Griffin Funding DSCR loan review

Based on each lender's published information; we did not apply for loans.

Griffin Funding is a licensed mortgage lender. Its DSCR page says it is licensed in 47 states plus D.C., regulated by the CFPB, and approved by HUD. Its DSCR loan is the product most investors search for, and it sits next to two second-lien options and short-term private money loans. It says it has funded more than 2,300 DSCR loans for over $708 million. Everything below comes from Griffin's own pages.

Griffin Funding DSCR loan requirements

From each company's own website, read October 29, 2026. "Not stated" means the company does not publish it on the pages linked. Terms change; confirm with the lender. Not financial advice.

A DSCR loan qualifies you on the property's rent instead of tax returns or pay stubs: the lender divides monthly rent by the monthly payment including taxes, insurance and HOA. If you are new to the ratio, start with the DSCR ratio guide or the DSCR calculator.

Griffin Funding DSCR loan rates

Griffin dates its DSCR rates: in October 2026 they start at 5.99% for 1-year ARMs, with 30-year fixed, 40-year fixed and 5-year ARM options from 7.125%. Your rate depends on credit score, DSCR, down payment, points, and prepayment penalty term.

On a $300,000 loan, 7.125% fixed for 30 years is $2,021.16 a month in principal and interest; the 1-year ARM's starting rate of 5.99% gives $1,796.72, but an ARM's rate can change after the first year. Compare starting rates from other lenders on DSCR loan rates.

Down payment: 20% or 15%

On a $400,000 rental, the standard 20% down means a $320,000 loan; 15% down (740+ credit, loans up to $1,000,000) means $340,000. With the flat $1,990 lender fee, that is $81,990 or $61,990 before third-party closing costs and reserves.

To qualify at a 1.0 DSCR, the rent has to cover the full monthly payment. With illustrative taxes of $350 and insurance of $125 a month, the 20% down loan's payment is $2,630.90, so rent of at least $2,630.90 gives a 1.0 ratio. Griffin has no minimum, so a lower ratio can still qualify, but its cash-out loans need 1.0 to reach 80% LTV. For ways to put less down, see DSCR loans with no down payment.

Cash-out refinance with Griffin

A Griffin DSCR cash-out refinance goes up to 80% LTV (80% requires a DSCR of 1.0 or higher) with no seasoning required, and you keep at least 20% of the equity. On a $500,000 rental with $200,000 owed, 80% is a $400,000 loan and $200,000 before costs, but only if the rent covers the payment at a 1.0 ratio. Other lenders' rules are on DSCR cash-out refinance.

DSCR HELOAN and HELOC

Both are second mortgages, so the first mortgage and its rate stay in place. Properties titled in an LLC or corporation qualify. Griffin's own analysis of HMDA data puts the 2025 average HELOC on an investment property at $384,000.

On a $500,000 rental with a $200,000 mortgage, an 80% cash-out refinance and the 80% CLTV HELOAN both reach $200,000; the refinance replaces your first mortgage, the HELOAN does not. The 70% CLTV HELOC tops out at $150,000. Published DSCR HELOC programs are compared side by side on DSCR HELOC.

Private money loans for low credit or no cash flow

For borrowers who cannot use a DSCR loan, Griffin lists private money programs: a no-FICO investor loan where no minimum credit score is required, up to 50% LTV and loan amounts as high as $5 million, and a program where no cash flow or minimum rental income is required, up to 75% LTV and $5 million. Business owners with non-traditional income are among those it names. These are hard money style loans; see business hard money loans.

Monthly payments at Griffin's fixed rate

Principal and interest on a 30-year fixed loan at Griffin's October 2026 starting rate of 7.125%, across its loan range. Taxes, insurance and HOA dues come on top, and your rate may be higher.

