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DSCR Loans in Ohio

Investment property loans that qualify on rent.

A DSCR loan in Ohio is an investment property mortgage that qualifies on the rent the property earns, not your personal income. HUD puts the 2 bedroom Fair Market Rent for the Columbus metro at $1,602 a month (HUD User). Pillar Mortgage Group (NMLS 2700076) arranges DSCR loans in Ohio up to $5 million.

Run my Ohio dealCheck your DSCR

Facts checked November 1, 2026. Not a commitment to lend.

Facts checked November 1, 2026

Ohio at a glance for DSCR investors

Pulled from state statutes, state agencies, the Census Bureau and FRED. Each row links to its source.

Ohio factValueSource
Security instrumentMortgagecodes.ohio.gov
ForeclosureJudicial; the sale is ordered by the court with jurisdictionOhio Rev. Code § 2323.07
Transfer and recording taxesCounty auditor conveyance fee of 10 cents per $100 (minimum $1) plus a permissive county real property transfer tax of up to 30 cents per $100, for a combined maximum of 40 cents per $100 ($4 per $1,000)Ohio Rev. Code §§ 319.54(G)(3), 322.02
Security depositNo capOhio Rev. Code § 5321.16
Notice for unpaid rent3 day notice before filing forcible entry and detainerOhio Rev. Code § 1923.04
Rent controlRent control and rent stabilization by political subdivisions are preempted as a matter of statewide concern (HB 430, effective September 23, 2022)Ohio Rev. Code § 5321.20
LLC formation fee$99Ohio Rev. Code § 111.16(F)
Median listing price$284,000 in September 2026 ($286,500 in September 2025)Realtor.com via FRED
HUD 2 bedroom Fair Market Rent$1,602, The Columbus metroHUD User
The definition

DSCR loans in Ohio, explained

DSCR is monthly rent divided by PITIA (principal, interest, taxes, insurance and HOA). Take the HUD 2 bedroom Fair Market Rent for the Columbus metro, $1,602: that rent carries a $1,602 payment at 1.00, or $3,204 at 0.50.

Full walk through: how DSCR is calculated.

Where PMG is different

Why Ohio investors use PMG

Nine rules that open more Ohio deals.

  • First time buyers: allowed, no VOR
  • Cash out: no seasoning
  • Reserves: none under $1M, 75% LTV
  • Assets: no sourcing
  • Gift funds: 100%
  • ADUs: multiple
  • Foreign nationals: 70% / 60% LTV
  • DSCR: from 0.50
  • Interest only: 70% / 65% LTV

Loan amount

Up to $5M

Credit

660 and up

Down

20 to 25%

Vesting

LLC ok

Guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend. Compare with typical DSCR programs.

Ohio rental market

Ohio rental numbers: rent and price

These public benchmarks show where Ohio rents and prices sit right now.

HUD Fair Market Rent, 2 bedroom

$1,602

The Columbus metro (FY2027)

HUD User

HUD Fair Market Rent, 2 bedroom

$1,274

The Cleveland metro (FY2027)

HUD User

Median listing price

$284,000

September 2026, down 0.9% from $286,500 in September 2025

Realtor.com via FRED

Quick math (computed from the figures above): At the Ohio median listing price of $284,000, 25% down is $71,000 and the loan is $213,000. A year of rent at the Fair Market Rent for the Columbus metro ($1,602) is $19,224, or 6.8% of that price. A year of rent at the Fair Market Rent for the Cleveland metro ($1,274) is $15,288, or 5.4% of that price.

Fair Market Rent is a HUD benchmark, not an appraisal.

Calculator

Check your Ohio DSCR in seconds

The rent field starts at the HUD 2 bedroom Fair Market Rent for the Columbus metro. HUD also lists the Columbus metro at $1,602 and the Cleveland metro at $1,274. Swap in your lease or appraisal rent, then add your quoted rate. For a price reference, the median Ohio listing was $284,000 in September 2026.

Ohio DSCR Calculator

See how a rental's income stacks up against its full monthly payment. Your numbers stay in your browser.

Income
Example: HUD 2 bedroom Fair Market Rent for the Columbus metro. Replace it with your rent.
Loan
Expenses
Leave blank if there is no HOA.

Your DSCR results

Enter rent, price and your quoted rate to see your DSCR.

