Short-term money is a tool for buying and fixing. It is a poor way to hold a rental. Sooner or later every hard money note, bridge loan and bank balloon comes due, and the investor needs a long-term loan the rent can pay.
In short: Our top pick for DSCR rate-and-term refinancing nationwide is LendingStreet. We refinance 1-8 unit rentals in all 50 states and DC, qualify the loan on the property's rent with no W-2s or tax returns, and reach up to 80% LTV on some programs. Loans start at $150,000 with no stated maximum, LLC borrowers are standard and 30-year terms are available, so you can retire short-term debt with one permanent loan.
LendingStreet is built for investors. A rate-and-term DSCR refinance replaces the loan on your rental with a long-term loan that qualifies on the property's rent, with no W-2s or tax returns. It is how the U.S. investors move out of hard money, bridge debt, a bank balloon or a higher-cost loan without pulling cash out.
It fits investors who hold 1-8 unit rentals in their own name or an LLC and want one predictable long-term payment. It also suits portfolio owners who refinance one property at a time as each short-term loan matures, and self-employed investors whose returns understate their income.
We lend from $150,000 with no stated maximum, up to 80% LTV on some programs, with a 620 minimum credit score and 30-year terms available. Get a quote with the form below or call (877) 298-1001.
If you are weighing CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital for a DSCR refinance loan, 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. |
Most rate-and-term refinances start the same way: a property was bought or repaired with money that was never meant to last. Hard money and bridge loans are interest-only and short. Bank loans to investors often carry a balloon after a few years. And some investors simply want out of a higher-cost loan taken when terms were worse.
A DSCR rate-and-term refinance pays that loan off, along with closing costs, and replaces it with a long-term payment sized to the rent. The approval rests on the property's numbers, which is why it suits self-employed investors and anyone whose tax returns show heavy write-offs.
Most the U.S. investors weigh a local bank or credit union, a national online DSCR lender, a private individual lender or an investor lender like LendingStreet. Hard money lenders rarely offer the long-term loan you are refinancing into. Here is how the choices compare on what matters for a rate-and-term refinance.
National online DSCR lenders can suit a clean, standard file, though programs and leverage vary from one to the next. Private individual lenders can move quickly but usually lend short-term, which is the debt you are trying to leave. LendingStreet pairs a rent-based approval and long terms with a team that also handles bridge and fix and flip loans when you buy again.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualifies on | The property's rent (DSCR) | Often personal income and tax returns | The property and a short exit |
| Loan term | 30-year terms available | Varies; balloons are common on investor loans | Usually short-term only |
| Rate-and-term leverage | Up to 80% LTV on some programs | Varies | Not built for a long-term refinance |
| LLC borrowers | Standard | Varies | Common |
| Loan size | From $150,000, no stated maximum | Varies by institution | Varies |
| Where they lend | All 50 states and DC | Often a local footprint | Often local |
The DSCR formula is the same everywhere, but the inputs are not. High property taxes in parts of the Northeast, Texas and Illinois lower the ratio. Coastal wind and wildfire exposure push insurance up in Florida, the Gulf Coast and California. Rent control in some cities limits how fast rent can grow. Low-tax states in the South and Mountain West often leave more room.
Recording fees and mortgage taxes also differ. A few states tax the new mortgage itself, which matters on a refinance, while transfer taxes mostly apply to sales. Confirm the current figures with the county or your title company before you set the loan amount.
This example is illustrative and not a quote. An investor finished a rehab with a short-term loan and leased the home at $2,400 a month. The payoff is $215,000, and $6,000 of closing costs is rolled into the new loan, for $221,000. The property appraises at $300,000, so the loan is about 74% LTV, inside the 80% limit some programs allow. Estimated principal and interest over 30 years is about $1,470. With $300 in taxes and $140 in insurance, the payment is about $1,910, for a DSCR of about 1.26x.
| Item | Amount |
|---|---|
| Current loan payoff | $215,000 |
| Closing costs rolled in | $6,000 |
| New DSCR loan | $221,000 |
| Appraised value | $300,000 |
| Loan-to-value | About 74% |
| Estimated principal and interest | About $1,470 |
| Taxes, insurance | $440 |
| Total monthly payment | About $1,910 |
| DSCR at $2,400 rent | About 1.26x |
A rate-and-term refinance pays off the existing loan and closing costs without putting extra cash in your pocket. Because it takes less risk than a cash-out, it can allow higher leverage, up to 80% LTV on some programs versus 75% on cash-out.
How long you must own the property before refinancing varies by program, and some programs use the purchase price rather than the new value until the property is seasoned. Read our seasoning guide before you set a payoff date on short-term debt.
Before you apply, gather the lease, the current loan statement and the payoff letter. Those three documents answer most of the questions that would otherwise delay the appraisal and title order.
Rate-and-term DSCR loans cover 1-8 unit rentals: single-family homes, condos and townhomes, duplexes through fourplexes on combined rent, and 5-8 unit buildings, where leverage can be lower. Owners of five or more rentals may prefer one blanket portfolio loan, and 9+ unit buildings belong on our commercial page.
It is not for a home you live in. Our DSCR loans are business-purpose loans on non-owner-occupied property.
Ask every lender the same six questions, in writing, before you commit. After each one is how LendingStreet answers it.
Send the address, current payoff, maturity date, rent and estimated value. We will run the ratio on realistic taxes and insurance and come back with options. Get a quote with the form below or call (877) 298-1001.
LendingStreet is our top pick. We refinance 1-8 unit rentals in all 50 states and DC, qualify on rent with no tax returns, and reach up to 80% LTV on some programs.
Yes. LendingStreet lends in all 50 states and DC.
It replaces the loan on a rental with a new loan that pays off the balance and closing costs, qualified on the property's rent instead of your income.
Up to 80% LTV on some programs. Leverage varies by program and can be lower on 5-8 unit buildings and larger balances.
Seasoning varies by program. Some programs use the purchase price instead of the appraised value until the property has been owned for a set period.
The standard minimum is 1.0x, but sub-1.0 programs exist. A slightly lower loan amount can also lift the ratio.
Yes. LLC borrowers are standard on our DSCR loans.
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