New York DSCR Loan Lenders for Long-Term and Short-Term Rentals
Are you seeking long-term private financing for a residential rental property in New York? On this page you'll find a list of lenders that offer DSCR loans for single family homes, condos, and 2-4 unit rental properties in New York' urban areas. Some lenders consider vacation rental (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, location and other factors. These loans require a FICO score over 680. The loan terms range from 5 to 30 years.New York is an enormous state, and some DSCR lenders only consider specific areas. Filter the lender list by selecting a region:
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$75,000 - $10,000,000
12 to 360 months
8.00% - 13.00%
2.00% - 5.00%
$75,000 - $5,000,000
3 to 360 months
10.50% - 12.00%
2.00% - 3.00%
$150,000 - $100,000,000
6 to 60 months
9.00% - 12.99%
0 - 2.00%
$75,000 - $7,000,000
12 to 360 months
7.00% - 12.99%
1.00% - 4.00%
$50,000 - $10,000,000
12 to 18 months
7.00% - 12.50%
1.00% - 4.00%
$75,000 - $50,000,000
12 to 360 months
1.00% - 2.00%
$200,000 - $6,000,000
12 to 24 months
11.00% - 12.00%
1.25% - 2.00%
$100,000 - $5,000,000
12 to 360 months
8.00% - 12.00%
1.00% - 3.00%
$50,000 - $2,000,000
4 to 12 months
11.88% - 13.00%
2.00% - 4.00%
$100,000 - $5,000,000
360 to 360 months
1.00% - 3.00%
$75,000 - $20,000,000
13 to 360 months
7.20% - 12.10%
0.25% - 2.50%
New York DSCR Loan Interest Rates
According to the loan documents software company, Lightning Docs, the average interest rate for New York DSCR long-term rental loans in the 4th quarter of 2023 was 8.77%. The average loan amount was $365,371. These stats are the average of 99 loans funded for residential rental properties in New York between October 1, 2023 and December 31, 2023 by multiple lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
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