Formula used

Loan amount (L) = Price × (100 minus Down %) ÷ 100

P&I (30 year fixed) = L × r × (1 + r)^360 ÷ ((1 + r)^360 minus 1), where r = annual rate ÷ 100 ÷ 12

P&I (40 year interest only) = L × r

PITIA = P&I + Tax ÷ 12 + Insurance ÷ 12 + HOA

DSCR = Monthly rent ÷ PITIA

Rent needed for a target DSCR = Target × PITIA

Talk through your numbers with us

Estimates only. Not a loan offer. Rates and terms vary by lender, property and borrower. Company NMLS #2700076. Example values are illustrations, not a quote.

The math

DSCR worked examples for Ohio

Hypothetical PITIA of $1,775 (P&I $1,400, taxes $250, insurance $125), real Ohio rents. Not a quote or a rate.

The Columbus metro

HUD FY2027 2 bedroom Fair Market Rent (source)
$1,602
Hypothetical PITIA
$1,775

0.90DSCR

$1,602 / $1,775 = 0.90: fits programs down to 0.50.

The Cleveland metro

HUD FY2027 2 bedroom Fair Market Rent (source)
$1,274
Hypothetical PITIA
$1,775

0.72DSCR

$1,274 / $1,775 = 0.72: fits programs down to 0.50.

Talk to us

Have a Ohio rental in mind? Run it with us.

Share the deal and we will run the ratio, compare lenders and lay out your options in plain numbers.

Investors from any state can buy in Ohio.

See If My Ohio Deal Qualifies

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Your information is never sold or shared. By submitting you authorize Pillar Mortgage Group LLC to contact you by phone, text, or email. Equal Housing Lender.

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Top markets

Ohio metros and local rental rules

Most Ohio DSCR deals land in these markets. Check the city rules before you buy.

Columbus

$1,602

HUD 2 bedroom Fair Market Rent, the Columbus metro (HUD)

Cleveland

$1,274

HUD 2 bedroom Fair Market Rent, the Cleveland metro (HUD)

Short term rental rules in Columbus and Cleveland

  • Columbus: STR license required (Columbus City Code Chapter 598). Fees: $20 application, $75 primary residence license or $150 non primary residence license, plus $32 BCI background check. Non primary residence STRs are licensable. Bedrooms cannot exceed the Franklin County Auditor record and occupancy is capped at 3 times bedrooms. A City income tax good standing letter is required. (columbus.gov)
  • Cleveland: STR rules sit in Codified Ordinances Chapter 686B. Separately, every non owner occupied rental must be registered, must be lead safe certified, and owners outside Cuyahoga or a contiguous county must appoint a local agent who can be held liable. (clevelandohio.gov)

City rules change. Confirm with the city and your HOA before you buy, and ask us how your lender counts short term rental income.

Landlord and tenant law

Ohio landlord and tenant rules that affect your DSCR

Know the Ohio landlord rules before you close. They shape your lease, your deposit and how fast you can act on unpaid rent.

TopicThe ruleCitation
Security depositNo cap. Any deposit above $50 or one month's rent, whichever is greater, earns 5 percent annual interest on the excess if the tenant stays 6 months or more. Itemized notice and refund due within 30 days after termination and delivery of possession.Ohio Rev. Code § 5321.16
Pay or quit3 day notice before filing forcible entry and detainerOhio Rev. Code § 1923.04
Month to month notice30 days before the periodic rental dateOhio Rev. Code § 5321.17(B)
Rent controlRent control and rent stabilization by political subdivisions are preempted as a matter of statewide concern (HB 430, effective September 23, 2022).Ohio Rev. Code § 5321.20

Not legal advice.

Closing and foreclosure

Closing a rental in Ohio: deeds, foreclosure and taxes

What to expect at the closing table in Ohio, from the instrument you sign to the taxes on transfer.

  • Security instrument: Mortgage (codes.ohio.gov)
  • Foreclosure: Judicial; the sale is ordered by the court with jurisdiction Ohio Rev. Code § 2323.07 (codes.ohio.gov)
  • Transfer taxes: County auditor conveyance fee of 10 cents per $100 (minimum $1) plus a permissive county real property transfer tax of up to 30 cents per $100, for a combined maximum of 40 cents per $100 ($4 per $1,000). Actual county rate varies. Ohio Rev. Code §§ 319.54(G)(3), 322.02 (codes.ohio.gov)
LLC and vesting

Closing in an LLC in Ohio

What it costs to form and keep an LLC in good standing with the Ohio Secretary of State.

