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Rental Loans for Forward-Thinking Real Estate Investors
DSCR Loans are mortgage loans secured by residential real estate turnkey properties strictly used for a business purpose and underwritten primarily based on the property
Harpoon Capital is committed to helping investors nationwide achieve financial freedom through real estate investing — from real estate investing whales with 50+ properties to relative minnow just starting out. For any and all DSCR-related questions, check out our DSCR Loans Guide.
The terms listed below are what investors can expect when securing financing from Harpoon Capital. Specific DSCR Loan terms may vary deal-to-deal based on property characterisitics, investor strategy, and market conditions among other factors.
For hard-to-qualify situations, we can likely get it done -- whether that’s an innovative strategy needing flexibility, like short term rentals (counting 100% of projections) or BRRRR (no-seasoning cash-outs), a desire to push common industry limits (like less than 20% down on purchases or 80% cash-out refis), or other common dead-ends (such as rural markets, small square footage or limited reserves), check out our DSCR Loan Program Specialties below for solutions to your scenario!
Max-leverage acquisitions with just 15% down payment -- true DSCR qualification no hybrid income qualification needed. Boost qualification for 85% STRs with income supplementation to get the numbers right.
Industry-leading 80% leverage on cash-out refinances (99% of DSCR Lenders cap at 75% for cash-out). Maximize your BRRRR method strategy with non-taxable cash in hand. No max "cash-in-hand" limits on these refinances either!
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True "no seasoning" cash-out refinances, don't even have to wait three months from buy to refi, save on carrying costs and recycle capital at lightning speed with a refinance based on appraised value with no ticking clock.
While most DSCR lenders will "haircut" or not count a portion of STR projected income when qualifying a short term rental loan -- we have options to qualify the DSCR ratio at 100% of STR projections -- from AirDNA, the Appraisal or from a multitude of sources.
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Deal isn't dead when the appraiser marks it rural -- high-leverage options for any market, including up to 80.0% LTVs on rural purchases and rate-term refis and 75.0% LTV cash-outs. Properties sitting on up to 20 acres of land? Can handle that as well.
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We don't require a DSCR over 1.00x for our DSCR Loans. What's more, with a DSCR below one, we don't massively cut leverage either, get up to 80% LTV for loans with ratios between 0.75x and 0.99x, and even up to 75% LTV for true "no ratio" under 0.75x
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While most DSCR Lenders set the bar at 640, 660 or even as high as 700, we know that some investors with a credit blemish still deserve an opportunity, which is why we have a credit minimum of just 600. Also, for borrowers with a recent foreclosure, short sale, DIL or even bankruptcy, we have options available for eligibility within just a year of a serious credit event.
For loans up to even $1.5 million, we have options where the reserves requirement (liquid assets reserves documentation, typically 2-6 or even up to 12-months PITIA) is completely waived, yes, that means zero liquid assets. Cut down on paperwork or the need to move money around to qualify. Additional flexibility on crypto, retirement accounts and business accounts too!
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Most DSCR Lenders stop short at 4 units max, we have options up to 9 units for true multifamily properties. Additionally, we'll go down to loan amounts of just $100,000 on these properties, way lower than the usual Multifamily DSCR Loan industry max of $400k or more. 30-Year Fixed Rate Loans, 10-Year IO Options and DSCR minimums of just 1.00x (calculated without Opex)!
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Harpoon Capital is on the cutting-edge of new innovations in DSCR lending, with two separate unique "hybrid" options to max LTV and qualification - including boosting qualification with income or boosting the DSCR ratio with liquid assets! These are available for innovative strategies like STRs too!
We believe in getting people started on their voyage to financial freedom - no matter the experience level, with programs not only for first-time investors but for investors who have never owned real estate before at all -- including renters! Full eligibility for first-time investors too in most programs!
While every DSCR Loan must have a guaranty, we have options for no recourse for even majority owners of an LLC, including options for just one guarantor with just 20% ownership of the borrower to sign. Flexible qualification as well - taking the higher of credit score among multiple guarantors to qualify.