EasyRent

EasyRent is our tailored and industry-leading DSCR Loan solution for cash flowing investment properties whether you are buying to add to your portfolio or cashing out your capital in a refinance, we have a loan for you. We are also a leader in short term rentals – properties used for AirBNBs, VRBO or vacation homes – we have flexible and ultra-competitive terms to get deals done. Our DSCR Lending Program has solutions for anyone – from first-time investors dipping to industry veterans looking to rapidly expand their portfolios – we are confident we can find you a great loan in a quick, efficient and easy process.

Program Terms

  1. Loan Amounts: $75K - $3.5M (Blanket Portfolio Loans up to $5M)
  2. Rates: Starting at 5.99%
  3. Geography: Nationwide (except Nevada, North Dakota, South Dakota)
  4. Property Types: Residential, Short-Term Rental, Vacation Rental up to 10 units
  5. Occupancy: Long-Term, Medium-Term, or Short-Term Rentals, Vacancy OK (on Acquisitions), no operating history required on STRs
  6. Loan Structure: 30-Year Fixed Rate Mortgage Loans, Flexible Prepayment Penalties, Partial IO (10-Years) Available, Entities (i.e. LLCs) and partners welcomed
  7. LTVs: Up to 80% (Acquisitions/Rate-Term Refinances), 75% (Cash-Out Refinances)
  8. DTI: Not Applicable (We don’t require tax returns or evaluate your personal income or finances when evaluating your application)
  9. DSCR: 0.75x minimum
  10. Credit Score: 660 minimum
  11. Fees & Deposits: 0-3% Closing Fee, $1,000 Underwriting Fee, $1,500 Pass-Through Deposit (covering third-party loan costs)

Rental Loans Resources

Investment Property Interest Rates – February 2024 Update

What are investment property interest rates in February 2024?  That answer depends on several factors as interest rates can vary depending on your situation.  The overall economy, your personal credit and experience and type of loan and property all matter.  One major distinction is whether your property is a rental property or a property in ...
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DSCR Loans Guide 2024: Everything you need to know about DSCR Loans!

Easy Street Capital is America’s leading DSCR Lender. With over 600 DSCR loans funded in the last year, we have helped real estate investors across the country achieve financial freedom through this popular loan product. DSCR Loans allow real estate investors to qualify with no W2, no tax returns and no income verification required! See ...
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Next Frontiers in DSCR Loans – 2024 and Beyond

This article was originally published September 27, 2023 on BiggerPockets.   Throughout the past year, this series of articles has comprehensively covered the DSCR Loan product. We have covered an how to get the best rate and terms, how to use advanced strategies to maximize return and a long list of FAQs.  Also published was ...
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DSCR Loans Glossary – Terms to Know when working with Rental Property Loans

This article was originally published September 4, 2023 on BiggerPockets.   Navigating the world of financing rental properties can be overwhelming for even experienced real estate investors. There are tons of terms, phrases, and acronyms that can cause confusion, and real estate finance is also notorious for misnomers and multiple terms that all mean the ...
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Airbnb Loans: What Are the Options and How Do DSCR Loans Stack Up?

A version of this article was published August 29, 2023 on BiggerPockets   Short-term rentals continue to be one of the hottest areas of real estate investing in 2023. Despite some market volatility, slow down, and saturation in some areas, smart, professional short-term rental investors continue to thrive, expand, and scale.   What separates the ...
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Real Estate Agent Guide for Listing and Selling Rental Properties

Many top real estate agents are experts at listing homes – knowing all the best tips and tricks to secure great offers for their clients. Most agents focus on attracting buyers looking to live in the home. But what happens when you get a listing for a top-of-the-line rental property? Think multi-unit (duplex, triplex, etc.) ...
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Why Easy Street Capital

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Speed and Efficiency

EasyRent is the ideal solution for investors that want to move fast and get deals done quickly (30-day closing windows) and without the delays and red tape typical with banks and other lenders. Drawing on our years of experience with Fix and Flips, we are used to delivering for investors on timelines measured in days and hours – not weeks and months. Our process is quick and hassle-free, and allows you to get your deals done and pre-approved within hours of application.

