Visio Lending DSCR Review: Rates and Requirements

Visio Lending has carved out a unique position in the DSCR lending market by focusing exclusively on experienced real estate investors and offering some of the most competitive rates available. If you have a strong credit profile and a track record of successful investments, Visio deserves serious consideration—but their stringent requirements mean they're not for everyone.

About Visio Lending

Visio Lending was founded in 2012 and is headquartered in St. Petersburg, Florida. Unlike lenders that offer a broad array of real estate loan products, Visio specializes almost exclusively in long-term rental property financing through their DSCR loan program.

This laser focus has allowed Visio to optimize their underwriting, pricing, and processes specifically for buy-and-hold investors. They've funded over $5 billion in loans since inception, working with thousands of investors across the country.

Visio's business model is built on serving experienced investors who treat real estate as a business. They're not interested in first-time landlords or marginal deals—and this selectivity enables them to offer better rates than most competitors.

Visio DSCR Loan Program Details

Core Loan Terms

• Loan amounts: $100,000 to $5 million (higher amounts to $7.5M for exceptional borrowers)
• Interest rates: 6.75% - 9.50% (as of Q1 2026)
• Loan terms: 30-year fixed, 5/6 ARM, 7/6 ARM, 10/6 ARM
• DSCR minimum: 1.0 (firm floor—no exceptions)
• Credit score minimum: 680 (720+ for best pricing)
• Maximum LTV: 80%
• Down payment: 20% minimum
• Property types: 1-4 units, condos, townhomes
• Coverage: 48 states (excludes Alaska and Hawaii)
• Closing timeline: 20-35 days
• Experience requirement: Minimum 1 rental property owned or managed

Loan Options

30-Year Fixed: Traditional fixed-rate mortgage locked for full 30 years. Most popular option for long-term buy-and-hold investors. Rates typically 0.25-0.50% higher than ARM products.

5/6 ARM: Fixed for 5 years, then adjusts every 6 months based on SOFR index. Initial rate typically 0.50% below 30-year fixed. Good for investors planning to refinance or sell within 5-7 years.

7/6 ARM: Fixed for 7 years, then adjusts every 6 months. Initial rate typically 0.375% below 30-year fixed. Balanced option for medium-term holds.

10/6 ARM: Fixed for 10 years, then adjusts every 6 months. Initial rate typically 0.25% below 30-year fixed. Provides long-term rate certainty with slight savings.

Interest Rates and Pricing

Visio's rates are among the most competitive in the DSCR lending space—but only if you meet their criteria.

Rate Structure (Q1 2026)

Base Rates by Product:

• 30-year fixed: 6.75% - 9.50%
• 5/6 ARM: 6.25% - 9.00%
• 7/6 ARM: 6.375% - 9.125%
• 10/6 ARM: 6.50% - 9.25%

Rate Adjustments

Credit Score Tiers:

• 780+: -0.375% (rate discount from base)
• 760-779: -0.25%
• 740-759: -0.125%
• 720-739: Base rate
• 700-719: +0.25%
• 680-699: +0.50%

The tiering is more granular than many competitors, rewarding excellent credit significantly.

DSCR Impact:

• 1.40+: -0.25%
• 1.30-1.39: -0.125%
• 1.20-1.29: Base rate
• 1.10-1.19: +0.25%
• 1.00-1.09: +0.50%

Visio rewards strong cash flow properties more than most lenders.

Loan-to-Value:

• 50-60% LTV: -0.375%
• 60-70% LTV: -0.25%
• 70-75% LTV: Base rate
• 75-80% LTV: +0.25%

Loan Amount:

• $1M-$2M: -0.125% (economies of scale)
• $2M+: Negotiable, often -0.25% or better

Property Type:

• Single-family: Base rate
• 2-unit: +0.125%
• 3-4 unit: +0.25%
• Condo (warrantable): +0.25%
• Condo (non-warrantable): +0.50%

Experience Level:

• 10+ rental properties: -0.125%
• 5-9 rental properties: Base rate
• 1-4 rental properties: +0.125%

This is unique to Visio and reflects their focus on experienced investors.

