Standard Files: 7.25–8.00%
Strongest tier (760+ FICO, 65% LTV, 1.25+ DSCR, SFR): 6.50–6.875%. Standard file (700 FICO, 75% LTV, 1.20 DSCR): 7.25–8.00%. Lower tier (620–660 FICO): 8.25–9.25%.
DSCR loan rates this week range from 6.375% to 9.25% across the full pricing spread. The 2.75% gap between best-tier and worst-tier pricing reflects how heavily DSCR lenders weight FICO, LTV, and property type. A 760-FICO investor on a 65% LTV purchase pays nearly 3 points less than a 620-FICO investor on an 80% LTV cash-out — same loan amount, same lender.
"DSCR rates" isn't one number — it's a grid. The same investor file gets different pricing depending on whether it's a purchase or cash-out, an LLC or personal name, an SFR or a condotel, a US citizen or a foreign national. This page is that grid: the tier tables first, then pricing by scenario, then what actually moves the numbers. Find your file, then request a quote tied to your exact profile.
Across $1.58B funded over 3,469 DSCR loans in 49 states (Jan 2025–Jun 2026), the median file closed at a 1.16 DSCR, 744 average FICO, and a $303,750 median loan — and 47% were cash-out refinances. Florida was our busiest state; California the largest by dollar volume. Where your file lands against those benchmarks is the best predictor of which tier below you hit. See the full data report →
DSCR Rate Sheet by FICO Score Tier
FICO is the single biggest driver. The pricing tiers in non-QM break at 620, 660, 680, 700, 720, 740, and 760 — each tier adds or subtracts 0.125–0.375% on the same file. Indicative rates from our wholesale lender panel as of the week of September 21, 2026. Assumes 70% LTV purchase, SFR, 1.20 DSCR, 5-year prepay penalty, $300K–$1M loan size.
| FICO Tier | 30-Yr Fixed | 5/1 ARM | 10-Yr IO | Market Avg (30-yr) | Notes |
|---|---|---|---|---|---|
| 760+ | 6.50–7.25% | 6.25–6.875% | 6.875–7.625% | 7.00–7.75% | Strongest tier — best pricing |
| 740–759 | 6.75–7.50% | 6.50–7.00% | 7.125–7.875% | 7.25–8.00% | Premium tier |
| 720–739 | 7.00–7.75% | 6.75–7.25% | 7.375–8.125% | 7.50–8.25% | Strong tier |
| 700–719 | 7.25–8.00% | 7.00–7.50% | 7.625–8.375% | 7.75–8.50% | Standard tier |
| 680–699 | 7.50–8.25% | 7.25–7.75% | 7.875–8.625% | 8.00–8.75% | Mid tier |
| 660–679 | 7.75–8.50% | 7.50–8.00% | 8.125–8.875% | 8.25–9.00% | Lower tier — LTV capped at 75% |
| 620–659 | 8.25–9.25% | 8.00–8.75% | 8.625–9.625% | 8.75–9.50% | Weakest tier — LTV capped at 70% |
Indicative pricing. Final rates depend on the full file profile. "Market Avg" is the midpoint we see across retail DSCR quotes borrowers bring us; our column reflects wholesale pricing across the panel.
DSCR Rate by LTV
Each 5% LTV increment adds roughly 0.125–0.250% to your rate. The 65% LTV vs 80% LTV spread is meaningful — ~0.50% on the same file.
| Loan-to-Value | Rate Add (vs 65% LTV) | Max LTV available |
|---|---|---|
| 65% LTV | Base (no add) | Standard |
| 70% LTV | +0.125% | Standard |
| 75% LTV | +0.250% | Standard |
| 80% LTV | +0.500% | Requires 700+ FICO |
| 85% LTV | +0.875% | Limited programs · 740+ FICO |
DSCR Rate by DSCR Ratio
Lower DSCR = higher risk for the lender = higher rate. Sub-1.0 ("no-ratio") programs exist but price meaningfully higher.
| DSCR Ratio | Rate Add (vs 1.25+ DSCR) | Notes |
|---|---|---|
| 1.25+ DSCR | Base (no add) | Strongest tier |
| 1.10–1.24 DSCR | +0.125% | Standard tier |
| 1.00–1.09 DSCR | +0.375% | Tight cash flow |
| 0.75–0.99 DSCR | +0.875% | Sub-1.0 program · LTV capped at 70% |
| No-Ratio (DSCR not run) | +1.250% | LTV capped at 65% · 700+ FICO |
Want Your Exact Rate?
