REAL ESTATE INVESTOR FINANCING
Rental Purchase
Acquire a rental property with cash-flow-based financing.
DSCR rental financing qualifies the property primarily on the rental income it produces rather than personal-income documentation. A Rental Purchase uses that structure to acquire a long-term or short-term rental, with up to 85% LTV on qualifying transactions and four distinct loan structures to match the hold strategy.
Available loan structures
Choose the structure that fits the hold
Structures are separate from your transaction purpose (purchase, refinance, cash-out, or portfolio). You don't need to understand these before applying — you can note a preference and we'll confirm the right fit for your scenario.
30-Year Fixed
Long-term stability with a traditional fully amortizing payment.
- Structure
- 30-year fixed-rate loan, fully amortizing principal + interest
- Maximum Leverage
- Up to 85% LTV on qualifying transactions
- Minimum DSCR
- 0.75x core guideline
- Credit Profile
- Approximately 660 core guideline
- Property Units
- Residential investment properties up to 10 units
- Rental Types
- Long-term and short-term
- Purposes
- Purchase, rate-and-term refinance, cash-out refinance
- Qualification
- No traditional personal-income qualification; primarily property income
- LTV Stacking
- Available
- Foreign National
- Options available
- Vesting
- LLC and individual options
- Typical Closing
- Approximately 2–3 weeks
- Investors wanting long-term payment predictability
- Properties with sufficient DSCR to support an amortizing payment
- Investors focused on principal paydown over time
- Investors wanting access to the maximum-leverage core DSCR platform
40-Year DSCR
10 years interest only, then 30 years amortizing — 40 years total.
- Structure
- 40-year total term: years 1–10 interest only, years 11–40 principal + interest amortized over the remaining 30 years
- Maximum Leverage
- Up to 85% LTV on qualifying transactions
- Minimum DSCR
- 0.75x core guideline
- Credit Profile
- Approximately 660 core guideline
- Property Units
- Properties up to 10 units
- Rental Types
- Long-term and short-term
- Purposes
- Purchase, rate-and-term refinance, cash-out refinance
- LTV Stacking
- Available
- Foreign National
- Options available
- Rate
- Structured as the applicable long-term DSCR program rate
- Primary Advantage
- First 10 years of interest-only payments reduce scheduled debt service, which may improve near-term cash flow, improve DSCR, and preserve investor liquidity
- Investors prioritizing monthly cash flow
- Properties where amortizing debt service makes DSCR tight
- Investors expecting to refinance or reposition before the IO period ends
- Portfolio investors trying to preserve monthly liquidity
Flexible 30-Year Fixed DSCR
30-year fixed, fully amortizing, with no-minimum-DSCR options.
- Structure
- 30-year fixed-rate mortgage, fully amortizing principal + interest
- Maximum Leverage
- Up to approximately 80% LTV purchase / rate-term; up to approximately 75% cash-out
- Minimum DSCR
- No minimum DSCR options
- Credit Profile
- Approximately 640 minimum
- Qualification
- No traditional debt-to-income qualification
- Rental Types
- Long-term, mid-term, short-term
- Occupancy
- Vacancy allowed on purchase
- STR History
- Not required on qualifying scenarios
- Property Units
- 1–10 unit residential investment properties
- Vesting
- Entities / LLCs / partners welcome
- Loan Range
- Approximately $100K–$3.5M+ on individual properties
- Blanket / Portfolio
- Up to approximately $5M
- Properties below 0.75x DSCR
- Properties with no meaningful DSCR
- Borrowers around 640–659 FICO
- Vacant rental acquisitions
Flexible 30-Year DSCR
10 years interest only, then 20 years amortizing — 30 years total.
- Structure
- 30-year total term: years 1–10 interest only, years 11–30 principal + interest amortized over the final 20 years
- Maximum Leverage
- Up to approximately 80% LTV purchase / rate-term; up to approximately 75% cash-out
- Minimum DSCR
- No minimum DSCR options
- Credit Profile
- Approximately 640 minimum
- Qualification
- No traditional debt-to-income qualification
- Rental Types
- Long-term, mid-term, short-term
- Occupancy
- Vacancy allowed on purchase
- STR History
- Not required on qualifying transactions
- Property Units
- 1–10 units
- Loan Range
- Approximately $100K–$3.5M+
- Blanket / Portfolio
- Up to approximately $5M
- Investors needing both flexible DSCR underwriting and lower early monthly payments
- Weak-cash-flow rentals
- Properties that do not fit the 0.75x core DSCR requirement
- Investors planning to refinance or sell within approximately the first 10 years
Typical Market
What investors commonly see in the market
Typical market ranges for DSCR rental financing across independent lenders. These are broad market reference points, not averages and not a guarantee — actual terms depend on the lender, property, borrower, and transaction.
