From Dorchester walk-ups to Worcester double triple-deckers, Massachusetts is full of five- to eight-unit buildings. The right lender treats them like the rentals they are.
In short: Our top pick for 5-8 unit rentals in Massachusetts is LendingStreet. We treat five- to eight-unit buildings as residential DSCR loans, so you qualify on the building's rent with no W-2s or tax returns. LLC borrowing is standard, 30-year terms are available, and loans start at $150,000 with no stated maximum. Because max LTV on 5-8 units varies by program, we show you options at more than one loan amount, and we account for Massachusetts realities like town-by-town tax bills, older heating systems and the state lead law.
Massachusetts has a deep stock of small apartment buildings: brick walk-ups, converted Victorians and stacked double triple-deckers that hold six units on one lot. Many banks send anything over four units to a commercial desk. LendingStreet keeps five- to eight-unit buildings in our residential DSCR program, so the loan is sized on the building's rent rather than on your personal income.
Loans start at $150,000 with no stated maximum, and the standard minimum DSCR is 1.0x, with sub-1.0 programs on some files. You need a 620 minimum credit score, no W-2s or tax returns, and you can borrow in an LLC. Thirty-year terms are available, and max LTV on 5-8 units varies by program.
This fits investors buying, refinancing or pulling cash out of a non-owner-occupied 5-8 unit building anywhere from Boston to the Berkshires. Get a quote with the form below, or call (877) 298-1001.
Investors searching for 5-8 unit rental lenders often compare national names like CoreVest, 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 Massachusetts. 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 |
|---|---|---|
| 5-8 unit building | LendingStreet | We treat 1-8 units as residential DSCR. Lima One and CoreVest state 1-4 unit eligibility for their rental loans. |
| 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. |
Each lender type has a role. A local bank can suit a borrower with a long relationship and strong financial statements, and hard money can carry a gut renovation. For a long hold that qualifies on rent, the comparison usually looks like this.
| What 5-8 unit investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| How a 6-unit is treated | Residential DSCR | Often commercial | Short-term project loan |
| Income documents | Rent of all units; no W-2s or tax returns | Often tax returns and financial statements | Mostly the deal |
| Term | 30-year terms available | Often 5 to 10 years, or a balloon | Usually 12 to 24 months |
| LLC borrowing | Standard | Common | Common |
| Coverage area | All 50 states and DC | Usually local or regional | Usually local |
| Leverage | Varies by program | Varies by bank | Fees and terms vary |
In Boston, small apartment buildings cluster in Dorchester, Roxbury, Jamaica Plain, East Boston and Allston-Brighton, many of them brick buildings from the early 1900s. Just outside the city, Somerville, Chelsea, Malden, Lynn and Quincy have converted houses and small walk-ups near transit.
Further out, Worcester, Springfield, Lowell, Lawrence, Fall River and New Bedford offer older brick blocks and double triple-deckers at lower prices per unit, often with stronger ratios. College areas around Worcester and Amherst also produce five- to eight-unit buildings rented by the bedroom.
Wherever you buy, confirm the legal unit count with the city or town. A building listed as six units may only be legal for four, and we count rent from legal units.
Property taxes are set town by town and vary widely, so pull the current tax bill rather than relying on a listing estimate. In Boston, the residential exemption only goes to owner-occupants, so an investor's bill can rise after purchase. Massachusetts charges a deeds excise on transfers, customarily paid by the seller, and a smoke and carbon monoxide certificate from the local fire department is generally needed before a sale closes.
The state lead law requires owners of housing built before 1978 to delead units where a child under six lives, which matters in older buildings. Boston and several other cities run rental registration and inspection programs. Statewide rent control ended in 1994; proposals to bring local options back come up from time to time, so watch for changes and confirm current rules locally.
This example is illustrative and not a quote. An investor buys a six-unit brick building in Worcester for $1,350,000. Each unit rents for $1,850, so gross rent is $11,100 a month. Taxes are budgeted at $1,450 a month and insurance at $650.
At 75% LTV the loan is $1,012,500, with estimated principal and interest of about $6,907. The total monthly payment is about $9,007, and DSCR is about 1.23x. At 70% LTV the loan is $945,000, estimated principal and interest is about $6,447, and DSCR rises to about 1.30x. Max LTV on 5-8 units varies by program, which is why we show more than one loan amount.
The owner also pays about $900 a month for heat through a shared boiler. That cost is not part of the DSCR payment, but it belongs in your own cash flow.
| Item | 75% LTV | 70% LTV |
|---|---|---|
| Loan amount | $1,012,500 | $945,000 |
| Estimated principal and interest | $6,907 | $6,447 |
| Taxes and insurance | $2,100 | $2,100 |
| Total monthly payment | $9,007 | $8,547 |
| DSCR at $11,100 rent | About 1.23x | About 1.30x |
We add the rent from every legal unit and divide by the full monthly payment, including taxes, insurance and any association dues. In-place leases count, and a market rent estimate can support vacant units. With six or eight units, one empty apartment moves the ratio less than it would on a duplex.
Older buildings get a closer look at condition. Roof, boiler, porches, egress and electrical service all come up on appraisals of buildings from the early 1900s. If a building needs major work first, a short-term bridge loan followed by a DSCR refinance is often the cleaner path.
Use the same short checklist with every lender you talk to. Here is how LendingStreet answers each one.
Send the address, price or estimated value, the rent roll and your target loan amount. Add the current tax bill, an insurance quote, who pays heat and water, and your LLC documents. The team will run the ratio at more than one leverage level and come back with options. Buildings with 9 or more units are commercial; see our commercial page. To start, get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet. We treat five- to eight-unit buildings as residential DSCR loans, qualify you on the rent of every unit with no W-2s or tax returns, allow LLC borrowing and offer 30-year terms.
Yes. We lend statewide in Massachusetts, from Boston and the North Shore to Worcester, the Pioneer Valley and the South Coast, and in all 50 states and DC.
Usually, yes. A six-unit building falls in our 5-8 unit DSCR program, as long as all six units are legal.
The DSCR payment uses principal and interest, taxes, insurance and any dues. Heat is not part of that payment, but you should budget for it, since it affects your cash flow.
It affects the property more than the loan. Pre-1978 units where a young child lives must be deleaded, so check compliance and budget for any work.
Yes. A DSCR refinance can replace a bank loan that is nearing its balloon or reset, if the rent supports the new payment. Seasoning and max LTV vary by program.
Those are commercial loans with different rules. This program covers five to eight units.
It depends on the program and the building. Max LTV on 5-8 units varies by program, so we quote at more than one loan amount.
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