Kiavi DSCR Loan Review: Rates, Terms, and Pros/Cons

Kiavi (formerly LendingHome) has established itself as one of the leading private lenders for real estate investors. Their DSCR (Debt Service Coverage Ratio) loan program offers financing for rental properties based on the property's income rather than the borrower's personal income—a game-changer for self-employed investors and those with multiple properties.

What Is Kiavi?

Kiavi is a technology-driven real estate finance company that provides loans specifically designed for real estate investors. Founded in 2014 as LendingHome and rebranded to Kiavi in 2021, the company has funded over $12 billion in loans across all 50 states. Unlike traditional banks, Kiavi specializes in investor-focused loan products including fix-and-flip loans, bridge loans, and DSCR rental loans.

Kiavi DSCR Loan Overview

Kiavi's DSCR loan program is designed for investors purchasing or refinancing rental properties. The key feature is that qualification is based on the property's rental income rather than the borrower's W-2 income, tax returns, or debt-to-income ratio.

Key Features

• Loan amounts: $75,000 to $3 million
• Interest rates: Starting around 7.5% - 11% (rates vary based on credit, DSCR, and market conditions)
• Terms: 30-year fixed or adjustable-rate options
• DSCR minimum: 1.0 (some exceptions for lower DSCR with larger down payments)
• Credit score minimum: 660
• Down payment: Minimum 20% (25% for properties with DSCR below 1.0)
• Property types: Single-family, 2-4 units, condos, townhomes
• Closing time: 15-30 days

Rates and Pricing

Kiavi's DSCR loan rates are competitive within the private lending space, though they're typically higher than conventional mortgages. As of early 2026, rates generally fall between 7.5% and 11%, depending on several factors:

Rate Factors

Credit Score Impact:

• 740+: Best rates
• 700-739: Mid-tier pricing
• 660-699: Higher rates with additional pricing adjustments

DSCR Impact:

• DSCR ≥ 1.25: Best pricing
• DSCR 1.10-1.24: Standard pricing
• DSCR 1.00-1.09: Rate add-ons apply
• DSCR < 1.00: Available with 25%+ down payment and rate adjustments

Loan-to-Value (LTV) Impact:

• Lower LTV ratios (more equity) = better rates
• Maximum 80% LTV for standard pricing
• 75% LTV for properties with DSCR under 1.0

Fees

• Origination fee: Typically 1-2 points (1-2% of loan amount)
• Processing fee: $500-$750
• Underwriting fee: Included in origination
• Appraisal: $400-$600 (paid directly to appraiser)
• Prepayment penalty: Varies by loan product; typically 3-2-1 step-down or none

Eligibility Requirements

Borrower Requirements

Credit Score: Minimum 660 FICO score required. Higher scores (720+) receive significantly better pricing and terms.

Experience: No minimum real estate investing experience required, making Kiavi accessible to newer investors. However, experienced investors may receive better terms.

Liquidity: Reserves required typically range from 6-9 months of PITIA (Principal, Interest, Taxes, Insurance, and Association fees). The exact requirement depends on the number of financed properties.

Citizenship: Must be a U.S. citizen or permanent resident with a valid Social Security Number.

Property Requirements

Eligible Properties:

• Single-family residences
• 2-4 unit multifamily properties
• Condos (warrantable)
• Townhomes
• Properties in trust or LLC

Property Condition: Properties must be in good, rentable condition. Major repairs or renovations are not allowed under the DSCR program (consider Kiavi's bridge loans instead).

Location: Available in all 50 states, though some rural areas may have restrictions.

Occupancy: Must be investor-owned rental property. Owner-occupied properties are not eligible.

DSCR Calculation

Kiavi calculates DSCR using a straightforward formula:

DSCR = Monthly Rental Income ÷ Monthly Debt Service

Where monthly debt service includes:

• Principal and interest
• Property taxes
• Homeowners insurance
• HOA fees (if applicable)
• Mortgage insurance (if applicable)

Example:

• Monthly rent: $2,500
• P&I payment: $1,800
• Taxes: $300
• Insurance: $150
• Total debt service: $2,250
• DSCR: $2,500 ÷ $2,250 = 1.11

A DSCR of 1.0 means the property breaks even. A DSCR of 1.25 means the property generates 25% more income than expenses, providing a cushion.

Application Process

Kiavi has streamlined the DSCR loan application with a technology-forward approach:

Step 1: Online Application (15-30 minutes)

Submit basic information through Kiavi's online portal including property address, purchase price or estimated value, and personal information.

Step 2: Document Upload (1-3 days)

Upload required documents:

• Government-issued ID
• Lease agreement or rent roll
• Property insurance declaration
• Bank statements (3 months for reserves)
• Entity documents (if holding in LLC)

Note: No tax returns or W-2s required—a major advantage for self-employed investors.

Step 3: Appraisal (7-10 days)

Kiavi orders the appraisal. The appraiser will also provide a rental market analysis to determine market rent for DSCR calculation.

Step 4: Underwriting (5-7 days)

Kiavi's underwriting team reviews the file. Typical conditions include title work, final insurance verification, and reserve documentation.

Step 5: Clear to Close (1-3 days)

Once all conditions are satisfied, the loan moves to closing. Kiavi coordinates with the title company for signing.

Total Timeline: 15-30 days from application to closing, with most loans closing within 3 weeks.

Pros of Kiavi DSCR Loans

1. No Income Verification

The biggest advantage is that Kiavi doesn't require tax returns, W-2s, or income verification. This is ideal for:

• Self-employed investors whose tax returns show lower income
• Investors with multiple properties who exceed conventional DTI limits
• Foreign nationals with U.S. credit history
• Retirees with limited documented income

2. Fast Closing Times

Kiavi's technology platform and investor focus enable faster closings than traditional banks. Most loans close in 15-25 days, with some rush closings possible in 10-12 days.

