Dayton is one of the more affordable rental markets in the Midwest, anchored by Wright-Patterson Air Force Base, two hospital systems and the University of Dayton. That affordability means a jumbo loan here almost always covers many properties at once.
In short: LendingStreet offers jumbo DSCR loans of about $1.5M to $5M+ for Dayton-area investors, qualified on rent with no W-2s or tax returns. In the Miami Valley, those balances usually come from portfolios of single-family homes and doubles, small apartment buildings or a few high-end homes in Oakwood and Washington Township. Montgomery County's levies and local inspection rules are the items to check.
Kettering, Huber Heights, Fairborn and Beavercreek have steady single-family rentals that lease to Wright-Patterson personnel and contractors. Belmont, Walnut Hills and the Old North Dayton area have older homes and doubles at lower prices.
Oakwood, Washington Township and Centerville have the metro's larger homes. Near downtown, the Oregon District and St. Anne's Hill have historic homes, and the University of Dayton area has student houses.
Premier Health and Kettering Health are major employers, and the base and its defense contractors support steady demand in the eastern suburbs. Prices are low relative to rents compared with many metros, which is why Dayton portfolios often show strong coverage.
| Route | Areas | Check |
|---|---|---|
| Portfolio of single-family homes | Kettering, Huber Heights, Fairborn, Riverside | Combined rent and each city's rental rules |
| Student houses | Near the University of Dayton | Occupancy limits and academic leases |
| Larger home | Oakwood, Washington Township, Centerville | Few comparable leases |
A jumbo DSCR loan is a debt service coverage ratio loan with a larger balance, roughly $1.5M to $5M+ at LendingStreet. It covers purchases, rate-and-term refinances and cash-out refinances on 1 to 8 unit rentals held for investment.
Qualification rests on the property's rent compared with the full monthly payment, not on W-2s or tax returns. The standard minimum DSCR is 1.0x, the minimum credit score is 620, LLC borrowers are standard and 30-year terms are available. Purchases go up to 80% LTV and cash-out up to 75% LTV, but on bigger balances the maximum is often lower and varies by program.
Ohio taxes on a 35% assessment ratio. Montgomery County reappraises on Ohio's six-year cycle with updates in between, and Greene County, home to Beavercreek and Fairborn, runs its own schedule. School levies drive most differences between suburbs.
Owner-occupancy credits do not apply to rentals. On a portfolio spanning Dayton, Kettering and Huber Heights, pull each parcel's bill rather than averaging.
Dayton's recent reappraisal raised many residential values, and new school levies can add to bills after you buy. If a levy is on an upcoming ballot in a district where you hold several rentals, run the ratio with it passed to see how much cushion you have.
This example is illustrative and not a quote. Consider a portfolio refinance. An investor owns 20 single-family rentals in Kettering, Huber Heights and Riverside, worth $2,000,000 together. Rent totals $22,000 a month, with taxes estimated at $3,300 a month and insurance at $1,700.
Borrowing $1,500,000, which is 75% LTV, gives estimated principal and interest near $10,360 and a full payment near $15,360: a DSCR of about 1.43x. Borrowing $1,300,000 at 65% LTV gives estimated principal and interest near $8,979, a payment near $13,979 and a DSCR of about 1.57x.
A blanket loan combines the 20 homes into one closing and one payment, qualified on combined cash flow, with release provisions for later sales.
| Item | 75% LTV | 65% LTV |
|---|---|---|
| Loan amount | $1,500,000 | $1,300,000 |
| Estimated principal and interest | $10,360 | $8,979 |
| Property taxes | $3,300 | $3,300 |
| Insurance | $1,700 | $1,700 |
| Total monthly payment | $15,360 | $13,979 |
| Monthly rent | $22,000 | $22,000 |
| DSCR | About 1.43x | About 1.57x |
The Miami Valley sees severe storms and occasional tornadoes; the 2019 Memorial Day tornadoes damaged parts of Trotwood, Dayton and Beavercreek. Older homes may have aging roofs, furnaces and electrical, and insurers price a portfolio by its weakest roofs as much as its average.
Dayton and several suburbs have rental registration or inspection programs, and some require inspections at sale. Check each city before closing, and keep a list of which homes are registered where.
Military tenants may end leases early under the Servicemembers Civil Relief Act when they receive orders. Most jumbo files here run on 12-month leases, and student houses near the University of Dayton follow the academic year, with occupancy limits for unrelated tenants.
Single rentals at $1.5M+ are rare in Dayton. Jumbo here usually means a portfolio of 15 or more homes, sometimes a group of small buildings.
Large balances get more scrutiny. Reserve requirements are often higher, the appraisal review is more detailed and some programs ask for a second appraisal. Comparable sales and comparable leases can be thin at the top of a market, so be ready to support both value and rent.
If the ratio comes up short, the usual fixes are a larger down payment, a different loan amount or a sub-1.0 DSCR program where one fits.
On a cash-out refinance, maximum LTV is up to 75% and often lower on a big balance, and how long you must own the property first varies by program. Rate-and-term refinances can go up to 80% LTV on some programs.
Gather these before you ask for terms; a complete package gets a faster answer.
Our investor loans are business-purpose loans on non-owner-occupied property. See our Ohio 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.
Yes, on a blanket portfolio loan for five or more properties, even though they sit in different counties. The loan qualifies on the combined cash flow.
Our jumbo DSCR loans run from about $1.5M to $5M+. DSCR programs have no stated maximum, but larger balances are reviewed case by case and usually carry lower maximum LTV and higher reserves.
Underwriting uses the lease or market rent, not the tenant's assignment. Plan reserves for early lease endings when service members receive orders.
No. The loan is qualified on the rental's cash flow, not your W-2s or tax returns. Credit (620 minimum), reserves and the source of your down payment are still reviewed.
Several do, and some inspect at sale. Check each city's rules before closing so a failed inspection does not hold up leasing.
Yes, LLC ownership is standard on DSCR loans. Have the entity documents ready, and plan to sign for the loan personally.
No. Our investor loans are business-purpose loans on non-owner-occupied property held as rentals.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.