Oregon has steady rental demand and some of the most detailed landlord rules in the country. A good DSCR lender sizes your loan on rent you can actually count on under those rules.
In short: No single DSCR lender is best for every Oregon rental; the right one depends on your property's rent, the payment and the leverage you want. Because Oregon limits annual rent increases statewide and Portland and Bend regulate short-term rentals, base your numbers on current, realistic rent rather than future increases. Compare minimum DSCR, max LTV, cash-out limits and STR treatment along with rate and closing costs. LendingStreet finances investment property in Oregon with DSCR rates from 6.125%, cash-out up to 75% LTV and no W-2s or tax returns.
Kiavi, CoreVest, Angel Oak and Griffin Funding also write DSCR loans, as does LendingStreet. Each sets its own rules on minimum ratio, unit count, short-term rental income and cash-out.
For Oregon investors, the useful questions are practical. Will the lender count the rent your lease actually supports? Will it lend on a duplex or fourplex the same way it lends on a house? Does it credit STR revenue where a permit exists?
We offer DSCR loans that qualify on the property's rent, with 30-year fixed options. Rates start at 6.125% for well-qualified borrowers, and short-term rental DSCR starts at 6.49%, qualifying on projected revenue.
Purchases go up to 80% LTV and cash-out refinances up to 75%. The minimum credit score is 620 and the standard minimum ratio is 1.0x, with sub-1.0 and no-ratio programs available on some files. LLC borrowers are welcome, and loans start at $150,000.
The Portland metro, including suburbs in Washington and Clackamas counties, is the state's largest rental market and has a large stock of older houses and small multifamily. Salem, the state capital, and Eugene, home to the University of Oregon, have steady demand from government workers and students.
Bend in Central Oregon draws outdoor recreation visitors and has a strong vacation rental history. Medford in southern Oregon tends to have lower prices than Portland or Bend, though insurance can be higher in areas with wildfire exposure.
Oregon has a statewide rent stabilization law that caps annual rent increases on many rentals, along with just-cause rules for ending tenancies after a set period. Some newer buildings are exempt for a period of years. Portland adds its own tenant protections, including relocation requirements in some situations.
For underwriting, this means the rent you start with matters more than the rent you hope to reach. Details change, so confirm current rules with local counsel or a property manager before you buy.
Portland requires a short-term rental permit, and its rules favor hosts who live on site, which can limit non-owner-occupied nightly rentals. Bend requires STR permits and has limited new permits in many residential areas, so an existing permit may not transfer the way a buyer expects.
Check permit status and transfer rules with the city before you write an offer. If STR use is not allowed, size the loan on long-term rent.
This example is illustrative and not a quote. An investor owns a duplex in Salem worth $520,000 with a current loan balance of $250,000. Each unit rents for $1,650, so total rent is $3,300 a month. Taxes and insurance run $450 a month.
At 75% LTV the new loan is $390,000. At a sample rate of 7.375% on 30-year amortization, principal and interest is about $2,694, and the total payment is about $3,144. DSCR is about 1.05x. After paying off the $250,000 balance and sample closing costs of $8,500, the investor receives about $131,500.
| Item | Amount |
|---|---|
| Appraised value | $520,000 |
| New loan at 75% LTV | $390,000 |
| Existing loan payoff | $250,000 |
| Sample closing costs | $8,500 |
| Cash to investor | About $131,500 |
| Total monthly payment | About $3,144 |
| DSCR at $3,300 rent | About 1.05x |
Send current leases or a rent estimate, the insurance declarations page, a property tax statement and your payoff letter if you are refinancing. For a short-term rental, include the permit and any booking history.
Our financing team reviews your scenario and comes back with 2-3 options, so you can compare leverage, rate and closing costs side by side.
Yes. LendingStreet finances investment property in Oregon, including the Portland metro, Salem, Eugene, Bend and Medford. Loans are business-purpose on non-owner-occupied property and start at $150,000.
It depends on your deal. Kiavi, CoreVest, Angel Oak, Griffin Funding and LendingStreet all write DSCR loans. Compare ratio rules, cash-out limits and STR treatment, not only rate.
Indirectly. Lenders qualify the loan on current lease or market rent, and the cap limits how fast that rent can rise. Plan on today's rent covering the payment rather than counting on future increases.
Portland's permit rules generally favor hosts who live on site, and we finance only non-owner-occupied property. Many Portland rentals will need to qualify on long-term rent. Confirm current city rules.
Yes. 2-4 unit properties qualify on combined rent from all units. Properties with 5 or more units may fit a multifamily or 5+ unit DSCR program.
No. The loan qualifies on the property's rent. You need a 620 or higher credit score, reserves and LLC documents if you borrow through an entity.
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