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DSCR Loans by State
Simply Approved Mortgages arranges business-purpose DSCR loans on non-owner-occupied investment property in 37 states. Each state page covers the local tax, insurance, entity vesting and prepayment realities that decide whether a rental actually covers its payment.
Simply Approved Mortgages LLC arranges business-purpose DSCR investment property loans in 37 states, where permitted by applicable law and pursuant to applicable licensing requirements or exemptions. Consumer residential mortgages — a home you or a family member will occupy — are arranged only in Florida and Colorado. Pick your state below for the local DSCR detail.
- ✓37 states in the business-purpose investor footprint.
- ✓DSCR loans are for non-owner-occupied property only, never a home you will live in.
- ✓Consumer residential mortgages remain Florida and Colorado only.
- ✓Each state page carries its own tax, insurance, entity and prepayment notes.
What this means for you: open your state page, run the property through the cash-flow calculator, then have a Simply Approved Mortgages Loan Officer confirm the ratio with parcel-level taxes and a bindable insurance quote.
Written by
Simply Approved Mortgages Team
Licensed Loan Officers · NMLS# 2620881
Get your personalized scenario summary
Complete the short request and a Simply Approved Mortgages Loan Officer sends back a written summary built from your own numbers: estimated payment breakdown, estimated cash to close, the loan structures that fit your file, and what documentation the file will need.
- Estimated monthly payment with taxes and insurance
- Estimated cash to close for your scenario
- Loan options your profile may fit
- Document checklist for your file
Takes about 3 minutes · Summary shown on screen and emailed to you
Illustration only, generated from the information you enter. Not a rate quote, lock, loan estimate, pre-qualification, offer, approval, or commitment to lend. Figures are subject to credit, income, asset and property review and full lender underwriting; binding numbers appear on your Loan Estimate.
Scenario summary
- Purchase price entered
- $412,000
- Down payment entered
- $20,600
- Estimated loan amount
- $391,400
- Estimated cash to close
- $14,300
- Programs reviewed
- 4
Sample layout with example figures — your own numbers replace these. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
Two different footprints, and why it matters
Simply Approved Mortgages LLC is a mortgage broker, not a direct lender. Consumer residential mortgages — a house you or a family member will occupy — are arranged in Florida and Colorado only. Business-purpose loans on non-owner-occupied investment property, which is what a DSCR loan is, are arranged across a wider footprint where permitted by applicable law and pursuant to applicable licensing requirements or exemptions. If a state is not listed below, we cannot take an inquiry for it.
Choose your state
- DSCR loans in Alabama — Birmingham and Huntsville
- DSCR loans in Alaska — Anchorage and Fairbanks
- DSCR loans in Arkansas — Little Rock and Fayetteville
- DSCR loans in Colorado — Denver and Colorado Springs
- DSCR loans in Connecticut — Bridgeport and Hartford
- DSCR loans in Delaware — Wilmington and Dover
- DSCR loans in District of Columbia — Washington
- DSCR loans in Florida — Miami and Tampa
- DSCR loans in Georgia — Atlanta and Augusta
- DSCR loans in Hawaii — Honolulu and Hilo
- DSCR loans in Illinois — Chicago and Aurora
- DSCR loans in Indiana — Indianapolis and Fort Wayne
- DSCR loans in Kansas — Wichita and Overland Park
- DSCR loans in Kentucky — Louisville and Lexington
- DSCR loans in Louisiana — New Orleans and Baton Rouge
- DSCR loans in Maine — Portland and Lewiston
- DSCR loans in Maryland — Baltimore and Frederick
- DSCR loans in Massachusetts — Boston and Worcester
- DSCR loans in Michigan — Detroit and Grand Rapids
- DSCR loans in Mississippi — Jackson and Gulfport
- DSCR loans in Missouri — Kansas City and St. Louis
- DSCR loans in New Hampshire — Manchester and Nashua
- DSCR loans in New Jersey — Newark and Jersey City
- DSCR loans in New Mexico — Albuquerque and Las Cruces
- DSCR loans in New York — New York City and Buffalo
- DSCR loans in Ohio — Columbus and Cleveland
- DSCR loans in Oklahoma — Oklahoma City and Tulsa
- DSCR loans in Pennsylvania — Philadelphia and Pittsburgh
- DSCR loans in Rhode Island — Providence and Warwick
- DSCR loans in South Carolina — Charleston and Columbia
- DSCR loans in Tennessee — Nashville and Memphis
- DSCR loans in Texas — Houston and San Antonio
- DSCR loans in Virginia — Virginia Beach and Chesapeake
- DSCR loans in Washington — Seattle and Spokane
- DSCR loans in West Virginia — Charleston and Huntington
- DSCR loans in Wisconsin — Milwaukee and Madison
- DSCR loans in Wyoming — Cheyenne and Casper
Want these numbers built around your file?