3. Competitive Rates for Private Lending

While higher than conventional loans, Kiavi's rates are competitive within the DSCR loan space, especially for borrowers with strong credit and DSCR ratios above 1.2.

4. Flexible Property Types

Kiavi accepts a wide range of property types including condos and 2-4 units, giving investors more options than some competitors who only finance single-family homes.

5. Allows DSCR Below 1.0

With a larger down payment (25%), Kiavi will finance properties with DSCR as low as 0.75, which can be valuable in appreciating markets where cash flow is temporarily negative but long-term value is strong.

6. Experienced Investor-Focused Team

Kiavi's staff understands real estate investing and can move quickly without the bureaucracy typical of large banks.

7. Portfolio Loan Options

For investors with multiple properties, Kiavi offers portfolio pricing that can improve terms and streamline the process.

8. Technology Platform

Kiavi's online portal provides real-time updates on loan status, document uploads, and messaging with the loan team—reducing delays and confusion.

Cons of Kiavi DSCR Loans

1. Higher Interest Rates Than Conventional

DSCR loans from Kiavi typically run 1-3% higher than conventional mortgages. While this is standard for DSCR products, it impacts cash flow and long-term profitability.

2. Significant Upfront Costs

Origination fees of 1-2 points plus other closing costs can add $5,000-$15,000 to the loan costs. These must be factored into the investment analysis.

3. Higher Credit Score Requirements

The 660 minimum is higher than the 620 minimum for conventional loans, and borrowers in the 660-700 range face significant rate adjustments.

4. Substantial Reserve Requirements

6-9 months of reserves can tie up significant capital, especially for investors with multiple financed properties. A $300,000 portfolio might require $15,000-$25,000 in liquid reserves.

5. Prepayment Penalties

Many Kiavi DSCR loans include prepayment penalties in the first 3 years, which can limit flexibility for investors who want to sell or refinance.

6. Limited to Rental Properties

Unlike conventional loans, you cannot use Kiavi's DSCR product for primary residences or second homes—only for rental investment properties.

7. Property Condition Requirements

Properties must be rent-ready. Investors looking to finance distressed properties need to use bridge loans first, then refinance into a DSCR loan after repairs.

8. Not Ideal for Pure Appreciation Plays

If you're investing primarily for appreciation with minimal cash flow, the higher rates and fees can erode returns compared to conventional financing.

Kiavi vs. Competitors

Kiavi vs. New Silver

New Silver offers similar DSCR products but with slightly higher rates and more flexible underwriting for newer investors. Kiavi generally has faster processing and better technology.

Kiavi vs. Visio Lending

Visio Lending often has more competitive rates for borrowers with excellent credit (740+) and strong DSCR ratios. Kiavi may be better for borrowers with lower credit scores or unique situations.

Kiavi vs. Lima One

Lima One offers both DSCR and conventional bridge products. Their rates are comparable, but Lima One may be more flexible on property condition and offers more construction loan options.

Kiavi vs. RCN Capital

RCN Capital specializes in bridge loans but also offers DSCR products. Kiavi's DSCR program is generally more robust, while RCN excels in fix-and-flip financing.

Who Should Consider Kiavi?

Kiavi's DSCR loan program is best suited for:

Ideal Borrowers

• Self-employed investors: Who can't qualify for conventional financing due to tax write-offs
• Portfolio investors: Building a rental property portfolio and hitting DTI limits
• Experienced flippers transitioning to rentals: Who want to hold properties long-term
• Foreign nationals: With U.S. credit and investment properties
• Time-sensitive buyers: Who need to close quickly (under 30 days)

Less Ideal For

• First-time homebuyers: Looking for primary residence financing
• Budget-conscious investors: Who can qualify for conventional financing at lower rates
• Value-add investors: Looking to finance distressed properties needing major repairs
• Very small loans: Under $100,000 where fees become proportionally expensive

Tips for Getting the Best Terms

1. Improve your credit score: Every 20-point increase can significantly reduce your rate. If you're at 680, consider waiting 3-6 months to reach 700+.

2. Maximize DSCR: If possible, make a larger down payment or find properties with stronger rental income to push DSCR above 1.25.

3. Build reserves: Having 12 months of reserves instead of the 6-month minimum can improve your profile and ease underwriting.

4. Leverage relationships: After your first loan with Kiavi, subsequent loans may qualify for better pricing and faster processing.

5. Compare multiple lenders: Get quotes from 3-5 DSCR lenders to ensure competitive pricing. Rate differences of 0.5% can mean thousands over the loan term.

6. Consider rate buydown: Paying additional points upfront can reduce your interest rate if you plan to hold the property long-term.

Final Verdict

Rating: 4.2/5

Kiavi offers a solid DSCR loan program that's particularly strong for self-employed investors and those building rental portfolios. The combination of competitive rates (for the DSCR space), fast closings, and no income verification makes Kiavi a top choice for many real estate investors.

However, the higher costs compared to conventional financing mean you should exhaust conventional options first if you qualify. For investors who can't access conventional financing—or who prioritize speed and simplicity—Kiavi is an excellent option.

Best for: Self-employed investors, portfolio builders, and those needing fast closings
Skip if: You can qualify for conventional financing at significantly lower rates or need to finance distressed properties

Bottom Line

Kiavi has earned its position as one of the leading DSCR lenders through consistent service, competitive pricing, and an investor-friendly approach. While not the cheapest option on the market, they offer reliable execution and a streamlined process that can make the difference in competitive markets.

For investors looking to scale their portfolios without the income documentation hassles of traditional financing, Kiavi's DSCR loan program deserves serious consideration. Just be sure to run the numbers carefully to ensure the higher costs still support your investment goals.