The Best DSCR Lenders in Oklahoma (Rental Property Loans) [2025 Guide]

If you invest in rental property in Oklahoma you’ve probably heard the term Debt Service Coverage Ratio (DSCR). DSCR loans allow investors to qualify for a mortgage based on the cash‑flow of the property instead of their own pay stubs or tax returns. These loans measure whether a property’s rental income is sufficient to cover the principal, interest, taxes and insurance on the loan. The resulting ratio tells a lender if the property’s income can service the debt: a DSCR of 1.0 means the property breaks even, while 1.25 means there is 25 % more income than expenses. Because the underwriting is focused on property performance, DSCR loans have become a popular tool for scaling rental portfolios, and they now account for roughly 29 % of non‑QM originations.

Oklahoma’s housing market provides fertile ground for DSCR investors. The state remains one of the most affordable markets in the United States; in 2025 the average monthly rent is $1,410, while a typical two‑bedroom unit rents for around $1,100. According to HUD’s Fair Market Rent (FMR) schedule, the 2025 FMR for a 2‑bedroom apartment is $1,079, and a 1‑bedroom unit is $866. Those numbers place Oklahoma nearly 35 % below the national average for similar units. Affordability, combined with strong economic growth in Tulsa, Oklahoma City and emerging hubs like Norman and Stillwater, attracts investors seeking stable cash flow. The majority of leases in Oklahoma are below $1,000 per month, and only about 2.3 % of rentals lease for $2,000 or more. Lower rents help ensure a property’s DSCR remains strong even when financing costs rise.

This guide examines the DSCR lending landscape in Oklahoma for 2025. It explains how DSCR loans work, outlines state‑specific requirements, ranks lenders – with Select Home Loans at number 1 – and provides a detailed roadmap for choosing a lender and applying for a DSCR mortgage. Whether you own a single rental house in Tulsa or a portfolio of short‑term rentals on Grand Lake, the following pages will help you understand how DSCR financing can unlock your next investment.

Understanding DSCR Loans

DSCR Calculation. At its core, the DSCR measures how much cash is left after paying all mortgage‑related expenses. The formula is:

DSCR=Net Operating Income (NOI)Annual Debt Service\text{DSCR} = \frac{\text{Net Operating Income (NOI)}}{\text{Annual Debt Service}}DSCR=Annual Debt ServiceNet Operating Income (NOI)​

Net Operating Income is typically the property’s gross annual rent minus operating expenses and a vacancy factor. Annual debt service includes principal, interest, taxes, insurance and any association dues. For example, a rental house that generates $50,000 in NOI and has $40,000 in annual debt payments would have a DSCR of 1.25. Most lenders use the property’s monthly market rent or the lower of actual rents and appraiser’s market rent to calculate DSCR.

DSCR Thresholds. Lenders prefer properties with DSCR ratios above 1.0, because this indicates the rents cover the mortgage. Ratios of 1.25 or higher generally yield the best rates and terms. A DSCR below 0.75 signals the property’s income barely covers the loan; loans at that level are still possible but they require larger down payments and reserves. This flexibility sets DSCR loans apart from conventional mortgages, which typically demand debt‑to‑income (DTI) ratios under 43 %. Investors can still qualify for DSCR loans if a property’s DSCR is under 1.0, but they should expect higher interest rates or additional reserves.

Why Investors Choose DSCR Loans. DSCR loans remove the need for W‑2s, pay stubs and tax returns. According to Griffin Funding, DSCR lending is reserved for non‑owner‑occupied investment properties; as long as the property’s income meets or exceeds the debt payments, investors can qualify. DSCR loans also allow unlimited cash‑out, unlimited number of financed properties, and the option to close in an LLC or corporation. Loan amounts often range from $75k to $2 million with loan‑to‑value (LTV) ratios up to 80 %, and some lenders go as high as $20 million. Because qualification is tied to the property, experienced and first‑time investors alike can scale their portfolios faster.

DSCR Loan Requirements and Benefits in Oklahoma

Oklahoma lenders have adopted DSCR underwriting guidelines that mirror national standards but include a few local nuances. The table below summarises the core criteria; details follow in the narrative.

• Minimum DSCR: Most lenders expect a DSCR of 1.0 or better. Longleaf Lending, which has an office in Oklahoma City, requires DSCR greater than 1.0 and notes that many borrowers qualify with ratios between 1.0 and 1.2. Griffin Funding targets DSCR of 1.0, but will consider loans with DSCR below 1.0 if the borrower makes a larger down payment or provides additional reserves. Mortgage Shop’s Oklahoma guide states that lenders “typically require at least 1.25 but some lenders will accept 1.0 for strong applicants”.
  