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Light Documentation

Our process allows investors to avoid the mountains of endless paperwork and intrusive document-gathering common with our competitors. We do not require tax returns or income verification, ask for years of bank statements, or many of the other typical requests from other lenders. We have a quick and straightforward needs list that can be knocked out fast – allowing investors to focus on their properties and expanding their portfolio rather than the hassle of tracking down and providing infinite documents and files.

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Walk The Walk

We are a lending shop that understands your needs and challenges better than anyone else. Why? We are investors and operators ourselves and appreciate and recognize your definition of success. Our founding partners have acquired, renovated and sold thousands of properties and continue to invest and operate real estate today, including short term rental units operated at our headquarters in Austin. We don’t just lend, we are a partner with expert-level knowledge and experience that can advise and assist on your investing journey every step of the way.

Rental Loans FAQs

What type of Rental Loans does Easy Street offer?

The EasyRent rental loans are classified as DSCR Loans, which are mortgage loans secured by residential real estate turnkey properties strictly used for a business purpose and underwritten primarily based on the property.

 

What states does Easy Street Capital offer rental loans in?

We offer rental loans in every state except North Dakota, South Dakota and Nevada.

 

What is DSCR?

The DSCR Ratio, not to be confused with “DSCR Loans,” is the “Debt Service Coverage Ratio.” It measures the annual cash flow of a rental property in a ratio of rental income divided by expenses.

 

How is DSCR (“Debt Service Coverage Ratio”) calculated?

We calculate DSCR by taking monthly Projected Income (Rent or STR income) divided by your monthly payment – PITIA (principal, interest, tax escrow, insurance escrow and any HOA dues). No expenses besides taxes, insurance or HOA dues are considered in underwriting or qualification.

 

What is the minimum DSCR for a Rental Loan from Easy Street Capital?

Our rental loans require a minimum DSCR of 0.75x.

 

What are current rental property loans rates?

Loans on Rental Properties generally range from 6.75% to 9.75% as of 2023.

 

Are Easy Street Capital’s Rental Loans based on Rental Income?

Yes, these are DSCR Loans that are primarily based on the rental income and DSCR of the property, however, borrower credit score and liquid asset reserves also count.

 

What determines my interest rate on a rental loan from Easy Street Capital?

Easy Street Capital offers rental loans with interest rates as low as 6.75%, and the rate offered will depend primarily on three factors; your credit score, the DSCR ratio and the LTV ratio. Additional factors include also determine the rate include loan structure, prepayment penalty terms and loan purpose, more advanced analysis of how to get the lowest rate are included in this article. In addition, borrowers can pay more “points” or higher closing fees to lower or “buy down” the interest rate on a rental property loan.

 

What is the minimum credit score for a Rental Loan from Easy Street Capital?

Our rental loans require a minimum qualifying credit score of 620.

 

Does Easy Street offer Rental Loans for Bad Credit Borrowers?

While rental loans are limited to borrowers with a minimum credit score of 620, we have flexibility to offer loans to people borrowing with partners within an LLC and providing rental loans for people even with recent mortgage late payments, foreclosures and even bankruptcies.

 

Does Easy Street offer Rental Loans for rural properties?

Yes, Easy Street’s will finance rural properties through the EasyRent rental loan program. LTVs for loans secured by rural properties have a maximum of 65%.

 

What is the minimum down payment for a Rental Loan from Easy Street Capital?

Our rental loans require a minimum down payment of 20% for rental loans for purchases of rental properties.

 

What is the minimum loan amount for a Rental Loan from Easy Street Capital?

Our rental loans require a minimum loan amount of $75,000. Portfolio, or “Blanket” rental loans have a minimum loan amount of $225,000 and must have three or more properties in the portfolio.

