New York has two very different rental markets: high-value one- to four-family homes in and around New York City, and lower-priced two- and three-family homes in Buffalo, Rochester, Syracuse and Albany. Both often start with short-term money and end with a refinance.
In short: Our top pick for a DSCR rate-and-term refinance in New York is LendingStreet, because it qualifies on the property's rent with no W-2s or tax returns, goes up to 80% LTV on some rate-and-term programs, and covers everything from upstate two-families to high-value city rentals, with jumbo DSCR for larger balances. DSCR loans start at $150,000 with no stated maximum, use a 1.0x standard DSCR minimum with sub-1.0 options, and require a 620 minimum credit score. Every loan is a business-purpose loan on non-owner-occupied investment property.
LendingStreet offers DSCR rate-and-term refinances for 1-8 unit residential investment property in New York. The loan is sized on the property's rent, not your personal income, so there are no W-2s or tax returns to qualify. Rate-and-term refinances go up to 80% LTV on some programs, and the exact figure varies by program, property type and balance. 30-year terms are available and LLC borrowers are standard.
It fits investors holding one- to four-family homes and 5-8 unit buildings in the outer boroughs, Long Island, the Hudson Valley and upstate cities such as Buffalo, Rochester, Syracuse, Albany and Poughkeepsie who want to pay off a hard money loan, a bridge loan, a bank balloon or a higher-cost loan.
Ready to price your refinance? Use 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 for investors in New York, 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 New York investors compare four kinds of lenders when a short-term loan comes due. The other columns describe common patterns, not rules, and any single lender may differ.
The short version: LendingStreet is built for investors who want a long-term loan sized on rent, not on a tax return.
| What matters on a refinance | LendingStreet | Typical bank or credit union | Typical hard money or bridge lender | Typical national online DSCR lender |
|---|---|---|---|---|
| Approval basis | Rent from the property, not personal income | Usually personal income and tax returns | Deal-based; built for short holds | Often rent-based |
| Rate-and-term LTV | Up to 80% on some programs | Varies; often lower on rentals | Not a long-term refinance option | Varies |
| Term | 30-year terms available | Often shorter terms or balloons | Usually short-term only | Often 30-year; varies |
| DSCR minimum | 1.0x standard; sub-1.0 programs | Varies | Not applicable | Varies |
| LLC borrowing | Standard | Varies | Common | Varies |
| Units | 1-8 units residential | Varies | Varies | Often 1-4 units |
| Short-term and long-term loans in one place | Yes | Sometimes | Usually short-term only | Usually DSCR only |
| Coverage | All 50 states and DC | Usually local or regional | Usually local or regional | Varies by state |
Upstate, investors buy two- and three-family homes on Buffalo's West Side, in Rochester's neighborhoods or near Syracuse's universities and hospitals, renovate them with a short-term loan and lease them up. The refinance replaces that short-term loan with a 30-year payment.
Downstate, values are much higher, and many investors hold one- to four-family homes in Queens, Brooklyn, the Bronx, Staten Island or Long Island with bank loans that are coming due. Larger balances can fit our jumbo DSCR program, with max LTV that varies by program.
In both markets, the refinance has to account for one cost most states do not have: the mortgage recording tax.
New York charges a mortgage recording tax on the new loan amount, and the rate varies by county, with higher rates in New York City and many downstate counties. On some refinances, assigning the existing mortgage instead of recording a new one can reduce the tax, but not every loan or program allows it, so ask early.
Property taxes, especially school and county taxes upstate, are high relative to home values. Use the current bills. Several upstate cities run rental registration or certificate programs with inspections, so keep those current.
Rent rules matter too. Rent-stabilized apartments in New York City and some other municipalities have legal rents, and New York City and some other localities have adopted good cause eviction rules. The rent used for DSCR must be rent you can legally collect.
This example is illustrative and not a quote. An investor owns a three-family home in Buffalo, bought with a hard money loan and renovated. The property now appraises at $330,000 and the hard money loan payoff is $236,000. Adding estimated closing costs of $10,500, the new DSCR loan is $246,500, about 74.7% LTV, under the 80% rate-and-term maximum available on some programs (which would be $264,000).
On a 30-year term, estimated principal and interest is about $1,640 a month. Taxes add about $617 and insurance about $225, for a total monthly payment of about $2,482. With $3,450 a month in rent, DSCR is about 1.39x, which clears the 1.0x standard minimum.
Change any one input, such as the tax bill or insurance premium, and the ratio moves. The DSCR calculator lets you test your own figures before you apply.
| Item | Amount |
|---|---|
| Appraised value | $330,000 |
| Hard money loan payoff | $236,000 |
| Estimated closing costs | $10,500 |
| New DSCR loan | $246,500 |
| Loan-to-value | About 74.7% |
| Monthly rent | $3,450 |
| Estimated principal and interest | $1,640 |
| Taxes (monthly) | $617 |
| Insurance (monthly) | $225 |
| Total monthly payment | $2,482 |
| DSCR | About 1.39x |
The right questions make lenders easy to compare.
LendingStreet's answers, in order: up to 80% LTV on some programs; 1.0x standard minimum DSCR, with sub-1.0 programs; seasoning varies by program; LLC borrowing is standard; timing depends mostly on the appraisal, title and a complete file; and there is no stated maximum, with jumbo DSCR for about $1.5M to $5M+ and max LTV that varies by program on larger balances and 5-8 unit buildings.
How long you have owned the property, called seasoning, affects which value a lender will use. Rules vary by program: some can lean on a fresh appraisal after renovation, and others start from the purchase price plus documented improvements for a while. Confirm the rule early if your current loan matures soon.
Give yourself room. A refinance that starts 60 to 90 days before maturity leaves time for the appraisal, title work and any questions about leases.
Rate-and-term means the new loan pays off existing debt and closing costs. If you want to take equity out as well, a cash-out refinance goes up to 75% LTV.
Have these ready, and then use the form below or call (877) 298-1001 to get terms.
We recommend LendingStreet as the top pick in New York: rent-based qualifying with no tax returns, up to 80% LTV on some rate-and-term programs, 30-year terms and standard LLC borrowing from one investor lender.
Yes. LendingStreet lends on investment property throughout New York and in all 50 states and DC. Get a quote with the form below or call (877) 298-1001.
A rate-and-term refinance replaces your existing loan with a new one, usually to get a longer term or a better structure, without taking significant cash out. With LendingStreet it goes up to 80% LTV on some programs. A cash-out refinance goes up to 75% LTV.
Yes. Many investors use a LendingStreet DSCR rate-and-term refinance to pay off hard money, bridge or rehab loans, bank balloons and other higher-cost loans once the property is leased. Seasoning varies by program.
LendingStreet's standard minimum is 1.0x, where rent equals the full payment with taxes, insurance and any HOA dues. Sub-1.0 programs are available, and borrowing a little less also lifts the ratio.
You need at least a 620 credit score. Stronger credit and more equity can help your terms, while the loan itself is qualified on the property's rent.
It is charged on the new loan amount at a rate that varies by county, and it is higher in New York City and many downstate counties. On some refinances, assigning the existing mortgage can reduce the tax, but it depends on the loan and program, so raise it at the start.
No. Every LendingStreet loan is a business-purpose loan on non-owner-occupied rental property of 1 to 8 units.
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