Short-term rentals and bridge loans

Griffin says it qualifies short-term rentals using market rent from the appraisal, documented rental history, or AirDNA-style market data, depending on the program, and that short-term rental files carry their own coverage minimums and LTV limits. It does not publish those limits, so ask for them up front; other lenders' STR rules are on DSCR loans for short-term rentals.

For a property that is not ready to rent, Griffin also offers short-term RTL bridge loans: interest-only payments, a minimum loan of $100,000, and closings that can typically happen within 7-10 days; its page says bridge loans in general typically run 12 to 24 months. Many investors pair a bridge loan with a later DSCR refinance; see bridge loans.

Griffin Funding vs Kiavi

Both lend nationally on rentals; the differences are in who can borrow and what is published.

Rates, ratios and leverage from each lender's DSCR page as listed on our DSCR loans page. Full Kiavi details are in our Kiavi review.

Griffin Funding vs other DSCR lenders

Published terms from each lender's own DSCR page, from our DSCR loans comparison.

Griffin's $4.5 million maximum is the largest in this table. Griffin and Easy Street publish no minimum DSCR, Griffin and Visio allow 15% down, and Lima One, Easy Street and LendingOne cap purchases at 80%.

What borrowers use it for

In September 2026 Griffin says it funded 85 DSCR loans for $29.7 million, averaging $349,562 with a high of $2,000,000: 64% cash-out refinances, 29% purchases and 7% rate-and-term refinances.

LLC or personal name

Griffin says you usually do not need an LLC to get a DSCR loan: loans can close in your name or a U.S. LLC, though some states, programs or structures require entity vesting. An LLC can own the property and borrow, but an owner generally still provides a personal guarantee. A new LLC may qualify without business credit history; form it, get an EIN and have it in good standing before closing. It also warns to review any due-on-sale risk before moving a mortgaged property into an LLC. More on DSCR loans for an LLC.

Pros and cons

Where Griffin's pages disagree

The DSCR page says Griffin is licensed in 47 states plus D.C.; the HELOAN and HELOC page says it lends on investment properties in all 50 states and Washington, D.C. Confirm your state before you apply.

How to qualify, step by step

1. Check the rent. Divide expected monthly rent by the full payment. Griffin has no minimum, but a ratio of 1.0 or more widens your options, including 80% cash-out.
2. Know your credit tier. 620 is the floor; 740 unlocks 15% down on loans up to $1,000,000.
3. Size the down payment. 20% standard, plus the $1,990 lender fee and third-party costs.
4. Pick how you will hold title. Your own name or a U.S. LLC with a personal guarantee; trusts and other entities by program.
5. Order the appraisal. Required for value and rental income on every DSCR loan.

Questions to ask Griffin before you lock

• What prepayment penalty term is built into my quoted rate, and what would the rate be with none?
• Does my file qualify for the 15% down program, and which "program conditions" apply?
• If my DSCR is below 1.0, how many months of reserves will you require?
• For a short-term rental, what coverage minimum and LTV limit apply?
• Is my state served for this product, given the 47-state and 50-state statements on your pages?

When to look elsewhere

• Credit below 620. Griffin's DSCR loan is out; its no-FICO private money loan caps at 50% LTV. Compare bad credit hard money lenders.
• A small loan. Griffin starts at $100,000; RCN Capital lists DSCR loans from $70K and Express Capital Financing from $50K.
• A home you will live in. Griffin's DSCR loans are for rentals only; see owner-occupied hard money loans.
• A renovation first. Rehab and flip financing is covered on fix-and-flip loans.

Verdict

Griffin Funding fits rental investors who want a DSCR loan without a minimum ratio, a 15% down option at 740+ credit, a published lender fee and loans above the $2 to $3 million caps common elsewhere. It also fits owners who want to tap equity without refinancing a low-rate first mortgage. It is a weaker fit for credit under 620 (its private money loans then cap at 50% LTV) and for loans under $100,000. Ask for the prepayment penalty schedule on your rate quote, since Griffin prices by penalty term.

Related guides