Best DSCR Lenders for Short-Term Rentals in 2026. What STR Investors Need to Know.

The single most consequential variable in whether your DSCR loan gets approved is not your credit score or down payment. It is how your lender counts short-term rental income.

Two lenders can look at the identical Airbnb property, run the same math, and reach completely different DSCR ratios, because they are starting from different gross income numbers. One uses AirDNA projections. One requires actual booking history. One falls back to what an appraiser thinks the place would rent for long-term. Get matched to the wrong lender for your situation, and a deal that pencils out perfectly becomes a denial.

This is the comparison article about that problem.

Why STR Income Calculation Is the Number That Actually Matters

Picture this: you find a mountain cabin that rents for $250 a night on Airbnb. It runs at 65% occupancy. Gross annual revenue is roughly $59,000. Monthly gross is about $4,900. Your projected PITI (principal, interest, taxes, insurance) is $3,800. That looks like a 1.29x DSCR ratio, comfortably above any lender’s floor.

Except your lender applies a 25% haircut to the AirDNA projection, reducing qualifying income to $3,675 per month. Now your DSCR is 0.97x, and you just failed the floor at a lender requiring 1.0x. The deal, the property, the math all unchanged. Just the income calculation method.

This is not a hypothetical. It is the reason STR investors end up shopping lenders well past the first quote, and why a broker who does not specialize in short-term rental financing will often run your numbers on a model designed for long-term rentals.

There are three income methodologies you will encounter:

• AirDNA or CoStar market rent projections: Standard for properties without a rental history. AirDNA’s Rentalizer tool produces a projected annual revenue figure based on comparable listings. Lenders typically apply a 20 to 25% vacancy and expense haircut. Most lenders who accept STR income use this method for new purchases.
• Trailing 12-month booking history: For properties with an established STR record, lenders pull actual Airbnb or VRBO host statements. The haircut drops slightly (15 to 20%) because the data is real, not projected. This is the most borrower-favorable method when your history is strong.
• Long-term rental equivalent (Form 1007): An appraiser determines what the property would rent for as a standard annual lease. This is the most conservative method and often produces the lowest income figure, because long-term rents in resort markets typically run well below STR potential. Some lenders require this as a floor even when STR data is available.

Knowing which method a lender uses before you apply is not a nice-to-have. It determines your qualifying number.

The Lenders: What Each Program Actually Does

Here is the comparison table, followed by program-level detail for each. Data compiled from lender websites, program disclosures, and third-party sources as of October 2026. Program terms change; always confirm current guidelines directly.

This article is the lender comparison. If you are still learning how DSCR loans work or what the underwriting process looks like, this guide covers the full DSCR application process for Airbnb properties.

Visio Lending

Visio is the most STR-native lender on this list. They have originated over $1.2 billion in vacation rental loans and built their Rental360 program specifically around the income volatility patterns of short-term rentals.

Income calculation: Visio accepts AirDNA projections for new purchases. For properties with booking history, actual host statements can be used. The standard income haircut is in the 20% range, consistent with industry norms.

Program details:

• Minimum DSCR: 1.0x (no exceptions below this floor)
• Minimum credit: 680 FICO
• Max LTV: 80% purchase and rate-term refi; 70% cash-out (Source)
• Minimum loan: $75,000 (minimum property value $150,000)
• Available in 41 states plus DC

Prepayment structure: The Rental360 program lets borrowers choose their rate/points/prepay combination. Standard is a 5/4/3/2/1 step-down. Options include a 3/2/1 step-down and a no-prepayment-penalty version at a higher rate.

Rural and mountain markets: Yes. Geographic exclusions exist for certain distressed urban zip codes, not for vacation market types.

Kiavi (Now Operating Under Figure Lending)

A quick and important note (I reviewed this so you do not have to): Kiavi was acquired by Figure Lending effective September 1, 2026. The Kiavi brand and website remain active, but program terms are in transition as Figure integrates the platform. Confirm current guidelines directly before submitting an application here, because what was true in August may have changed.

Pre-acquisition, Kiavi operated a digital-first DSCR platform known for fast closings and one of the lower credit floors in the non-QM space.

Income calculation: Kiavi’s public-facing materials focus on long-term rental income and do not explicitly describe an AirDNA or STR-specific income methodology.

Program details (pre-acquisition, confirm current):

• Minimum DSCR: 0.80x (the lowest floor on this list, though LTV is reduced when DSCR falls below 1.0x)
• Minimum credit: 660 FICO
• Max LTV: 80% at 1.0x or higher DSCR; reduced at sub-1.0x coverage
• Minimum loan: $100,000
• Available in 49 states plus DC (excludes Utah)

Prepayment: No prepayment penalty after year three.

