Two financing lanes, six programs.
Every Arizona investor sits in one of two lanes: conventional Fannie / Freddie financing for properties one through ten, or non-agency DSCR / portfolio for everything else. We work both, and pick by file, not by what's easiest to sell.
Lane 1 — Conventional Investor Financing (Properties 1–10)
Fannie Mae and Freddie Mac investor guidelines. Cleanest pricing on the menu. The rules tighten meaningfully at 5+ financed properties and again at 7+.
| Property number in your portfolio | Purchase max LTV | Cash-out max LTV | Min FICO* |
|---|---|---|---|
| 1–4 (1-unit) | 85% | 75% | 620 |
| 1–4 (2–4 unit) | 75% | 70% | 660 |
| 5–6 (1–4 unit) | 75% | 70% | 720 |
| 7–10 (1-unit) | 70–75% | 65–70% | 720 |
| 7–10 (2–4 unit) | 70% | 65% | 720 |
*Indicative. Conventional investor guidelines are set by Fannie Mae and Freddie Mac and updated periodically. Reserves typically run 2 months PITIA per financed property.
Lane 2 — DSCR & Portfolio (Property 11+, or any property at any number)
| Program | Best for | Typical max LTV | Min FICO* |
|---|---|---|---|
| DSCR Loan | Single property, rent covers payment | 80% purchase / 75% cash-out | 660 |
| Short-Term Rental | Airbnb / Vrbo / vacation rental investors | 75% purchase / 70% cash-out | 660 |
| Cash-Out Investor Refi | Pulling equity out of an existing rental for redeployment | 70–75% | 680 |
| Bank Statement Investor | Self-employed investor, alt-doc qualifying | 80% purchase | 660 |
| 11+ Property Portfolio | Investors past Fannie / Freddie's 10-property cap | varies | 700+ |
*Indicative across our program guidelines. Specific program tiers depend on FICO, DSCR, occupancy, and property type.
Decision shortcut by portfolio stage
| Portfolio stage | Typical financing path |
|---|---|
| Properties 1–4 | Maximum leverage and strongest conventional pricing are usually easiest here. |
| Properties 5–6 | Conventional may still work, but underwriting and reserves tighten. |
| Properties 7–10 | Conventional can remain possible, but leverage and flexibility often tighten further. |
| Property 11+ | DSCR and portfolio financing become primary scaling tools. |
Specific eligibility varies by file. We'll model the cleanest path during the consultation.
Why many investors eventually move beyond conventional financing
Conventional financing offers excellent pricing early in portfolio growth. Eventually, the rules tighten:
- Lower leverage at higher property counts
- Stricter reserve requirements per financed property
- More income scrutiny as the portfolio grows
- Property-count limitations capping growth at ten
That's where DSCR and portfolio lending become important scaling tools. The goal is not just approval — it's preserving acquisition velocity as the portfolio grows.
Map the financing path that supports your next stage of growth.
Bring the property's rent estimate, target purchase price, and current portfolio structure. We'll model the financing path that best supports the next stage of growth.