The tables above are tier averages. Your actual quote depends on FICO, property, DSCR, loan size, and prepay — we'll quote it across 8–12 wholesale investors and tell you who wins.
Get My Exact Rate →DSCR Rates by Transaction Type
Purchase and rate/term refinance price similarly. Cash-out refis run higher because the lender takes on more risk pulling equity out.
DSCR Purchase Rate
Standard 700+ FICO, 75% LTV, 1.20+ DSCR, SFR. Strongest tier prices 6.50–7.25%.
Get purchase quote →DSCR Rate/Term Refinance
Replacing existing financing without taking equity out. Prices similar to purchase.
Get refi quote →DSCR Cash-Out Refinance
+0.25 to +0.50% over rate/term. Max 75% LTV cash-out on most programs. Full guide →
Get cash-out quote →California Bridge
Specialty $1M–$20M California bridge program. 60% LTV, 14–21 day close, interest-only. Full program →
Get bridge quote →DSCR Rates by Property Type
SFR is the baseline. Each non-SFR property type adds risk premium.
| Property Type | Rate Add (vs SFR) | Max LTV | Notes |
|---|---|---|---|
| Single-Family (SFR) | Base | 80% | Lowest pricing |
| 2-Unit (Duplex) | +0.000–0.125% | 80% | Essentially priced as SFR |
| 3-4 Unit | +0.125–0.250% | 75% | Slight LTV cap |
| 5+ Unit Multifamily | +0.250–0.500% | 70–75% | Commercial DSCR program · Program → |
| Warrantable Condo | +0.000–0.125% | 80% | Standard if HOA/project warranty |
| Non-Warrantable Condo | +0.375% | 75% | Limited lender pool |
| Condotel | +0.500–0.750% | 70% | Specialty program required |
| Short-Term Rental (Airbnb) | +0.000–0.250% | 75% | AirDNA accepted on most files · Guide → |
| Mixed-Use | +0.500% | 65–70% | Specialty program · ≥51% residential |
DSCR Rates by Borrower Type
Standard US borrowers price baseline. Non-traditional borrower profiles add a complexity premium.
| Borrower Type | Rate Add (vs US Citizen) | Max LTV | Notes |
|---|---|---|---|
| US Citizen / Permanent Resident | Base | 80% | Standard pricing |
| ITIN Borrower | +0.500–0.875% | 75% | ITIN-specific program |
| Foreign National | +0.750–1.500% | 70% | Tier-1 countries best · Guide → |
| LLC / Entity | Base | 80% | Standard structure for DSCR |
| Trust | +0.000–0.125% | 80% | Some lenders charge a doc fee |
| First-Time Investor | +0.000–0.250% | 75% | Some lenders cap LTV without investing history |
DSCR Rates by Loan Program: Fixed, ARM, Interest-Only
ARMs price 0.250–0.500% below 30-year fixed at origination. If you'll sell or refinance inside the fixed period, that's real money saved. Interest-only and 40-year amortization trade a slightly higher rate for a lower monthly payment — which can be the difference between a 1.05 and a 1.20 DSCR on a tight file.
| Program | Rate Range | Notes |
|---|---|---|
| 30-Year Fixed | 7.00–8.50% | Most common DSCR product |
| 5/1 ARM | 6.50–8.00% | 0.250–0.500% below fixed |
| 7/1 ARM | 6.625–8.125% | Mid-duration ARM option |
| 10/6 ARM | 6.75–8.25% | Long-duration ARM |
| Interest-Only (5-yr IO) | 7.25–8.75% | +0.125–0.250% over fully-amortizing · Guide → |
| Interest-Only (10-yr IO) | 7.375–8.875% | Longer IO period adds modest premium |
| 40-Year Amortization | 7.125–8.625% | Lower monthly payment, +0.125% rate |
| No-Ratio (sub-1.0 DSCR) | 8.00–9.50% | Specialty program · 65–70% LTV cap · Guide → |
DSCR Rates by State (Where State Matters)
Most DSCR lenders price uniformly across all 50 states. A handful of states have state-specific overlays. The state spread is usually under 0.125%, but worth noting on jumbo files.
