Las Vegas DSCR Long-Term Rental Lenders
Are you seeking long-term private financing for a residential rental property in Las Vegas? On this page you'll find a list of lenders that offer these “DSCR” loans for single family homes, condos, and 2-4 unit rental properties in Las Vegas’s urban areas. Some lenders consider vacation rentals (aka short-term rental or STR). The maximum loan-to-value is 80%. For a purchase, investors need a minimum down payment of 20%, and it could be higher depending on the debt service coverage ratio (DSCR), borrower’s credit score and location. The minimum credit score is 680 for most lenders. The loan terms range from 5 to 30 years.Searching...
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Nevada DSCR Loan Interest Rates
According to the loan documents software company, Lightning Docs, the average interest rate for Nevada DSCR long-term rental loans in the 1st quarter of 2024 was 7.93%. The average loan amount was $325,693. These stats are the average of 10 loans funded for residential rental properties in Nevada between January 1, 2024 and March 31, 2024 by multiple lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
Funded DSCR Rental Loans in Las Vegas
Lima One Capital, a lender for residential real estate investors, funded a $1,330,000 DSCR long-term rental loan in 1st lien position secured by a portfolio of residential investment properties in Las Vegas, NV. The investor needed to refinance a portfolio of six single-family rentals but they found themselves caught by the rapidly increasing rate environment of 2022. They needed a solution that provided security against rising rates while also offering enough leverage for them to get equity out of their portfolio to be able to scale their business. The value of all 6 properties was estimated to be $2,240,000 so our loan-to-value was 60%. The investor had a menu of options and selected a 5-year interest-only loan with a 25-year amortization. This gives the investor the lowest possible monthly payment while rates are high, allowing them to wait out the high rates while getting equity now. The subject property was tenant-occupied at closing. The Borrower plans to continue leasing the property long-term. This SFR long-term rental loan was funded in October 2022.