 

What is the maximum loan amount for a Rental Loan from Easy Street Capital?

Our rental loans have a maximum loan amount of $3,000,000. Portfolio, or “Blanket” rental loans have a maximum loan amount of $5,000,000.

 

What is the maximum LTV (Loan-To-Value) Ratio for a Rental Loan from Easy Street Capital?

Our rental loans have a maximum LTV of 80.0% if the loan purpose is an acquisition or a rate-term refinance and a maximum LTV of 75.0% if the loan purpose is a cash-out refinance.

 

Can I get a rental loan from Easy Street Capital for a multi-unit property?

Yes, we lend on properties up to 10 units for the EasyRent loan program.

 

Can I live in one of the units of a property financed with a Rental Loan from Easy Street Capital?

No, Easy Street’s rental property loans are strictly for business-purpose, and occupying the property is strictly prohibited.

 

What is a Cash-Out Refinance Rental Property Loan?

A cash-out refinance in real estate finance is a refinance mortgage loan (either on a rental property owned free and clear with no debt or in conjunction with paying off the old mortgage) in which the borrower receives greater than $2,000 in proceeds. Proceeds are generally determined by subtracting the payoff loan amount, closing costs and any escrows from the new loan amount.

 

What is a Rate-Term Refinance Rental Property Loan?

A rate-term refinance in real estate finance is a refinance rental loan in which the borrower receives less than $2,000 in proceeds at closing or has to bring additional funds to cover payoffs, closing costs and escrows.

 

What is the minimum DTI requirements for a Rental Property Loan from Easy Street Capital?

Easy Street does not utilize DTI for qualification for rental loans! There is no income verification or tax return requirement for qualification for a rental loan with Easy Street Capital.

 

I’m looking to buy my first rental property, can I get a Rental Loan from Easy Street Capital?

Yes, EasyRent loans are first-time investor friendly, and we do not have any restrictions or limits on loan offerings to first time investors. We are dedicated to helping real estate investors start the journey to financial freedom and love to help people get started!

 

Are EasyRent Investment Property Loans fixed rate for thirty years?

Yes, generally most of our rental loans have thirty year terms and have an interest rate fixed for the entire term. However, we do offer some borrowers Hybrid ARM (adjustable rate mortgage) options, in which the interest rate is fixed for the first five years of the term, and then floats based on several loan provisions for the final 25 years of the term.

 

Does Easy Street Capital offer interest-only rental loans?

We offer a “Partial” interest-only option where only interest payments (no principal paydown) is required for the first 10 years of the term, and then the loan amortizes on a 20-year schedule for the final 20 years of the term.

 

How is the DSCR calculated on an interest-only rental loan?

The DSCR is calculated on the interest-only payment that will be in effect for the first 10 years of the loan term.

 

Do Rental Property Loans from Easy Street Capital require prepayment penalties?

Not necessarily, most rental loans from Easy Street Capital have fees associated with paying off the rental property loan early, typically in a “5/4/3/2/1” structure. This means that if prepaid in the first year, there will be a prepayment penalty of 5% of the remaining loan balance, with a 4% fee if prepaid in the second year, 3% if prepaid in the third year, etc. There would be no fees associated with prepaying the rental loan with this structure for the last 25 years of the loan. However, EasyRent is a flexible loan program that can be tailored to our borrower’s strategy and needs. Our rental loans can have reduced prepayment penalties, such as a “3/2/1” or “2/1” structure, no prepayment penalties at all or even higher prepayment penalty structure, such as a 5% fee if prepaid during the first five years of the term. Generally, the higher and longer the prepayment penalty is in effect, the lower interest rate you will have.

 

What is a blanket mortgage in real estate investing?

A “blanket” rental loan is the term used for having one loan secured by multiple properties. Also sometimes called a “portfolio” loan, it is usually preferred by investors seeking to simplify their portfolio management, preferring having one loan to make payments for and track rather than many individual loans.

