No W-2. No Tax Returns.
A DSCR loan in Louisville qualifies on the property's rent rather than your W-2 or tax returns — business-purpose financing for non-owner-occupied rentals, available to LLCs as standard. What makes Louisville its own underwriting problem: Kentucky is a judicial foreclosure state, which lengthens recovery and makes some capital sources more conservative on leverage than across the river in Indiana. That is exactly the kind of variable that one lender's credit box handles badly and thirty handle well, which is how LendingStreet places the file.
Check My Louisville Rental Loan Options →The economy runs on UPS Worldport, Humana, Ford's two assembly plants, Norton and Baptist Health systems and the University of Louisville. The rental stock is shotgun houses and camelbacks in Germantown and Schnitzelburg, large Victorian stock in Old Louisville, and post-war ranches in the south and east.
Kentucky is a judicial foreclosure state, which lengthens recovery and makes some capital sources more conservative on leverage than across the river in Indiana. The Indiana side of the metro — New Albany, Jeffersonville — is non-judicial and often prices better for the same deal. Louisville Metro requires rental registration.
Local landlord-tenant rules in Louisville affect eviction timelines and therefore how some capital sources view the collateral. It does not change your eligibility; it changes which sources are comfortable and at what leverage.
The metro straddles jurisdictions. Which side of the line the property sits on changes the foreclosure regime, the tax structure and sometimes the tenant law — underwrite the address, not the metro.
Standard ranges across our capital sources: $150,000 to $3.5M, up to 80% LTV on purchase and 75% on cash-out, 1.00 minimum ratio with sub-1.0 and no-ratio at select sources, 660 credit standard with 640 and 620 tiers, 30-year fixed, LLC vesting with personal guaranty, 14 to 21 days to close. Full detail and the current rate floor are on the DSCR loan page. The figures on your file depend on the source, the property and the ratio.
The Louisville metro — Louisville plus New Albany, IN, Jeffersonville, IN, Clarksville, IN, St. Matthews, Shively and Okolona — and the rest of Kentucky via the Kentucky DSCR page. Investor activity in Louisville concentrates in Germantown, Schnitzelburg, Highlands, Clifton, Shelby Park; the loan is underwritten identically anywhere in the metro.
Run the ratio in the DSCR calculator with real Louisville tax and insurance figures before you submit — those lines decide more ratios here than the rate does.
Also see: Chicago, IL →Cincinnati, OH →
Yes — Louisville, New Albany, IN, Jeffersonville, IN, Clarksville, IN, St. Matthews, Shively and Okolona, and the rest of Kentucky.
It affects the lender's side. A faster recovery timeline widens the pool of sources comfortable writing there; a slower one makes some conservative on leverage. We account for it in placement.
Derby week and Bourbon Trail tourism support STR income near downtown and the Highlands; the city regulates STRs by zone and requires registration.
Yes. Different jurisdictions in the same metro carry different foreclosure regimes, tax structures and sometimes tenant law. We underwrite the address.
Not your eligibility — which capital sources are comfortable and at what leverage. We place around it.
Typically 14 to 21 days from a complete file. Appraisal is the longest fixed step.
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