Raleigh's growth has pushed values up across Wake County, and investors now buy new townhome rows, small apartment buildings near NC State and executive homes in Cary and North Hills. Many of those deals land above $1.5M.
In short: LendingStreet offers jumbo DSCR loans, about $1.5M to $5M+, for 1-8 unit rentals in Raleigh, Cary, Apex, Wake Forest and the wider Triangle, qualified on rent without tax returns. In Raleigh a jumbo balance usually finances a 5-8 unit building, a luxury home in Hayes Barton or North Hills, or several new build-to-rent homes. Wake County's periodic revaluations are the tax risk to model.
Inside the Beltline, Hayes Barton, Oakwood, Glenwood-Brooklyn and the area around the Village District have older homes and some small multi-unit buildings, while the blocks around NC State and Hillsborough Street lease heavily to students and young professionals.
North Hills has newer luxury townhomes and condos. Cary, Apex, Holly Springs and Wake Forest have large newer homes that lease to families relocating for Research Triangle Park, and build-to-rent communities have spread across the county.
| Area type | Examples | What a jumbo loan usually covers | Check first |
|---|---|---|---|
| Inside the Beltline | Hayes Barton, Oakwood, Glenwood-Brooklyn | Luxury homes, small multi-unit buildings | Historic district rules, rent support |
| Near NC State | Hillsborough Street, Wade Avenue area | 5-8 unit student and young-professional buildings | Occupancy limits, parking |
| Suburban growth | Cary, Apex, Holly Springs, Wake Forest | Executive homes, build-to-rent groups | HOA leasing rules, new tax bills |
Raleigh rents have risen with prices, though not always as fast, so on a single luxury home the ratio can be tight at full leverage. Multi-unit buildings and groups of new rentals usually pencil better because rent per dollar of value is higher.
Build-to-rent investors who buy several new homes from one builder often finance them together. With five or more properties, a blanket loan handles that in one closing, while a 5-8 unit building qualifies as residential on its combined rent.
North Carolina counties reappraise property on a set cycle, and Wake County's 2024 revaluation raised many values sharply. Between revaluations the assessed value usually stays put, so the seller's bill can understate what you will owe after the next cycle. Budget with some cushion, especially on homes bought well above their current assessed value.
Combined county and city taxes differ by town, so a Cary home and a Raleigh home of the same value carry different bills. North Carolina's excise tax on deeds is $2 per $1,000 of price and is customarily paid by the seller. Your title attorney can confirm closing costs.
This example is illustrative and not a quote. An investor buys an eight-unit building a few blocks from NC State for $2,400,000. The units rent for a combined $16,000 a month. Wake County and Raleigh taxes are budgeted at $1,900 a month, and insurance is $800.
At 65% LTV the loan is $1,560,000. Estimated principal and interest is about $10,379 a month. Adding taxes of $1,900 and insurance of $800 brings the payment to about $13,079, and $16,000 of combined monthly rent puts the DSCR at about 1.22x.
Taxes are a much smaller share of the payment than in many states, which is one reason Triangle multi-unit buildings can carry jumbo balances.
| Line item | Eight-unit purchase |
|---|---|
| Value | $2,400,000 |
| Loan-to-value | 65% |
| Loan amount | $1,560,000 |
| Estimated principal and interest | $10,379 |
| Property taxes | $1,900 |
| Insurance | $800 |
| Total monthly payment | $13,079 |
| Combined monthly rent | $16,000 |
| DSCR | About 1.22x |
Raleigh regulates short-term rentals through zoning and requires a permit for whole-home STRs, with standards that have changed over time. Many Cary and Apex HOAs bar rentals under 30 days or limit leasing in early phases. Confirm current rules before you count on nightly income.
Properties near Crabtree Creek, Walnut Creek and other streams can fall in mapped flood zones. The Triangle also sees hurricane remnants and severe storms, so get an insurance quote early and check the wind deductible.
The basics stay the same at any size: the loan qualifies on the property's rent, not your W-2s or tax returns, the minimum credit score is 620, LLC borrowers are standard and 30-year terms are available. What changes on a jumbo balance is the depth of review.
Maximum LTV is often lower than the 80% purchase and 75% cash-out ceilings that apply to smaller loans, reserve requirements are often higher, and some programs ask for a second appraisal or a desk review. All of it varies by program, so the right comparison is two or three structures side by side, not one headline number. Bring recent leases on similar Raleigh rentals to support the rent the appraiser uses.
A jumbo-sized request in the Raleigh market is often a refinance rather than a purchase. A cash-out refinance can reach 75% LTV on standard programs, subject to the rent covering the new payment, and seasoning rules vary by program.
If the balance comes from several properties, a blanket loan groups five or more rentals under one note with portfolio pricing. Buildings with 5 to 8 units stay residential and qualify on combined rent; anything with 9 or more units is a commercial loan instead. Mixing the two approaches across a large holding is common.
A clean package gets clearer terms. Have these ready when you reach out:
Send the address, value, rent and target loan amount, call (877) 298-1001, or use the form below. LendingStreet will run the ratio at a few loan sizes and come back with options. Our investor loans are business-purpose loans on non-owner-occupied property. For statewide rules and costs, see our North Carolina jumbo DSCR page.
It can be. Multi-unit buildings and groups of new rentals usually cover their payments better than single luxury homes. The rent, taxes and insurance decide each file.
A revaluation can raise the assessed value and your bill. If you buy well above the current assessed value, budget for higher taxes after the next cycle.
Yes. With five or more properties, a blanket loan can combine them under one closing and one payment, qualified on combined rent.
It is $2 per $1,000 of price and customarily paid by the seller. Confirm the split with your title attorney.
You can lower the loan amount, add rent, or look at a sub-1.0 DSCR program. Each changes the terms, so compare them side by side before you decide. Small changes to taxes or insurance can also move the ratio.
Yes. Buildings with 5 to 8 units are financed as residential and qualify on combined rent, though maximum LTV can be lower than on 1-4 units and varies by program. Nine or more units is a commercial loan.
Our DSCR programs have no stated maximum. Loans start at $150,000, and balances from about $1.5M to $5M+ are reviewed case by case, usually with lower maximum LTV and higher reserves than smaller loans. The rent still has to cover the full payment.
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