 

Does Easy Street Capital offer blanket rental loans?

Yes, EasyRent offers blanket portfolio loans for real estate investors. Qualification and the documentation process is similar to a rental property loan for a single property, however all the properties secured under the blanket loan must be in the same state.

 

What is the minimum property value required for a Rental Loan from Easy Street Capital?

Properties for Rental Loans need to have a third-party appraised value of at least $100,000 to be eligible under the EasyRent rental loan program. However, for portfolio, or “blanket” rental loans, the minimum property value can be as low as $75,000.

 

I’m planning on purchasing a property that is vacant and to lease it after I buy. Is this OK under the EasyRent program?

Yes – vacant properties are fully eligible for rental loans from Easy Street Capital. We will use the market rent (as determined by the appraisal) to project cash flows for the property. Additionally, if planned to utilize the property as a short term or vacation rental, we can utilize projects from industry data providers to qualify the loan.

 

What documents do I have to provide for an investment property loan with Easy Street Capital?

Rental Loans from Easy Street Capital require limited documentation (although shouldn’t be considered “no doc” loans!). Documentation requirements include an application, authorization to pull credit, two months of bank statements for liquid asset reserves, property and flood insurance (if applicable), leases or short term rental operating history (if applicable), entity documents (if borrowing through a business entity), and documented renovation information (if doing a BRRRR Method refinance).

 

I have partners in an LLC with split ownership of the property, is that OK for a rental property loan?

Yes – in fact we recommend borrowing through an LLC (however borrowing as an individual is OK in most states). We require a full guaranty for anyone who has more than 25% of ownership of the entity and allow up to four separate guarantors on each loan.

 

I have a bankruptcy or foreclosure in my history, will that prevent me from getting a rental property loan from Easy Street Capital?

No – we are a flexible lender that can work with borrowers with blemished credit history. Our median FICO minimum is 620, which allows the vast majority of potential borrowers to qualify with us. We have a limit of one bankruptcy, foreclosure or short sale within the past seven years and require that all delinquencies on the credit report be cured prior to closing our loans. You may have to pay a moderately higher rate, but we should be able to find a loan for every investor, even with credit flaws.

 

My property is a condo, is that eligible for a rental loan with Easy Street Capital?

Yes, we lend on condos with loans consistent with our standard structure and rates. There are some limits on LTV and DSCR based on the characteristics of the condo structure, but are welcomed by Easy Street Capital.

 

Does Easy Street Capital offer vacation rental loans?

Yes, while our rental loans can finance all sorts of investment property strategies, including long-term rentals, medium-term rentals and vacation rentals. Vacation Rentals are not only eligible, but Easy Street Capital is a leader in financing vacation or short term rental loans with qualifying rental income from sources such as AirDNA and full eligibility in seasonal vacation markets. Check out our free STR Revenue Estimator Tool here!

 

How much reserves do you need for a Rental Property Loan?

“Reserves” in the context of rental Loans refer to liquid assets held by the borrower at closing of the loan. This can be cash held in a bank account, or even stocks, bonds and assets held in retirement accounts (although these assets will have their value “haircut” or reduced by 10-20% for counting reserves. For the EasyRent loan program, we generally require 3-9 months of PITIA payments for liquid asset reserves to be documented.

 

I am not a US Citizen, can I qualify for a investment property loan with Easy Street Capital?

We offer loans to non-US citizens if the borrower is a documented permanent or non-permanent resident alien. We will also lend to foreign nationals residing outside of the United States if the borrowing entity is an LLC and 50% or more of the ownership is held by a US Citizen or green card holder.

 

Can I get a rental loan for a property that needs renovations?

Rental Property Loans under the EasyRent loan program are intended for “turnkey” properties only, meaning little to no renovations are needed. To finance an investment property that needs renovations, such as for a fix and flip or BRRRR Method project, refer to our EasyFix hard money loan program!

 

Can I get a rental loan with subordinate or second-lien financing to fund the down payment?