- Maximum LTV
- Typical market range ~75–80% LTV (purchase/rate-term); cash-out often lower
- DSCR
- Many programs target ~1.0x+; no-minimum-DSCR options exist in the market
- Credit
- Typically mid-600s and up
- Qualification
- Primarily property rental income rather than personal W-2 income
- Term
- 30-year fixed and interest-only structures are common
- Property Units
- Residential investment properties, commonly 1–10 units
The four Green Fire Strategies loan structures shown below are separate from these market ranges — compare them directly.
Who
Who this product is for
Rental Purchase is for investors acquiring a long-term, mid-term, or short-term rental property who want qualification based on the property's income rather than personal W-2 income. That includes investors building a rental portfolio who have hit personal-income limits with conventional financing, buyers acquiring a property where the rent will carry the payment, and investors coming out of a bridge or fix-and-flip loan who want to stabilize into long-term rental debt.
What
What the financing does
A Rental Purchase finances the acquisition of a rental property using projected or current rental income to qualify, with up to 85% LTV on qualifying transactions. The loan is sized around the rent the property will produce and the property value, with the debt-service coverage ratio — rent divided by the housing payment — as the central qualification metric on structures that require a minimum DSCR.
When
When an investor uses it
Use a Rental Purchase when buying a rental property and you want the loan sized around the rent the property will produce rather than your personal debt-to-income ratio. It fits the moment between contract and closing — the window where you have a property under contract, a projected or current rent, and you need long-term financing that qualifies on the property's income.
Why
Why use this instead of traditional financing
An investor may use DSCR rather than conventional financing because qualification is based primarily on the property's rental income instead of personal W-2 income — which can make it easier to finance multiple rentals without running into personal-income limits that cap conventional lending. LTV stacking can also reduce cash to close, and the four structure options (30-year fixed, 40-year with a 10-year interest-only period, and two no-minimum-DSCR structures) let you match the payment profile to the hold strategy. For a property you intend to keep as a rental, that income-based qualification usually makes more sense than a conventional loan that underwrites your personal income.
Use cases
Typical use cases
- Rental property acquisition
- Long-term or short-term rental purchase
- BRRRR refinance after stabilization
- Portfolio expansion beyond personal-income limits
Process
How the loan works
- 1
Identify the rental
The investor identifies a property to acquire and hold as a rental, with a projected or current rent.
- 2
Submit the deal
Purchase price, projected or current rent, taxes, insurance, HOA, and property details are submitted.
- 3
DSCR estimate
The lender estimates the debt-service coverage ratio from the rent and housing expense, and sizes the loan within LTV limits.
- 4
Underwriting
The provider verifies rent, value, and borrower profile, and confirms the structure that fits the hold strategy.
- 5
Close and stabilize
Close the purchase and stabilize the property as a rental producing qualifying income.
Underwriting
What lenders generally evaluate
A DSCR lender evaluates the property's rental income first and the borrower's profile second. On the property side, they verify the rent — projected or current — the value, the taxes, insurance, and HOA, and calculate the debt-service coverage ratio from the rent relative to the housing payment. On the borrower side, they review credit, liquidity and reserves, and entity structure. Because qualification is based primarily on the property's income rather than personal W-2 income, the strength of the rent and the accuracy of the expense figures are the most heavily weighted factors. No-minimum-DSCR structures relax the ratio requirement but still verify value, rent, and borrower credit.
Exit
Exit strategies
- Hold the property as a long-term rental and service the debt from rent
- Refinance into a different DSCR structure later if rates or strategy change
- Sell the property if the rental strategy changes
Considerations
Important considerations
- Requires sufficient rental income relative to the payment (except no-minimum-DSCR structures)
- Reserves and experience may be required
- DSCR minimums and LTV vary by program and capital source
- Actual leverage and terms depend on the transaction, borrower, property, and capital source
Build toward the full capital requirement
Your first loan funds the property. Gap capital can fund the rest. Qualifying borrowers may be able to combine primary DSCR financing with eligible gap capital to address the down payment, closing costs, reserves, or other eligible deal costs — building toward 100% of the capital the deal requires when the combined structure qualifies. Gap Funding can complement DSCR financing just as it complements hard money.
- Primary Financing
- The DSCR loan — long-term rental financing qualified primarily on the property's rental income, up to 85% LTV on qualifying transactions.
- Gap Capital
- Eligible supplemental capital that may help cover the down payment, closing costs, reserves, or other eligible shortfalls the primary DSCR loan does not cover.
- Full-Capital Structure
- The combined stack. Potentially cover up to the full capital requirement when the combined structure qualifies and the primary lender's source-of-funds rules are satisfied.
100% financing is not guaranteed. The primary lender's source-of-funds, equity, reserve, and seasoning rules still control whether borrowed gap capital counts toward required liquidity. Qualify from a position of strength first, then preserve working capital when the structure permits.
Ready to apply for Rental Purchase?
One focused application. No cost, no obligation, and no credit pull to request your terms.
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