The Best DSCR Lenders in 2026: An Honest Comparison
Published · Updated · 12 min read
Why a Lender Is Publishing a Lender Comparison
Search "best DSCR lenders" and every result is a lender ranking itself first. We get it — we're a lender too, and yes, we're in this comparison. So here is the deal we'll make with you: real differences in structure, publicly verifiable program facts, and a straight answer about who each lender is actually best for — including the profiles where 818 is not the right call.
The lender-program comparison below is the July 2026 snapshot. The cost worksheet was added September 16, 2026; its numbers are hypothetical and do not refresh or verify those earlier program terms. Compare current written proposals before you commit a deal to anyone, including us.
How We Compared
Five dimensions that actually change your outcome as a borrower:
The Comparison Table
| Lender | Best For | Min DSCR | Max LTV | Notable |
|---|---|---|---|---|
| Kiavi | Tech-first flippers adding rentals | ~1.0 | 80% | Fast, platform-driven process |
| Visio Lending | Pure rental/DSCR specialists | Sub-1.0 programs | 80% | DSCR-only focus, deep STR experience |
| Lima One | Multi-product investors | ~1.0 | 80% | Broad menu: flip, construction, rental |
| Griffin Funding | Low-ratio and jumbo profiles | 0.75 (no-ratio avail.) | 80% | Loans to $20M, no-ratio option |
| Easy Street Capital | STR-heavy and bridge-heavy investors | ~1.0 | 80% | Hard money + DSCR under one roof |
| Angel Oak | Non-QM edge cases | ~1.0 | 80% | Full non-QM shelf beyond DSCR |
| 818 Capital | Operators who want an underwriter, not a queue | 0.75 (no-ratio avail.) | 80% | Direct lender + multi-lender desk, 14–21 day close |
Compare the Cost Through Your Expected Exit
Ask every lender to price the same property, loan amount, occupancy, credit profile and intended hold. Keep the rate type, amortization and interest-only period visible. A lower payment can come from a different repayment structure rather than a lower financing cost.
Use this worksheet beside the written proposals:
| Item to compare | What to record |
|---|---|
| Loan and net proceeds | Gross loan amount, financed fees, reserves or holdbacks, and actual cash delivered at closing |
| Interest rate | Fixed or adjustable, lock expiration, and the index, margin and caps if adjustable |
| Points | Separate origination and discount points, with their dollar amounts |
| Other charges | Lender, broker, appraisal, legal and third-party fees; identify refundable amounts and credits |
| Monthly payment | Principal and interest or interest-only payment; show taxes, insurance and association dues separately |
| Planned exit | Expected sale or refinance month, then a shorter and longer hold scenario |
| Prepayment terms | The written schedule, the balance it applies to, any minimum-interest provision and the charge at your planned exit |
| Remaining balance | Principal still due at exit; an interest-only payment does not reduce the loan balance |
| Financing cost over the hold | Interest paid plus points, nonrefundable financing fees and any exit charge, less lender credits |
One point equals 1% of the loan amount: on $300,000, one point is $3,000. A point does not buy a universal rate reduction; ask what each quoted fee pays for. The CFPB’s explanation of points and lender credits explains that pricing tradeoff. For a business-purpose loan, use the actual proposal and loan documents to establish the terms.
Worked Example: A Lower Rate Can Cost More Over 24 Months
These are two invented $300,000 interest-only offers with the full balance outstanding for 24 months. They are not current 818 or competitor quotes. The example assumes all points and fees are paid separately in cash and the stated prepayment charge applies at the month-24 exit.
| Item | Illustrative offer A | Illustrative offer B |
|---|---|---|
| Loan amount | $300,000 | $300,000 |
| Annual interest rate | 6.75% | 7.25% |
| Monthly interest-only payment | $1,687.50 | $1,812.50 |
| Points paid at closing | 3 points = $9,000 | 1 point = $3,000 |
| Other financing fees | $2,000 | $2,000 |
| Interest paid over 24 months | $40,500 | $43,500 |
| Assumed prepayment charge at month 24 | 2% of $300,000 = $6,000 | $0 |
| Total modeled financing cost | $57,500 | $48,500 |
| Principal still due at exit | $300,000 | $300,000 |
Offer A saves $125 a month in interest, or $3,000 over the hold. Its extra $6,000 of upfront points and $6,000 exit charge make the modeled financing cost $9,000 higher at month 24. Ignoring exit charges, the extra points alone take 48 months of $125 savings to recover. Recalculate for the actual hold and the actual prepayment schedule.