CoreVest Finance

CoreVest occupies a different corner of the market than the other lenders on this list. They are primarily a portfolio and institutional lender, and their dedicated STR product reflects that: $500,000 minimum loan, focused on operators holding five or more properties, designed for scale rather than single-property acquisition.

Their standard DSCR product does start at $75,000 and functions like a conventional single-asset investor loan.

Income calculation: CoreVest does not publicly disclose their STR income methodology.

Program details:

• Standard DSCR loan: $75,000 minimum, 80% max LTV, 640 FICO minimum (Source)
• Dedicated STR loan: $500,000 minimum, 70% max LTV
• Available in 47 states (Source)

Prepayment: 3/2/1 step-down on 30-year single-property DSCR loans. Portfolio and term loans use yield maintenance (meaning the lender recovers the yield they expected to earn, which can be more expensive than a flat step-down penalty).

Ridge Street Capital

Ridge Street Capital is an STR-specialist lender that has been explicit in a way most competitors are not: their website states directly that they use AirDNA projected short-term market rents to qualify income.

Program details:

• Minimum credit: 700 FICO for STR loans (660 for long-term rental DSCR)
• Max LTV: 80% purchase; 75% cash-out refi
• Maximum loan: $2,000,000
• No DTI requirement
• No cap on the number of financed properties
• Available in 36 states
• Rates from 6.25% for STR loans as of mid-2026 (confirm current rate sheet)

Rural and mountain markets: Explicitly approved. Ridge Street covers rural and vacation destination properties.

Lima One Capital

Lima One runs a DSCR program with a 1.0x floor and a 700 FICO minimum. Best rates kick in at 1.2x coverage. Their LTV cap at 75% is more conservative than Visio and Kiavi’s 80%.

Program details (as of mid-2026):

• Minimum DSCR: 1.0x floor; best pricing at 1.2x
• Minimum credit: 700 FICO
• Max LTV: 75%

The STR Rate Premium and What It Means for Deal Math

Short-term rental DSCR loans carry a rate premium over long-term rental DSCR loans. The range is typically 0.25 to 0.75 percentage points, depending on the lender, the market, and current rate conditions. In October 2026, you are looking at roughly 6.5% to 8.5% for a well-qualified STR DSCR loan (680+ FICO, 80% LTV, 1.0x or better DSCR). A comparable long-term rental DSCR loan on the same property might price 0.5% lower.

Prepayment Penalties: The Language That Matters

Most DSCR loans carry prepayment penalties. The two main structures:

• Step-down penalty: A flat percentage of the loan balance, declining each year. A 3/2/1 structure means 3% in year one, 2% in year two, 1% in year three, then free. A 5/4/3/2/1 structure extends that to five years.
• Yield maintenance: Used primarily by institutional lenders. The lender calculates the present value of remaining interest payments and charges you the difference. This can be substantially more expensive than a step-down penalty in a declining rate environment.

Rural, Cabin, and Mountain Markets: Which Lenders Go There

A meaningful percentage of STR investment activity is in non-urban markets: mountain cabins, lake houses, ranch retreats, ski towns. Many lenders who do DSCR for urban rentals will decline a rural property on property-type grounds.

The lenders on this list with documented rural and vacation market approvals: Visio Lending and Ridge Street Capital. If your deal is a cabin in a mountain market, narrow your lender search to the STR specialists first.

For the underlying deal math on mountain and cabin markets, here is what STR investing numbers actually look like in 2026.

How to Use This Comparison

The most useful questions to ask before applying:

1. Does this lender accept AirDNA income for a property without rental history?
2. What is the DSCR floor, and does my deal clear it at their income haircut?
3. What is the LTV cap for an STR property in my market?
4. Do they lend in my market type and state?
5. What is the prepayment structure, and does it match my hold period?

If you are buying your first STR and do not have a rental history to provide, Visio and Ridge Street Capital are the logical starting points: both accept AirDNA projections explicitly, both lend in rural and mountain markets, and both have published STR-specific program data.

Before you apply anywhere, run your numbers. The StaySTRA Analyzer will show you market-level revenue data, which you can translate into a DSCR ratio against your projected financing terms.

If you are still evaluating whether to finance an STR at all, this guide walks through the full Airbnb property purchase process for 2026.

This article provides general information and should not be construed as legal or financial advice. Consult a qualified mortgage professional and attorney in your jurisdiction for advice specific to your situation and loan application.

We do our best to keep our financing guides accurate and up to date, but lender program requirements change and we are only human. Always verify current guidelines directly with your lender before making financing decisions.