Local angle

What makes Ohio different for rental investors

  • Ohio's three large metros give investors different plays: Columbus with Ohio State University and state government, Cleveland with its health care and older housing stock, and Cincinnati as a tri state market. Cleveland investors face rental registration, lead safe certification and a local agent rule for out of area owners, which matters for out of state DSCR buyers. Statewide, rent control is preempted. (clevelandohio.gov)
Before you offer

Ohio investor checklist

The Ohio rules that touch your lease, your closing and your entity.

  • Security deposit: No cap (Ohio Rev. Code § 5321.16)
  • Unpaid rent notice: 3 day notice before filing forcible entry and detainer (Ohio Rev. Code § 1923.04)
  • Ending a month to month lease: 30 days before the periodic rental date (Ohio Rev. Code § 5321.17(B))
  • Rent control: Rent control and rent stabilization by political subdivisions are preempted as a matter of statewide concern (HB 430, effective September 23, 2022) (Ohio Rev. Code § 5321.20)
  • Security instrument: Mortgage (codes.ohio.gov)
  • Foreclosure: Judicial; the sale is ordered by the court with jurisdiction (Ohio Rev. Code § 2323.07)
  • Transfer and recording taxes: County auditor conveyance fee of 10 cents per $100 (minimum $1) plus a permissive county real property transfer tax of up to 30 cents per $100, for a combined maximum of 40 cents per $100 ($4 per $1,000) (Ohio Rev. Code §§ 319.54(G)(3), 322.02)
  • LLC formation: $99 (Ohio Rev. Code § 111.16(F))
  • Short term rental, Columbus: STR license required (Columbus City Code Chapter 598) (columbus.gov)
  • Short term rental, Cleveland: STR rules sit in Codified Ordinances Chapter 686B. Separately, every non owner occupied rental must be registered, must be lead safe certified, and owners outside Cuyahoga or a contiguous county must appoint a local agent who can be held liable (clevelandohio.gov)
Step by step

Five steps to a Ohio DSCR loan

  1. Send the Ohio deal
  2. We run the DSCR
  3. We shop lenders
  4. Appraisal confirms rent
  5. Close in your name or LLC

Documents: contract, lease or rent schedule, bank statements, LLC papers, insurance quote. No tax returns. Details.

35 states and counting

DSCR loans across the country

Ohio is highlighted. We also lend DSCR in Pennsylvania, West Virginia, Kentucky, Indiana and Michigan next door, and in 30 more states. Tap a gold state to open its guide.

DSCR loans in AlabamaDSCR loans in AlaskaDSCR loans in ArizonaDSCR loans in ArkansasDSCR loans in ColoradoDSCR loans in ConnecticutDSCR loans in DelawareDSCR loans in GeorgiaDSCR loans in HawaiiDSCR loans in IndianaDSCR loans in IowaDSCR loans in KansasDSCR loans in KentuckyDSCR loans in LouisianaDSCR loans in MaineDSCR loans in MarylandDSCR loans in MassachusettsDSCR loans in MichiganDSCR loans in MississippiDSCR loans in MissouriDSCR loans in MontanaDSCR loans in New HampshireDSCR loans in New MexicoDSCR loans in North CarolinaDSCR loans in Ohio (this page)DSCR loans in OklahomaDSCR loans in PennsylvaniaDSCR loans in Rhode IslandDSCR loans in South CarolinaDSCR loans in TennesseeDSCR loans in TexasDSCR loans in WashingtonDSCR loans in West VirginiaDSCR loans in WisconsinDSCR loans in Wyoming
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Small states, tap to open:

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Map geometry: US Census Bureau cartographic boundary files.

FAQ

Ohio DSCR loan questions

Straight answers for investors buying or refinancing rentals in Ohio.

PMG guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend.

Book a free call

Does Pillar Mortgage Group offer DSCR loans in Ohio?

Yes. Purchases, rate and term and cash out refinances on Ohio rentals, up to $5 million, in your name or an LLC. That includes Columbus, Cleveland, Cincinnati and Dayton.

What rent can I use for a Ohio DSCR loan?

The lease or the appraiser's market rent. As a benchmark, HUD puts the 2 bedroom Fair Market Rent for the Columbus metro at $1,602 a month.

How much security deposit can a Ohio landlord take?

No cap. Any deposit above $50 or one month's rent, whichever is greater, earns 5 percent annual interest on the excess if the tenant stays 6 months or more. Itemized notice and refund due within 30 days after termination and delivery of possession. (Ohio Rev. Code § 5321.16)

How does a Ohio landlord start the process for unpaid rent?

