Denver investors with $1M+ deals tend to fall into three groups: in-city duplexes and modern rowhomes, larger homes in the foothills and suburbs, and vacation rentals up the I-70 corridor. Each one is underwritten a little differently on a DSCR loan.
In short: LendingStreet finances $1M+ rentals in Denver and the surrounding Front Range with DSCR loans that qualify on the property's rent, with no W-2s or tax returns. Loans start at $150,000 with no stated maximum, rates start at 6.125% for well-qualified borrowers, and short-term rental DSCR starts at 6.49%. Purchases go up to 80% LTV and cash-out up to 75%, though large balances often get less leverage and need more reserves. In the City and County of Denver, short-term rentals are generally limited to a host's primary residence, so most investor loans there qualify on long-term rent, while mountain-town STRs depend on each town's licensing rules.
The property type sets the rent type, and the rent type sets the loan. This table shows how the three common paths usually compare. Details vary by program and location.
| Item | In-city duplex or rowhome | Foothills or suburban home | Mountain-town vacation rental |
|---|---|---|---|
| Example areas | Highlands, Sloan's Lake, Washington Park, Congress Park, Platt Park | Golden, Evergreen, Boulder, Littleton, Castle Rock | Towns along I-70 and in the high country |
| Rent used | Long-term leases | Long-term leases | Projected STR revenue, if licensable |
| Main approval issue | Ratio at city prices | Wildfire and hail insurance | Town STR license and caps |
| Rates from | 6.125% | 6.125% | 6.49% (STR DSCR) |
| Leverage on a large balance | Often lower; varies by program | Often lower; varies by program | Often lower; varies by program |
Over the past two decades, many older Denver bungalows were replaced with modern side-by-side duplexes and rowhomes, especially in the Highlands, Sloan's Lake, Berkeley and Sunnyside. Each side is often sold separately as its own property, which matters for financing. Buying both halves of a duplex on one deed gives you two rents; buying one side gives you one.
Washington Park, Cherry Creek, Congress Park and Platt Park have higher-priced single-family homes. On one rent, those tend to need more equity to reach a 1.0x ratio.
Denver requires a residential rental license for long-term rentals, which involves an inspection. Have the license, or a clear plan to get it, ready before you close.
In the City and County of Denver, short-term rentals generally must be the host's primary residence and require a license. An investor who does not live in the home typically cannot run it as a nightly rental, so plan on long-term or 30-day-plus rent.
Mountain resort towns and counties have their own systems. Many require STR licenses, and some cap the number of licenses or limit them by zone. Rules have changed often in recent years, and taxes and fees on STRs vary by town.
If you are buying a mountain property on projected revenue, confirm the license status and transfer rules with the town or county first. Our STR DSCR program can qualify on projected revenue only if the property can legally operate.
West of Denver, Golden, Evergreen, Genesee and Conifer offer larger homes on bigger lots, and Boulder adds a university-driven rental market with tight local land-use rules. South of the city, Littleton, Greenwood Village, Highlands Ranch and Castle Rock have newer suburban homes near major employment centers.
These properties often lease well to families and relocating professionals, but they raise questions an in-city duplex does not. Appraisers may have fewer close comparable sales for large or unusual homes. Well and septic systems, private road maintenance and winter access can come up on mountain-adjacent properties. Insurers look hard at wildfire exposure.
None of these are deal breakers by themselves. They are reasons to send the property details to the financing team early, before you are deep into the contract period.
The Front Range is one of the most hail-prone areas in the country, and insurers have responded with higher premiums and larger roof deductibles. Homes in the foothills and in wooded or grassland areas also face wildfire risk, a concern highlighted by the 2021 Marshall Fire in Boulder County.
On a large loan, the premium comes straight out of the ratio. Some foothills properties have trouble getting coverage at all from standard carriers. Get a quote during your inspection period and include it in your numbers.
This example is illustrative and not a quote. An investor buys both sides of a modern duplex in the Highlands on one deed for $1,300,000. Each side leases for $4,000 a month, for $8,000 in total. Taxes are budgeted at $550 a month and insurance at $300.
At 75% LTV the loan is $975,000 and the down payment is $325,000. At a sample rate of 7.25% on a 30-year fixed, principal and interest is about $6,651. The total payment is about $7,501, and DSCR is $8,000 divided by $7,501, or about 1.07x.
