In Fresno, a $1.5 million rental loan on a single house is rare, and it rarely pencils. Large DSCR loans here usually finance a 5-8 unit building, a high-end home in Fig Garden or Woodward Park, or several rentals at once. Knowing which one you have saves time.
In short: LendingStreet makes jumbo DSCR loans of about $1.5M to $5M+ on high-value 1-8 unit rentals, for purchase, rate-and-term and cash-out, qualified on rent with no W-2s or tax returns. In Fresno, those balances most often mean a larger small-apartment building, a luxury home, or a group of rentals that may fit a blanket portfolio loan better. Larger balances get more review, and max LTV varies by program.
Most Fresno rentals are priced well under the jumbo range. The exceptions fall into a few groups, and each one is underwritten differently.
That honesty matters, because a jumbo application on the wrong property wastes an appraisal fee and weeks of time. Sorting out the situation first leads you to the program that can actually close.
| Situation | Example | Best fit |
|---|---|---|
| Luxury single-family | Old Fig Garden, Woodward Park, Copper River, northeast Clovis | Jumbo DSCR, usually lower LTV |
| Larger residential building | Well-located 7-8 unit building | Jumbo or 5-8 unit DSCR |
| Mountain or lake property | Shaver Lake, Millerton Lake area | Jumbo DSCR or STR program, subject to county rules |
| Several rentals | Duplexes, fourplexes and houses across the metro | Blanket portfolio loan |
Large homes in Old Fig Garden, Van Ness Extension, Woodward Park, Copper River Ranch and northeast Clovis do rent, often to physicians, executives and relocating families. But rent on a high-end Fresno home is a small share of its price, so the ratio is usually tight. Expect lower leverage or a sub-1.0 DSCR program, and bring signed leases or strong comparable rents.
Under Proposition 13, a California property is reassessed to its purchase price when it sells, and the base tax is 1% of assessed value plus voter-approved bonds and any special assessments. On a multimillion-dollar purchase, that tax line is large and directly lowers the ratio.
Woodward Park and northeast Clovis homes may also carry HOA dues or Mello-Roos charges, which add to the payment and lower the ratio further.
This example is illustrative and not a quote. Option A: an investor buys an estate home for $2,400,000 that leases for $7,500 a month. At 65% LTV the loan is $1,560,000. Estimated principal and interest plus taxes of about $2,400 and insurance of $500 make a payment of about $13,542, a DSCR of about 0.55x, well below 1.0x.
Option B: the same investor finances eight single-family rentals worth about $300,000 each, $2,400,000 in total, renting for $2,000 each, or $16,000 a month. At the same 65% LTV, the loan is also $1,560,000. With taxes of about $2,320 and insurance of $1,120 across the portfolio, the payment is about $14,082, a DSCR of about 1.14x.
The lesson of the comparison is not that luxury homes can never be financed. It is that in Fresno, the same amount of borrowing is far easier to support when it is spread across rentals with strong rent relative to price. If the estate home is what you want to own, plan on much lower leverage.
| Item | Option A: estate home | Option B: eight rentals |
|---|---|---|
| Total value | $2,400,000 | $2,400,000 |
| Loan at 65% LTV | $1,560,000 | $1,560,000 |
| Monthly rent | $7,500 | $16,000 |
| Monthly payment with T&I | $13,542 | $14,082 |
| DSCR | About 0.55x | About 1.14x |
A blanket portfolio loan covers five or more investment properties, each with 1-8 units, under one loan, qualified on combined cash flow, with one closing, one payment, portfolio pricing and release provisions when a property sells. For Fresno investors who need $1.5M or more, spreading the loan across several cash-flowing rentals usually produces a much stronger ratio than one expensive house.
A blanket loan can also hold properties in more than one state on some programs, which helps investors who own rentals in Fresno and in other markets.
A renovated seven- or eight-unit building in a strong location, especially one bought at today's prices, can carry a loan approaching jumbo size on a purchase or cash-out. These are underwritten on the rent roll, with max LTV on 5-8 units that can be lower and varies by program. Remember the statewide rent cap generally applies to buildings over 15 years old.
Well-kept courtyard buildings with updated units and covered parking tend to command the highest rents and the strongest values in this group, which is what pushes a loan toward jumbo size.
Shaver Lake, Huntington Lake and the foothill communities have higher-priced cabins and homes, and some rent to vacation guests. Some programs can qualify a short-term rental on projected revenue. County permit, transient occupancy tax and HOA rules decide whether a property can be rented nightly, and wildfire exposure in the foothills and mountains can make insurance hard to get. Check both before you buy.
Some foothill and mountain areas have limited insurance options because of wildfire exposure, and a policy through the California FAIR Plan plus supplemental coverage may be the only route. Price that before you make an offer.
Jumbo DSCR loans still require a 620 minimum credit score and offer 30-year terms. Larger balances bring more review: higher reserves, a closer look at the appraisal and sometimes a second appraisal. Pricing is set case by case. Buildings with nine or more units are commercial; see our multifamily loans page.
Larger loans also take longer. Allow extra time for the appraisal, especially on luxury homes where the appraiser may need to look across a wide area for comparable sales and rents.
Long-time owners of larger Fresno buildings or several rentals sometimes need a jumbo-size refinance. Because Proposition 13 keeps older tax bills low, a long-held property may support more loan than a new purchase would. Compare a single jumbo loan with a blanket refinance across your properties.
Send the properties, values, rents and tax bills through the form below, or call (877) 298-1001. Our investor loans are business-purpose loans on non-owner-occupied property. We will tell you honestly whether a jumbo DSCR loan, a 5-8 unit loan or a blanket portfolio loan fits best.
Yes, from about $1.5M to $5M+ on high-value 1-8 unit rentals, though in Fresno they most often involve larger buildings or luxury homes.
Often only at lower leverage or on a sub-1.0 DSCR program, because rent is low relative to price.
Usually. Combining five or more cash-flowing rentals often produces a stronger ratio than one large loan on one property.
It varies by program. Larger balances often have lower maximum LTV and higher reserves.
On some programs, using projected revenue, if county rules allow short-term rentals and insurance is available.
No. Jumbo DSCR loans qualify on the property's rent or projected revenue.
Nine or more units is commercial, handled through our multifamily programs.
Yes. Jumbo programs cover purchase, rate-and-term and cash-out, subject to program limits.
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