• Credit Score: Oklahoma DSCR lenders generally require a minimum FICO between 620 and 660. Griffin Funding sets a 620 floor, while Longleaf requires 660. Borrowers with scores above 700 may qualify for lower rates.
  
• Down Payment and LTV: Down payments start at 20 %. Griffin Funding’s Oklahoma DSCR program requires at least 20 % down. Mortgage Shop suggests that most Oklahoma DSCR loans require 20–25 % down. LTVs typically cap at 80 %; cash‑out refis often max out at 75 %.
  
• Loan Amounts: DSCR mortgages in Oklahoma generally range from $75,000 to $2 million. Some national lenders, such as Griffin Funding and CoreVest, will lend up to $20 million.
  
• Property Types: Lenders finance a wide spectrum of properties, including single‑family rentals, townhomes, condos, duplexes and small multi‑family buildings. Vacation rentals and short‑term rentals are also allowed, provided they have verifiable rental history. DSCR loans cannot be used on owner‑occupied homes.
  
• Reserves and Documentation: Borrowers must provide a rent schedule or lease agreements, property tax bills, insurance quotes and proof of funds for the down payment. Mortgage Shop notes that Oklahoma investors should budget for tornado and hail insurance (common in the region) and factor in property taxes and HOA dues. Some lenders require six to twelve months of reserves for properties with DSCR below 1.0, while cash‑out refis may not require reserves.
  

Benefits of DSCR Loans for Oklahoma Investors

Aside from flexible qualification, DSCR loans offer several advantages. Investors can close in the name of an LLC, which helps protect personal assets and simplifies accounting. Because lenders evaluate the property rather than the borrower’s salary, self‑employed investors and those with multiple mortgages can continue to scale. Many DSCR lenders allow an unlimited number of financed properties, which is particularly valuable for portfolio landlords. Investors also have access to interest‑only options and long amortisation periods (up to 40 years) that can boost monthly cash flow. Finally, DSCR loans often close in weeks rather than months; Longleaf Lending advertises closings “as fast as two weeks”.

Ranking the Best DSCR Lenders in Oklahoma

Selecting the right lender is crucial. The Oklahoma market hosts a mix of national DSCR specialists and locally based firms. The following ranking considers underwriting flexibility, customer service, local knowledge and available loan products. Select Home Loans takes the top position due to its combination of competitive rates, investor‑friendly terms and strong reputation. Note that all DSCR lenders discussed here serve non‑owner‑occupied properties and require a minimum DSCR around 1.0 unless noted otherwise.

1. Select Home Loans (Our Top Pick)

Website: SelectHomeLoans.com

Phone: 888-550-3296

Select Home Loans is consistently rated one of the best DSCR lenders in Oklahoma due to its blend of national reach and local expertise. The company offers 30‑year, 15‑year and interest‑only DSCR products for single‑family homes, small multifamily buildings and short‑term rental properties. Borrowers can close in an LLC, and there is no limit to the number of financed properties. Select Home Loans will underwrite DSCR ratios as low as 0.75 for well‑qualified borrowers, though a ratio of 1.0 or above is preferred. Minimum down payment is 20 %, with loan amounts from $100k to $5 million; larger portfolios can access blanket loans. The company’s Oklahoma team understands regional considerations such as severe‑weather insurance, property taxes and local rent controls. Investors appreciate its streamlined application process and dedicated support teams who help evaluate deals and structure financing. Because of its flexible underwriting and local support, Select Home Loans is our number‑one choice for Oklahoma DSCR financing.

2. Longleaf Lending

Longleaf Lending operates out of Houston but serves investors across Texas and Oklahoma. Its DSCR loans cater to both novice and seasoned investors. The lender requires a DSCR greater than 1.0 and notes that most borrowers fall between 1.0 and 1.2. Longleaf lends from $75,000 to $2 million, with LTVs up to 80 % and a choice of 30‑year fixed or 30‑year with 10‑year interest‑only periods. Interest rates start around 6.6 % and origination points run between one and three points. The company will finance single‑family rentals, duplexes, triplexes and four‑plexes as well as warrantable condos. Minimum credit score is 660. Longleaf specialises in speedy closings – often in two weeks – and provides in‑house underwriting, which limits surprises during the process. Investors appreciate the lender’s willingness to look at slightly lower DSCRs if there is strong rent growth potential or a high borrower credit score.