A short request is all it takes to get a written scenario summary back from a Simply Approved Mortgages Loan Officer. Binding figures appear on your Loan Estimate.
What changes state to state
- Taxes and insurance. Both sit inside PITIA, so the same rent produces a very different coverage ratio in a high-tax or high-premium state than in a low-cost one.
- Prepayment structure. Some states prohibit a prepayment penalty on these loans outright, some restrict it, and some cap the term. That changes both your exit flexibility and your pricing.
- Closing practice. Attorney-closing states, transfer taxes and recording charges change your cash to close and your short-hold exit math.
- Property mix and rental rules. Condo, short-term rental and voucher realities differ sharply by state and by municipality.
What does not change
Everywhere we lend, a DSCR file is qualified on rent divided by PITIA rather than on your personal income, entity vesting with a personal guaranty is standard, and the loan carries a business-purpose affidavit. Program parameters are set by each investor program and can change without notice.
Compare loan officer compensation on your mortgage quote
Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.
Compensation difference on this illustration: $3,750.
How lower compensation can help you
When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.
Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.
A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.
As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.
Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.
Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.
Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
Send your DSCR scenario — get the summary emailed as a PDF
Enter the loan request and the property detail a DSCR file is actually underwritten on. You will see the estimated coverage ratio as you type, and on submit we email you the scenario plus a PDF summary and route it to a Simply Approved Mortgages Loan Officer for review. Submitting this is not an application for credit and is not a commitment to lend.
Assumptions, methodology, and limitations
The coverage ratio shown divides the gross monthly rent you enter by the estimated PITIA for the loan request you enter: principal and interest at your own scenario rate and term (or interest only, if selected), plus one twelfth of the annual property taxes and insurance you enter, plus monthly HOA dues and flood insurance. Loan-to-value divides the requested loan amount by the purchase price or value you enter.
Every figure is an estimate built only from your inputs. The scenario rate is a modeling input you control, not a rate offered to you, and nothing here is a quote, rate lock, offer, or commitment to lend. Underwriting uses the appraisal and the appraiser rent schedule or executed lease, verified parcel taxes, a bindable insurance quote, and current program parameters, which can differ from what you enter and can change without notice.
Results are illustrative estimates only and are not a quote, lock, offer, or commitment to lend. No rate, APR, or program approval is implied. Binding figures appear on your Loan Estimate. Eligibility, terms, and availability vary by borrower, property, lender, loan program, and state.
Talk through your scenario today
A Simply Approved Mortgages Loan Officer can confirm which of these paths actually fits your credit, income, and property. Educational only, no obligation.
Purchase market update
What buyers should know this month
30-Yr Fixed · national avg
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15-Yr Fixed · national avg
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2026 buying power
Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125
Compare a long-term lease, Section 8, and a short-term rental
The same house produces three different files depending on how you rent it. Enter your payment and your own operating assumptions, pick the county so the voucher column starts from the published Fair Market Rent, and compare what is left for debt service under each strategy. Every figure is an illustrative estimate, not a quote, lock, offer, approval, or commitment to lend, and none of it is a projection of what your property will earn.
Shared inputs
Published Fair Market Rent for this selection: loading… a month. HUD source
Lease and voucher assumptions
Short-term rental assumptions
Optional. We look up published market performance for the address and fill the nightly rate and occupancy below. You can edit both afterwards.
