Quick answer: Yes — Defy originates DSCR loans across Washington with a 0.75 minimum DSCR, 640 minimum FICO, and a $75,000 minimum loan amount with no hard maximum. No tax returns, no DTI calculation, no employment verification. Washington splits into two different investment states: the coverage spread lives east of the Cascades — Spokane and the Tri-Cities pencil on cash flow, while Seattle-side deals lean on appreciation and rent depth.
Where Washington DSCR deals pencil in 2026
Spokane. The cash-flow anchor. Healthcare (Providence), Fairchild AFB, and a diversified regional economy rent workforce SFRs dependably at half of Puget Sound prices. North Spokane and the Valley are the dependable submarkets.
Tri-Cities. Kennewick, Pasco, and Richland ride Hanford contracts, agriculture-tech, and steady in-migration. Vacancy stays low, entry prices stay moderate, and coverage in the low-1.2s is routine.
Vancouver / Clark County. Portland spillover without Oregon’s income tax. Strong rent depth, newer suburban stock, and tenants who commute south. Prices are richer than eastern Washington but the demand base is deep.
Seattle / Tacoma. The deepest rent market in the Northwest — and the most expensive entry. Tacoma, Everett, and south King County pencil better than Seattle proper; expect ratios near the line and size the down payment accordingly.
Washington DSCR loan requirements
| Requirement | Defy’s terms |
|---|---|
| Minimum DSCR | 0.75 |
| Minimum credit score | 640 |
| Loan amount | $75,000 minimum — no hard maximum |
| Max LTV (purchase) | Up to 85% SFR · up to 80% 2–4 unit |
| Max LTV (cash-out refinance) | Up to 80% SFR · up to 75% 2–4 unit |
| Max LTV (rate/term refinance) | Up to 80% SFR · up to 75% 2–4 unit |
| Typical close | 14–21 days |
| Documentation | No tax returns · no DTI · no employment verification |
A worked Spokane example
Say you’re buying a $340,000 single-family rental in north Spokane at 80% LTV. Market rent comes in at $2,350. Your total monthly payment — principal, interest, taxes, insurance, and any association dues (PITIA) — pencils at roughly $1,950.
DSCR = $2,350 ÷ $1,950 = 1.21.
Comfortably above Defy’s 0.75 floor — the property qualifies on its own cash flow. Your tax returns and your day job never enter the file.
Washington underwriting realities
Rent-increase rules changed the growth math. Washington’s statewide rent-stabilization law caps most annual increases, and Seattle layers its own tenant protections on top. The deals still work — but underwrite in-place rents, not aggressive year-two growth.
Seattle-specific tenant regulation. First-in-time screening, move-in fee caps, winter eviction limits, and registration requirements apply inside city limits. Many investors buy in Tacoma, Everett, or unincorporated King County specifically to simplify operations.
REET is a real exit cost. Washington’s graduated real estate excise tax takes a meaningful bite on disposition — it belongs in the hold-period model, not as a surprise at sale.
Wildfire and WUI insurance east of the Cascades. Spokane’s fringe and central Washington addresses increasingly price wildfire exposure. Bind the actual quote before you finalize — carrier appetite varies block by block.
Levy-driven property taxes. Washington’s tax bills move with voter-approved levies rather than a flat rate. Pull the actual current bill per parcel; neighboring districts can differ more than you’d expect.
Eligible property types in Washington
Defy’s DSCR program covers 1-unit single-family rentals and 2–4 unit residential property, including condos, townhomes, and planned-unit developments. Both long-term leases and short-term rentals qualify, which matters in Leavenworth, Chelan, and along the coast where short-term revenue is what carries the property.
Leverage follows the property type. A single-family rental goes to 85% LTV on purchase; a 2–4 unit caps at 80% LTV. On a refinance, cash-out or rate/term, the ceilings drop to 80% LTV on SFR and 75% LTV on 2–4 unit. Property above four units sits outside the DSCR program and needs a commercial structure.
Rates
DSCR pricing moves daily with the market. Current ranges are posted on our DSCR loan rates page.
Licensing
Washington is part of Defy’s 38-state DSCR lending footprint for business-purpose investment property loans. See the full list on our state licensing page.
Washington DSCR FAQs
What is the minimum DSCR for a Washington investment property?
0.75. Rent that doesn’t fully cover the payment can still close with adjusted pricing and LTV — the common path on Seattle-side deals where prices outrun rents.
Do 2–4 unit properties qualify?
Yes, at up to 80% LTV on purchase. Tacoma and Spokane carry solid duplex-to-fourplex inventory.
Can I close in an LLC?
Yes — most Washington DSCR borrowers vest in an LLC. Business-purpose loans make entity closings standard.
Does the $75,000 minimum matter in Washington?
Rarely — most Washington acquisitions clear it easily. It only surfaces on the cheapest small-town deals east of the Cascades.
Can I use a DSCR loan for a short-term rental in Washington?
Yes where local rules allow — Leavenworth, Chelan, and coastal markets all regulate STRs at the city or county level. Confirm the permit path for the specific address before you model nightly rates.
How fast can a Washington DSCR loan close?
14–21 days is typical. The appraisal with rent schedule (Form 1007) sets the pace; no income documentation means the rest moves fast.
Run your Washington numbers
Bring the address and the rents. If the property covers, we’ll get you to the closing table in two to three weeks — no tax returns, no DTI, no employment verification. Start with Defy’s DSCR loan program or read the complete DSCR guide. Dare to Defy.
