New York DSCR Loans 2026: 9,885 Loans, 117 Lenders, County Rates

Where New York's DSCR loans are: the boroughs and everyone else

New York's 9,885 loans are 6.4% of the 154,354 DSCR-type loans from 466 lenders on our national DSCR lender ranking (our arithmetic). Queens County (1,271 loans) and Kings County, the borough of Brooklyn (1,242), are the two largest places, ahead of Suffolk (991) and Nassau (651) on Long Island, the Bronx (550), Orange (539) and Erie (520). Another 445 loans carry no county in the file.

DSCR-type loans by region, 2025 (our grouping of HMDA county codes)

The groupings are ours and are listed in the data file: the five boroughs are Bronx, Kings, New York (Manhattan), Queens and Richmond (Staten Island) counties; the Hudson Valley group is Westchester, Rockland, Orange, Putnam, Dutchess, Ulster, Sullivan, Greene, Columbia and Delaware counties. The rate follows the loan size more than the map: loans under $150,000 had a 7.625% median, loans from $150,000 to $299,999 7.375%, and loans of $300,000 or more 7.125% (our arithmetic). New York City's median loan is more than four times the median in the rest of the state, and its rate is 0.475 points lower.

The 15 largest counties by DSCR-type loans, 2025

Two patterns. First, DSCR lending is the main investor product in the Bronx (67.2%), Sullivan County (66.0%), Queens and Rockland, and a smaller share in Manhattan (31.3%) and Monroe County (29.9%), where investors use other loan types more. Second, upstate counties pay more: Erie 7.5%, Monroe 7.5% and Onondaga 7.55%, against 6.99% in Queens and Staten Island. Small-county medians rest on a few hundred loans; read them as direction. Whether the gap reflects the place, the loan size or the lender mix, HMDA cannot say. The Bronx is the exception inside the city: its 7.312% median is 0.322 points above Queens (our arithmetic).

Buildings: nearly half are two to four units

New York investors finance multi-unit buildings under the 1-4 unit label. 4,643 of the 9,885 loans (47.0%) were on two- to four-unit buildings, 2,347 of them in the five boroughs and 2,296 elsewhere (our arithmetic).

DSCR-type loans by number of units, 2025

Loan size climbs with the unit count up to three units, but the rate does not fall: two- and four-unit loans are priced 0.125 points above one-unit loans. For the minimum ratios lenders apply to small multifamily, see DSCR loan requirements.

The ranking: who makes DSCR-type loans in New York

The state list is dominated by broker-fed non-bank lenders. Nine of the top 12 took 95% or more of their loans through brokers, which is how a New York mortgage broker will reach them; across the state 6,049 loans (61.2%) were not submitted directly to the lender (our arithmetic).

Top 12 New York DSCR-type lenders, 2025

What the ranking shows:

• Concentration is high. The top 5 made 3,349 loans (33.9%), the top 10 5,062 (51.2%) and the top 20 7,077 (71.6%). 31 lenders made 100 or more, 68 made 10 or more and 15 made exactly one (our arithmetic).
• Two direct lenders in the top 10. Hometown Equity Mortgage and CrossCountry Mortgage reported none of their DSCR-type loans as brokered, so a borrower deals with them directly.
• The rate spread is 0.75 points among the top 12 (excluding Velocity). Arc Home's median is 6.875% and BPL Mortgage's is 7.625%: $226.35 a month on a $445,000 loan (our arithmetic). Velocity's 9.865% is the same figure it reports in other states and reflects a different product; do not compare it with the rest.
• Loan size separates lenders. United Wholesale and BPL Mortgage have $305,000 medians; Emporium TPO's is $655,000 and Arc Home's $585,000. Lenders sort borrowers by loan size, so the lender with the lowest rate may not lend at your size.
• Emporium TPO's terms. It reports its 30- and 40-year terms in years instead of months. We counted its 492 loans reported as 30 years as 360 months, as our national page does. Read literally, New York would show 9,392 loans and $4,861,200,000 instead of 9,885 and $5,191,645,000.

