Boise prices climbed fast in recent years, and the Treasure Valley now has a meaningful number of rentals worth $1.5M or more: foothills homes, large Eagle properties and newer small apartment buildings. Rents did not always keep up.
In short: LendingStreet offers jumbo DSCR loans of about $1.5M to $5M+ in the Boise metro, qualified on rent with no W-2s or tax returns. Larger files here include Eagle and foothills homes, North End and East End properties and 5 to 8 unit buildings. Idaho's homeowner exemption does not apply to rentals, and wildfire exposure in the foothills affects insurance.
Boise's North End, East End and Warm Springs have historic and renovated homes close to downtown and the foothills trails. Harris Ranch and the Boise foothills add newer larger homes with views.
West of the city, Eagle has large-lot homes and gated communities, and Meridian, Star and Kuna offer newer subdivisions. Downtown and the Bench area have small multi-unit buildings that lease to young professionals and Boise State staff.
| Type | Where | Issue |
|---|---|---|
| Large foothills or Eagle home | Eagle, Harris Ranch, Boise foothills | Wildfire insurance, comparable leases |
| Historic home | North End, East End, Warm Springs | Older systems, historic district review |
| 5 to 8 unit building | Downtown edges, the Bench, Garden City | New supply and rent competition |
LendingStreet's jumbo DSCR program covers loans of roughly $1.5M to $5M+ for investors buying or refinancing 1 to 8 unit rental property, including cash-out.
Your income is not the test; the property's is. Divide the monthly rent by the full payment, including taxes, insurance and HOA dues, and most programs look for at least 1.0x. Credit starts at 620, title can sit in an LLC and 30-year terms are available. Maximum LTV is 80% on purchases and 75% on cash-out, and a large balance usually means a lower ceiling than that, which varies by program.
Idaho's homeowner exemption reduces taxable value only on a primary residence, so a rental is taxed on its full market value. Ada County reassesses values annually, and the bill depends on the levy for your taxing districts. Use the actual rental tax estimate, not the seller's bill.
Idaho has no real estate transfer tax, so closing costs are mainly title, recording and lender fees. That helps cash-to-close on a large purchase.
Idaho also limits how much local taxing districts can raise their budgets each year, but your share still depends on how your assessed value moves against your neighbors'. In a fast-rising Treasure Valley neighborhood, a rental bought at today's price can carry a noticeably larger bill than a long-held home next door.
This example is illustrative and not a quote. Consider a single high-value rental. An investor buys an Eagle home on a large lot for $2,200,000 and leases it to one household. Rent totals $11,800 a month, with taxes estimated at $1,150 a month and insurance at $500, plus $100 in HOA dues.
Borrowing $1,540,000, which is 70% LTV, gives estimated principal and interest near $10,636 and a full payment near $12,386: a DSCR of about 0.95x. Borrowing $1,320,000 at 60% LTV gives estimated principal and interest near $9,117, a payment near $10,867 and a DSCR of about 1.09x.
Boise-area rents for high-end homes often trail prices, so expect more equity on a jumbo file. Sub-1.0 DSCR programs can help on some files.
| Item | 70% LTV | 60% LTV |
|---|---|---|
| Loan amount | $1,540,000 | $1,320,000 |
| Estimated principal and interest | $10,636 | $9,117 |
| Property taxes | $1,150 | $1,150 |
| Insurance and HOA | $600 | $600 |
| Total monthly payment | $12,386 | $10,867 |
| Monthly rent | $11,800 | $11,800 |
| DSCR | About 0.95x | About 1.09x |
Foothills homes sit near the wildland-urban interface, and some insurers limit coverage or charge more there. Winters are moderate but bring snow and freezing temperatures, and summers are hot and dry. Southwest Idaho also has some earthquake exposure, which standard policies usually exclude; ask whether a separate endorsement makes sense on a high-value home.
Idaho state law limits cities and counties from banning short-term rentals outright, though they can apply health, safety and registration rules. HOAs can still restrict them, and many newer subdivisions do.
If a property qualifies on projected short-term revenue, our STR program can review it. Most Boise jumbo files are underwritten on 12-month leases.
Idaho's landlord-tenant law is relatively balanced and does not cap rents. New apartment supply in Boise and Meridian has given tenants more choices, so price high-end leases against current listings rather than peak-era rents.
Boise is one of the metros in this region where a single rental can reach jumbo size, though rents at the top end often limit leverage.
A bigger loan means a closer look. Plan on more months of reserves, a careful appraisal review and, on some programs, a second appraisal. High-end homes and larger buildings often have few true comparables, which makes signed leases and a solid rent schedule more valuable.
When the numbers land just under 1.0x, lowering the loan amount is usually the simplest fix; sub-1.0 programs are another option.
Refinancing is common at this size. Cash-out tops out at 75% LTV and is often lower on large loans, rate-and-term can reach 80% on some programs, and seasoning requirements for cash-out vary by program.
Send these with your request and the first answer will be more useful.
Our investor loans are business-purpose loans on non-owner-occupied property. See our Idaho jumbo DSCR page for statewide context.
Tell us the property, the rent and the loan amount you have in mind. We will check the DSCR at more than one loan size using local tax and insurance figures, then lay out the options. Use the form below to get a quote, or call (877) 298-1001.
No. It applies only to a primary residence, so rentals are taxed on full market value.
As big as its rent supports. Jumbo DSCR loans run about $1.5M to $5M+, with no stated maximum, but the property still has to cover the full payment, usually at 1.0x or better.
Idaho law limits outright bans, but cities can impose health and safety rules, and HOAs can prohibit STRs. Check both.
No. Jumbo DSCR loans qualify on the property's rent compared with its payment. You still need a 620 minimum credit score, reserves and documentation of your down payment.
It can be. Some carriers limit coverage or charge more. Get quotes early.
Yes. Most of our jumbo DSCR borrowers close in an LLC. Bring the articles, operating agreement and EIN letter, and expect to sign for the loan personally.
No. Our investor loans are business-purpose loans on non-owner-occupied property, and that applies to every unit.
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