3. Griffin Funding

Griffin Funding is a national DSCR specialist with a significant presence in Oklahoma. The company’s DSCR program requires a minimum credit score of 620 and a down payment of 20 %. While many lenders refuse to lend when the DSCR is below 1.0, Griffin will consider lower ratios if the borrower contributes additional reserves and accepts a higher interest rate. Loan amounts range from $100k to $20 million, and borrowers can finance an unlimited number of properties. Investors can choose between 30‑year fixed and 40‑year interest‑only terms. The company is also comfortable with short‑term rentals and properties in LLCs. Griffin’s underwriting team is known for creative solutions, which makes it a strong option for investors who have complex portfolios or non‑traditional properties.

4. Mortgage Shop (Oklahoma DSCR Application Guide)

Mortgage Shop is not a direct lender but publishes a thorough DSCR loan application guide tailored to Oklahoma investors. According to the guide, most lenders “typically require a DSCR of 1.25 or higher, but some lenders will accept 1.0 for strong applicants”. Down payments usually range from 20 % to 25 %. The guide emphasises that investors need to account for property‑specific items like tornado and hail insurance and property taxes, and to gather documents such as lease agreements, insurance quotes and LLC paperwork. While Mortgage Shop doesn’t originate loans, the guide offers practical state‑specific insights and can help borrowers prepare for an application. When used in conjunction with one of the lenders listed here, the resource helps ensure a smooth closing.

5. Newfi

Newfi is a national non‑QM lender that offers DSCR loans in Oklahoma. It qualifies borrowers based on property cash flow and does not require personal income verification. Newfi accepts DSCR ratios down to 0.8 (though 1.0 is preferred), requires a minimum credit score of 640 and offers down payments as low as 20 %. Borrowers can choose 15‑, 30‑ or 40‑year amortisation schedules and may opt for interest‑only payments during the early years. Newfi will finance up to 80 % LTV and allows properties held in an LLC. Because the lender originates DSCR loans nationwide, Oklahoma investors can tap into a standardized process while still benefiting from local property appraisals.

6. Angel Oak Mortgage Solutions

Angel Oak specialises in non‑QM lending and provides DSCR loans nationwide. According to New Silver’s DSCR lender comparison, Angel Oak offers DSCR loans up to $1.5 million, with options for 40‑year fixed terms with interest‑only periods. Borrowers can own an unlimited number of properties, and the loans are available for single‑family and multi‑family properties including condos and townhomes. Angel Oak typically requires a minimum credit score of 620 and a down payment of 20 %. Investors appreciate the lender’s flexible documentation requirements and the ability to finance short‑term rentals as well as long‑term leases.

7. Kiavi

Kiavi (formerly LendingHome) offers DSCR loans for one‑ to four‑unit rentals and small multifamily properties. The lender does not require personal income verification; decisions are based on property cash flow and after‑repair value. Kiavi’s DSCR minimum is typically 1.0, though some borrowers with strong credit and cash reserves may qualify with slightly lower ratios. Loan amounts range from $50,000 to $2 million, and borrowers can finance multiple properties simultaneously. Kiavi is known for its digital application portal, quick pre‑qualifications and options to roll renovation costs into the loan – a useful feature for investors repositioning Oklahoma rentals.

8. Lima One Capital

Lima One Capital focuses on lending to professional landlords and fix‑and‑flippers. The company’s DSCR loans require a minimum DSCR of 1.5 and a credit score of at least 700. While the high ratio may discourage some investors, Lima One offers attractive long‑term financing with LTVs up to 75 % and terms of 5, 10 or 30 years. Loan amounts start at $75k and go up to $2 million. For Oklahoma investors with high‑cash‑flow properties or portfolios that produce strong DSCRs, Lima One provides conservative leverage at competitive rates and is especially popular among landlords who value stability.

9. CoreVest

CoreVest offers DSCR rental loans across the United States. Its standard program features 30‑year fixed or adjustable rates with DSCR as low as 1.0. The company lends on single‑family and 1–4‑unit properties and will finance up to 80 % of the property’s value. Loan amounts start at $75k and exceed $2 million, making CoreVest suitable for both entry‑level and portfolio investors. While the company doesn’t publish a minimum credit score on its website, most borrowers need at least 620–640. CoreVest is a strong choice for investors who want consistent guidelines, quick closings and the ability to finance multiple properties under one umbrella.

10. Kirola Capital / Local Banks

Investors should also explore community banks and credit unions within Oklahoma. Institutions like Kirola Capital (an Oklahoma‑based hard‑money lender) and regional credit unions offer DSCR‑style products that use rental income as the primary qualification metric. Terms vary widely: some require DSCR ratios over 1.2 and FICO scores above 680; others focus more on the borrower’s relationship with the bank. Local lenders often provide more personalised service and may be more flexible regarding property type and location. These lenders rarely advertise DSCR programs, so investors should call and ask for “rental property loans” or “investment property loans” that consider cash flow instead of personal debt ratios. While local lenders may not match the nationwide reach of the firms above, they can be ideal for investors buying in rural counties or unique properties that national lenders will not finance.

