Not every rental property fits the same loan. A stabilized single-family rental needs a different program than a vacant 8-unit you're converting to Airbnb. This guide breaks down every investment property loan program we offer — 30-year fixed DSCR, no-ratio DSCR, stated income, short-term rental, bridge/fix-and-flip, and blanket/multifamily — so you can match the right financing to your actual deal. No tax returns required on any program. 650 minimum credit score. Closings in 2-4 weeks across 48 states.
No Tax Returns on Any Program
Every loan program qualifies on the property, not your personal income. No W-2s, no pay stubs, no tax returns. Self-employed, retired, full-time investor — doesn't matter.
650 Minimum Credit Score
All six programs start at a 650 FICO. Higher scores get better pricing, but you don't need a 740 to get approved. Credit events older than 2 years are typically workable.
Close in 2-4 Weeks
No income verification means less paperwork and fewer back-and-forth rounds with underwriting. Most loans close in 14-30 days — fast enough to compete with cash offers.
48-State Coverage
We lend on investment properties in 48 states. Close in your personal name, LLC, trust, or corporation. No limit on how many properties or loans you can have simultaneously.
Investment Property Loan Programs at a Glance
Here's a side-by-side comparison of all six programs. Each one targets a different investment strategy, and several can be combined in the same portfolio. Not sure which fits your deal? Use our Loan Recommender tool to get a personalized match in 60 seconds.
| Program | Best For | Loan Range | Max LTV | Min DSCR | Term |
|---|---|---|---|---|---|
| 30-Year Fixed DSCR | Buy-and-hold SFR | $50K – $3M+ | 80% | 0.75x | 30-yr fixed |
| No-Ratio DSCR | Vacant / unstabilized | $50K – $5M | 80% | None required | 30-yr fixed |
| Stated Income | Complex tax situations | $50K – $5M | 80% | Individually priced | 30-yr fixed |
| Short-Term Rental / Airbnb | Vacation rentals | $50K – $5M | 80% | Projected STR income | 3/5/7/30-yr |
| Bridge / Fix-and-Flip | Rehab projects | $50K – $3M+ | 90% LTC | N/A | 12-24 months |
| Blanket / Multifamily | Portfolio consolidation | $50K – $25M | 80% | 1.0 – 1.2x | 3/5/7/10/30-yr |
30-Year Fixed DSCR Loan
This is the bread-and-butter program for buy-and-hold investors. You get a fully amortizing 30-year fixed rate with no income verification — the lender qualifies the deal based entirely on the property's DSCR (Debt Service Coverage Ratio). If the property's gross monthly rent divided by the total monthly payment (principal, interest, taxes, insurance, and HOA) hits at least 0.75x, you're approved.
The 30-year fixed DSCR loan works for single-family homes, 2-4 unit properties, condos, and townhomes. Loan amounts start at $50K and go above $3M for higher-value properties. Maximum LTV is 80% on purchases and rate-term refinances, meaning you'll bring 20% down. Cash-out refinances are available up to 75% LTV. According to CoreLogic, DSCR loans accounted for roughly 23% of all non-agency securitized loans in 2024 — a sign of how mainstream this product has become for rental investors.
Rate pricing is tiered by credit score and DSCR ratio. A 740+ FICO with a 1.25x DSCR gets the best rate. A 660 FICO with a 0.80x DSCR still qualifies — just at a higher rate. You can close in your personal name or directly in an LLC, trust, or corporation with no seasoning requirement for title transfer.
When to Use It
Pick the 30-year fixed DSCR when you're buying or refinancing a stabilized rental property with existing tenants (or a strong comparable-rent appraisal). It's the most predictable structure: your rate and payment never change, cash flow is locked, and you hold for the long term. If your property is vacant, newly acquired, or doesn't yet have a stable rental history, look at the No-Ratio DSCR instead.
What If the Property Is Vacant or Unstabilized?
Use a no-ratio DSCR loan. This program removes the rental income requirement entirely and qualifies borrowers on LTV (up to 80%) and credit score (650 minimum) alone. Loan amounts go up to $5M with a 30-year fixed rate. The rate premium over standard DSCR is typically 0.25-0.50%. It's built for vacant acquisitions, mid-renovation properties, and high-appreciation markets where rents don't cover the payment.
That's exactly what the No-Ratio DSCR program solves. Standard DSCR loans require the property to generate enough rent to cover the payment. But what about a vacant property you just bought? Or a building mid-renovation that doesn't have tenants yet? Or a condo in a market where rents don't quite cover the mortgage but appreciation makes it worth holding?