This is a financing-cost comparison, not APR or total property ownership cost. Taxes, insurance, operating expenses, sale costs and any additional charges are outside the example. For amortizing loans, separate principal repaid from interest and include the remaining payoff balance when comparing cash needed at exit.
Send the Same Scenario to Each Desk
Put the property address, purchase or payoff amount, requested loan, current rent, taxes, insurance, credit range, vesting and planned exit on one page. Ask each desk to confirm which assumptions are verified, what can change after appraisal and the conditions remaining before closing. The DSCR-versus-conventional comparison and DSCR playbook explain the qualification side; this worksheet helps compare the resulting proposals.
The Nationals, One at a Time
Kiavi
The technology is genuinely good: application, draws, and payoffs run through a clean platform, and closings routinely land in the 10–15 day range. If your deal is standard — 1–4 unit, clean title, conventional profile — the machine works. The tradeoff is the machine itself: when your deal has a story (unusual property, credit event, complicated entity), platforms don't listen well.
Visio Lending
The specialist. Visio does rental loans and nothing else, and that focus shows in their STR underwriting — they were accepting short-term rental income before most of the market. If you want a lender whose entire book looks like your deal, that's worth something. Breadth is the limit: when your strategy shifts to a flip, a bridge, or ground-up, you're starting over somewhere else.
Lima One
The department store — fix and flip, new construction, rental, portfolios. Strong choice if you want one relationship across strategies and your deals are institutional-clean. Underwriting has real credit standards; entry-level profiles will feel the floor.
Griffin Funding
The qualification-floor story: DSCR down to 0.75, a no-ratio option where rental income isn't used at all, and loan amounts publicly quoted from $100K to $20M. If your deal cash-flows thin or your loan is bigger than most DSCR shops want, Griffin belongs on the shortlist.
Easy Street Capital
Hard money and DSCR under one roof with an STR-friendly posture (their programs are visible in most "Airbnb loan" searches for a reason). Good fit if you run auction-and-bridge-heavy strategies and want the takeout at the same shop.
Angel Oak
The non-QM generalist. DSCR is one shelf of a much bigger non-QM store — bank statement loans, asset qualifier, and more. If your profile is the complicated part (not the property), the breadth helps.
Where 818 Fits — Honestly
818 is a direct private lender that also runs a multi-lender desk. That structure is the whole pitch:
What that means in practice: the comparison you're doing right now, across seven browser tabs, is roughly what our desk does on every file — except with wholesale visibility instead of marketing pages.
Where 818 is not the right call: if you want a fully self-serve, never-talk-to-a-human platform experience, Kiavi's tech is better than our tech. If you need a $15M single-asset DSCR loan, the jumbo specialists are built for that. We compete on underwriting judgment and execution speed for operators scaling from their first rental to a mid-size portfolio — that's the lane.
How to Vet Any DSCR Lender (Including Us)
Ask these five questions and make everyone answer in writing:
Run Your Deal Through the Desk
Send the property, the rent (actual or market), and your target loan through our DSCR scenario form. You'll get a real read — DSCR, leverage, and which execution wins — not a rate teaser. Prefer to talk it through? (917) 993-9194.
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Written by Ravi Punn
Founder & Principal, 818 Capital Partners
Serial entrepreneur and real estate developer with 20+ years and $100M+ in transactions. Ravi founded 818 Capital to get the right operators the right capital — with an advisory process that's relational, educational, and direct.
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