Portsmouth is one of the few places in northern New England where a single small rental building can need a loan above $1.5M. Downtown mixed-history buildings, South End homes and coastal properties in Rye and New Castle all reach that range.
In short: LendingStreet offers jumbo DSCR loans of about $1.5M to $5M+ on high-value 1-8 unit rentals in Portsmouth and nearby coastal towns, for purchase, rate-and-term and cash-out. The loan qualifies on rent, not tax returns, with a 620 minimum credit score. Larger balances get more review, and maximum LTV can be lower; it varies by program.
Inside Portsmouth, jumbo loans usually finance historic multi-unit buildings near Market Square and the South End, high-end condos and townhomes downtown, and large single-family homes near the water. In Rye and New Castle, oceanfront and water-view homes regularly trade above jumbo thresholds. Some investors also reach jumbo size by buying a 5-8 unit building in Portsmouth's core.
A smaller number of jumbo files come from owners refinancing several Portsmouth rentals at once, which can also be done as a blanket portfolio loan if you own five or more properties.
In Exeter, Stratham and North Hampton, large homes on bigger lots can also reach jumbo size, though the rent on those homes rarely supports high leverage.
The basics stay the same: the loan qualifies on rent, LLC borrowers are standard, and 30-year terms are available. What changes is the depth of review. Expect closer scrutiny of the appraisal, more reserves and, on some programs, a lower maximum LTV than on a smaller loan. Pricing on large balances is set case by case.
Expect the appraiser to look closely at comparable rents as well as sales, since few Seacoast rentals lease at the top of the market. Two appraisals or a review appraisal are required on some programs at larger loan amounts.
This example is illustrative and not a quote. An investor buys a renovated four-unit building near downtown Portsmouth for $2,400,000. Each unit leases for $3,500, or $14,000 a month. Taxes are budgeted at $2,300 a month and insurance at $450.
At 65% LTV the loan is $1,560,000. Estimated principal and interest on a 30-year term is about $10,908, the total payment is about $13,658 and DSCR is about 1.03x. At higher leverage the ratio drops below 1.0x, which is typical for high-value Portsmouth property and why many jumbo buyers here bring larger down payments.
If the ratio is close, a small increase in down payment often makes the difference. Running the loan at 60%, 65% and 70% LTV side by side is the fastest way to find the level that works for your property.
| Item | Amount |
|---|---|
| Purchase price | $2,400,000 |
| Loan at 65% LTV | $1,560,000 |
| Estimated principal and interest | $10,908 |
| Taxes | $2,300 |
| Insurance | $450 |
| Total payment | $13,658 |
| Rent, four units | $14,000 |
| DSCR | 1.03x |
Luxury single-family homes on the Seacoast often rent for far less than their value would suggest, which makes the ratio hard on homes priced above about $2M. Multi-unit buildings and well-located condos tend to produce stronger rent relative to price. Bring signed leases or comparable rentals to support the rent.
Portsmouth restricts short-term rentals in its residential zones, so most jumbo rentals here are underwritten on 12-month leases.
The rent you use should reflect what tenants will actually pay over a 12-month lease, not a summer rate. Seasonal coastal rentals often look strong for a few months but do not match a year-round lease.
Waterfront property in Portsmouth, Rye and New Castle can sit in FEMA flood zones, where flood insurance is required and premiums can be large. Wind exposure on the coast also affects homeowners premiums and deductibles. Get both quotes early, because on a large property they can move the ratio.
Older waterfront homes may also have elevation certificates on file. If not, getting one can help price flood insurance more accurately.
Buildings in Portsmouth's Historic District need approval for most exterior changes. If your plan includes renovations, budget for the review and materials. Appraisers also need good comparable sales, which can be thin for unusual historic properties.
If the building has commercial space on the ground floor, review the loan type with us early, since mixed-use buildings may need a commercial loan rather than a residential DSCR loan. Our commercial page covers those properties.
New Hampshire's transfer tax is charged to both buyer and seller, $0.75 per $100 on each side under current law, which adds up on a $2M+ purchase. Property taxes are set per $1,000 of assessed value, and Portsmouth reappraises on the state's five-year cycle. Use a tax figure based on your price.
On large purchases, the size of the buyer transfer tax often surprises investors. It is a closing cost, not part of the monthly payment, but it reduces the cash you have left for reserves.
Long-time owners in Portsmouth, Rye and New Castle often have substantial equity in high-value rentals. A jumbo cash-out refinance can unlock part of it, up to 75% LTV on standard programs and often lower on large balances. As with a purchase, the rent must support the new payment at the program minimum. Running the numbers at two or three loan amounts usually shows the best balance between cash out and a safe ratio.
Send the address, price or value, rents and target leverage. We will show the loan at a few LTVs so you can see where the ratio clears. Our investor loans are business-purpose loans on non-owner-occupied property. Call (877) 298-1001 or use the form below.
Roughly $1.5M to $5M+ on a single 1-8 unit rental.
It varies by program. Larger balances often have lower maximum LTV, and the rent may cap leverage below the program limit.
Yes, if it is a non-owner-occupied rental and the rent and insurance costs support the payment.
No. The loan qualifies on rent, credit and reserves.
Yes. Cash-out goes up to 75% LTV on standard programs, often lower on larger balances.
Not in Portsmouth residential zones, where STRs are restricted. Other towns have their own rules.
Longer than a standard file because of the deeper appraisal review. A complete package helps.
If you own five or more, a blanket portfolio loan can combine them under one loan and one payment.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
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