How to Choose the Right DSCR Lender in Oklahoma

Selecting a DSCR lender involves more than comparing interest rates. Investors should evaluate each lender’s DSCR threshold, credit‑score requirements, loan amounts, fees and prepayment penalties. For example, if your property has a DSCR around 1.0, you’ll want a lender like Longleaf Lending or Griffin Funding that accepts lower ratios. If your property cash flow is exceptionally strong (DSCR above 1.5), you could negotiate lower rates with a conservative lender like Lima One. Also consider how quickly you need to close; many Oklahoma investors pursue distressed properties or time‑sensitive deals, making a two‑week closing window invaluable. Beyond numbers, evaluate customer service. Local lenders provide personal relationships and knowledge of Oklahoma’s county assessors, zoning issues and insurance requirements, while national lenders offer scale and professional underwriting. Interview multiple lenders, ask for written term sheets and confirm all fees (origination, processing, legal) before committing.

Step‑by‑Step Application Process for an Oklahoma DSCR Loan

1. Identify your investment property. Start by selecting a property that meets your investment criteria and has rental demand. Research the neighbourhood’s vacancy rates and verify that expected rents align with FMR data (e.g., $1,100 for a 2‑bedroom unit in Oklahoma).
   
2. Estimate the DSCR. Forecast your rent and subtract operating expenses (taxes, insurance, management, utilities and vacancy allowance). Divide this net operating income by the annual debt service to calculate the projected DSCR. Aim for a ratio above 1.0; if it’s lower, adjust your offer price or look for ways to increase rent (e.g., provide furnishings for a mid‑term rental).
   
3. Gather documentation. Prepare lease agreements or market rent comparables, a personal credit report, bank statements to prove reserves and down payment funds, a copy of your ID, and entity documents if purchasing through an LLC. In Oklahoma, lenders may request hazard and hail insurance quotes due to tornado risks.
   
4. Shop lenders. Contact multiple DSCR lenders, starting with Select Home Loans, Longleaf Lending and other local institutions. Provide the property address, estimated rent and your credit profile to obtain preliminary quotes. Compare rates, fees, DSCR thresholds and closing timelines.
   
5. Submit a formal application. Once you choose a lender, complete a full application. You’ll provide an appraisal deposit and allow the lender to order a valuation. Most DSCR lenders will require a full appraisal, rent schedule and possibly a DSCR calculation from the appraiser. The underwriting team will review your documents and verify the property’s cash flow.
   
6. Underwriting and approval. Expect the lender to examine your DSCR calculation, lease agreements, reserves and credit history. They may request additional documentation (e.g., property management agreement). If DSCR is below threshold, be prepared to provide additional down payment or accept a higher rate.
   
7. Closing. Once approved, the lender will issue closing disclosures summarizing the interest rate, fees and loan term. Review carefully and sign. Closing usually occurs at a title company; you’ll wire your down payment and closing costs. After closing, your property’s cash flow must support the monthly mortgage. Many lenders require you to maintain reserves and keep insurance and taxes current.
   

Improving Your Property’s DSCR

If your projected DSCR falls short of the lender’s target, there are several strategies to improve it. Increase rental income by upgrading the property or switching to a furnished mid‑term rental. DSCR ratios are sensitive to rent increases – raising annual rent from $24,000 to $26,400 can move a ratio from 0.95 to above 1.0. Refinance existing debt: if you have an expensive hard‑money loan on another property, replacing it with a lower‑rate DSCR mortgage can free up cash flow and improve your overall balance sheet. Invest in renovations: upgrades such as adding a bedroom, renovating kitchens or improving energy efficiency can justify higher rent. Manage expenses by negotiating property management fees, shopping insurance policies and appealing property taxes. For multi‑property portfolios, restructure loans to lower rates and align amortisation periods; this can enhance DSCR across the board.

Conclusion

Oklahoma’s combination of affordable housing, growing cities and landlord‑friendly regulations makes it an excellent market for DSCR investors. With an average rent of $1,410 and 2‑bedroom units around $1,100, investors can achieve healthy cash flow while keeping purchase prices relatively low. DSCR loans provide flexible financing for these properties by focusing on rental income rather than personal income. Local lenders such as Longleaf Lending and national players like Griffin Funding allow investors to qualify with DSCR ratios near 1.0, while Select Home Loans stands out as the top choice due to its competitive terms and excellent customer service. By understanding DSCR calculations, meeting state‑specific requirements and choosing the right lender, investors can leverage DSCR financing to build and scale rental portfolios in Oklahoma.