New Orleans rentals come with history: shotgun doubles, camelbacks and Creole cottages on raised piers. They also come with a cost most cities do not have to plan around in the same way, which is the price of wind and flood coverage.
In short: Our top pick for DSCR loans in New Orleans is LendingStreet. We qualify on the property's rent with no W-2s or tax returns, lend to LLCs and offer 30-year terms, with purchases up to 80% LTV and cash-out up to 75%. Because insurance is such a large line here, we run the ratio on real quotes with you, and our sub-1.0 DSCR programs give tight deals another path. Loans start at $150,000 with no stated maximum.
LendingStreet is built for investors. Our DSCR rental loans qualify on the property's rent, not your personal income, so there are no W-2s or tax returns to collect. Loans start at $150,000 with no stated maximum, LLC borrowers are standard and 30-year terms are available.
It fits investors buying doubles and single-family rentals in Orleans and Jefferson parishes, owners refinancing a renovation into long-term debt, and landlords taking cash out of rentals they have held. We lend throughout Louisiana and in every other state and DC.
The next step is simple: get a quote with the form below, or call (877) 298-1001 and talk through the address, price and rent.
Investors searching for DSCR 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 New Orleans, LA. 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. |
| 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. |
| 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. |
Most New Orleans investors weigh a few kinds of lenders: local banks and credit unions, local hard money lenders, national online DSCR lenders and private individual lenders. Each has a place. For a rental you plan to hold, here is how they usually line up.
Hard money still makes sense for a short rehab, and a bank relationship can be valuable. Once a property is rented, though, a DSCR loan from LendingStreet is usually the cleaner long-term fit.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualify without tax returns | Yes, on the property's rent | Often requires tax returns and W-2s | Usually focuses on the deal |
| Long-term financing | 30-year terms available | Varies; investment loans may be shorter | Usually short-term only |
| Borrow in an LLC | Standard | Varies by bank | Common |
| Purchase leverage | Up to 80% LTV | Varies | Varies |
| Cash-out on a rental | Up to 75% LTV | Varies; may cap financed properties | Not built for long-term holds |
| Where they lend | All 50 states and DC | Usually a local footprint | Usually local or regional |
| Loan size | From $150,000, no stated maximum | Varies | Varies |
Much of the city's rental housing is in two-unit shotgun doubles, many over a century old. Mid-City, Gentilly, Bayou St. John, the Seventh Ward, Bywater, the Marigny and Uptown neighborhoods like the Irish Channel and Central City all have them, and they lease well to long-term tenants. Across the river, Algiers offers lower prices and a quieter rental market.
In Jefferson Parish, Metairie, Kenner, Harvey and Gretna add newer single-family homes on slab or raised foundations. Elevation, foundation type and roof age matter a great deal in this market. They affect both the insurance quote and the repairs you will be budgeting for.
Insurance is often the deciding line on a New Orleans rental. Wind and hurricane coverage is expensive, many policies carry a separate named-storm deductible, and the private market has been strained in recent years. Large parts of the city sit in mapped flood zones, where flood insurance is generally required, and many owners carry it even outside them. Get hazard and flood quotes during your inspection period, not after.
Louisiana's homestead exemption does not apply to rentals, so expect a higher bill than an owner-occupant paid. Orleans Parish reassesses on a regular cycle, and values can change. Louisiana closings are handled by notaries under the state's civil law tradition, and the city charges its own fees on transfers. Confirm current amounts with the assessor and your closing notary.
New Orleans tightly restricts whole-home short-term rentals in most residential neighborhoods, and the rules have been rewritten more than once after court challenges. Permits, caps and zoning limits apply, and enforcement is active. Do not count on nightly income in a residential district unless the property already qualifies under current rules; check with the city first.
For investors set on short-term rentals in Louisiana, look at markets in the state where they are allowed and permitted. In the city, most DSCR loans are underwritten on 12-month leases, which is how most doubles are rented.
This example is illustrative and not a quote. An investor buys a renovated shotgun double in Mid-City for $395,000. Each side leases for $1,600, so rent is $3,200 a month. Taxes are budgeted at $380, wind and hazard insurance at $450 and flood insurance at $120.
At 75% LTV the loan is $296,250 and estimated principal and interest is about $1,996. The total payment is about $2,946, so DSCR is about 1.09x. If the hazard quote comes back $200 higher, the payment rises to about $3,146 and DSCR falls to about 1.02x. In New Orleans, the insurance quote can move the ratio as much as the rent does.
| Item | Hazard at $450 | Hazard at $650 |
|---|---|---|
| Loan amount | $296,250 | $296,250 |
| Estimated principal and interest | $1,996 | $1,996 |
| Property taxes | $380 | $380 |
| Insurance and flood | $570 | $770 |
| Total monthly payment | $2,946 | $3,146 |
| DSCR | About 1.09x | About 1.02x |
Many New Orleans investors renovate a double with short-term financing, lease both sides and then refinance into a 30-year DSCR loan. Cash-out goes up to 75% LTV on the new value, and the payment, including insurance, must still clear the program minimum. Seasoning varies by program.
If insurance pushes the ratio below 1.0x, our sub-1.0 DSCR programs may still work, or a lower loan amount may fit. Get a quote with the form below or call (877) 298-1001 with your hazard and flood quotes in hand.
Before you commit to any lender, get clear answers to these questions. They decide how much you can borrow and whether the deal closes on time.
Here is how LendingStreet answers. Purchases go up to 80% LTV and cash-out up to 75%. The standard minimum DSCR is 1.0x, with sub-1.0 programs available. Cash-out seasoning varies by program, LLC borrowers are standard, and we give you a timeline based on your file when we quote. Loans start at $150,000 with no stated maximum; larger balances get more review and max LTV can be lower, which varies by program.
Our top pick is LendingStreet. We qualify on rent with no W-2s or tax returns, lend to LLCs, offer 30-year terms, and run the ratio on real insurance quotes, with sub-1.0 DSCR programs when a deal is tight.
Yes. LendingStreet lends on 1 to 8 unit investment rentals in New Orleans, Jefferson Parish and across Louisiana, and in all 50 states and DC.
Yes. A double is a two-unit property, and the loan qualifies on the combined rent of both sides. The 1.0x standard minimum DSCR applies, with sub-1.0 programs available.
Yes. Required flood insurance is part of the monthly payment used to calculate the ratio, along with taxes and hazard insurance.
Only if the property can legally operate under current city rules, which restrict whole-home STRs in most residential areas. Most loans here are based on long-term leases.
Louisiana closings are typically conducted by a notary, reflecting the state's civil law system. Your notary can confirm the city's transfer fees and recording costs.
No. Our loans are business-purpose loans on non-owner-occupied investment property only.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.