Short-term operating costs are usually the largest of the three strategies, and the gross figure alone is never the comparison.
| Strategy | Gross after vacancy | Net before debt service | Cash flow vs PITIA | Coverage ratio |
|---|---|---|---|---|
| Long-term lease12-month lease, market rent | $2,444 | $2,200 | $-200 | 0.92 |
| Housing Choice Voucher (Section 8)HUD Fair Market Rent × payment standard | $0 | $0 | $-2,400 | — |
| Short-term rentalNightly rate × occupancy | $3,705 | $2,297 | $-103 | 0.96 |
On the assumptions entered, short-term rental leaves the most income before debt service. That is arithmetic, not advice: the strategy a lender will actually underwrite depends on the documentation available, the program, and whether the use is permitted at the address.
Long-term lease
- What underwriting reads
- The executed lease or the appraiser rent schedule (Form 1007/1025), commonly the lower of the two.
- Income pattern
- One tenant, one renewal cycle a year.
- What to check first
- A single move-out takes the whole income to zero until it re-leases.
Housing Choice Voucher (Section 8)
- What underwriting reads
- The executed HAP contract plus the tenant portion, generally compared with market rent.
- Income pattern
- The agency portion is paid by the PHA on a set schedule; the tenant portion stays your collection risk.
- What to check first
- The unit must pass inspection, and the PHA has to find the rent reasonable before the contract starts.
Short-term rental
- What underwriting reads
- Twelve months of platform or property-manager statements, or a market revenue projection where a program accepts one.
- Income pattern
- Seasonal and event-driven; revenue can swing widely month to month.
- What to check first
- Local ordinances, HOA rules, licensing, and a landlord policy that does not cover nightly stays.
Next steps
Emailing your Rental strategy comparison scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.
Assumptions, methodology, and limitations
Each column starts from the income you enter, reduces it by the vacancy allowance you enter, then subtracts the operating-cost percentage you enter to reach net income before debt service. The voucher column starts from the published HUD Fair Market Rent for the county and unit size you select, multiplied by the payment standard percentage you enter. The short-term column multiplies your nightly rate by 30.42 average nights a month and your occupancy percentage. Coverage ratio divides net income before debt service by the monthly PITIA you enter.
Every figure is an estimate built from your own inputs and is not a quote, rate lock, offer, approval, or commitment to lend, and it is not a projection of income the property will earn. A Fair Market Rent is a published schedule, not an approved rent: the public housing agency sets the payment standard, must find the rent reasonable against comparable unassisted units, and must pass the unit at inspection before a contract begins. Short-term rental use may be restricted or prohibited by local ordinance or HOA rules, and requires insurance written for nightly stays. Lenders differ on which documents they will accept for each strategy and on how they treat vacancy and expenses, and program parameters can change without notice.
Illustrative only. Binding figures appear on your Loan Estimate, and terms vary by borrower, property, lender, program, and state.
Related tools
Tools for a DSCR investment property file
Only the estimators that apply to this kind of file. Every output is an illustrative estimate built from figures you enter — not a quote, rate lock, offer, approval, or commitment to lend.
Business-purpose loans are for non-owner-occupied property only. Program availability, leverage and terms vary by state, property and program, and can change without notice. Simply Approved Mortgages LLC is a mortgage broker and arranges, but does not make, loans. Equal Housing Opportunity.
DSCR loans by state — availability questions
Answers to the most common DSCR loans by state — availability questions, written by licensed loan officers.
Ask SAM anything about mortgages
SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.
Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.
Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.
Trusted government resources
These independent government resources can help you research mortgage programs, rates, and your rights before you apply.
HUD USER
HUD Fair Market Rents — county-level rent data
CFPB Regulation Z
CFPB — what makes a loan business-purpose rather than consumer credit
NMLS
NMLS Consumer Access — verify our license
Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.
How this page connects
Where this fits in the DSCR and investor financing library
This page sits inside our DSCR and investor financing coverage.