3 day notice before filing forcible entry and detainer. (Ohio Rev. Code § 1923.04)

How do you end a month to month lease in Ohio?

30 days before the periodic rental date. (Ohio Rev. Code § 5321.17(B))

Can Ohio cities cap rent?

Rent control and rent stabilization by political subdivisions are preempted as a matter of statewide concern (HB 430, effective September 23, 2022). (Ohio Rev. Code § 5321.20)

What security instrument does Ohio use?

Ohio closes on a mortgage. Foreclosure: Judicial; the sale is ordered by the court with jurisdiction. (Ohio Rev. Code § 2323.07)

What transfer taxes apply to a Ohio purchase?

County auditor conveyance fee of 10 cents per $100 (minimum $1) plus a permissive county real property transfer tax of up to 30 cents per $100, for a combined maximum of 40 cents per $100 ($4 per $1,000). Actual county rate varies. (Ohio Rev. Code §§ 319.54(G)(3), 322.02)

Can my Ohio LLC hold the rental?

Yes, PMG DSCR loans can close in an LLC. $99. (Ohio Rev. Code § 111.16(F))

Can I use a DSCR loan for a short term rental in Columbus?

Often, yes, with stricter income documentation. Local rule: STR license required (Columbus City Code Chapter 598). Fees: $20 application, $75 primary residence license or $150 non primary residence license, plus $32 BCI background check. Non primary residence STRs are licensable. Bedrooms cannot exceed the Franklin County Auditor record and occupancy is capped at 3 times bedrooms. A City income tax good standing letter is required.
Nearby states

DSCR loans in nearby states

Investing across state lines? We lend DSCR in these neighbors of Ohio too.

Sources and review dates

Primary sources, each with the date checked. PMG program facts come from Pillar Mortgage Group.

  1. HUD FY2027 FMR Columbus: https://www.huduser.gov/datasets/fmr/fmr2027/summary?counties=3904999999&reporttype=county&states=39&year=2027&sa_override=1 (checked 2026-11-01)
  2. ORC 2323.07: https://codes.ohio.gov/ohio-revised-code/section-2323.07 (checked 2026-11-01)
  3. ORC 322.02: https://codes.ohio.gov/ohio-revised-code/section-322.02 (checked 2026-11-01)
  4. ORC 5321.16: https://codes.ohio.gov/ohio-revised-code/section-5321.16 (checked 2026-11-01)
  5. ORC 1923.04: https://codes.ohio.gov/ohio-revised-code/section-1923.04 (checked 2026-11-01)
  6. ORC 5321.20: https://codes.ohio.gov/ohio-revised-code/section-5321.20 (checked 2026-11-01)
  7. ORC 111.16: https://codes.ohio.gov/ohio-revised-code/section-111.16 (checked 2026-11-01)
  8. FRED MEDLISPRIOH: https://fred.stlouisfed.org/series/MEDLISPRIOH (checked 2026-11-01)
  9. HUD FY2027 FMR Cleveland: https://www.huduser.gov/datasets/fmr/fmr2027/summary?counties=3903599999&reporttype=county&states=39&year=2027&sa_override=1 (checked 2026-11-01)
  10. Columbus STR info sheet 2026: https://www.columbus.gov/files/sharedassets/city/v/1/business-and-development/business-licenses-amp-resources/str_app-2026.pdf (checked 2026-11-01)
  11. Cleveland rental registration: https://www.clevelandohio.gov/residents/codes-ordinances/residents-first/rental-properties (checked 2026-11-01)
  12. ORC 5321.17: https://codes.ohio.gov/ohio-revised-code/section-5321.17 (checked 2026-11-01)
Ohio investors

Let the rent do the qualifying.

Send the Ohio property and rent. We run the ratio and lay out terms before you offer.

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Run My Ohio DSCR Numbers

No commitment  ·  Under 2 minutes

Your information is never sold or shared. By submitting you authorize Pillar Mortgage Group LLC to contact you by phone, text, or email. Equal Housing Lender.

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Got it.

We will reach out shortly to run your numbers.

Pillar Mortgage Group, LLC is an Equal Housing Lender, doing business in accordance with the Fair Housing Act and Equal Credit Opportunity Act. Not a commitment to lend.
Company NMLS# 2700076  |  Arizona License MB-2009671  |  View NMLS Consumer Access