A $1.5M-plus rental loan is unusual around Gulfport. When one works, it is usually on a newer multi-unit building or a carefully structured high-end property, not a beach house leased by the year.
In short: LendingStreet offers jumbo DSCR loans of about $1.5M to $5M+ on high-value 1-8 unit rentals, including along the Mississippi Coast. They qualify on rent, with no W-2s or tax returns, and are available for purchase, rate-and-term and cash-out. Larger balances get more review, and maximum LTV can be lower and varies by program. In Gulfport, jumbo balances usually mean a 5-8 unit building, a luxury waterfront home or a property that is part of a larger plan.
Prices in Harrison County are moderate compared with many coastal markets, so few single rentals need a loan this large. The properties that do tend to be beachfront and bayfront homes in Pass Christian, Long Beach and Ocean Springs, or newer apartment-style buildings of 5 to 8 units close to the beach or the casinos.
Waterfront homes are expensive to insure and tax as rentals, and long-term rents on them rarely keep pace with price. Multi-unit buildings usually cash flow better. The examples below show both.
That does not mean high-end Coast property is off the table. It means the structure matters: how much equity goes in, whether the income comes from several units, and whether short-term rental income is allowed and documented. We would rather show you the honest numbers up front than size a loan that strains the property.
Jumbo files also take longer to underwrite than standard ones, so build extra time into your purchase contract.
This example is illustrative and not a quote. An investor buys a newer eight-unit building near the beach in Biloxi for $2,250,000. The two-bedroom units rent for $2,400 each, or $19,200 a month. Taxes are budgeted at $3,100 a month at the 15% assessment ratio and insurance, including wind and flood, at $2,950.
At 70% LTV, the loan is $1,575,000. Estimated principal and interest is about $11,013, the total payment is about $17,063 and DSCR is about 1.13x, enough to clear 1.0x with some room.
| Item | Eight-unit building, 70% LTV | Pass Christian waterfront home, 65% LTV |
|---|---|---|
| Purchase price | $2,250,000 | $2,400,000 |
| Loan amount | $1,575,000 | $1,560,000 |
| Monthly rent | $19,200 | $11,000 |
| Est. principal and interest | $11,013 | $10,908 |
| Taxes | $3,100 | $3,450 |
| Insurance | $2,950 | $2,100 |
| Total payment | $17,063 | $16,458 |
| DSCR | 1.13x | 0.67x |
The second column shows a $2,400,000 waterfront home in Pass Christian leased long-term at $11,000 a month. Even at 65% LTV, the payment is about $16,458 and DSCR is only about 0.67x. To make a home like this work, investors bring much more equity, look at sub-1.0 DSCR programs, or qualify on short-term rental income where the city allows it.
There is also the question of who rents a home like this by the year. The tenant pool for long-term luxury leases on the Coast is small: senior executives at the shipyard or port, physicians and occasional corporate relocations. Vacancy between tenants can be long, which is one more reason to keep leverage modest.
Some programs qualify STRs on projected revenue, and large beach homes can earn more by the night. Coast cities regulate short-term rentals, and some residential neighborhoods limit or prohibit them, so check the city or county rules and any HOA covenants first. Our Mississippi short-term rental page covers how the program works.
Many Coast investors reach seven-figure balances by owning several moderately priced rentals, not one expensive one. If you own five or more, a blanket portfolio loan can combine them under one closing and one payment, qualified on portfolio cash flow, with releases when a property sells. That route often gets better leverage than a single jumbo on a waterfront home.
Blanket loans can also cross state lines on some programs, which helps investors who own along the whole Gulf Coast. See our multi-state portfolio page if your rentals extend into Alabama or Louisiana.
Jumbo DSCR loans are available for purchases, rate-and-term refinances and cash-out. On cash-out, the 75% LTV program limit applies, but larger balances often price and size lower. Taxes are assessed at the non-homestead 15% assessment ratio, and Harrison County reappraisals can raise them over time.
A rate-and-term refinance is common when an investor bought or built a high-value property with short-term money and now wants a 30-year schedule. A cash-out is common on a building owned for years that has grown well past its purchase price.
Large-balance files move faster when everything arrives together. Expect to provide the purchase contract or current mortgage statement, leases or a rent analysis, insurance quotes broken out by wind, hazard and flood, the flood determination and any elevation certificate, and the Harrison, Hancock or Jackson County tax record.
You will also need LLC documents, bank statements showing your down payment and reserves, and a schedule of the other real estate you own. For a 5-8 unit building, add the rent roll and twelve months of operating history.
A second appraisal or a more detailed review is common on larger balances. Give the appraiser access to every unit and share any recent improvements, since comparable sales for high-end Coast property can be limited.
If the property is a newer multi-unit building, include the certificate of occupancy, warranties and any builder's documentation on wind design and elevation. Those papers help both the appraiser and the insurer, and on the Coast, the insurer's view often shapes the loan as much as the appraisal does.
Send the address, price or value, rent and insurance figures through the form below, or call (877) 298-1001. Our investor loans are business-purpose loans on non-owner-occupied property. See our Mississippi jumbo DSCR page and the national jumbo page for more detail.
Roughly $1.5M to $5M+ on a 1-8 unit rental. Our DSCR programs have no stated maximum.
Yes, if the numbers work. Long-term rent on waterfront homes often falls short of the payment, so expect lower leverage or a sub-1.0 program.
It varies by program and is often lower than on smaller loans. Purchases go up to 80% LTV on standard programs.
No. Jumbo DSCR loans qualify on the property's rent.
Yes. Many Coast jumbo loans are on newer 5-8 unit buildings.
On some programs, yes, if local rules allow STRs at the property.
If you own five or more rentals, a blanket loan can be a better fit than a single large loan.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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