A $1.5M loan on one Eugene house is rare. The investors who need jumbo DSCR balances here are usually holding several student houses near campus, a pair of small buildings, or a high-value property in the South Hills that happens to rent well, and they want to buy, refinance or pull cash on a larger scale.
In short: LendingStreet offers jumbo DSCR loans of about $1.5M to $5M+ for purchase, rate-and-term and cash-out on high-value 1-8 unit rentals, and in Eugene those balances usually come from portfolios of homes or 5-8 unit buildings. Loans qualify on rent, not your W-2s or tax returns, and LLC borrowers are standard. Larger balances get more review, and maximum LTV can be lower and varies by program.
Eugene's prices are higher than Las Cruces or much of the Midwest, but most single rentals still trade well below $1M. A jumbo balance usually reflects one of these situations.
| Situation | Typical makeup | Usual structure |
|---|---|---|
| Student house portfolio | Five to ten houses near UO leased by the bedroom | Blanket portfolio loan |
| Small building plus houses | A 5-8 unit building and nearby homes | Blanket, or separate DSCR loans |
| Single 8-unit building | Newer or renovated building near campus | Individual jumbo DSCR |
| High-value home | South Hills, Laurel Hill or river-view property | Individual jumbo DSCR if rent supports it |
Eugene's most expensive homes are in the South Hills, Laurel Hill Valley and along the river, with some larger properties toward Coburg and the edge of the urban growth boundary. South Hills and riverfront homes can sell for well over $1M, but long-term rents on them rarely keep pace with value. That makes 1.0x difficult at normal leverage. If you own one, run the math before counting on a jumbo balance; lower leverage or a sub-1.0 program may be the realistic path. Student houses near campus are the opposite: by-the-bedroom leasing can produce strong rent relative to value, which is why they make up so many Eugene portfolios.
This example is illustrative and not a quote. An investor owns six houses within walking distance of campus, appraised at a combined $3,795,000 and leased by the bedroom for $20,900 a month in total. Existing loans total $420,000. A blanket cash-out loan at 65% of combined value is $2,466,750, which pays off the existing loans and frees about $2,046,750 before closing costs.
Estimated principal and interest is about $16,411. Combined taxes are about $3,099 a month and insurance $900, for a total payment of about $20,411. Portfolio DSCR is about 1.02x. The investor keeps release provisions, so any single house can be sold later by paying down part of the loan.
| Item | Amount |
|---|---|
| Combined appraised value, 6 houses | $3,795,000 |
| Blanket cash-out loan at 65% | $2,466,750 |
| Existing loans paid off | $420,000 |
| Cash before closing costs | $2,046,750 |
| Combined monthly rent | $20,900 |
| Total monthly payment | $20,411 |
| Portfolio DSCR | About 1.02x |
Bigger balances get a closer look, and the review takes longer than a single-home file. Build that into your timeline, especially for a purchase with a firm closing date. Expect deeper review in these areas.
Student houses produce strong rent, but they work differently from a family rental. Leases are often joint or per bedroom, turnover happens almost every summer, and a few weeks of vacancy between leases is normal. Furniture, utilities and yard care may be included in rent, and wear on the property is higher than with long-term tenants.
Underwriters on a portfolio loan will look for a stable history: rent rolls from prior years, a pre-leasing pattern that shows the houses fill each fall, and a management setup that can handle many leases at once. If you self-manage, be ready to explain how. If you use a manager, a letter describing their role and leasing record helps.
Plan reserves for the summer turnover. The loan payment does not pause in July, and a portfolio of six houses can have several bedrooms empty at the same time.
Oregon's statewide rent stabilization applies to most units older than 15 years, which covers nearly every house near campus. Rents on existing tenancies can rise only within the annual cap, while units that turn over can be re-leased at market. Many student houses turn every year, so portfolios near UO often track market rent more closely than buildings with long-term tenants. Underwriters will still look at the leases you have, not the rents you hope to get.
Each property has its own Lane County tax statement, and Measure 50 values are not reset by a sale or refinance. That consistency makes a portfolio easier to underwrite than in states where every purchase triggers a new assessment. For a portfolio refinance, use the current statements. For a portfolio purchase, the seller's statements are usually a reasonable guide, adjusted for any recent improvements that have not been added yet.
A blanket loan covers five or more properties under one note with one payment and portfolio pricing, qualified on combined cash flow. Separate DSCR loans keep each property independent, which can make sense if you plan to sell several homes soon. Some investors split the difference: a blanket loan on the long-term holds and separate loans on properties they may sell. Our comparison guide covers the tradeoffs.
Send a property list with addresses, values, rents, lease terms and loan balances through the form below, or call (877) 298-1001. Include which LLC owns each property, since a blanket loan generally needs the properties held in a way the loan can be secured against, and title may need to adjust ownership before closing. The team will lay out whether one loan, several loans or a mix fits your plans. Portfolios can include properties in Salem, Portland or Bend, and on some programs in other states. For statewide terms, see our Oregon jumbo DSCR page.
Yes, about $1.5M to $5M+. In Eugene those balances usually come from portfolios of homes or 5-8 unit buildings.
Yes. Five or more 1-8 unit properties can be financed under one blanket loan.
Larger balances get more review and maximum LTV can be lower. It varies by program.
Only if the rent supports the payment. High-value homes often rent for too little relative to price to reach 1.0x at normal leverage.
No. Jumbo DSCR loans qualify on rent. Expect more review of reserves and experience.
Yes. Release provisions let you sell a property by paying down part of the loan.
Yes. Blanket loans can cover several markets and, on some programs, several states.
They limit increases on existing tenancies in most older units, so underwriting uses the current rent roll.
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