Maryland's small multifamily is anchored by Baltimore, where rowhomes converted to two or three units are common, and filled out by older duplexes in Hagerstown, Frederick, Cumberland and Salisbury.
In short: Our top pick for Maryland 2-4 unit rentals is LendingStreet. We qualify duplexes, triplexes and fourplexes, including Baltimore rowhome conversions, on the combined rent of every unit, with no W-2s or tax returns. Purchases go up to 80% LTV and cash-out refinances up to 75% LTV, on 30-year terms, with LLC borrowing as standard and loans from $150,000 with no stated maximum. We lend statewide. Before you buy, check the rental license, lead registration, ground rent and transfer and recording taxes.
Baltimore conversions come with their own paperwork, from rental licenses to lead registration and the occasional ground rent. We know what to ask for, so the file moves without surprises.
What you get: DSCR financing from $150,000 with no stated maximum, up to 80% LTV to buy and up to 75% LTV to pull cash out, 30-year terms, a 620 credit minimum, and approval based on the property's rent rather than your tax returns. Most of our borrowers close in an LLC.
Investors adding a Maryland duplex, triplex or fourplex to a rental portfolio are the core fit. The next step is simple: get a quote with the form below, or call (877) 298-1001.
Investors searching for 2-4 unit rental lenders often compare national names like Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in Maryland. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Baltimore has thousands of rowhomes, many converted to two or three units, in neighborhoods like Charles Village, Pigtown, Highlandtown, Patterson Park and Hampden. Baltimore County suburbs such as Dundalk and Catonsville add duplexes and small buildings.
Hagerstown and Cumberland in western Maryland have older duplexes at lower prices, Frederick has higher-value rentals, and Salisbury on the Eastern Shore has demand near Salisbury University.
Each lender type has its place. This is how they typically compare for a long-term Maryland duplex, triplex or fourplex hold.
The other types are fair options in the right situation. Where LendingStreet stands out is the combination: qualify on rent, close in an LLC, keep a 30-year term and finance in any state as your portfolio grows.
| What Maryland investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualify on rent | Yes, combined rent of all units | Often requires tax returns and personal income | Based mostly on the deal, for a short term |
| Borrow in an LLC | Standard | Varies by bank | Common |
| Long-term hold | 30-year terms available | Varies; some portfolio loans have shorter terms | Usually short-term only |
| Purchase leverage | Up to 80% LTV | Varies by bank | Varies; fees and terms vary |
| Cash-out refinance | Up to 75% LTV | Varies | No long-term option |
| Loan size | From $150,000, no stated maximum | Set by the bank's appetite | Varies |
| Where they lend | All 50 states and DC | Usually local or regional | Usually local |
We qualify the building, not your paycheck. Add the rent from each unit, then divide by the full payment (principal and interest, taxes, insurance and any association dues). At 1.0x or better, the deal meets our standard minimum, and sub-1.0 programs are available on some files.
On a converted Baltimore rowhome, only legal units count toward the ratio. The appraiser will compare rent with similar conversions, so leases on each unit help.
Each size has its own guide: our duplex, triplex and fourplex pages cover leases, vacancies and unit mix in more detail, and the DSCR calculator lets you test a deal before you call.
Maryland's transfer and recording taxes are relatively high and vary by county, and Baltimore City's rates are among the higher ones. Baltimore City's property tax rate is also higher than in surrounding counties.
Baltimore City requires a rental license with an inspection. Maryland requires most pre-1978 rentals to be registered with the Department of the Environment and to meet lead risk-reduction standards. Some Baltimore properties carry a ground rent, which your title company will check. Montgomery County and Takoma Park have rent stabilization rules. Confirm current rules locally.
Say you buy a Baltimore rowhome converted to two units for $280,000 at 80% LTV, with each unit renting for $1,450 a month. Taxes are estimated at $6,300 a year and insurance at $1,800.
This example is illustrative and not a quote. Rent of $2,900 divided by a total payment of $2,222 gives a DSCR of about 1.31x, above our 1.0x standard minimum. The higher city tax rate is already in the number, and the ratio still has a cushion. Call (877) 298-1001 to test your own rowhome.
| Item | Amount |
|---|---|
| Purchase price | $280,000 |
| Loan amount (80% LTV) | $224,000 |
| Down payment | $56,000 |
| Monthly rent (2 units) | $2,900 |
| Estimated principal and interest | $1,547 |
| Property taxes ($6,300 a year) | $525 |
| Insurance ($1,800 a year) | $150 |
| Total monthly payment | $2,222 |
| DSCR | 1.31x |
A side-by-side comparison only works if every lender answers the same questions.
Here is where LendingStreet lands on each one: purchase up to 80% LTV and cash-out up to 75%; 1.0x standard minimum, with sub-1.0 programs; seasoning varies by program; LLCs are standard; we give you a timeline as soon as we review the file; and there is no stated maximum, with max LTV that can step down on large balances. Bridge loans that close in as little as 10 days are available if the seller needs speed.
Send the address, price, leases, rental license status and lead registration. We will check the ratio and send options. Get a quote with the form below.
Own five or more Maryland rentals? A blanket loan can combine them. Buildings with 9 or more units are commercial; see our commercial page.
Our top pick is LendingStreet. We qualify Maryland duplexes, triplexes and fourplexes, including Baltimore conversions, on combined rent, allow LLCs, offer up to 80% LTV and 30-year terms, and lend statewide.
Yes. We make DSCR loans on investor-owned 2-4 unit rentals statewide in Maryland, and in all 50 states and DC.
Some Baltimore properties sit on land with a ground rent, a small recurring payment to a ground owner. Title will identify it, and it is handled at closing.
Yes. You need one to rent legally in the city, and it requires an inspection. Plan for it so the rent the loan is based on is protected.
Vacant units can usually be counted at market rent supported by the appraisal. Signed leases on the occupied units help, and we will run the ratio both ways before you commit.
No. A DSCR loan qualifies on the property's rent. We look at credit (620 minimum), assets for the down payment and reserves, and the building's rent and expenses, not your W-2s or tax returns.
Yes. A DSCR rate-and-term refinance can replace a hard money, bridge or bank balloon loan at up to 80% LTV on some programs. Seasoning varies by program, so ask early.
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