yes. Griffin Funding and A&D Mortgage both have foreign national programs. Expect a 5-10% LTV haircut (so 65-70% max instead of 75-80%), higher reserves, and a rate premium. An ITIN is often accepted in place of an SSN. The specifics vary enough between lenders that you should confirm directly.
What credit score do I need for a DSCR loan?
Most lenders floor at 660-680. New Silver and theLender go as low as 620. At 740+, you unlock the best rates and highest LTVs. The difference between a 660 and a 740 can be a full point on the rate, which on a $300,000 loan is roughly $200/month for 30 years.
How do I compare DSCR lenders?
Start with the three numbers that move the needle most: minimum DSCR, minimum FICO, and max LTV. These determine whether a lender will take your deal at all. Then compare rates (get quotes, the matrix cannot show live rates), prepayment penalties (which can trap you), and state coverage. Do not fixate on one variable, a lender with a lower DSCR minimum but a 5-year prepayment penalty might cost you more in the long run.
Is the data in this table accurate?
The data is sourced from lender websites and published rate sheets. DSCR lender terms change frequently, sometimes quarterly. Entries marked with an asterisk (*) have not been independently verified. Always confirm terms directly with the lender before applying. Think of this table as a starting point for your research, not a binding quote.