In the Harrisburg region, jumbo rental loans tend to come from two places: portfolios of rowhouses and small apartment buildings in the city, and the higher-priced homes on the West Shore and around Hershey.
In short: LendingStreet offers jumbo DSCR loans from about $1.5M to $5M+ on 1-8 unit rentals in Dauphin, Cumberland and Perry counties, qualified on rent with no W-2s or tax returns. In this region a jumbo balance usually means a group of rentals or a 5-8 unit building, and Pennsylvania's transfer tax and school district tax bills are the local costs to plan around. Max LTV on larger loans varies by program.
Inside the city, Midtown, Uptown, Shipoke and the Old Uptown area have brick rowhouses, many split into two to four apartments, plus small apartment buildings that lease to state employees, hospital staff and students at Harrisburg University.
Across the Susquehanna, Camp Hill, Lemoyne, Mechanicsburg and Hampden Township offer larger single-family homes in sought-after school districts. To the east, Hershey and Hummelstown draw medical professionals from Penn State Health Milton S. Hershey Medical Center.
| Property type | Typical areas | What drives the loan |
|---|---|---|
| Rowhouse or small multifamily portfolio | Midtown, Uptown, Allison Hill edges | Combined rent across buildings |
| 5-8 unit building | Midtown, Old Uptown, Steelton | Rent roll and building systems |
| Executive home | Camp Hill, Hampden Township, Hershey | Price vs rent; lower LTV common |
A Harrisburg rowhouse or West Shore single-family rental usually finances far below jumbo range. Investors reach a $1.5M+ balance by buying a block of rowhouses, consolidating a portfolio, or financing one of the larger homes in Hershey or Camp Hill.
Pennsylvania's capital region has steady rental demand from government, healthcare and the warehouse and logistics jobs along I-81 and I-83, which helps portfolio rent support. Older buildings, though, need careful condition and insurance review.
Pennsylvania charges realty transfer tax of 1% to the state plus a local share, commonly another 1% split between the municipality and school district, with some municipalities higher. Buyer and seller often split it by custom, but your contract decides. On a $2M purchase, that cost is substantial.
Most of a local tax bill is school district tax. Pennsylvania counties reassess infrequently, and school districts can file assessment appeals after a sale when the price is well above the assessed value. Ask about the assessment history and budget for a possible increase.
Shipoke and other low-lying areas along the Susquehanna have flooded repeatedly, including during Tropical Storm Agnes in 1972 and later storms. Flood insurance in mapped zones is generally required and can be expensive for older rowhouses with basements.
Much of the city's housing dates from before 1940. Knob-and-tube wiring, older boilers and slate or flat roofs all draw insurer questions.
This example is illustrative and not a quote. An investor buys a package of six Midtown rowhouses, each converted to three apartments, for a combined 18 units. Units rent for about $1,050 each. The price is $2,250,000 and rent totals $18,900 a month. Taxes are budgeted at $3,750 a month and insurance at $1,650.
At 75% LTV the loan is $1,688,000. Estimated principal and interest is about $11,372, so the full monthly payment is about $16,772 and DSCR is about 1.13x. At 65% LTV the loan falls to $1,462,000, principal and interest to about $9,850, the payment to about $15,250 and DSCR rises to about 1.24x. The lower-leverage version takes $226,000 more cash at closing.
Each rowhouse is its own 3-unit property, so the six together fit a blanket loan rather than one commercial note. Higher school taxes are why the tax line here is heavier than in many Southern markets at a similar price.
| Item | 75% LTV | 65% LTV |
|---|---|---|
| Loan amount | $1,688,000 | $1,462,000 |
| Estimated principal and interest | $11,372 | $9,850 |
| Property taxes (budgeted) | $3,750 | $3,750 |
| Insurance | $1,650 | $1,650 |
| Total monthly payment | $16,772 | $15,250 |
| DSCR at $18,900 rent | About 1.13x | About 1.24x |
| Down payment before costs | $562,000 | $788,000 |
The City of Harrisburg and a number of surrounding boroughs require rental registration or licensing and may inspect units. Requirements differ by municipality, so check each address with its local code office.
Short-term rentals near Hershey can be popular around summer events and concerts, but township zoning and HOA rules vary widely. Most jumbo-size files in the region are underwritten on 12-month leases.
Loan size runs from about $1.5M to $5M+ for purchase, rate-and-term or cash-out on 1-8 unit rentals. Qualification is the property's rent against the full payment, with no W-2s or tax returns. The credit floor is 620, LLCs are standard and 30-year terms are available.
On a larger balance, plan for a lower maximum LTV than standard DSCR loans, a more detailed appraisal review and higher reserves. A ratio under 1.0x is not always the end of the file, since sub-1.0 programs exist, but leverage and pricing vary by program.
Residential DSCR financing covers buildings up to 8 units; 9 units and up is commercial (see /multifamily-loans.html). If you own five or more rentals, a blanket portfolio loan can put them under one closing and one payment, qualified on combined cash flow, with release provisions when a property sells.
Around Harrisburg, many investors own converted rowhouses with two to four units each; once you have five or more, a blanket loan can refinance them together while keeping each building inside residential limits.
Underwriting on a big balance goes smoother with these in hand.
Use the form below or call (877) 298-1001 with the property details and target loan amount. We will size the loan on the rent and show you where the ratio lands at different LTVs.
It is often split between buyer and seller by local custom, but the purchase contract controls. The total is 1% state plus the local share for that municipality and school district.
In Pennsylvania, school districts can appeal assessments, often after sales well above the assessed value. Budget for the possibility on a large purchase.
Yes. Each building with 1-8 units qualifies on its combined rent. Several buildings can be combined in a blanket loan.
You can lower the loan amount, add more down payment, or look at sub-1.0 DSCR programs, which exist for some files. Pricing and leverage on those vary by program.
Yes, 30-year terms are available on jumbo DSCR loans. Maximum LTV and reserves are what usually tighten as the balance grows.
On some programs a third-party projection of short-term rental revenue can stand in for a lease, but only where local permit, zoning and HOA rules allow the use.
No. Our investor loans are business-purpose loans on non-owner-occupied property. We do not finance a home you live in, full time or part time.
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