Modesto is far less expensive than the Bay Area, so a jumbo DSCR loan here usually is not a single-family home. In practice, $1.5M-plus rental loans in Stanislaus County are mostly newer seven- and eight-unit buildings, with the occasional luxury home or estate property.
In short: LendingStreet offers jumbo DSCR loans of about $1.5M to $5M+ on high-value 1-8 unit rentals in Modesto and across Stanislaus County, for purchase, rate-and-term and cash-out. The loan qualifies on the property's rent with no W-2s or tax returns, LLC borrowers are standard and the minimum credit score is 620. Larger balances get more review, and max LTV can be lower and varies by program.
The clearest jumbo candidates are newer or recently renovated eight-unit buildings in Modesto, Turlock and Riverbank, where eight units at current rents support a large loan. High-end homes in Del Rio, Oakdale's estate areas and larger parcels in the county also reach jumbo values, but their rents are usually low relative to price. Those homes tend to lease to executives, physicians or families between houses, and comparable leases are scarce, which makes rent harder for an appraiser to support.
If your value is spread across several moderately priced rentals, a blanket portfolio loan or individual DSCR loans usually fit better than one jumbo loan. We will tell you which structure makes sense.
Investors coming from the Bay Area sometimes expect a large single-family home to work as it might closer to the coast. In Modesto, the stronger rental economics are usually in multi-unit buildings, and a jumbo loan here is more often about unit count than luxury.
Same principle as any DSCR loan, deeper review at larger balances. The rent must cover the full payment at the program minimum, and on most programs that is 1.0x.
| Item | Jumbo DSCR in Stanislaus County |
|---|---|
| Loan size | About $1.5M to $5M+ |
| Property | 1-8 unit investment property |
| Purposes | Purchase, rate-and-term, cash-out |
| Income | Property rent; no W-2s or tax returns |
| Max LTV | Often lower on large balances; varies by program |
| Reserves | Typically higher |
| Appraisal | Detailed review; some programs require a second appraisal |
This example is illustrative and not a quote. An investor buys a newer eight-unit building in north Modesto for $1,800,000. Units rent for about $1,800 each, for combined rent of $14,400 a month. Taxes on the purchase price are about $1,650 a month and insurance $650. At 70% LTV the loan is $1,260,000, estimated principal and interest is about $8,703, the total payment about $11,003 and the DSCR about 1.31x.
Compare a luxury home in Del Rio priced at $1,600,000 that leases for $6,500 a month. Even at 65% LTV, a loan of $1,040,000 has a total payment of about $9,173, for a DSCR of about 0.71x, below the standard minimum. That is why large single-family rentals in Modesto usually need much more equity or a sub-1.0 program, while an eight-unit building can carry a jumbo loan comfortably.
| Item | Eight-unit building | Luxury home |
|---|---|---|
| Price | $1,800,000 | $1,600,000 |
| LTV | 70% | 65% |
| Loan amount | $1,260,000 | $1,040,000 |
| Estimated principal and interest | $8,703 | $7,183 |
| Taxes and insurance | $2,300 | $1,990 |
| Total monthly payment | $11,003 | $9,173 |
| Monthly rent | $14,400 | $6,500 |
| DSCR | About 1.31x | About 0.71x |
A purchase resets the assessed value to the price, so taxes on a $1.8M building start at roughly 1% of that plus bonds and assessments. On a refinance, by contrast, the assessment does not reset, which can make a jumbo cash-out or rate-and-term refinance on a property you have owned for years look much stronger than a new purchase of the same building.
Some newer buildings and subdivisions also carry Mello-Roos or other special district assessments on the tax bill. On a large property those add up, so check the full bill rather than estimating from the base rate alone.
Placing coverage for a large multi-unit building or a high-value home in California takes longer than it used to. Fewer carriers are writing new policies, and some large properties end up with a FAIR Plan policy plus additional coverage. Start early, confirm liability limits and loss of rents coverage, and use the actual premium in your numbers.
Properties near the Stanislaus or Tuolumne rivers, or in older low-lying areas, should also be checked against flood maps, since a flood policy on a large building adds meaningfully to the payment.
Newer buildings are generally exempt from California's statewide rent cap for their first 15 years, which gives owners of new eight-unit properties more flexibility on renewals than owners of older buildings. Check the certificate of occupancy date and any local rules, and plan your long-term rent assumptions accordingly.
Newer buildings also tend to have lower near-term repair needs and are easier to insure, which supports a stronger ratio. Older eight-unit buildings can still reach jumbo values after major renovation, but expect a closer look at the scope of work, permits and the rent roll after the upgrade.
Jumbo-size residential sales are limited in Stanislaus County, so appraisers may use sales from a wider area or lean on income for multi-unit buildings. Expect a detailed review and bring rent rolls, leases and any comparable sales you know about. Investors who already own and operate multi-unit property usually move through the review faster. For a recently built building, the lease-up history and current occupancy matter as much as the rents themselves.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the address, price or value, rent roll and insurance quote through the form below, or call (877) 298-1001, and the team will size the loan at a few LTVs. For statewide context, see our California jumbo DSCR page.
If you are weighing a jumbo purchase against two or three smaller buildings, send both scenarios. Comparing the payment, reserves and ratio side by side often makes the right choice clear.
Not as common as in coastal California. Here they mostly involve newer 7-8 unit buildings or occasional luxury homes.
About $1.5M to $5M+ on a single 1-8 unit rental, with more review and often lower max LTV on large balances.
It is hard, because rent is low relative to price. Expect to need more equity or a sub-1.0 program.
No. The loan qualifies on the property's rent, with a 620 minimum credit score and typically higher reserves.
No. A refinance is not a change in ownership under Prop 13.
Buildings are generally exempt for their first 15 years. Confirm the certificate of occupancy date and any local rules.
Yes, subject to program limits, which are often lower on large balances. Because a refinance does not reset Prop 13 taxes, long-held properties often qualify more easily.
No. Nine or more units is commercial; see our multifamily loans page.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.