Huntington is one of the more affordable markets in the region, so a rental loan of $1.5 million or more is uncommon. When one comes up, it is almost always a larger, newer multi-unit building, not a house.
In short: LendingStreet offers jumbo DSCR loans from about $1.5M to $5M+ on high-value 1-8 unit rentals in the Huntington area, for purchases, rate-and-term refinances and cash-out. Larger balances get more review and maximum LTV can be lower, varying by program. In Huntington, a jumbo balance usually means a newer 6-8 unit building, often near Marshall, or several properties that may fit better under a blanket loan.
Very few single-family homes in Cabell or Wayne county rent for enough to support a $1.5 million loan, even in the Ritter Park area. Most jumbo-size requests here fall into a few groups.
We would rather say this up front than have you discover it after paying for an appraisal. If your plan involves a large single-family home in Huntington, call us first so we can talk through whether the rent supports a jumbo balance.
This example is illustrative and not a quote. An investor buys a newer eight-unit building near campus for $2,200,000. Each unit rents for $2,100 a month, for $16,800 in total. Taxes are budgeted at $1,900 and insurance at $750 a month.
At 70% LTV the loan is $1,540,000 and the full payment is about $13,418, for a DSCR of about 1.25x. At 65% LTV the loan is $1,430,000, the payment about $12,649 and DSCR about 1.33x. Large balances often land in this lower leverage range.
The DSCR here looks strong because newer student buildings with larger units can command higher rent per unit. That only holds if the units stay full. Expect us to look at past leasing results, not just this year's rent roll.
| 70% LTV | 65% LTV | |
|---|---|---|
| Loan | $1,540,000 | $1,430,000 |
| Monthly payment | $13,418 | $12,649 |
| DSCR | 1.25x | 1.33x |
On a jumbo loan, we review the rent roll, leasing history, building condition, reserves and your experience with similar properties. The appraisal needs comparable sales, which can be limited for newer buildings in Huntington, so the appraiser may look at a wider area or rely more on the income approach.
Student housing also depends on the university's enrollment and housing policies. Lenders look at how long the building has been leased, how quickly units fill each year and how the property compares with newer options near campus.
Expect the review to take longer than on a small rental.
Maximum LTV on large balances is often lower and varies by program. Plan for a larger down payment and several months of payments in reserve after closing. Strong reserves and experience can help with terms.
Reserves also help you handle the realities of a large building: a roof or HVAC replacement, a slow leasing season or an unexpected tax increase. On a large loan, a single expense can be big enough to matter.
Inside Huntington, rentals are taxed in Class IV at a 60% assessment ratio with a higher levy than owner-occupied homes. Outside city limits, Class III applies. On a large building, the tax line is a big number, so confirm it with the assessor. Insurance should include flood determination and quotes for wind and liability.
Ask the seller for recent tax bills and insurance declarations. On a newer building, the tax bill may still reflect an earlier, partly completed assessment, and the next bill could be noticeably higher once the building is fully assessed.
If the large balance comes from several properties rather than one building, a blanket portfolio loan can put five or more rentals under one loan with one closing and one payment.
Release provisions let you sell one property and pay down part of the blanket loan without refinancing everything else.
Compare the two structures side by side. A jumbo loan on one strong building keeps the other properties free for separate financing or sale, while a blanket loan simplifies payments and can be priced on the combined cash flow of the portfolio.
Jumbo DSCR loans cover purchases, rate-and-term refinances and cash-out. A developer who built a newer building with a construction loan can refinance into a long-term DSCR loan once it is leased, or take cash out to start the next project, subject to DSCR and leverage limits. Cash-out seasoning varies by program.
If you are refinancing out of a construction loan, have the certificate of occupancy, final costs, leases and photos ready. A building that is fully leased with a track record of collections is in the strongest position.
Huntington's large rental properties tend to be smaller in balance than those in faster-growing parts of the state. Investors who own property in several West Virginia cities sometimes find that a jumbo loan makes more sense on one large building and individual DSCR or blanket loans on the rest.
We can look at your whole portfolio and suggest which structure fits each property, whether that is a jumbo DSCR loan on one building, a blanket loan across several rentals or standard DSCR loans on each.
Send the address, price or value, rent roll, two years of operating history if available, insurance quote and a summary of your experience. We will tell you how the loan would be sized and what else is needed.
Yes, from about $1.5M to $5M+ on high-value 1-8 unit rentals, for purchase, rate-and-term and cash-out.
No. Balances that large usually involve a newer multi-unit building or several properties. Single-family homes at that level are rare here.
It varies by program and is often lower on larger balances. Plan for a larger down payment. Reserves matter more on large loans.
No. Jumbo DSCR loans qualify on the property's rent. Leases, rent roll and appraisal support the numbers.
Yes, for buildings with up to 8 units. Leasing history and the rent roll are reviewed closely. Lenders look at past occupancy each school year.
Those are commercial. See our multifamily loan page.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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