Kiavi, Visio, LendingOne, Lima One, Velocity and RCN in New York

New York has less platform lending than the broker-driven top of the list suggests: the five platform names made 704 DSCR-type loans, 7.1% of the total (our arithmetic). Kiavi Funding reported 133 DSCR-type loans at a 7.375% median, but 442 conventional first-lien investor loans in total; 309 of those are short-term loans, the product covered on our New York hard money page. Investor Mortgage Finance LLC, the entity we label as Visio Lending's affiliate in earlier pages, reported 203 loans at 7.462%, all of them DSCR-type. Velocity Commercial Capital reported 289 (9.865%), LendingOne 50 (6.94%) and Lima One Capital 29 (7.35%). RCN Capital had 23 investor loans, all short-term, and no DSCR-type loan; Easy Street Capital reported none. These are HMDA-visible loans only; see our Kiavi review and Visio versus Velocity versus Kiavi for the companies themselves.

Largest New York lenders by conventional first-lien investor loans, 2025, with their DSCR-type count

Loan Funder, the largest investor lender, shows the trap: 1,689 investor loans but 632 DSCR-type, and a 9.99% median across all of them because the rest are short-term loans. Rank by DSCR-type loans, not by investor loans.

What rates did the market price? New York 2025

The middle half of New York DSCR-type borrowers paid between 6.875% and 7.75%, with the 10th percentile at 6.5% and the 90th at 8.25%. Of the 9,866 loans with a rate, 3,670 (37.2%) were at 7% or less and 1,219 (12.4%) above 8%; the highest was 12.99%.

New York DSCR-type loans, 2025 (federal HMDA data, our arithmetic)

The DSCR premium over income-qualified business-purpose investor loans is 0.125 points (7.25% against 7.125%), and it cannot be read as the price of the ratio test: the two groups differ in loan size and lender. By loan-to-value the median ran from 6.875% at 60% or less to 7.5% above 75%, and cash-out refinances priced at 7.375% against 7.25% for purchases. Interest-only loans had a 7.375% median.

Monthly principal and interest on the $445,000 median loan, 30-year fixed, at each New York 2025 rate (our arithmetic)

A borrower at the 25th percentile pays $112.35 a month less than one at the median, and the median borrower $152.35 less than one at the 75th (our arithmetic). The same arithmetic on the typical loan in each part of the state gives a different picture: the five-borough median of $705,000 at 7.025% is $4,702.23 a month and needs $5,877.78 of rent for a 1.25 ratio on principal and interest, while the median in the rest of the state, $165,000 at 7.5%, is $1,153.70 and needs $1,442.13. These are note rates at origination in 2025, not today's quotes; see DSCR loan rates 2026 for the current picture and our DSCR calculator to put in your own rent and taxes. The 1.25 ratio is an illustration; lenders set their own minimums, and real ratios also count taxes and insurance.

Who got denied

The federal file also lists denied applications, which most of our state pages leave out. Counting applications that ended in an origination or a denial and passed the same filter, 2,754 of 12,639 were denied: 21.8% (our arithmetic). Withdrawn applications and files closed for incompleteness are in other categories that we did not count.

First denial reason reported on denied DSCR-type applications, 2025

Debt-to-income does not appear because the group is defined by having no ratio reported. Collateral, the property, is the leading cause, which is consistent with a loan underwritten on the asset. Lender-level denial rates in this file are unreliable for some lenders, because their denied applications carry terms that differ from their closed loans, so we do not rank lenders by denial rate.

New York rules that touch a DSCR loan

Two points matter to a New York rental borrower: the state's mortgage recording tax and its usury rules, which differ for an individual and for a corporation. We read the sections on nysenate.gov and the state Department of Taxation and Finance page on October 28, 2026; the legislature's site blocked automated download, so the text was read with a page-reading tool and we quote only short phrases from it. We give our reading, not legal advice, and we did not read New York City's local mortgage tax, the rate list on Form MT-15, the Banking Law licensing sections or case law.

New York provisions relevant to a DSCR borrower

On the arithmetic: the mortgage tax is a cost of the loan that the DSCR ratio does not count, and in New York it is large. The state-level components on the $445,000 median loan total $4,450.00 outside the metropolitan commuter transportation district and $4,672.50 inside it (our arithmetic: 0.50 + 0.25 + 0.25 or 0.30 per $100, including the 0.25 that falls on the lender for small residential properties), before any local tax and before any exclusion or credit the statute allows. Ask for the title company's estimate early; a lender that quotes no points can still leave you thousands of dollars in recording tax.

On usury: 2,800 DSCR-type loans, 28.3% of the total, were under $250,000, and 965 of those went to an entity. For those loans the size exemption in 5-501(6) does not apply, and the protection against a usury defense rests on 5-521 for a corporation, or on the borrower's own status, which this page cannot assess. An individual borrowing in their own name on a small rental loan should ask the lender, and a New York attorney, how the loan is structured. Whether a limited liability company counts as a corporation under 5-521 is a legal question we did not research.

