Published by Loan Daddy LLC · NMLS #2827624Broker, not lenderAZ CMB-2016143 · Loans made or arranged pursuant to a California Financing Law license, #60DBO-218873Non-owner-occupied investment property only
Commercial DSCR Investor Deal Desk
2026 Institutional Credit-Box Comparison · mortgagebysteve.com

Compare DSCR, Fix & Flip, Bridge & Multifamily Loan Programs Side-by-Side

Compare all 10 wholesale business-purpose loan programs and 6 unit-count brackets on Mortgage by Steve — Direct DSCR, Bridge & Rental Portfolio Financing. Every credit box is benchmarked across maximum purchase LTV/LTC, rate bands, minimum FICO, loan sizes, and closing speed through Loan Daddy LLC (NMLS #2827624).

1. 10 Wholesale Loan Programs — Credit-Box Comparison Matrix

Loan ProgramMax Leverage2026 Rate BandLoan RangeMin FICOTerm & Close SpeedMatrix
DSCR Rental Loans (1–4, 5–8, 5–9, 5–10, 5–25 & 5+ Units)
DSCR LOANS
Up to 80% LTV Purchase / 75% Cash-Out6.375% – 8.25% (Wholesale Tier Dependent)$100,000 – $15,000,000+620 – 660+ FICO
30-Yr Fixed, 5/1 & 7/1 ARM, 10-Yr IO, 40-Yr IO
14 – 21 Business Days close
Specs →
Hard Money Loans (Fast Asset-Based Acquisition & Bridge)
HARD MONEY LOANS
Up to 85%–90% LTC / 75% ARV9.25% – 11.50% Interest-Only$100,000 – $15,000,000+600 – 640+ FICO (Asset-Backed)
6, 12, 18 & 24 Months Interest-Only
5 – 10 Business Days close
Specs →
Private Money Loans (Flexible Balance-Sheet & Debt-Fund Capital)
PRIVATE MONEY LOANS
Up to 80% LTV / 85% LTC8.99% – 11.25% Interest-Only$100,000 – $15,000,000+Flexible Credit / Equity-Driven
6 to 36 Months Interest-Only
7 – 12 Business Days close
Specs →
Fix and Flip Loans (Up to 90% Purchase LTC + 100% Rehab Financing)
FIX & FLIP LOANS
Up to 90% Purchase + 100% Rehab (75% ARV Cap)9.25% – 11.25% Interest-Only$100,000 – $15,000,000+620 – 660+ FICO
12 – 18 Months Interest-Only (No Prepayment Penalty)
7 – 10 Business Days close
Specs →
Real Estate Bridge Loans (1–4 Unit, 5–25+ Unit Multifamily & Commercial)
BRIDGE LOANS
Up to 80% LTV Acquisition / 75% Bridge Cash-Out8.75% – 10.99% Interest-Only$100,000 – $15,000,000+640+ FICO
12, 24 & 36 Months (With Extension Options)
10 – 15 Business Days close
Specs →
Ground-Up Construction Loans (Spec Homes, Duplex/Fourplex & Build-to-Rent)
GROUND-UP CONSTRUCTION
Up to 85% LTC / 70%–75% Completed ARV9.75% – 11.75% Interest-Only on Drawn Funds$100,000 – $15,000,000+660+ FICO
12 – 24 Months Interest-Only
14 – 21 Business Days close
Specs →
Multifamily Loans (5–8, 5–9, 5–10, 5–25 & 5+ Unit Apartment Financing)
MULTIFAMILY (5+ UNITS)
Up to 75%–80% LTV Purchase / 70%–75% Cash-Out6.50% – 8.50% (Perm) / 8.99%+ (Value-Add Bridge)$100,000 – $15,000,000+660+ FICO
30-Yr Fixed, 5/1 & 7/1 ARM, 10-Yr IO, 24-Mo Bridge
21 – 30 Business Days close
Specs →
Commercial Property Loans (Mixed-Use, Retail, Industrial, Warehouse & Office)
COMMERCIAL PROPERTY
Up to 75% LTV6.875% – 8.99%$100,000 – $15,000,000+660+ FICO
25–30 Yr Amortization, 5/7/10 Yr Fixed or 30-Yr Non-QM CRE
21 – 30 Business Days close
Specs →
Investor Rehab & BRRRR Renovation Loans (Purchase + Holdback to DSCR)
REHAB & BRRRR LOANS
Up to 85%–90% LTC + 100% Rehab Escrowed9.25% – 11.25% (Bridge Phase) -> 6.50%+ (DSCR Takeout)$100,000 – $15,000,000+620+ FICO
12-Mo Rehab Bridge + Seamless 30-Yr DSCR Refi
7 – 12 Business Days close
Specs →
Investor DSCR Cash-Out Refinance (1–4, 5–8, 5–9, 5–10, 5–25 & 5+ Units)
CASH-OUT REFINANCE
Up to 75% LTV Cash-Out (Select 80% LTV Tiers)6.625% – 8.375%$100,000 – $15,000,000+640 – 680+ FICO
30-Yr Fixed, 10-Yr Interest-Only, 40-Yr Interest-Only
14 – 21 Business Days close
Specs →