What most readers open next
- The short-term rental analyzerBecause nightly-rate markets need a different income test than long-term rent.
Explore the full guide
Keep reading — the rest of the buying playbook
Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.
Guide
DSCR Loans (national guide)
How the program family works end to end.
Read the guide →Guide
DSCR Loan Requirements
Credit, reserves, ratio floors and property eligibility.
Read the guide →Guide
DSCR Calculator
Rent against PITIA, with your own numbers.
Read the guide →Guide
No-Ratio DSCR Loans
When the property will not cover itself.
Read the guide →Guide
DSCR Rate-and-Term Refinance
Exit bridge or hard-money debt.
Read the guide →Guide
DSCR Cash-Out Refinance
Recycle equity into the next deal.
Read the guide →Guide
Section 8 Rental Property Loans
Voucher rents, payment standards and HAP.
Read the guide →Guide
LLC Mortgage for Investors
Entity vesting and guaranties.
Read the guide →Internal library
Related mortgage guides across our library
Follow the next relevant guide for your scenario.
Purchase mortgages
Buying a home
Start My Approval
Complete this short request and a Simply Approved Mortgages Loan Officer will personally review your scenario. The form only asks what your program actually needs. Submitting it is not an application for credit and is not a commitment to lend.
Tell us about your scenario
The form below is tailored to Non-QM loan — only the questions and documents your program needs.
Business-purpose loans are arranged only in states where we are permitted to do so under applicable licensing requirements or exemptions. We ask first so we never collect a mortgage inquiry we are not licensed to act on.
Non-QM programs use alternative income documentation for self-employed and investor borrowers.
A range is enough here — no credit report is pulled and your credit is not affected.
Illustrative estimate only — not a quote, rate lock, offer of credit, or commitment to lend.
Submitting this form is not an application for credit and is not a commitment to lend. No credit report is pulled at this step.
Follow our reporting
Add Simply Approved Mortgages as a preferred source on Google
We update these guides as HUD, FHFA, VA, USDA and CFPB publish new figures. If you want our updates to show up more often when you search Google, you can mark us as a preferred source from the Top Stories carousel:
- 1Sign in to your Google account and search a mortgage topic such as "mortgage rates".
- 2Select the icon next to "Top stories" to open the preferred sources panel.
- 3Search for Simply Approved Mortgages, tick the box, and save.
Preferred sources is a Google Search feature controlled entirely by you and by Google. Simply Approved Mortgages LLC (NMLS #2620881) does not control search results and makes no representation about how or whether our content will appear. Educational content only — not a quote, lock, offer, or commitment to lend.
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Equal Housing OpportunityMortgage Broker — Not a LenderNMLS ID# 2620881NMLS Consumer AccessFlorida Mortgage Broker License #MBR7685Colorado Mortgage Company RegistrationLicensing & Disclosures
Simply Approved Mortgages LLC | NMLS #2620881
Florida Branch Office (Miami, FL) | Branch NMLS #2688012
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Business Phone: (877) 813-7219
Equal Housing Opportunity
Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.
Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.
Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.
Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.
Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.
Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.
Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, VA, USDA, or any other federal, state, or local government agency. References to government agencies, programs, benefits, data, forms, or resources are provided for informational purposes and do not imply government sponsorship or endorsement of Simply Approved Mortgages LLC.
Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.
No professional advice. Content on this site is educational and general in nature and is not legal, tax, accounting, financial, investment, estate-planning, or individualized government-benefits advice. Consumers should consult appropriate qualified professionals regarding their individual circumstances.
Third-party content. References or links to government agencies, lenders, assistance programs, products, services, or other third-party websites are provided for informational purposes or convenience. Simply Approved Mortgages LLC does not control and is not responsible for third-party content, availability, accuracy, or privacy practices.
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Simply Approved Mortgages LLC, 633 W 5th St, Ste 2600, Los Angeles, CA 90071 · 877-813-7219 · support@simplyapprovedmortgages.com. State licensing details available at the NMLS Consumer Access link above. © 2026 Simply Approved Mortgages LLC.