A $1M+ rental in New York can mean a Westchester colonial, a Brooklyn brownstone, a Hudson Valley estate or a six-unit walk-up in Queens. Each raises different questions about taxes, rent rules and leverage.
In short: Our top pick for jumbo DSCR in New York is LendingStreet. We finance high-value 1-8 unit rentals from about $1.5M to $5M+, qualify on the property's rent with no W-2s or tax returns, and lend to LLCs as standard. New York adds a mortgage recording tax, steep suburban property taxes and rent rules that can apply to 6+ unit buildings, so the right lender has to underwrite those costs realistically. We do.
LendingStreet finances high-value 1-8 unit rentals in New York with jumbo DSCR loans of about $1.5M to $5M+, for purchases, rate-and-term refinances and cash-out refinances. The loan qualifies on the property's rent, not your W-2s or tax returns, and LLC borrowers are standard. 30-year terms are available, and the minimum credit score is 620. Loans start at $150,000 with no stated maximum, so a portfolio of New York rentals at different price levels can stay with one lender.
Who it fits: investors buying or refinancing luxury single-family rentals in Westchester and Long Island, brownstones and small multifamily buildings in Brooklyn and Queens, and high-value homes upstate, such as Saratoga Springs or the Hudson Valley, who want 30-year financing in an LLC.
Larger balances get a closer review, and max LTV can be lower than our 80% purchase and 75% cash-out maximums (varies by program). The next step is simple: get a quote with the form below or call (877) 298-1001.
If you are weighing Angel Oak, CoreVest, Dominion Financial, LendingOne, Lima One, New Silver, RCN Capital and Roc Capital for a jumbo DSCR 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 of $3M to $5M+ | LendingStreet | Our DSCR loans have no stated maximum. Angel Oak and New Silver state DSCR maximums of $3 million, and Roc Capital states $2MM for single rentals. |
| 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. |
| 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. |
In New York City, large rental loans often involve Brooklyn brownstones in Park Slope, Fort Greene and Bedford-Stuyvesant, two- to four-family homes in Astoria and other parts of Queens, and condos and townhouses in Manhattan.
North of the city, Westchester towns such as Scarsdale, Rye, Bronxville and Chappaqua have large single-family homes that rent to executives and relocating families. On Long Island, Nassau County's North Shore and the Hamptons carry some of the highest values in the state.
Most New York investors with a large rental end up choosing among a few kinds of lenders: a local bank or credit union, a local hard money lender, a national online DSCR lender or a private individual. Here is how they line up on what matters for a $1M+ long-term rental.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualify on rent, no W-2s or tax returns | Yes, DSCR loans qualify on the property's rent | Usually full income documents and tax returns | Often asset based, but for short-term loans |
| Loan size above $1.5M | From $150,000 with no stated maximum; jumbo DSCR about $1.5M to $5M+ | Varies; large balances may depend on a deposit relationship | Varies; usually short-term balances |
| Long-term financing | 30-year terms available | Varies; investment loans are often shorter or adjustable | Usually short-term only |
| LLC borrowers | Standard | Varies; some lend only to individuals | Common |
| 5-8 unit buildings | Covered as residential DSCR (1-8 units) | Often treated as commercial | Varies |
| Cash-out refinance | Up to 75% LTV; varies by program on large balances | Varies; often income documents and seasoning rules | Short-term only |
| Handles NYC and suburban tax costs in the ratio | Yes; we underwrite on realistic taxes and recording costs | Varies | Varies; short-term focus |
| Where they lend | All 50 states and DC | Usually a local or regional footprint | Often local or regional |
New York charges a mortgage recording tax when a mortgage is recorded, and the rate is higher in New York City and the surrounding commuter counties than in much of upstate. On a refinance, a consolidation, extension and modification agreement (CEMA) can often reduce it by assigning the existing mortgage instead of recording a brand-new one, so ask about it early.