No, EasyRent rental loans prohibit any subordinate or second-lien financing.

 

Fast and Accurate

The Easy Street Capital team is phenomenal! Fast and accurate. I was always in the loop when it came to my loan. A-1 finance partners in my book. Thank you again.

Wesley J. | Nov 03, 2022

First Class Excellence in Customer Service

Zach Edelman and the team at Easy Street offered first class excellence in customer service, and truly lived up to their name for keeping the process easy and simple. In real estate investment we dread the tasks related to the lending partners and Zach and the team made it a seamless part of the process. A great partner to have!

Gavin B. | Nov 03, 2022

Smooth and Straightforward

Loved working with everyone, everything felt very smooth and straightforward.

Rubi S. | Oct 31, 2022

Simply Amazing

Simply amazing! Truly saved the day for us when another lender flaked at closing!

Tracy M. | Oct 31, 2022

Deal Saved and Funded in Two Days

The best hard money lender you can find. Almost lost out on a deal and Easy Street was able to fund in 2 days! I just completed my project and can’t wait to use them on the next one!

Justin C. | Oct 05, 2022

Excited to Work with Them Again!

Would highly recommend East Street Capital anytime. In TWO DAYS, they closed a deal of mine that was in limbo for over a month with a different lender. Incredible team and excited to work with them again!

Asa K. | Oct 05, 2022

Easy Street Values Relationships

Gray Cato and Tracey Autry are amazing people - they value the relationships and it shows. They have helped close some very messy deals and have put the needs of my clients above everything else!

Ronny V. | Sep 26, 2022

Go-To Lender

I wouldn’t go anywhere else to fund my deals.

Juan G. | Sep 21, 2022

Super Fast Responses

Thank you for making the process as easy as possible. Having everything automated is great, and the team is super fast at responses! Looking forward to many more loans in the future, and have recommended Easy Street to all REIs I know.

Tammy J. | Sep 19, 2022

Quick and Fast Service

Quick and fast service. Great customer service too!

Minh P. | Sep 09, 2022

Great People, Great Service

Great people, great service! Easy Street Capital is the best.

Nauj E. | Sep 08, 2022

Great Team

Great work from a great team that really gets it.

Alex K. | Aug 31, 2022

Fast Close For a New Borrower

You guys are amazing!! The fast close is very much appreciated!

Karmen S. | Aug 19, 2022

These guys are the real deal!

I would give 6 stars if possible. They are not lenders, they are magicians. Joshua and his team tackled my deal to salvage a deal that was almost dead. These guys are the real deal!

Juan A. | Aug 17, 2022

One of the Best Lenders in the Business

You wanna talk about one of the best lenders in the business!! Easy Street Capital is definitely in that category. My agent was Zach Edelman, and he went above and beyond on helping me with my Investment Refi. Extremely competitive rates, even as the FED raised rates during our closing. Great lender all around.

Jermaine A. | Aug 09, 2022

Smooth and Pleasant Process

Very responsive and helpful staff. Quick turnaround time, and an overall smooth and pleasant process.

Herbert B. | Jun 16, 2022

Good Experience, Fast Closing

I have had a good experience with Easy Street Capital. I was able to close my deal quickly with very timely underwriting. The company should be able to close very quickly if you need a quick close. The rehab draws I requested were reviewed and issued very quicky also (basically next day on one). The communication and all processes of the loan have been simple throughout my time working with them.

Ross C. | Jun 08, 2022

Top Notch Service

Easy Street has funded our company on numerous occasions without any issues. Their rates are competitive but their level of service is top notch! They are our preferred hard money lender. I highly recommend working with Casey and the team at Easy Street.

Jace G. | Jun 08, 2022

Fantastic Company

Fantastic company, top-notch leadership and great customer service. Highly recommend Easy Street Capital.

Andrew N. | Jun 08, 2022

Less Red Tape

Easy Street is great for investors needing to close fast at competitive hard money rates. They have much less red tape to approve and the numbers make sense. This really made it possible for us to move fast and get the deal done.

