Jumbo balances are ordinary in Ventura County. A house in the Westlake area of Thousand Oaks or a fourplex a few blocks from the Ventura beach can reach $1.5M or more without being exotic. The harder question is whether the rent can carry a payment that size.
In short: LendingStreet offers jumbo DSCR loans from about $1.5M to $5M+ for purchase, rate-and-term and cash-out on high-value 1-8 unit rentals in Ventura County. The loan qualifies on the property's rent with no W-2s or tax returns. Larger balances get more review and maximum LTV can be lower, varying by program, and in this market multi-unit properties usually support a jumbo loan better than single-family homes.
High-value single-family rentals are concentrated in Thousand Oaks, including its Westlake and North Ranch neighborhoods, unincorporated Oak Park and Newbury Park, often leased to executives and families tied to employers along the 101 corridor. Ojai has high-end homes with a small rental pool. On the coast, Pierpont, the Ventura Keys and Oxnard's harbor and beach neighborhoods, such as Hollywood Beach and Silver Strand, have expensive homes and small multi-unit buildings.
Five to eight unit buildings in Ventura and Oxnard can also land in jumbo range once you pass $1.5M.
Which one you are financing changes everything about the underwriting, so tell us early. A leased multi-unit building is the most straightforward; a large single home is the hardest to make work on rent alone.
Rent on a $2M-plus home is high in dollars but low relative to price. That makes a DSCR at or above 1.0x hard to reach on a single-family jumbo loan, even with 40% down. Sub-1.0 programs exist for some files, but a ratio far below 1.0 may not qualify anywhere. Run the numbers before you assume a luxury house will work as a DSCR rental.
Executive leases in Thousand Oaks often run 12 to 24 months to relocating families, and those signed leases are the best rent support you can give an appraiser, because comparable high-end rentals are thin.
This example is illustrative and not a quote. A home in the Westlake area of Thousand Oaks costs $2,400,000 and leases for $9,500 a month, with taxes of $2,200, insurance of $600 and HOA dues of $250. At 60% LTV the loan is $1,440,000, estimated principal and interest is about $10,069 and the DSCR is only about 0.72x.
A fourplex near the Ventura beach costs $2,200,000, with four units at $3,300 each for $13,200 a month, taxes of $2,110 and insurance of $700. At 65% LTV the loan is $1,430,000, estimated principal and interest is about $9,999, the payment is near $12,809 and the DSCR is about 1.03x. Similar price, very different result.
The difference comes down to rent per dollar of price. Four units of moderate rent add up to more than one large lease, while the purchase prices are close.
| Item | Westlake-area home | Beach fourplex |
|---|---|---|
| Price | $2,400,000 | $2,200,000 |
| LTV | 60% | 65% |
| Loan | $1,440,000 | $1,430,000 |
| Estimated principal and interest | $10,069 | $9,999 |
| Taxes, insurance, HOA | $3,050 | $2,810 |
| Total payment | $13,119 | $12,809 |
| Monthly rent | $9,500 | $13,200 |
| DSCR | 0.72x | 1.03x |
Above roughly $1.5M, expect higher reserve requirements, a more detailed appraisal review and, on some programs, a second valuation. Maximum LTV is often lower than on a standard DSCR loan. The basics stay the same: a 620 minimum credit score, qualification on rent, LLC borrowers and 30-year terms available.
Reserves on large balances can be several months of payments or more. Plan for that in your cash to close.
Beach homes in Ventura and Oxnard can earn strong nightly rates, and some programs qualify on projected short-term revenue. But coastal short-term rentals are tightly regulated, with city permits and coastal zone rules that have changed over time. Only count nightly income if the property holds a valid permit; otherwise underwrite on a long-term lease.
If you are buying a beach home that already holds a short-term rental permit, confirm in writing whether the permit transfers to a new owner. In some cities it does not.
Hillside luxury homes in Thousand Oaks and Oak Park sit in fire zones affected by the 2018 Woolsey Fire, and premiums there can be steep. Beachfront and harbor homes face flood and coastal storm exposure. On a jumbo loan, these premiums are large enough to change the ratio, so quote them before you write an offer.
Earthquake coverage is a separate decision. It is usually not required, but on a high-value building it is worth pricing so you understand the risk you are carrying.
Long-time owners can use a jumbo cash-out or rate-and-term refinance. Because Prop 13 keeps the tax base tied to the original purchase, an older owner's payment may be far lower than a new buyer's, which helps the ratio. Cash-out leverage on large balances is usually below the 75% program maximum.
For a long-held property, check the assessed value on the tax bill rather than estimating. It can be far below market, which is a real advantage on a large refinance.
A complete package shortens the review on a large balance. Plan to provide the items below, along with a short summary of the rentals you own and manage.
LendingStreet reviews large rental loans across California. Our investor loans are business-purpose loans on non-owner-occupied property. Send the property details, leases, tax bill, insurance quote and target leverage through the form below, and we will show you where the ratio lands.
About $1.5M to $5M+ on a 1-8 unit rental, for purchase, rate-and-term or cash-out.
Sometimes, but rent rarely keeps pace with price at that level. Expect a large down payment or a sub-1.0 program, and some homes will not qualify.
Price per unit is lower and combined rent is higher, so the rent covers more of the payment.
It varies by program and is often lower than on a standard DSCR loan.
On some programs, if the property holds a valid permit. Otherwise use a long-term lease.
No. The loan qualifies on the property's rent.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
A fourplex is a 2-4 unit property. If the balance is about $1.5M or more, it falls in our jumbo DSCR range.
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