On this page
- DSCR loan down payment by lender
- What lowers your maximum LTV
- Credit score and your down payment
- DSCR vs conventional: the down payment
- Short-term rentals and 2-4 units
- Cash to close on a $300,000 rental
- Ways to buy with little of your own cash
- A realistic low-cash plan
- Watch out for "zero down" offers
- Bottom line
- Questions to ask before you apply
- Related guides
- Frequently asked questions
Based on each lender's published information; we did not apply for loans.
Searching for a DSCR loan with no down payment usually ends at the same place: lenders want you to own part of the property on day one. Every DSCR lender on this page publishes a maximum loan-to-value, and none goes above 85%. That means at least 15% down on a purchase, and 20% at most lenders. What you can do is cut the cash that comes out of your own pocket, with equity from another property, seller concessions, or a hard money purchase refinanced into a DSCR loan.
DSCR loan down payment by lender
Each lender's stated maximum loan-to-value for a purchase, and what that means in cash on a $300,000 rental:
| Lender | Max purchase LTV | Minimum down | Down on a $300,000 rental | Conditions |
|---|---|---|---|---|
| Visio Lending | 85% | 15% | $45,000 | As little as 15% down |
| Griffin Funding | 85% | 15% | $45,000 | 15% down with 740+ credit on loans up to $1,000,000; 20% standard |
| Angel Oak (through loan originators) | 85% | 15% | $45,000 | Minimum 720 FICO; 680 FICO tops out at 75% |
| Express Capital Financing | 85% | 15% | $45,000 | Up to 85% is rare and usually needs exceptional credit or cash flow |
| Kiavi (loans made by Figure) | 80% | 20% | $60,000 | Up to 80% LTV |
| Lima One Capital | 80% | 20% | $60,000 | Up to 80% LTV, single properties and portfolios |
| LendingOne | 80% | 20% | $60,000 | Purchases and rate/term refinances |
| Easy Street Capital | 80% | 20% | $60,000 | Acquisitions and rate-term refinances |
| CoreVest | 80% | 20% | $60,000 | Up to 80% of property value |
| New Silver | 80% | 20% | $60,000 | Up to 80% of purchase price and of value |
| Upright | 80% | 20% | $60,000 | Reduced for interest-only, unleased properties and first-time investors |
| RCN Capital | 80% | 20% | $60,000 | Lesser of 80% of as-is value or 80% of cost, at 700+ credit |
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.
So the real floor is 15% down, available at four of the twelve lenders and usually tied to strong credit: 740+ at Griffin Funding, 720+ at Angel Oak. Every rate and requirement for these lenders is on DSCR loans.
What lowers your maximum LTV
- Credit score: RCN Capital lends 80% at 700+, 75% at 680 to 699 and 65% at 660 to 679 (more tiers in the table below).
- No-ratio loans: Express Capital says DSCR loans below 1.0 could drop to 65-70% LTV.
- Interest-only and unleased properties carry reduced leverage at Upright, and first-time investors are reduced modestly.
- Cash-out refinances cap lower: 75% at most lenders, and Griffin needs a DSCR of 1.0 or higher to reach 80%.
Credit score and your down payment
Where lenders publish tiers, the lowest down payments go to the highest scores:
| Lender | Score for its lowest down payment | Lowest down payment | Below that |
|---|---|---|---|
| Griffin Funding | 740+ | 15% (loans up to $1,000,000) | 620 minimum; 20% standard |
| Angel Oak | 720+ | 15% (85% LTV) | 680 tops out at 75% LTV (25% down) |
| RCN Capital | 700+ | 20% (80% LTV) | 680 to 699: 25%; 660 to 679: 35% |
| Visio Lending | Not published for 85% (680 general minimum) | 15% (85% LTV) | Its rental guide also cites 20% to 30% |
From each lender's own pages, read October 29, 2026. Down payment = 100% minus the maximum LTV. Visio's general minimum score and guide range are from its long-term rental guide. Upright also trims leverage modestly for first-time investors.
DSCR vs conventional: the down payment
A conventional investment-property loan is not always a bigger down payment. Fannie Mae's eligibility matrix (dated August 5, 2026) allows up to 85% LTV on a 1-unit investment purchase, but 75% on 2-4 units, 75% on a limited cash-out refinance and 75% or 70% on cash-out. It also requires six months of reserves for an investment property transaction. The trade-off is income documentation and a cap on financed properties; the full comparison is on DSCR loan vs conventional loan.
Short-term rentals and 2-4 units
Expect more down on vacation rentals and small multifamily. CoreVest's vacation rental loan goes up to 70% LTV, 30% down, against 80% on its long-term rental loan. Griffin Funding says short-term rental files carry their own coverage minimums and LTV limits without publishing them, and Fannie Mae's conventional matrix drops from 85% on a 1-unit investment purchase to 75% on 2-4 units. For a short-term rental, CoreVest's 70% cap means 30% down; STR lenders are compared on DSCR loans for short-term rentals.
Cash to close on a $300,000 rental
| Leverage | Down payment |
|---|---|
| 85% LTV (Visio; Griffin at 740+; Angel Oak at 720+) | $45,000 |
| 80% LTV (most lenders) | $60,000 |
| 65% LTV (RCN at 660 to 679 credit) | $105,000 |
Closing costs, reserves and lender fees come on top. One way to soften them: Angel Oak allows up to 6% seller concessions, which on $300,000 is up to $18,000. Ask the lender what a seller concession may pay for and whether it lowers the price used for LTV. Angel Oak's page also says gift funds okay, so a family member's gift can count toward your cash.