How we read the federal file

The Home Mortgage Disclosure Act (HMDA) file lists every loan a reporting lender originates and every application it denies, with its note rate, amount, loan-to-value, purpose, county and lender. We used the 2025 New York file of originated and denied investment-property loans from the FFIEC HMDA Data Browser, downloaded October 28, 2026. A direct re-download from the browser's API the same evening returned an access-denied error, so the counts come from the copy we cached earlier that day; the request URL is in the data file. Of the 26,199 investment-property originations, 22,864 had 1-4 units; after removing reverse mortgages and open-end lines, 21,373 remained, and 21,158 were conventional first liens. Of those, 18,848 were made for a business purpose, 13,186 of them with no debt-to-income ratio reported (NA), and 9,885 of those had a term of 360 months or more. The remaining no-DTI loans are short-term loans (2,200 at 36 months or less, excluding Emporium TPO) and loans with terms between 37 and 359 months. The loan term in HMDA is in months, so 360 means 30 years. Rates reported as NA or exempt (19 loans) are left out of the rate statistics. Percentiles use linear interpolation. We used the same definition and counting method as our Virginia, Arizona and Tennessee pages.

Limits, so you can weigh the numbers:

• A proxy, not a census. HMDA does not mark DSCR loans. Other no-debt-to-income business loans fall into the group, such as bank-statement or asset-based loans, and DSCR loans reported with a ratio or a shorter term do not.
• Denials are a rough measure. The 21.8% counts applications by the same filter, but a denied application has no closed loan to define it, and lenders fill in denied applications differently.
• Rates, not prices. The file has no usable points breakdown here, no credit score, no rent and no DSCR ratio.
• Rounded amounts. Loan amounts are rounded in the public file, so medians land on round figures.
• One year. This page uses 2025 only; we did not compare it with 2024.
• Groupings are ours. The regions are lists of counties named in the data file, not official definitions.
• Lender names are as filed. Corporate groups can file under several names, and lenders below the reporting thresholds are missing.
• Statutes were read through a page reader, not as official PDFs, and only the sections listed; local and city-specific rules are not covered.

What a New York investor can do with this

1. Pick the comparison set by place. In the five boroughs Emporium TPO (279 loans), Champions Funding (247) and Hometown Equity (234) lead; on Long Island Loan Funder (245), Champions (185) and Hometown Equity (131); in the Westchester and Hudson Valley group Champions (313), Logan Finance (180) and Hometown Equity (142). A lender with a few hundred loans near you has done the work you are asking for.
2. Get three quotes from different channels. A broker-fed lender such as Champions Funding or United Wholesale, a direct lender such as Hometown Equity or CrossCountry, and a platform lender. Among the top 12 (excluding Velocity) the lowest and highest medians are 6.875% and 7.625%, worth about $226.35 a month on $445,000 (our arithmetic).
3. Rank by DSCR loans, not investor loans. Rocket Mortgage made 367 investor loans in New York and one DSCR-type loan.
4. Ask for the cost sheet. Points, fees and the prepayment penalty are not in HMDA, and the New York mortgage recording tax can be a large cost. Ask for a written estimate of both before paying for an appraisal; our DSCR versus conventional comparison shows how to compare.
5. On a two- to four-unit building, ask how the lender counts rent. Nearly half of New York's DSCR loans are on such buildings; ask whether the lender uses the lease, market rent or the appraiser's schedule, and what happens to vacant units.
6. If you hold in an LLC, read the lender's entity rules. Our DSCR loan LLC page lists lenders that require an entity; the entity route also changes the usury position described above. For the short-term product, see New York hard money lenders.

FAQ

Related reads: New York hard money lenders, and the Pennsylvania, Virginia and Arizona DSCR pages use the same federal definition.

Loan-level data: FFIEC/CFPB HMDA Data Browser, originated and denied investment-property loans for New York, 2025, downloaded October 28, 2026 (request URL and counting script saved with the data file); definitions from the FFIEC HMDA field list and the Regulation C commentary; lender names from the FFIEC 2025 filer list; counties from the Census Bureau 2020 county list. Statutes from the New York Tax Law section 253 and General Obligations Law sections 5-501 and 5-521 on nysenate.gov, and the Mortgage recording tax page of the New York State Department of Taxation and Finance. All counts, shares, medians, percentiles and payment figures are our arithmetic. This is analysis of public documents, not investment, legal or tax advice, and not a loan offer.