If the program limits this balance to 70% LTV, the loan is $910,000 and principal and interest is about $6,208, the total payment is about $7,058 and DSCR rises to about 1.13x, but the investor brings $65,000 more to closing.
| Item | Amount |
|---|---|
| Purchase price | $1,300,000 |
| Loan at 75% LTV | $975,000 |
| Principal and interest at 7.25%, 30 years | $6,651 |
| Taxes and insurance | $850 |
| Total monthly payment | $7,501 |
| Combined rent | $8,000 |
| DSCR | About 1.07x |
Colorado state law has long barred local governments from enacting rent control on private housing, though bills to change that have been introduced. In 2024 the state also adopted a law generally requiring cause for many evictions, with exceptions. Confirm current rules with a Colorado attorney if your plan depends on lease changes.
Property taxes in Colorado have been the subject of repeated legislative changes in recent years, so use the county assessor's current figures for the specific property. HOA rules in many suburban communities also limit rentals or set minimum lease terms.
Metro districts are another Front Range detail. Many newer suburban neighborhoods sit inside special districts that levy their own property taxes to pay for roads, water and parks. Those taxes show up on the county bill and can be a meaningful part of the payment, so check whether the property is in one before you set your offer.
Denver's renter base at the upper end includes professionals in energy, aerospace, health care, finance and tech, plus people relocating to the Front Range for its outdoor lifestyle. Many rent for a year or two before buying, which supports demand for move-in-ready duplexes and larger suburban homes.
Boulder's rental market is shaped by the University of Colorado and research employers, while the southern suburbs draw families near the Denver Tech Center. For underwriting, though, the appraiser's market rent is what counts, so recent signed leases on similar homes are the best evidence you can bring.
The basics stay the same at any size: the loan qualifies on rent, there are no W-2s or tax returns, the minimum credit score is 620 and LLC borrowers are allowed, with 30-year fixed options.
On larger balances, maximum LTV is often lower, reserve requirements are often higher, and some programs require a second appraisal or a more detailed review. Mountain properties can take longer to appraise because comparable sales are fewer and more spread out. Pricing on large loans is set case by case.
Many Denver investors finance in the $500K to $1M range. Typical properties include single-family homes and older duplexes in neighborhoods like Harvey Park, Regis, Berkeley and Park Hill, townhomes and newer rowhomes, and suburban rentals in Lakewood, Arvada, Englewood, Aurora and Centennial.
Below $1M, leverage is often nearer the program maximums: up to 80% LTV on a purchase and up to 75% on a cash-out refinance. Reserves are often lighter than on a $1M+ file, but both vary by program, and the ratio still has to clear the 1.0x standard minimum.
Denver's STR rules still matter at any size. Short-term rentals in the city generally must be the host's primary residence, so most in-city DSCR loans qualify on long-term rent. Confirm current rules with the city before you count on nightly income.
LendingStreet is an investment property financing company. We finance business-purpose loans on non-owner-occupied rentals across the Denver metro, the foothills and Colorado's mountain markets.
A complete file gets a faster, clearer answer. Have these items ready when you reach out.
Send the address, price, rent type and target leverage. The financing team will check the ratio at a few loan amounts, flag licensing or insurance issues and come back with 2-3 options.
In the City and County of Denver, STRs generally must be the host's primary residence, so investor-owned homes are usually financed on long-term rent. Mountain towns have their own licensing rules.
Yes, if the property can be licensed as a short-term rental under local rules. STR DSCR loans qualify on projected revenue, with rates from 6.49% for qualified borrowers. Confirm license availability first.
No. If each side is its own property, buying one side is a single-unit purchase with one rent. Buying both sides on one deed gives you two rents.
Mainly through insurance cost. Higher premiums or required coverage raise the payment and lower the ratio. A newer, impact-resistant roof can help.
Our DSCR programs have no stated maximum. Loans start at $150,000, and larger balances are reviewed and priced case by case. On larger loans, maximum LTV is often lower and reserve requirements higher.
It is a special taxing district common in newer Colorado neighborhoods. Its taxes are part of the property tax bill, so they count in the payment and lower the ratio. Check the county tax record for the parcel.
Denver requires a license for long-term rentals. Ask the financing team how your program handles license timing, and start the process early.
Yes. Cash-out goes up to 75% LTV, often lower on large balances, and the rent must still clear the program minimum at the new payment.
No. LendingStreet finances non-owner-occupied investment property only, not homes you use yourself.
Yes. DSCR loans start at $150,000 with no stated maximum, and $500K to $1M loans are common for Denver single-family homes, duplexes and rowhomes and for suburban rentals in Lakewood, Arvada and Aurora.
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.