Example Rate Calculations

Scenario 1: Optimal Borrower

• Credit score: 780
• DSCR: 1.35
• LTV: 65%
• Loan amount: $450K
• Property: Single-family
• Experience: 8 properties
• 30-year fixed base: 7.50%
• Adjustments: -0.375% (credit) -0.125% (DSCR) -0.25% (LTV) = 6.75%

Scenario 2: Marginal Borrower

• Credit score: 690
• DSCR: 1.05
• LTV: 80%
• Loan amount: $280K
• Property: Single-family
• Experience: 2 properties
• 30-year fixed base: 7.50%
• Adjustments: +0.50% (credit) +0.50% (DSCR) +0.25% (LTV) +0.125% (experience) = 8.875%

The 2.1% spread between these scenarios illustrates why Visio rewards strong borrowers so heavily.

Fees

Origination Fee: 0.50-1.50 points

• Loans $1M+: Typically 0.50-0.75 points
• Loans $500K-$1M: Typically 0.75-1.0 points
• Loans under $500K: Typically 1.0-1.5 points

This is notably lower than many competitors (often 1.5-2.5 points).

Other Fees:

• Underwriting: $500 (separate from origination)
• Processing: $495
• Appraisal: $450-$700
• Credit report: $50-$75
• Flood certification: $15-$25

Prepayment Penalties:

Visio offers two tracks:

Standard Track (with prepayment penalty):

• Year 1: 5% of loan balance
• Year 2: 4%
• Year 3: 3%
• Year 4: 2%
• Year 5: 1%
• Year 6+: No penalty

This is a longer and steeper penalty than most competitors but enables lower rates.

No-Penalty Track:

• Add 0.50-0.75% to interest rate
• Can refinance or sell anytime without penalty

Most borrowers choose the penalty track due to significant rate savings, planning to hold beyond 5 years or pay the penalty if plans change.

Eligibility Requirements

Borrower Requirements

Credit Score: Firm minimum of 680. Unlike some lenders who claim 680 minimums but rarely approve below 700, Visio will work with 680+ borrowers—though expect significant rate premiums below 720.

Credit History: Must show responsible credit management for at least 24 months. Isolated late payments may be acceptable with explanation, but patterns of delinquency result in denial.

Bankruptcies and Foreclosures:

• Chapter 7 bankruptcy: 4 years from discharge
• Chapter 13 bankruptcy: 2 years from discharge
• Foreclosure: 5 years from completion
• Short sale: 3 years from completion
• Deed in lieu: 3 years from completion

These seasoning requirements are stricter than many competitors.

Real Estate Experience: This is Visio's distinguishing requirement. Borrowers must have at least ONE of the following:

• Currently own or have owned a rental property in the past 3 years
• Managed rental properties professionally
• Completed a successful fix-and-flip project
• Owned and operated real estate-related business

First-time rental property investors are categorically excluded. Visio defines "experience" as having been a landlord, not just a homeowner.

Reserves: Required reserves vary based on portfolio size:

• 1-4 financed rental properties: 6 months PITIA
• 5-10 financed properties: 9 months PITIA
• 11+ financed properties: 12 months PITIA

Reserves must be in liquid accounts. Stocks and bonds count at 100% value; retirement accounts count at 70% value (to account for early withdrawal penalties).

Citizenship: U.S. citizens and permanent residents with Social Security Numbers. Green card holders are fully eligible. Foreign nationals are not accepted.

Property Requirements

Eligible Properties:

• Single-family residences
• 2-4 unit multifamily
• Condos (warrantable and select non-warrantable)
• Townhomes
• Planned Unit Developments (PUDs)

Property Condition: Must be in good, habitable condition and currently rent-ready or occupied by tenants. Properties requiring more than cosmetic repairs are not eligible.

Property Value: Minimum value of $100,000; no stated maximum but loans above $5M require executive approval.

