Salt Lake City has some of the higher home prices in the Mountain West and rents that have not always kept pace. That makes the lender's leverage limits and DSCR rules matter more here than in many cities.
In short: Our top pick for DSCR loans in Salt Lake City is LendingStreet. We qualify on the property's rent with no W-2s or tax returns, lend to LLCs as standard and offer 30-year terms, with purchases up to 80% LTV and cash-out up to 75%. Loans start at $150,000 with no stated maximum, and our sub-1.0 DSCR programs help when Wasatch Front prices squeeze the ratio.
Investors choose LendingStreet because the loan follows the property. We qualify on rent instead of tax returns or W-2s, we lend to LLCs as a matter of course, and we offer 30-year terms on loans from $150,000 with no stated maximum.
It fits investors buying duplexes and single-family rentals in Salt Lake and Utah counties, landlords refinancing finished rehabs, and owners pulling equity out of rentals bought before the last run-up in prices. We lend across Utah and in all 50 states and DC.
Ready to price a deal? Use the form below or call (877) 298-1001, and bring the address, the rent and your target leverage.
If you are weighing CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital for a DSCR loan for investors in Salt Lake City, UT, this is the short version: LendingStreet wins the scenarios below, and you can get a quote with the form below.
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. |
There is no single type of lender that fits every Salt Lake deal. Banks and credit unions, local hard money lenders, national online DSCR lenders and private individuals all lend on rentals in different ways. Here is a fair, general comparison for a property you plan to keep.
Private lenders and hard money can bridge a rehab, and some banks lend well on rentals. When the goal is to hold, LendingStreet offers the long-term, rent-based structure most investors are looking for.
| 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 |
Close to downtown, the Avenues, Sugar House, Liberty Wells and the 9th and 9th area have older bungalows, duplexes and small multifamily buildings that lease to students, hospital staff and young professionals. Rose Park, Glendale and Poplar Grove on the west side offer lower prices and a mix of postwar homes.
Across the valley, Millcreek, Murray, West Valley City, Taylorsville and South Salt Lake have large stocks of single-family rentals and townhomes. Farther south, Sandy, South Jordan, Herriman and Lehi add newer homes, often with HOA leasing rules. Rents vary a lot by school district and commute, so use recent leases nearby.
Utah gives residential property used as a primary residence a 45% exemption from taxable value, and that can include a long-term rental that is a tenant's primary residence. Short-term rentals and second homes generally do not qualify. Counties may ask owners to document how a rental is used, so confirm the exemption status with the county assessor and budget accordingly.
Utah does not charge a real estate transfer tax, which keeps closing costs lower than in many states. Title, recording and lender costs still apply. Insurance is generally moderate, but the Wasatch Front sits on an active fault, and earthquake coverage is separate and optional. Hillside homes may also face wildfire questions from insurers.
Salt Lake City requires a business license for many residential rentals, and some suburbs have their own good landlord or licensing programs. Utah's landlord-tenant law covers deposits and notices. Check with the city where the property sits.
Short-term rentals of under 30 days are restricted in most residential zones in Salt Lake City, so investors should not count on nightly income there. For STR investing in Utah, look at mountain and resort-area markets where they are allowed, and confirm the county or town rules. Most Salt Lake DSCR loans are based on 12-month leases.
This example is illustrative and not a quote. An investor buys a duplex near Sugar House for $560,000. Each unit leases for $1,750 on a 12-month lease, so rent is $3,500 a month. With the primary residential exemption applied, taxes are budgeted at $270 a month. Insurance is $130.
At 75% LTV the loan is $420,000 and estimated principal and interest is about $2,830. The total payment is about $3,230, and DSCR is about 1.08x. If the property did not qualify for the exemption and taxes were $490 a month, the payment would be about $3,450 and DSCR about 1.01x.
| Item | With exemption | Without exemption |
|---|---|---|
| Loan amount | $420,000 | $420,000 |
| Estimated principal and interest | $2,830 | $2,830 |
| Property taxes | $270 | $490 |
| Insurance | $130 | $130 |
| Total monthly payment | $3,230 | $3,450 |
| DSCR | About 1.08x | About 1.01x |
Many Salt Lake investors bought rentals years ago at much lower prices. A cash-out refinance up to 75% LTV can release that equity, as long as the rent supports the new payment. Seasoning varies by program, and on higher-value homes the maximum LTV can be lower, which varies by program.
If the ratio is tight, a smaller loan or a sub-1.0 DSCR program may work. Get a quote with the form below or call (877) 298-1001 and we will size it with you.
Whoever you talk to, put these questions on the table early. The answers tell you more than a headline offer.
For the record, LendingStreet offers up to 80% LTV on purchases and up to 75% on cash-out refinances, a standard 1.0x minimum DSCR plus sub-1.0 programs, seasoning that varies by program and standard LLC borrowing. Your quote comes with a timeline built around your file. Loans start at $150,000 with no stated maximum, and on larger balances max LTV can be lower and 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 up to 80% LTV on purchases, and offer sub-1.0 DSCR programs for higher-priced Salt Lake rentals.
Yes. LendingStreet lends on 1 to 8 unit investment rentals in Salt Lake City, Salt Lake County, Utah County, Davis County and across Utah, and in all 50 states and DC.
It can, if the property is a tenant's primary residence on a long-term lease. Short-term rentals generally do not qualify. Confirm with the county assessor.
Only if it can legally operate, and the city restricts stays under 30 days in most residential zones. Utah's resort markets are better candidates; confirm local rules.
No. Utah does not charge a real estate transfer tax, though title, recording and lender costs still apply.
A lower loan amount often fixes it, or a sub-1.0 DSCR program may fit. We can run both scenarios.
No. Our loans are business-purpose loans on non-owner-occupied investment property only.
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