The No-Ratio DSCR program eliminates the DSCR requirement entirely. The lender qualifies the loan based on LTV and credit score alone — no income ratio needed. You still get a 30-year fixed rate, loan amounts up to $5M, and 80% LTV. The pricing premium over a standard DSCR loan is typically 0.25-0.50% in rate.
This program is also useful for investors who are transitioning a long-term rental to a short-term rental (the property may be vacant during the transition), or for properties in high-appreciation markets where the rent-to-price ratio is low. If you're buying in San Francisco, Austin, or Miami where cap rates are compressed, the rent might not hit the 0.75x DSCR minimum — but the No-Ratio program doesn't care.
When to Use It
Any time the property can't demonstrate sufficient rental income. Vacant properties, recently purchased properties without rental history, properties in low-cap-rate markets, or properties undergoing conversion from one use to another. If it's a standard occupied rental hitting at least 0.75x DSCR, you'll get better pricing on the standard 30-year fixed.
Not Sure Which Program Fits Your Deal?
Tell us about the property and your investment strategy. We'll match you to the right program, quote a rate, and have a term sheet ready within 24 hours.
Can You Get an Investment Property Loan Without Showing Income?
Yes. Every investment property loan program at Rental Home Financing qualifies borrowers without personal income documentation — no W-2s, tax returns, or pay stubs. The stated income program goes furthest: you state your income on the application with zero verification. The lender underwrites on property value, credit score (650+), and reserves. Loan amounts reach $5M at up to 80% LTV, with closings in 3-4 weeks.
The Stated Income program is designed for investors whose tax returns don't reflect their true financial picture. If you write off heavy depreciation, run income through multiple entities, or simply have a complex return that conventional underwriters can't follow, stated income is the path forward.
You state your income on the application. No verification. No transcripts. No CPA letter. The lender underwrites based on the property value, your credit score, your liquidity (reserves), and the property's income potential. Loan amounts go up to $5M with 80% LTV. The rate is individually priced based on credit, LTV, and property type — expect a modest premium over the standard DSCR program.
Stated income loans are also a strong fit when you're buying a property type that doesn't have a clean rental comparable set. Mixed-use properties, unique layouts, or rural rentals sometimes don't produce a clean DSCR calculation. The stated income structure sidesteps that entirely by removing the ratio from the underwriting equation.
When to Use It
When your personal tax returns are complex, show low income due to depreciation, or when you'd rather not provide financials at all. Also works well for investors who own properties in LLCs with pass-through losses that artificially suppress reported income. If you have strong credit (700+) and solid reserves, this program is straightforward.
Six loan programs covering every rental property type — from single-family homes to 100-unit portfolios
Short-Term Rental and Airbnb Financing
AirDNA reports the median U.S. short-term rental generated $32,000 in annual gross revenue in 2024, with top-performing markets exceeding $60,000. Short-term rentals generate significantly higher gross income than long-term rentals, but conventional lenders don't know how to underwrite them. They look at the long-term comparable rent, ignore the Airbnb potential, and offer a lower loan amount as a result. Our short-term rental loan program underwrites based on the property's projected STR income — typically pulled from AirDNA, Rabbu, or actual booking history.
This means a beachfront condo generating $5,000/month on Airbnb gets underwritten at $5,000/month, not the $2,200 long-term comparable rent a conventional lender would use. The difference in qualification is massive. Loan amounts go up to $5M, LTV maxes at 80%, and terms are available in 3-year, 5-year, 7-year, and 30-year options. ARM and fixed-rate structures are both available.
The program covers single-family homes, condos, townhomes, cabins, and 2-4 unit properties listed on Airbnb, VRBO, or any short-term rental platform. Properties don't need existing booking history — if you're converting a long-term rental to STR or buying a property you plan to list immediately, the lender uses projected income from a third-party STR revenue analysis.
When to Use It
Any time you're buying, refinancing, or doing a cash-out refinance on a property that operates (or will operate) as a short-term rental. If the property is also suitable for long-term tenants, you may get better pricing on the standard 30-year DSCR using long-term rent — compare both scenarios with your loan officer. If the STR income significantly exceeds the long-term rent, the STR program will almost always qualify for a larger loan amount.