- Texas: Some programs require 1.20+ DSCR (vs 1.00 elsewhere). State-specific cash-out rules apply. TX guide →
- California: Jumbo files ($1M+) face extra appraisal review. Bridge programs are state-specific. CA guide →
- Florida: Condo/condotel scrutiny is higher post-Surfside. Hurricane-zone insurance verification required. FL guide →
- New York: Mortgage tax adds material cost; some programs avoid NY entirely. NY guide →
- Other 46 states: Same baseline pricing across all DSCR programs. Browse every state guide →
Lock at This Week's Pricing
Pricing is stable and lock windows are open. Standard 30-day locks available. We'll quote your file against the full panel and lock the winner today.
Get My Quote & Lock →What Drives DSCR Loan Rates: The 6 Pricing Factors
Lenders blend these six factors into a single rate quote. Understanding each lets you predict where your file lands before applying.
FICO Score Highest impact
Biggest driver. Each tier worth 0.125–0.375%. The 620→760 spread on the same file is ~2.00%.
Loan-to-Value High impact
Each 5% LTV step worth 0.125–0.250%. The 65%→80% LTV spread is ~0.50%.
DSCR Ratio Medium impact
1.25+ is best tier. Each 0.10 drop below 1.25 costs ~0.125%. Sub-1.0 enters specialty pricing.
Prepayment Penalty Medium impact
5-yr declining prepay (5-4-3-2-1) is base. 3-yr prepay (3-2-1) adds ~0.250%. No prepay adds 0.50–0.75%.
Property Type Variable impact
SFR is base. 2-4 unit adds 0.125%. 5+ unit adds 0.25–0.50%. Condotel/non-warrantable adds 0.375–0.75%.
Loan Size Low impact
Sweet spot is $200K–$1.5M. Sub-$150K and over $2M start adding 0.125–0.375%.
How a DSCR Rate Is Actually Built
Underneath the tier adds, every DSCR rate is three components stacked:
- Risk-free base (10-year Treasury): The underlying cost of money. When the 10-year moves, all mortgage rates move directionally.
- MBS spread (agency or private): The premium investors demand over Treasuries to hold mortgage securities. Volatile during stress periods (e.g., March 2023, 2020), tight during calm markets.
- Non-QM premium: The additional premium DSCR commands over conforming. Driven by private securitization demand, which fluctuates with credit conditions.
Add all three and you have the wholesale lender's cost of funds. The retail/wholesale margin (typically 0.50–1.00%) lands on top. That's your quoted rate — which is also why shopping wholesale rather than retail matters more on DSCR than on conforming.
Looking Ahead: What to Watch
- Upcoming Fed decisions: The market is still debating the pace of cuts. A dovish surprise could pull DSCR rates 0.125–0.25% lower; a hawkish hold could nudge them up.
- Inflation prints (CPI/PCE): Each release moves the 10-year Treasury and, with it, DSCR pricing. A cooler print is bond-positive and tends to pull rates lower.
- Non-QM securitization demand: Investor appetite for DSCR paper has stayed firm in 2026, keeping non-QM-specific spreads tight, which helps DSCR pricing relative to conforming.
How DSCR Rates Compare to Other Investment Loan Rates
DSCR pricing sits between conforming investment loans (cheapest) and hard money / bridge loans (most expensive).
| Loan Type | Typical 2026 Rate | vs DSCR |
|---|---|---|
| Conventional Investment (Fannie/Freddie) | 6.00–7.25% | -0.50–0.75% vs DSCR (cheaper) |
| DSCR Loan (this page) | 6.375–9.25% | Baseline |
| Bank Statement Loan | 7.00–9.00% | Similar to DSCR · Compare → |
| Foreign National DSCR | 7.75–9.75% | +1.00–1.25% vs DSCR |
| Hard Money / Bridge | 9.00–12.00% | +2.50–3.50% vs DSCR · Compare → |
| California Bridge ($1M+) | 8.50% IO | Specialty product, 14–21d close |
Why DSCR is more expensive than conventional: DSCR loans are non-QM — they sit outside Fannie Mae / Freddie Mac guidelines, so lenders hold them on portfolio or sell to private securitizations rather than to the agencies. That risk premium is roughly 0.50–0.75% on identical files.