Location: Available in 48 states (excludes Alaska and Hawaii). Visio has approved lender status in all covered states.

Occupancy: Must be non-owner-occupied investment property. Primary residences and second homes are ineligible.

Title Holding: Can be held in individual name, LLC, or trust. Visio is comfortable with various entity structures.

DSCR Calculation

Visio uses industry-standard DSCR calculation:

Income: Lower of actual rent (per lease) or appraised market rent. No vacancy factor is applied—full rental income is used.

Expenses: Monthly payment including P&I, taxes, insurance, HOA fees, and any other property-level debt.

Formula: DSCR = Monthly Rental Income ÷ Monthly PITIA

Example:

• Market rent: $2,900
• Current lease: $3,000 (Visio uses $2,900, the lower figure)
• P&I: $2,100
• Taxes: $380
• Insurance: $140
• HOA: $0
• Total payment: $2,620
• DSCR: $2,900 ÷ $2,620 = 1.11

Short-Term Rentals: Visio accepts short-term rental (Airbnb, VRBO) income but requires:

• Minimum 24 months operating history
• Tax returns showing rental income
• Platform-generated income reports
• Income calculated at 75% of historical average (conservative adjustment)

This is more accommodating than many lenders who exclude STR income entirely.

Application and Underwriting Process

Visio's process is streamlined for experienced investors who understand documentation requirements.

Application Steps

Step 1: Pre-Qualification (Day 1)

• Complete online pre-qualification form (10-15 minutes)
• Soft credit pull
• Preliminary property evaluation
• Receive initial rate quote within 24-48 hours

Step 2: Full Application (Days 2-4)

• Submit full application with property details
• Upload initial documents:
  • Photo ID
  • Proof of property ownership (showing investment experience)
  • Lease agreement for subject property
  • Insurance declaration page
  • Purchase contract or current mortgage statement

Step 3: Document Collection (Days 4-8) Additional required documents:

• 3 months bank statements (reserves verification)
• Proof of down payment/closing funds
• Entity documents (if purchasing in LLC)
• Explanation letters (for any credit issues)

Not Required:

• Tax returns (unless claiming short-term rental income)
• W-2s or pay stubs
• Employment verification
• Personal financial statement

Step 4: Appraisal (Days 8-15)

• Visio orders appraisal
• Appraiser conducts full interior/exterior inspection
• Appraisal includes rental market analysis (critical for DSCR calculation)
• Typical turnaround: 5-7 business days

Step 5: Underwriting (Days 15-22)

• Full underwriting review
• Title work ordered and reviewed
• Conditions issued (typical conditions include insurance binder, updated bank statements, lease verification)

Step 6: Clear to Close (Days 22-28)

• Borrower satisfies all conditions
• Final review by underwriter
• Loan approved for closing

Step 7: Closing (Days 28-35)

• Closing disclosure issued (3-day waiting period required)
• Coordinate with title company
• Sign documents
• Funding typically 1-2 days after signing

Average Timeline: 30 days from application to funding, with most loans closing around day 28-32.

What Slows Down the Process

• Incomplete documentation upfront
• Appraisal delays (particularly in rural areas)
• Complex entity structures requiring legal review
• Out-of-state properties requiring additional due diligence
• Borderline DSCR requiring multiple rental comparables

Pros of Visio Lending

1. Best-in-Class Rates for Qualified Borrowers

Visio consistently offers rates 0.25-0.75% lower than competitors for borrowers with 740+ credit and 1.2+ DSCR. Over a 30-year loan, this saves tens of thousands.

2. Lower Origination Fees

At 0.50-1.50 points (vs. 1.5-2.5 points for many competitors), Visio's fees are significantly lower, reducing upfront costs.

3. Rewards Experience

The pricing discounts for experienced investors (10+ properties get -0.125% rate discount) align with Visio's target market and reward sophistication.

4. Granular Credit-Based Pricing

The detailed credit score tiers mean borrowers with 780 credit get meaningfully better rates than those with 720—fair pricing based on risk.

