New York City rentals are expensive to buy and complicated to own, between rent regulation, recording taxes and some of the strictest short-term rental rules in the country. A DSCR loan keeps the financing side simple: the building's rent qualifies the loan, not your tax returns.
In short: Our top pick for a DSCR loan in New York City is LendingStreet. We qualify on the property's rent with no W-2s or tax returns, lend up to 80% LTV on a purchase and 75% on a cash-out, and close in your LLC. Loans start at $150,000 with no stated maximum, which matters in a city where a Brooklyn two-family can top $1M, and sub-1.0 DSCR programs help when city prices outrun the rent.
LendingStreet is built for investors who buy and hold 1-8 unit rentals: two- and three-family houses in Brooklyn, Queens and the Bronx, small mixed buildings, and investor condos. We finance purchases, rate-and-term refinances and cash-out refinances.
It fits self-employed investors, landlords who already own several buildings, and anyone holding property in an LLC. Larger balances get more review, and max LTV can be lower on 5-8 units and large loans, so we show you the options up front.
Get a quote with the form below or call (877) 298-1001.
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 York City, NY. 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. |
New York investors often start with a bank, a hard money lender for a quick close, or a private individual. Banks usually want full tax returns and may limit how many buildings you can carry. Here is the comparison for a long-term rental loan:
| Question | LendingStreet | Local bank | Hard money lender |
|---|---|---|---|
| Is income documentation required? | No W-2s or tax returns; the rent qualifies the loan | Usually yes, full tax returns | Often light, varies |
| Max purchase LTV | Up to 80% | Varies by bank | Varies |
| Long-term fixed option? | Yes, 30-year terms available | Sometimes; varies | Rarely; built for short holds |
| Can the LLC borrow? | Yes, LLC borrowers are standard | Sometimes | Usually |
| DSCR minimum | 1.0x standard, with sub-1.0 programs | Not DSCR-based; uses your income | Not usually DSCR-based |
| Number of rentals | Each rental qualifies on its own rent | Often limited by personal debt ratios | Deal by deal |
Brooklyn's brownstone and frame two- and three-family houses in Bed-Stuy, Bushwick, Crown Heights, Flatbush and East New York are classic small-investor stock. Queens offers attached and semi-detached two-families in Ridgewood, Astoria, Jackson Heights, Jamaica and Richmond Hill.
The Bronx has two- and three-family houses and small walk-ups at lower price levels, while Staten Island leans toward detached single-family and two-family homes. Manhattan investors mostly buy condos, since many co-op boards restrict subletting.
Rent stabilization generally covers buildings with six or more units built before 1974, which includes many 6-8 unit walk-ups. Rent increases on those units are set by the Rent Guidelines Board, so underwrite on the legal registered rents, not on hoped-for market rents.
New York's 2024 Good Cause Eviction law limits rent increases and evictions on many market-rate units, with exemptions, including some small landlords. Ask your attorney whether a building is covered before you count on rent growth.
One- to three-family homes are Class 1 for property tax, where annual assessment increases are capped. Buildings with four or more units and most condos fall under Class 2, which follows different rules. Use the actual Department of Finance bill in your ratio.
New York City and State charge a mortgage recording tax on new mortgage money, one of the largest closing costs here. On a refinance, a consolidation, extension and modification agreement (CEMA) can reduce it by assigning the existing loan, so ask early whether your file can use one. In coastal areas such as the Rockaways, Red Hook and parts of Staten Island, check flood zones before you budget insurance.
Since 2023, Local Law 18 requires hosts to register with the city and generally bars entire-home stays under 30 days, with the host required to be present. In practice, a non-owner-occupied investment property cannot operate as a nightly rental in New York City, so we underwrite city rentals on long-term leases. If short-term rental income is your plan, look at markets elsewhere in New York State where local rules allow it.
This example is illustrative and not a quote. An investor buys a Ridgewood two-family for $1,250,000. The units rent for $3,400 and $3,200, or $6,600 combined. Taxes are budgeted at $650 a month and insurance at $250.
At 75% LTV the loan is $937,500, estimated principal and interest is about $6,395, and the total payment is about $7,295. DSCR is about 0.90x, below the 1.0x standard minimum.
At 65% LTV the loan is $812,500, the payment is about $6,443 and DSCR is about 1.02x, which clears 1.0x. In NYC, that trade-off between leverage and coverage is common; a sub-1.0 program is the other option.
| Item | 75% LTV | 65% LTV |
|---|---|---|
| Loan amount | $937,500 | $812,500 |
| Down payment | $312,500 | $437,500 |
| Estimated principal and interest | $6,395 | $5,543 |
| Taxes and insurance | $900 | $900 |
| Total payment | $7,295 | $6,443 |
| DSCR at $6,600 rent | About 0.90x | About 1.02x |
Before you sign an application anywhere, get clear answers to these questions. They separate a lender built for investors from one that is not:
LendingStreet's answers, in the same order: 1.0x standard minimum with sub-1.0 programs available; seasoning varies by program; leverage up to 75% LTV on cash-out and 80% on purchase, lower on some 5-8 unit and large-balance files; LLC borrowing is standard; no stated maximum loan size above our $150,000 minimum; a closing schedule mapped out after we see the file; and a 620 credit floor.
Send the address, price or value, leases, rent registration history for any stabilized units, the tax bill and your target loan amount. We will run the ratio at a few loan sizes. For 9+ unit buildings, see our commercial loans. Get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet. We qualify on rent with no tax returns, lend up to 80% LTV on purchases and 75% on cash-out, close in your LLC and have no stated maximum loan size.
Yes. We finance non-owner-occupied 1-8 unit rentals in all five boroughs: Brooklyn, Queens, the Bronx, Staten Island and Manhattan.
Yes, if it is 1-8 units. We underwrite on legal registered rents, so the ratio reflects what the building can actually collect.
Generally no. Local Law 18 effectively bars non-owner-occupied stays under 30 days, so city rentals are underwritten on long-term leases.
Often, yes. A CEMA can reduce mortgage recording tax by assigning your existing mortgage. Ask early so title can arrange it.
You can put more down, as the example shows, or use one of our sub-1.0 DSCR programs.
Most of our NYC rental loans are on houses and condos. Many co-op boards restrict subletting, which makes them hard to hold as rentals.
No. Our loans are business-purpose loans on non-owner-occupied investment property.
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