Lender fees count too. At Griffin Funding, with its flat $1,990 lender fee, 15% down on $300,000 means $46,990 before third-party costs; 20% down means $61,990.
Ways to buy with little of your own cash
1. Use equity in a rental you already own
If you own a rental worth $400,000 with $200,000 owed, a cash-out refinance at 75% LTV frees $100,000 before costs; at Griffin's 80% (with a 1.0 DSCR) it frees $120,000. To keep the existing mortgage, a second lien works too: Truss Financial Group's DSCR HELOC at 80% CLTV leaves $120,000 of room, while Griffin's 70% CLTV HELOC leaves $80,000, under its $100,000 minimum line. See DSCR cash-out refinance and DSCR HELOC.
2. Buy with hard money, then refinance into a DSCR loan
Buy a fixer for $200,000, put $40,000 into it, and it appraises at $320,000. Kiavi's fix-and-flip terms (up to 100% of purchase and 100% of rehab, capped at 80% of ARV) cover the full $240,000. Once it is rented, a 75% cash-out DSCR refinance on $320,000 is $240,000, enough to repay the hard money loan; at 80% it is $256,000. Kiavi allows rental cash-out immediately on Kiavi bridge loans; Griffin requires no seasoning, while Upright sizes files inside six months of purchase off the lower of cost or appraised value. You still pay points, interest and closing costs on both loans: six months of interest at Kiavi's 8.25% starting rate on $240,000 is $9,900 alone. How 100% hard money financing works is on no money down hard money loans.
3. Finance several rentals together
Blanket and cross-collateralized loans put several properties under one loan: Easy Street's blanket loans start at $225,000 with three or more properties, Upright lends up to $5,000,000 on a cross-collateralized portfolio in one state, and CoreVest's portfolio loans reach 70% LTV. Equity in properties you own can support the whole loan, but these lenders do not publish a zero-down portfolio purchase.
4. Bring a partner
A money partner can supply the down payment in exchange for a share of the LLC. Lenders then look at every owner: Easy Street requires a full guaranty from anyone owning more than 25%. See DSCR loans for an LLC.
A realistic low-cash plan
- Check your score against the 85% tiers. 740 at Griffin Funding, 720 at Angel Oak: crossing a tier can cut 5% of the price from your down payment.
- Price the equity you already have. A cash-out refinance or DSCR HELOC on a rental you own can supply the down payment.
- Negotiate seller concessions where the lender allows them, up to 6% at Angel Oak, to cover costs.
- Or buy a fixer with hard money and refinance at 75% to 80% once it is rented, so the new value does the work.
- Keep reserves. Thin equity leaves little room if a tenant leaves; Fannie Mae, for comparison, wants six months on an investment purchase.
Watch out for "zero down" offers
If a program advertises a DSCR loan with no down payment, ask exactly how: is it a second loan from the seller, a cross-collateral lien on another property you own, or a hard money loan with a short term? None of the lenders above publishes a 100% DSCR purchase loan, so the money is coming from somewhere, often your existing equity. Read the pros and cons of DSCR loans before you stretch leverage.
Bottom line
A true zero-down DSCR loan is not on any of these lenders' published terms. Plan on 20% down at most lenders, $60,000 on a $300,000 rental, or 15% ($45,000) if your score clears 720 to 740 at the lenders that offer 85%. The cash does not have to be savings: equity in a rental you own, seller concessions where allowed, and a hard money purchase refinanced at the new value are how investors with little cash on hand actually do it. Each costs something, so run the numbers on both loans before you commit.
Questions to ask before you apply
- What is the maximum LTV for my credit score, property type and a lease in place?
- Do you allow seller concessions, and up to how much?
- How long must I own a property before a cash-out refinance?
- Do you accept a second lien behind your first mortgage, or gifted funds for the down payment?
Related guides
Frequently asked questions
Can you get a DSCR loan with no money down?
Not from the lenders on this page. The highest published maximum is 85% loan-to-value (Visio Lending, Griffin Funding at 740+ credit, Angel Oak at 720+), so you need at least 15% down; most lenders stop at 80%.
Do DSCR loans require 20% down?
At most lenders, yes: Kiavi, Lima One, LendingOne, Easy Street, CoreVest, New Silver, Upright and RCN cap purchases at 80% LTV. Visio, Griffin Funding and Angel Oak allow 15% down with conditions.
What is the lowest down payment on a DSCR loan?
15%, from Visio Lending, Griffin Funding (740+ credit, loans up to $1,000,000) and Angel Oak (720+ credit). Express Capital Financing says its 85% LTV is rare.
Is $10,000 enough for a down payment on a DSCR loan?
Rarely. The smallest published minimum loan among these lenders is $50K (Express Capital Financing). At 80% LTV that needs $12,500 down; only at its rare 85% LTV does it drop to about $8,824.
What credit score do I need for 15% down on a DSCR loan?
740 or higher at Griffin Funding (on loans up to $1,000,000) and 720 or higher at Angel Oak. Visio Lending does not publish a score for its 85% program; its general minimum is 680.
How can I buy a rental with little cash using DSCR loans?
Use equity in a rental you own (a cash-out refinance or DSCR HELOC), or buy with a hard money loan that funds purchase and rehab and refinance into a DSCR loan once the property is rented.