Available now · Iowa investment lending

Six programs. One credit box. Zero guessing.

Everything EquityBoost writes on Iowa rental property — all of it qualified on the property's cash flow, all of it to an Iowa LLC, none of it needing your tax returns.

No income documentation No property-count cap Iowa metro areas
The lineup
PurchaseAvailable
Rate & term refinanceAvailable
Cash-out refinanceAvailable
Second mortgageAvailable
Interest-only · STR qualifyingAvailable
EquityBoost & ExitFirst portfolioComing soon
Every program: Iowa LLC borrower, personal guaranty, non-owner-occupied 1–4 unit residential, metro areas only.
The programs

Same qualification. Different shapes.

We are a small shop that writes a narrow product deliberately. The deals that fit get priced sharply rather than defensively — and the ones that don't get told quickly.

Purchase

Buy a rental. 30-year fixed, qualified on the property's rent rather than your income.

Term
30-yr fixed
Leverage
≤ 75%
Loan size
$150K–$1.5M
Coverage
1.25×
DSCR loan details →
Rate & term refinance

Replace a maturing balloon, a hard money note, or a bank loan you've outgrown — without taking cash.

Term
30-yr fixed
Leverage
≤ 75%
Seasoning
None
Best pricing
≤ 70%
DSCR loan details →
Cash-out refinance

Pull equity out of a rental you own and redeploy it. At 65% leverage, cash-out costs almost nothing over a purchase.

Max cash
$1M ≤65%
Above 65%
$500K
Seasoning
6 months
Lease
Required
Cash-out details →
Second mortgage

Equity out while your existing low-rate first stays exactly where it is. Almost nobody in Iowa writes these.

Loan size
$100K–$500K
Combined LTV
≤ 80%
Terms
15–30 yr
Reserves
None
Second mortgage details →
Interest-only

Ten years of interest-only payments on a 30-year term. Maximum cash flow while you build the portfolio — for a price.

IO period
10 years
Total term
30 years
After IO
20-yr amort
Trade-off
Costs rate
How IO works →
Short-term rental

Qualify a furnished or nightly rental on its documented short-term income rather than a long-term lease.

Income basis
STR history
Leverage
≤ 75%
Property
SFR · 2–4
Trade-off
Costs rate
How STR works →
Common ground

What every program requires.

Borrower
Iowa LLC with a personal guaranty from the primary member. We can close into a newly formed entity.
Occupancy
Non-owner-occupied investment property only. Not a home you live in, not a second home.
Credit
700 minimum, 720+ preferred. No mortgage lates in 12 months; no bankruptcy or foreclosure in 3 years — 4 on a second mortgage.
Coverage
1.25× targeted on first liens; 1.00× minimum on seconds counting both payments.
Reserves
Three months under $1M, six months above. None on a second mortgage.
Property
SFR, 2–4 unit, and condos including non-warrantable — first liens only for condos. Habitable as it sits.
Prepayment
Five-year step-down standard. Shorter schedules cost rate.
Location
Des Moines metro, Cedar Rapids, Iowa City, the Quad Cities, Waterloo–Cedar Falls, Sioux City, Ames, Dubuque, Council Bluffs.
The answer is no
  • Rural property, acreage, hobby farms, agricultural use
  • Owner-occupied and second homes
  • Ground-up construction and renovation draws
  • 5+ unit apartments, mixed-use, commercial
  • Condotels, co-ops, manufactured, modular, log, leasehold
  • Land trusts, land contracts, age-restricted communities
  • First liens under $150,000 · seconds under $100,000
We're the takeout, not the construction money. Once a property is renovated, habitable and leased, we refinance it and pay off whatever funded the work.
How we price, in one sentence: our sharpest pricing sits at 60–70% leverage with a 720+ score — not as a marketing preference, but because that is where the structure genuinely works best. Pushing to 80% costs more rate than the extra proceeds are usually worth. If you have the equity, use it.
Interest-only

When IO is worth the rate.

Interest-only buys cash flow. On a $250,000 loan the difference between an IO payment and a fully amortizing one runs a few hundred dollars a month — for an investor assembling a portfolio, that difference is the down payment on the next property.

It is not free. IO costs rate, and the cost rises with leverage. You build no equity through principal for ten years, and when the IO period ends the balance amortizes over twenty years, so the payment step-up is larger than most people expect. Worth it if you are actively acquiring and will refinance or sell inside the ten years; rarely worth it on a forever hold.

Short-term rentals

STR income counts — documented.

We can qualify a property on documented short-term rental income: platform statements, a rental history report, or a signed management agreement with performance data. A projection of what the property could earn is not enough.

It costs rate at every leverage band relative to the same property with a twelve-month lease. If the property also supports a long-term rent that covers the payment at 1.25×, qualifying it that way almost always prices better — worth running both.

Straight answers

Program questions, answered.

01

Can I combine programs?

Some. Interest-only and short-term rental qualifying can be added to a purchase, a rate-and-term refinance, or a cash-out refinance — each one costs rate, and stacking both costs both. Neither is available on a second mortgage.
02

Which program has the best rate?

A purchase or rate-and-term refinance at 60–70% leverage with a 720+ score. Everything else prices off that: cash-out at or below 70% adds about an eighth of a point, second mortgages price meaningfully higher because they sit behind another lien, and interest-only and short-term rental each cost rate on top.
03

Do you lend on condos?

Yes on first liens, including non-warrantable condominiums. No on second mortgages — condos of every kind are excluded there, including warrantable ones we would take on a first.
04

What is the smallest loan you will do?

$150,000 on a first lien and $100,000 on a second mortgage. Below those numbers the pricing deteriorates enough that we would not be doing you a favor, and a local bank or credit union will usually serve you better.
05

How many properties can I finance with you?

There is no limit. That is one of the main reasons investors come to a DSCR lender — conventional financing stops at ten financed properties and this does not.
06

How fast can you close?

Plan on three to four weeks from a complete application, with the appraisal usually the long pole. A leased property with a current abstract and a responsive borrower moves faster.
Ready when you are

Not sure which one fits?

Send the address, the rent, what you owe and what you are trying to do. We will tell you which program is the right tool — including when the answer is none of them.