2. Residential (1–4 Unit) vs. Commercial (5–100+ Unit) Bracket Comparison

Unit BracketMax Purchase LTVMax Cash-Out LTVMin DSCRAppraisal & DSCR Formula
1–4 Unit Residential DSCR LoansUp to 80% LTVUp to 75% LTV0.75x – 1.00x+
Valuation: FNMA Form 1004 (SFR) / Form 1025 (2–4 Unit) + Form 1007 Rent Schedule or STR Projection
Formula: Gross Monthly Qualifying Rent ÷ Monthly PITIA (Principal + Interest + Taxes + Insurance + HOA)
5–8 Unit Crossover Multifamily DSCR LoansUp to 75% LTVUp to 70%–75% LTV1.00x – 1.15x
Valuation: Small-Balance Multifamily / Residential-Crossover Appraisal + Rent Roll & T-12
Formula: Net Operating Income (NOI) or Gross Rental Income ÷ Debt Service (Program Dependent)
5–9 Unit Small-Balance Multifamily DSCR LoansUp to 75% LTVUp to 70% LTV1.10x – 1.20x
Valuation: Narrative Commercial Appraisal (Income, Sales Comparison & Cost Approach) + Rent Roll
Formula: Annual Net Operating Income (NOI after 5% Vacancy & OpEx) ÷ Annual Debt Service
5–10 Unit Expanded Multifamily DSCR LoansUp to 75% LTVUp to 70% LTV1.15x – 1.20x
Valuation: Commercial MAI Appraisal + Verified Rent Roll + Trailing-12 (T-12) P&L
Formula: Annual Net Operating Income (NOI) ÷ Annual Debt Service (>= 1.15x–1.20x)
5–25 Unit Mid-Market Apartment DSCR & Bridge LoansUp to 75%–80% LTVUp to 70% LTV1.15x – 1.25x
Valuation: MAI Commercial Appraisal + Phase I ESA (when required) + Property Condition Assessment
Formula: Stabilized Annual Net Operating Income (NOI) ÷ Annual Debt Service
5+ Unit Commercial Multifamily & Blanket Portfolio LoansUp to 75%–80% LTVUp to 70%–75% LTV1.15x – 1.25x
Valuation: Commercial Multifamily or Portfolio Valuation + Partial-Release Schedule
Formula: Aggregate Portfolio / Commercial Annual NOI ÷ Aggregate Annual Debt Service

3. Category-Specific Lender Rankings

Top 10 DSCR Lenders Allowing 80% LTV Cash-Out Refinances (2026 Matrix Audit)
While 82% of wholesale DSCR lenders cap cash-out refinances at 70%–75% LTV once rates or loan amounts cross $1M, a select tier of institutional Non-QM and DSCR conduits permit up to 80% LTV cash-out on 1–4 unit investment properties with 720+ FICO and >= 1.15x DSCR. Below are the top 10 verified lenders from our 2,404-lender database.
Top 15 No-Ratio & Sub-1.00x DSCR Lenders (0.75x to 0.00x Cash-Flow Shelves)
In high-appreciation coastal and Sunbelt metros (California, Scottsdale, Austin, Seattle, South Florida), market rents on Form 1007 often pencil at 0.72x–0.94x DSCR. These 15 verified lenders fund sub-1.00x and true No-Ratio (0.00x) DSCR loans using equity cushions (65%–75% LTV) and post-closing reserves instead of positive cash-flow minimums.
Best 10 Airbnb & Short-Term Rental (STR) DSCR Lenders Accepting AirDNA & T-12 Ledgers
Standard DSCR underwriters force appraisers to use long-term lease comps on Form 1007, which understates Vacation Rental cash flow by 35%–55%. The 10 lenders ranked below accept AirDNA Rentalizer projections (at 60%+ occupancy / 50th–75th percentile), short-term rental appraisal addenda, or 12-month Airbnb/VRBO payout histories.
Top 12 Fix-and-Flip & Bridge Lenders Offering Up to 90% LTC + 100% Rehab Holdback
High-velocity rehabbers and BRRRR investors maximize return on equity by pairing 85%–90% Loan-to-Cost (LTC) on acquisition with 100% of vertical renovation costs funded in Dutch or non-Dutch draw holdbacks (capped at 70%–75% of After-Repair Value). Here are the top 12 RTL and bridge lenders in our 2,404-lender index.
Top 10 Small Multifamily (5–25 Unit) Commercial DSCR & Bridge Lenders
Properties with 5 to 25 residential units fall above residential 1–4 unit Fannie/Freddie caps but below $5M+ institutional agency balance minimums. These 10 commercial DSCR and bridge lenders underwrite 5–25 unit apartment buildings off T-12 Net Operating Income (NOI ÷ Debt Service >= 1.15x–1.20x) with zero personal tax returns.
Top 10 Foreign National & ITIN Investor DSCR Lenders (No U.S. Credit Score Required)
International investors (Canadian, UK, LATAM, European, and Asian buyers) and U.S. ITIN holders can acquire U.S. cash-flowing rental properties inside a U.S. Single-Purpose LLC at 65%–75% LTV without a U.S. Social Security Number or domestic FICO score.
Top 10 Blanket & Cross-Collateralized Rental Portfolio Lenders (3 to 50+ Doors)
Instead of managing 12 separate mortgages, appraisals, and tax escrows, portfolio investors consolidate 3 to 50+ single-family or 2–4 unit rentals into a single cross-collateralized blanket note with partial release clauses (110%–115% release paydown).
Top 10 Condotel & Non-Warrantable Condo DSCR Lenders (Resort & High-Investor Concentration)
Conventional lenders automatically reject condominium projects with >50% investor concentration, short-term rental front desks (condotels), commercial space >35%, or single-entity ownership >10%. These 10 Non-QM and DSCR lenders explicitly fund non-warrantable condos and resort condotels up to 75% LTV.
Compare DSCR, RTL Fix-and-Flip, Multifamily & Portfolio Programs (2026) | Mortgage by Steve — Direct DSCR, Bridge & Rental Portfolio Financing