How to Get the Lowest DSCR Loan Rate on Your File
- Maximize your FICO before applying. Pull your tri-merge report, dispute errors, pay down revolving balances below 30% utilization. 30 days of cleanup can move you a tier.
- Aim for 65–70% LTV if your down payment allows. The 75% → 70% LTV step saves more in lifetime interest than the extra cash invested gives up in opportunity cost on most files.
- Pick a property with strong DSCR. A 1.30 DSCR property gets better pricing than a 1.05 DSCR property — and is safer cash flow. Run the numbers before going under contract.
- Accept the prepayment penalty. The 0.50–0.75% rate hit for no-prepay only makes sense if you'll refi or sell within 2–3 years.
- Shop wholesale, not retail. Wholesale brokers quote against 8–12 lender programs simultaneously. Retail desks at direct lenders quote one program.
- Use a 5/1 or 7/1 ARM if your hold horizon is short. ARMs price 0.250–0.500% below 30-year fixed at origination. If you'll sell or refi inside the fixed period, you save real money.
Frequently Asked Questions
As of the week of September 21, 2026, DSCR rates run 6.375–9.25% depending on FICO, LTV, DSCR, property type, and prepay. Strongest tier: 6.50–7.25%. Standard files: 7.25–8.00%. Weaker tier: 8.00–9.25%. Pricing has held roughly flat since mid-May.
6.375% on a 5/1 ARM, or 6.50–6.875% on a 30-year fixed, for the strongest tier: 760+ FICO, 65% LTV, 1.25+ DSCR, 5-yr prepay, SFR property, standard close.
DSCR loans are non-QM — outside Fannie/Freddie guidelines. The lender prices in the risk of underwriting against rental income vs borrower income. Expect ~0.50–0.75% premium over comparable conforming investment loans.
Purchase and rate/term refi price similarly. Cash-out refis run 0.25–0.50% higher. Gap widens above 70% LTV cash-out.
Mostly no. Texas, California, Florida, and New York have minor overlays. State spread typically under 0.125%.
Foreign national borrowers lack a US credit profile and face additional underwriting complexity. Lenders price in a 0.75–1.50% premium.
Wholesale lenders refresh rate sheets weekly, sometimes mid-week if Treasury rates move. This page updates every Monday. Quotes honored 14–21 days. Locks are 30–45 days standard.
If you have a property under contract, lock now — rate forecasting is unreliable. The 30-day lock cost is roughly 0.125% — cheap insurance against an unfavorable move. We can re-lock to better pricing if rates drop materially during your lock period (float-down, lender-permitting).
Yes — roughly 0.25% rate reduction per 1.00 point. Break-even is usually 6+ years. Worth it for long-hold files, not flips or short-term holds.
Both available. Most DSCR lenders offer 30-yr fixed, 5/1 ARM, 7/1 ARM, and 10/6 ARM, plus interest-only and 40-year amortization. ARMs price 0.250–0.500% below fixed at origination.
Across 3,469 DSCR loans we brokered from January 2025 to June 2026 ($1.58B in 49 states), the median closed at a 1.16 DSCR, 744 FICO, and $303,750 — with 47% cash-out refinances. See the full data report →
Related Resources
- Best DSCR Lenders of 2026
- DSCR Calculator
- How to Read a DSCR Loan Quote
- DSCR FICO Matrix
- DSCR LTV Limits
- DSCR Prepay Structures
- DSCR Cash-Out Refinance Guide
- Foreign National DSCR Loans
- Market Data & Economic Climate
Rates indicative based on wholesale lender pricing as of the week of September 21, 2026. Final quotes depend on full file profile and current market conditions. Page refreshes weekly. DSCR Capital Partners is a brand of UTM Financial, LLC (NMLS #2591548). Not a loan commitment. Equal Housing Lender.
What's Moving DSCR Rates Right Now
Pricing has held steady. DSCR rates have been range-bound since mid-May — strongest-tier files continue to quote around 6.50–6.875% and standard files in the mid-7s. No material week-over-week move in either direction.
Spreads stable. Agency and non-QM MBS spreads have stayed tight, keeping the premium DSCR commands over conforming roughly constant. Investor appetite for DSCR paper has remained firm through 2026.
Net effect: if you've been waiting for a dip, pricing is essentially where it sat in May — a stable entry, not a falling knife. The better trigger to lock is having your property under contract, not trying to time the market.