Buyers in New York City and elsewhere in the state also face transfer taxes, and New York applies an additional "mansion tax" on many residential purchases of $1M or more, generally paid by the buyer. Confirm the numbers with your closing attorney.
Westchester and Long Island property taxes are steep, and STAR and other exemptions a seller had generally do not carry over to an investor.
This example is illustrative and not a quote. An investor buys a Rye single-family home for $1,900,000 that leases for $13,500 a month. Property taxes are budgeted at $3,200 a month with no exemptions, and insurance is $450.
At 75% LTV the loan is $1,425,000 and estimated principal and interest on a 30-year term is about $9,600. Add $3,200 in taxes and $450 in insurance, and the monthly payment is about $13,250, for a DSCR of about 1.02x.
At 70% LTV the loan drops to $1,330,000, estimated principal and interest falls to about $8,960, the total payment is about $12,610 and DSCR rises to about 1.07x. The investor brings about $95,000 more to closing. At this balance, max LTV can be lower than 80%, and it varies by program, so modeling two loan sizes is a smart habit on any Westchester purchase.
| Item | 75% LTV | 70% LTV |
|---|---|---|
| Loan amount | $1,425,000 | $1,330,000 |
| Estimated principal and interest | $9,600 | $8,960 |
| Property taxes | $3,200 | $3,200 |
| Insurance | $450 | $450 |
| Total monthly payment | $13,250 | $12,610 |
| DSCR at $13,500 rent | About 1.02x | About 1.07x |
Our residential DSCR program covers buildings of 1 to 8 units, which takes in many Brooklyn and Queens walk-ups and small upstate buildings. Max LTV on 5-8 units can be lower and varies by program. Buildings with 9 or more units are commercial loans (see /commercial.html).
Rent rules matter more here than almost anywhere. In New York City, buildings with six or more units built before 1974 are often subject to rent stabilization, which limits rent increases and can cap the rent we can use in the ratio. New York also adopted a good cause eviction law in 2024 that applies in New York City and in localities that opt in, with exemptions. Confirm which rules apply before you price the deal.
New York City sharply restricts short-term rentals: stays under 30 days generally require the host to be present, which rules out most investor-owned units. Hamptons, Hudson Valley and Adirondack towns set their own permit rules. Check with the town or county before you rely on nightly income.
Most New York jumbo DSCR loans are underwritten on 12-month leases. Where a property can legally operate as a short-term rental, some of our STR programs qualify on projected revenue (see /str.html).
Before you sign a contract or start a refinance, ask every lender the same questions. Answers on a large balance often differ from what is advertised for smaller loans.
Here is how LendingStreet answers: purchases go up to 80% LTV and cash-out up to 75%, with max LTV that can be lower on 5-8 units and larger balances (varies by program). The standard minimum DSCR is 1.0x, and sub-1.0 programs exist. Cash-out seasoning varies by program. LLC borrowers are standard. DSCR loans start at $150,000 with no stated maximum, and jumbo DSCR covers about $1.5M to $5M+. We walk you through the timeline when we issue terms. To start, get a quote with the form below or call (877) 298-1001.
A complete file moves faster. For a large New York rental, have these items ready when you get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet. We offer jumbo DSCR loans of about $1.5M to $5M+ on 1-8 unit rentals in New York, qualify on the property's rent with no W-2s or tax returns, lend to LLCs as standard and offer 30-year terms. Get a quote with the form below or call (877) 298-1001.
Yes. LendingStreet lends in all 50 states and DC, including all of New York, on business-purpose loans for non-owner-occupied investment property.
Yes, if it is a non-owner-occupied rental of 1-8 units. We qualify on the rent from all units.
Generally yes. On a refinance, a CEMA can often reduce it.
Rent stabilization affects the rent we can use in the ratio, so the building has to work on its legal regulated rents. Share the registration history up front.
Loans start at $150,000 with no stated maximum, and jumbo DSCR runs about $1.5M to $5M+.
No. Our investor loans are business-purpose loans on non-owner-occupied property only. If you or your family will live in the home, it does not fit this program.
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