Bridge Loans and Fix-and-Flip Financing
The National Association of Realtors estimated 14% of all existing-home sales in 2024 were purchased by investors, many targeting value-add opportunities. Bridge loans are short-term financing for properties that need work before they can be rented or sold. You're buying a distressed property, renovating it, and either flipping it for profit or stabilizing it and refinancing into a permanent loan. The bridge/fix-and-flip program funds both the acquisition and the renovation in a single loan.
Loan-to-cost (LTC) goes up to 90%, meaning you might put as little as 10% down on the total project cost (purchase price plus renovation budget). The lender holds the renovation funds in escrow and releases them in draws as work is completed. Loan amounts range from $50K to $3M+, with terms of 12-24 months. Interest is typically calculated on the drawn balance only, so you're not paying interest on renovation funds you haven't used yet.
This is the only program on this list that isn't designed for long-term hold. It's a construction-to-exit strategy: buy, renovate, then either sell or refinance into one of the permanent programs above (30-year DSCR, no-ratio, blanket, etc.). Many investors run a rolling pipeline — always 2-3 bridge loans active, flipping into permanent financing as each project stabilizes.
When to Use It
Properties that need renovation before they can generate rental income or be sold at full market value. REO properties, estate sales, off-market deals with deferred maintenance, or any acquisition where the property's current condition doesn't support a permanent loan. Also works for ground-up construction on smaller residential projects.
How Do You Finance Multiple Rental Properties Under One Loan?
With a blanket mortgage. A blanket loan consolidates 2 to 100+ rental properties under a single loan with one monthly payment. Loan amounts range from $50K to $25M, LTV maxes at 80%, and the DSCR is calculated on the blended income of the entire portfolio — typically requiring 1.0-1.2x. Terms include 3, 5, 7, 10, and 30-year options. Most include a release clause so you can sell individual properties without paying off the entire loan.
A blanket loan covers two or more properties under a single mortgage. Instead of managing 10 separate loans with 10 separate payments, 10 separate escrow accounts, and 10 separate renewal dates, you consolidate everything into one. The portfolio DSCR is calculated on the combined income of all properties versus the combined debt service.
This is the highest-capacity program we offer. Loan amounts go up to $25M, covering portfolios of 2-100+ units. Property types include single-family, 2-4 unit, multifamily (5+ units), and mixed residential portfolios. LTV maxes at 80%, and the DSCR threshold is typically 1.0-1.2x on the blended portfolio — so a strong-performing property can offset a weaker one.
Terms are flexible: 3, 5, 7, 10, and 30-year options are available, with amortizations up to 30 years on all structures. Most blanket loans include a release clause, which lets you sell or refinance individual properties out of the blanket without triggering a full payoff. That's critical for portfolio management — you can prune underperformers or 1031-exchange into better markets without unwinding the entire loan.
When to Use It
Portfolio investors with 2+ properties who want operational simplicity, better pricing through portfolio leverage, or the ability to acquire multiple properties in a single transaction. Also the go-to structure for apartment buildings (5+ units), mixed-use portfolios, and investors scaling past the 10-property limit that conventional lenders impose.
Which Program Should You Choose?
Start with the property and work backward to the program. The decision is usually straightforward:
Quick Decision Guide
Most investors end up using multiple programs over time. You might start with a 30-year fixed DSCR on your first rental, use a bridge loan to renovate your second property, refinance that into a no-ratio DSCR, then consolidate both into a blanket when you scale to 5+ properties. Each program connects to the others — they're tools in the same toolbox.
What Do All Six Programs Have in Common?
All six programs share the same core requirements: no personal income verification, 650 minimum credit score, entity closings allowed (LLC, trust, corporation), no property count limits, and 48-state coverage. Rates are tiered by FICO and LTV, with pricing improving at 680, 700, 720, and 740+. Closings typically run 2-4 weeks. These are business-purpose loans classified under non-QM guidelines, not subject to Fannie Mae or Freddie Mac property count caps.
Despite the different structures, every program on this list shares the same core underwriting philosophy: qualify the property, not the borrower's personal income. Here's what stays consistent:
No personal income verification. No W-2s, no tax returns, no CPA letters, no bank statement programs. The property's income potential (or in the case of stated income and no-ratio, the property's value and your credit profile) drives the approval.
650 minimum credit score. All programs accept 650 FICO and above. Rate and LTV tiers improve at 680, 700, 720, and 740+. Recent bankruptcies or foreclosures may require seasoning (typically 2-4 years depending on the event).