5. Accepts Short-Term Rental Income

Many DSCR lenders exclude STR income entirely. Visio's acceptance (with documentation) opens opportunities for Airbnb investors.

6. No Vacancy Factor in DSCR

Using full rental income without deducting for vacancy makes qualification easier compared to lenders who apply 5-10% vacancy adjustments.

7. Strong Technology Platform

The online portal is clean, provides real-time status, and allows document uploads and messaging—better than many competitors.

8. Responsive Service

Visio's account managers are knowledgeable and responsive, typically replying to emails within 4-8 business hours.

9. Transparent Pricing

Rate sheets are detailed and public. No hidden fees or surprise adjustments at closing.

10. Flexible Entity Structures

Comfortable with LLCs, trusts, and various holding structures without penalizing borrowers or adding complications.

Cons of Visio Lending

1. Requires Investment Experience

The biggest limitation: first-time rental investors are categorically excluded. If you've never owned a rental property, you can't use Visio—full stop.

2. Steep Prepayment Penalties

The standard track features a 5-year penalty that starts at 5% of the loan balance—much higher than the typical 3-year, 3-2-1 structure. Costs a lot if you need to sell or refinance early.

3. No Coverage in Alaska or Hawaii

If you're investing in these states, you'll need a different lender.

4. Strict DSCR Floor

The 1.0 DSCR minimum is firm—no exceptions. Lenders like New Silver (0.75 min) or Easy Street Capital (0.80 min) are better for marginal cash flow properties.

5. Long Bankruptcy/Foreclosure Seasoning

The 5-year foreclosure waiting period is longer than many competitors (typically 3-4 years), limiting options for investors with past distress.

6. Property Condition Requirements

Properties must be rent-ready. Value-add investors need to use bridge financing first, then refinance with Visio after repairs.

7. Higher Underwriting Fees Than Some Competitors

The separate $500 underwriting fee plus $495 processing fee adds nearly $1,000 to costs compared to lenders who include everything in origination.

8. Limited High-Balance Options

While Visio advertises up to $7.5M, loans above $5M are rare and require exceptional borrower profiles. Competitors like Civic Financial or Angel Oak may be better for very large loans.

9. Slower Than Some Competitors

The 28-32 day average timeline is solid but not the fastest. Kiavi and some others can close in 15-20 days for straightforward deals.

Visio vs. Competitors

vs. Lima One Capital

Rates: Visio typically 0.25-0.50% lower for strong borrowers
Experience: Visio requires experience; Lima One doesn't
Products: Lima One offers broader suite (construction, bridge)
Verdict: Visio for experienced investors focused on rates; Lima One for less experienced or those needing multiple products

vs. Kiavi

Rates: Comparable for strong borrowers; Visio slightly better
Speed: Kiavi faster (15-20 days vs. 28-32 days)
Flexibility: Kiavi more flexible on DSCR and experience
Verdict: Visio for best rates; Kiavi for speed and first-timers

vs. New Silver

Rates: Visio 0.50-1.00% lower
Minimums: New Silver much more flexible (640 credit, 0.75 DSCR, no experience required)
Fees: Visio lower fees
Verdict: Visio for experienced investors with strong profiles; New Silver for marginal or first-time borrowers

vs. RCN Capital

Focus: RCN stronger in bridge/flip; Visio stronger in DSCR/rental
Rates: Visio better for DSCR; RCN better for bridge
Experience: RCN requires 1+ flip or rental; Visio requires 1+ rental
Verdict: Visio for buy-and-hold; RCN for active flippers

vs. Griffin Funding

Geography: Griffin primarily California; Visio nationwide (except AK/HI)
Rates: Very competitive in both cases; Griffin slight edge in CA
Local Expertise: Griffin better for California-specific issues
Verdict: Griffin for California; Visio elsewhere

Ideal Borrower Profile

Perfect Visio Candidate

The Experienced Portfolio Investor:

• Owns 3+ rental properties currently
• Credit score 740+
• Properties with strong cash flow (DSCR 1.2+)
• Plans to hold properties long-term (5+ years)
• Values low rates over fast closings
• Comfortable with prepayment penalties
• Treats real estate investing as a business

The Serious Part-Time Investor:

• Owns 1-2 rentals currently
• Credit score 700+
• DSCR above 1.1
• Has 6-9 months reserves
• Looking for reliable, low-cost financing
• Building portfolio systematically

Who Should Look Elsewhere

First-Time Rental Investors: Visio won't work with you. Try Kiavi, New Silver, or Lima One instead.

Marginal Cash Flow Investors: If your DSCR is below 1.0, you need a lender with lower minimums like New Silver or Easy Street Capital.

Value-Add Investors: Properties needing significant repairs aren't eligible. Use bridge financing first.

Speed-Critical Buyers: If you need to close in under 20 days, faster lenders exist.

Credit-Challenged Borrowers: Below 680 credit, you're excluded. Between 680-700, you'll pay significant premiums. New Silver or Easy Street might be better.

Alaska or Hawaii Investors: Geographic restriction requires different lender.

Tips for Getting the Best Terms from Visio

1. Optimize Credit Before Applying

If you're at 735, taking 3-6 months to reach 740+ can drop your rate by 0.125-0.25%. Pay down credit card balances and ensure all bills are current.

2. Structure for Strong DSCR

If possible, make a larger down payment to reduce debt service and push DSCR above 1.2 or 1.3. The rate improvements often justify the extra capital.

3. Build Reserves

Having 12 months reserves instead of the 6-month minimum strengthens your application and may provide negotiating leverage on fees.

4. Document Your Experience Clearly

Provide clear evidence of your investing experience upfront—property deeds, management contracts, or tax Schedule E showing rental income. Don't make underwriting search for it.

5. Choose the Right Loan Term

If you plan to hold 5-7 years, the 7/6 ARM saves 0.375% with minimal rate risk. For true long-term holds (10+ years), the 30-year fixed provides certainty.

6. Negotiate Fees on Large Loans

On loans above $750K, there's often room to negotiate origination fees down 0.25-0.50 points.

7. Consider the Prepayment Penalty Math

Calculate break-even: paying 0.625% higher rate for no penalty vs. paying 5-4-3-2-1% penalties. Often the penalty track is cheaper even if you sell in year 4-5.

8. Bundle Multiple Properties

If you're acquiring multiple properties, ask about portfolio pricing or bulk discounts. Visio may reduce fees or rates for committed volume.

Final Verdict

Rating: 4.5/5

Visio Lending is the premium choice for experienced real estate investors with strong credit and healthy cash flow properties. Their rates are among the best in the DSCR space, their fees are reasonable, and their service is professional.

However, the experience requirement and strict minimums mean Visio isn't for everyone. If you're a first-time investor or have marginal credit/DSCR, you'll need to look elsewhere.

Choose Visio when:

• You have investment property experience (at least 1 current or past rental)
• Your credit score is 700+ (ideally 740+)
• Your property DSCR is 1.0+ (ideally 1.2+)
• You plan to hold the property 5+ years
• You prioritize low rates and low fees over fast closings

Look elsewhere when:

• You've never owned a rental property
• Your credit is below 680
• Your DSCR is below 1.0
• You need to close in under 20 days
• You're investing in Alaska or Hawaii

Bottom Line

Visio Lending rewards experience and credit quality with some of the best rates and terms in the DSCR lending market. They're not trying to be all things to all investors—instead, they focus on serving experienced investors with quality properties, and they do it exceptionally well.

If you fit their target profile, Visio should be at the top of your quote list. The combination of low rates, reasonable fees, and professional service makes them a standout choice for serious rental property investors.

For first-time investors or those with marginal deals, the experience requirement is a hard stop—but once you've got that first rental under your belt, Visio becomes one of your best financing options for property #2 and beyond.