Mirelle L. | Apr 19, 2022

Best in the Business

In a market that is full of hard money lenders, we made the best choice in using Easy Street. Closed my deal on time and they didn’t ask me to bring my “first born”. It was easy and it allowed me to start my business and keep more of my profit!!! Easy Street is the best in the business! Straight forward & easy!!

Mike N. | Apr 19, 2022

Definitely Recommend

Easy Street was flexible enough to work around some extension issues due to some unseen hurdles in my house flip. Eternally grateful to Easy Street for making things as smooth as possible. Would definitely recommend them to anyone getting started in house flipping.

Angel C. | Apr 19, 2022

Easy to Work With

Easy Street has been very easy to work with. We appreciate the communication and quick responses. They really do understand that time is of the essence in real estate. The entire process was a breeze and we look forward to continue working with them!

Christopher D. | Apr 19, 2022

Saved the Day

Well done! When my initial lender asked for an extension 3 days before closing the Easy Street team stepped in and saved the day! I appreciate their ability to close quickly and get the deal done.

Brandon R. | Apr 19, 2022

Perfect for Flippers

Easy, efficient, and perfect for flippers! We love doing business with the company and are completing our third flip in 9 months! Thank you! Thank you! Looking forward to doing business on the next one.

Catherine C. | Apr 19, 2022

Very Timely

I have had a good experience with Easy Street Capital. I was able to close my deal quickly with very timely underwriting. The company should be able to close very quickly if you need a quick close. The rehab draws I requested were reviewed and issued quickly as well (basically next day or two). The communication and all processes of the loan have been simple throughout my time working with them.

Ross C. | Apr 19, 2022

Highly Recommend

I was able to obtain a loan from Easy Street to invest in purchasing a house in TX for fixing up & flipping. Easy Street is one of the best lenders I have dealt with and they are genuinely interested in assisting the investor to be successful with whatever your project is. I would highly recommend them to anyone who needs funds for investment in real estate.

Judson G. | Apr 19, 2022

Trustworthy and Honest

This was my first hard money loan, and Easy Street was the only place with a loan that met my needs. Easy Street worked quickly to put the deal together. Everything was as it was said it would be; I paid the agreed upon fees and interest and there were no surprises save a document fee at payoff. In a world where people are trying to scam you right and left, I was pleased and relieved that Easy Street was trustworthy and honest.

Michael H. | Apr 19, 2022

EasyRent Recent Fundings

Easy Street Capital has a proven track record of successfully funding single rental properties and portfolios for our borrowers.

PUD

Moab, UT

Loan Amount / $532,000
Rate / 8.625%

Purpose / Cash-Out Refinance
LTV / 70.0%

$532,000 Utah DSCR Rental Loan for a Cash-Out Refinance of a rental property in Moab. Features of this property include but are not limited to a spacious uncovered patio, a two-car garage, a shared pool, and two fireplaces. The area is a tourist destination popular partially due to its proximity to two national parks and the Colorado River.

Duplex

Norfolk, VA

Loan Amount / $172,550
Rate / 9.875%

Purpose / Cash-Out Refinance
LTV / 70.0%

$172,550 Virginia DSCR Rental Loan for a Cash-Out Refinance of a rental property in Norfolk. The duplex has two units each featuring two bedrooms and one bathroom. Located approximately 3.5 miles from downtown Norfolk, this property has easy access to major employment, public transportation, entertainment, and restaurants.

Single-Family Residence

Fairport Harbor, OH

Loan Amount / $192,000
Rate / 8.500%

Purpose / Rate-Term Refinance
LTV / 80.0%

$192,000 Ohio DSCR Rental Loan for a Rate-Term Refinance of a rental property in Fairport Harbor. Located in a beautiful harbor town located on Lake Erie, this property features an entirely remodeled kitchen, all new HVAC systems, and much more.

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