Entity closings. Close in your personal name, LLC, corporation, or trust. No title seasoning required for entity transfers. This matters for asset protection and tax planning — most experienced investors hold rental properties in LLCs, and these programs accommodate that directly.
No property count limits. Fannie Mae and Freddie Mac cap investors at 10 financed properties (raised from 4 in 2009, per FHFA guidelines). DSCR and blanket programs have no cap. If you own 50 rentals and want to buy number 51, the process is the same as buying number 1.
48-state coverage. Properties in all states except Alaska and Hawaii are eligible. Rural, suburban, and urban — the property just needs to be a non-owner-occupied investment property.
No property count limits — finance your 1st rental or your 51st with the same process
How Does the Application Process Work?
The process takes 2-4 weeks from application to funded loan. You apply online in 10 minutes, receive a term sheet within 24 hours (soft credit pull only), then enter underwriting for 1-2 weeks while the appraisal is ordered. Closing happens in week 3-4 with funds wiring within 24-48 hours of signing. No income documents to gather means fewer underwriting conditions and faster clear-to-close.
Every program follows the same streamlined workflow. Because there's no income documentation to gather, the process is significantly faster than conventional lending.
Step 1: Application (10 minutes). Complete the online application or call 888-375-7977. You'll provide basic property details (address, purchase price or estimated value, current rent or projected rent) and borrower information (credit score range, entity type, property count).
Step 2: Term sheet (24 hours). We quote your rate, LTV, estimated closing costs, and loan terms. This is a soft pull — no hard credit inquiry yet. You review the terms and decide whether to proceed.
Step 3: Underwriting (1-2 weeks). Once you accept the term sheet, we order the appraisal and run the formal underwriting. For DSCR loans, the appraiser provides a rent schedule (Form 1007) alongside the property valuation. For STR loans, a third-party STR revenue projection is ordered. For bridge loans, a renovation scope and budget review is conducted.
Step 4: Closing (week 3-4). Clear-to-close is issued, the closing package goes to the title company, and you sign. Funded loans wire within 24-48 hours of signing. The entire process from application to funded loan is typically 2-4 weeks.
Real-World Scenarios: Picking the Right Program
Scenario 1: First-time investor buying a duplex. You found a duplex listed at $320K. One unit rents for $1,500/month, the other for $1,400/month. Your FICO is 710. Total gross rent is $2,900/month. Estimated PITIA is $2,200/month. DSCR = 1.32x. Best fit: 30-Year Fixed DSCR at 80% LTV ($256K loan, $64K down). You'll lock a fixed rate and hold the property long-term.
Scenario 2: Buying a vacant condo in a ski town for Airbnb. The condo is $450K. It's currently vacant — you plan to list it on Airbnb. Long-term rental comps only show $1,800/month, but AirDNA projects $4,200/month in STR revenue. Best fit: Short-Term Rental program with projected STR income underwriting. If for some reason STR projections don't qualify, fall back to the No-Ratio DSCR — no income requirement at all.
Scenario 3: Scaling from 8 to 15 properties. You own 8 single-family rentals, each with a separate DSCR loan. You want to buy 7 more. Conventional lenders cut you off at 10 properties. Best fit: roll all 15 into a single Blanket Loan — one payment, one servicer, with a release clause that lets you sell individual properties later. The portfolio's blended DSCR smooths out any individual property weaknesses.
Scenario 4: Flipping a distressed property, then refinancing into a rental. You're buying a foreclosure for $180K that needs $60K in renovations. ARV (after-repair value) is $340K. Best fit: Start with a Bridge/Fix-and-Flip loan at 90% LTC ($216K covering purchase + rehab). After renovation, refinance into a 30-Year Fixed DSCR based on the new appraised value and the stabilized rent. Total time: 6-8 months from acquisition to permanent financing.
What You'll Need to Apply (All Programs)
- Property address and purchase price (or estimated current value for refinances)
- Current or projected monthly rent (lease, listing, or market comp)
- Credit score (650 minimum across all programs)
- Entity documentation if closing in LLC, trust, or corporation
- Proof of funds for down payment and reserves (bank or brokerage statement)
- Renovation scope and budget (bridge/fix-and-flip only)
- No W-2s, no tax returns, no pay stubs, no employment verification
Ready to Get Started?
Apply in 10 minutes. Get a term sheet in 24 hours. Close in 2-4 weeks. All six programs — one application. We'll match you to the right loan based on your property and strategy.