DSCR Loans in New York (2026): Requirements & Lenders

DSCR loan snapshot for New York

Item	Estimate
Minimum down payment	20%–25%
Minimum credit score	660–700
Typical NY home value	$403,000
3.5% down on typical home	$14,105
20% down on typical home	$80,600
Avg. effective property tax	1.60%/yr (~$537/mo)
Income for typical home (31% rule)	$136,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which New York programs pair with DSCR loans?

Achieving the Dream: Low-rate loans for lower-income first-time buyers.
Down Payment Assistance Loan (DPAL): A 0% deferred loan, forgiven after a set period, paired with a SONYMA mortgage.

Details and current limits: State of New York Mortgage Agency (SONYMA).

How is DSCR calculated?

Lenders divide the property's market rent (from an appraiser's rent schedule or an existing lease) by the full monthly payment: principal, interest, taxes, insurance and any HOA dues. Example: $2,400 rent ÷ $2,000 payment = 1.20 DSCR.

Typical DSCR loan requirements

Down payment: 20%–25% (sometimes 15% for strong files).
Credit: 660–700 minimum.
Reserves: commonly 3–12 months of payments.
Property types: 1–4 unit homes, condos and townhomes; some lenders allow short-term rentals.

DSCR loans in New York cities

New York City Buffalo Rochester Yonkers Syracuse Albany New Rochelle Cheektowaga Mount Vernon Schenectady Utica White Plains Hempstead Tonawanda Town Levittown Troy Irondequoit Niagara Falls Binghamton West Seneca Freeport Hicksville West Babylon Coram Valley Stream Central Islip Brighton Kiryas Joel Elmont Commack East Meadow Long Beach New City Uniondale Baldwin Huntington Station Spring Valley Oceanside Rome Ithaca Poughkeepsie Centereach Bay Shore Port Chester Franklin Square North Tonawanda Middletown Harrison Newburgh Saratoga Springs Jamestown Glen Cove Shirley Monsey Deer Park Lindenhurst Ossining West Islip Auburn Elmira Holbrook Plainview Rockville Centre Medford Peekskill Dix Hills Smithtown Watertown Kingston Copiague Garden City Rotterdam Massapequa Merrick Selden East Patchogue Mineola North Bellmore Niskayuna Hauppauge West Hempstead Lockport Eastchester North Bay Shore North Amityville Lynbrook East Massapequa Huntington Nanuet Plattsburgh Mamaroneck Lackawanna East Northport Roosevelt Holtsville Melville Ronkonkoma Lake Ronkonkoma Syosset North Babylon Woodmere Amsterdam Cohoes North Massapequa Scarsdale Wantagh North Valley Stream Port Washington Cortland Bethpage Islip Hampton Bays Oswego Massapequa Park Farmingville Rye Mastic Beach Pearl River Kings Park Fort Drum Floral Park Seaford Westbury Bellmore Sayville Batavia Eggertsville Johnson City Kenmore Riverhead Depew Tonawanda Mastic Gloversville Greenlawn South Farmingdale Glens Falls Beacon Oneonta New Cassel North New Hyde Park Latham Jefferson Valley-Yorktown Jericho Greece Rocky Point Olean East Islip St. James Endicott Salisbury Nesconset Stony Brook Manorville Stony Point Dunkirk Geneva North Merrick Ridge Patchogue Haverstraw Babylon Inwood Mount Sinai Endwell Tarrytown Miller Place North Wantagh Woodbury East Glenville Dobbs Ferry Suffern Fulton Roessleville North Lindenhurst Elwood Middle Island Great Neck Lake Grove North Bellport Terryville De Witt Myers Corner Mount Kisco Corning West Haverstraw Sleepy Hollow Scotchtown Canandaigua Chestnut Ridge East Setauket Watervliet Loudonville Oneida Massena New Hyde Park Fort Salonga South Huntington Lancaster Airmont East Rockaway North Gates

Frequently asked questions

Yes. DSCR loans are available statewide in New York through approved lenders, subject to county loan limits where they apply.

Often yes. State of New York Mortgage Agency (SONYMA) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.

DSCR loans in New York