Qualify on the rent, not your tax returns.
A Washington DSCR loan is a rental property mortgage sized on the rent, with no personal income documents. HUD puts the 2 bedroom Fair Market Rent for the Seattle metro at $2,549 a month (HUD User). Pillar Mortgage Group (NMLS 2700076) arranges DSCR loans in Washington up to $5 million.
Facts checked November 1, 2026. Not a commitment to lend.
DSCR loans by state
We lend DSCR in 35 states. Pick yours.
Every value links to its primary source. Details for each follow further down the page.
| Washington fact | Value | Source |
|---|---|---|
| Security instrument | Deed of trust | app.leg.wa.gov |
| Foreclosure | Nonjudicial trustee sale under the Deeds of Trust Act: notice of sale recorded and mailed at least 90 days before sale (120 days if a RCW 61.24.031 letter is required), sale no sooner than 190 days after default, plus two newspaper publications | RCW 61.24.040 |
| Transfer and recording taxes | State real estate excise tax (REET), usually paid by the seller, graduated on each portion of price: 1.10 percent up to $525,000, 1.28 percent to 1,525,000, 2.75 percent to 3,025,000, 3 percent above | RCW 82.45.060 |
| Security deposit | No cap stated in RCW 59.18.280 | RCW 59.18.280 |
| Notice for unpaid rent | 14 day notice to pay rent or vacate | RCW 59.18.057 |
| Rent control | Statewide rent increase cap | RCW 59.18.700, 59.18.710 |
| LLC formation fee | $180 | app.leg.wa.gov |
| Median listing price | $639,475 in September 2026 ($648,887 in September 2025) | Realtor.com via FRED |
| Median gross rent, statewide | $1,760 (ACS 5 year 2020 to 2024) | Census |
| HUD 2 bedroom Fair Market Rent | $2,549, The Seattle metro | HUD User |
Full walk through: how DSCR is calculated.
Nine rules that open more Washington deals.
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.
Before you run a Washington deal, anchor the rent to public benchmarks instead of a listing agent's guess.
Median listing price
$639,475
September 2026, down 1.5% from $648,887 in September 2025
Quick math (computed from the figures above): At the Washington median listing price of $639,475, 25% down is $159,869 and the loan is $479,606. A year of rent at the Fair Market Rent for the Seattle metro ($2,549) is $30,588, or 4.8% of that price. A year of rent at the Fair Market Rent for the Tacoma metro ($2,064) is $24,768, or 3.9% of that price.
Fair Market Rent is a HUD benchmark, not an appraisal.
The rent field starts at the HUD 2 bedroom Fair Market Rent for the Seattle metro. HUD also lists the Seattle metro at $2,549 and the Tacoma metro at $2,064. Swap in your lease or appraisal rent, then add your quoted rate. For a price reference, the median Washington listing was $639,475 in September 2026.
See how a rental's income stacks up against its full monthly payment. Your numbers stay in your browser.
Enter rent, price and your quoted rate to see your DSCR.
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
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.
Hypothetical PITIA of $1,775 (P&I $1,400, taxes $250, insurance $125), real Washington rents. Not a quote or a rate.
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 Washington.
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The largest Washington rental markets, and what each city requires of short term rental hosts.
City rules change. Confirm with the city and your HOA before you buy, and ask us how your lender counts short term rental income.
A DSCR loan underwrites the rent, so the rules that govern collecting it matter. Here is what Washington law says, with the statute for each.
| Topic | The rule | Citation |
|---|---|---|
| Security deposit | No cap stated in RCW 59.18.280. Return deadline: Within 30 days after termination and vacation, with a full and specific statement of the basis for any amount kept. | RCW 59.18.280 |
| Nonpayment notice | 14 day notice to pay rent or vacate | RCW 59.18.057 |
| Month to month termination | Just cause required: a landlord may not end a periodic (month to month) tenancy except for listed causes, each with its own notice period, for example 90 days for owner or family move in or sale of a single family home, 60 days for other legitimate economic or business reasons. | RCW 59.18.650 |
| Rent control | Statewide rent increase cap: no increase in the first 12 months of a tenancy. Afterward increases limited to 7 percent plus Seattle area CPI or 10 percent, whichever is less. Commerce publishes the cap: 9.683 percent for calendar 2026 and 10 percent for calendar 2027. Some properties are exempt under RCW 59.18.710. | RCW 59.18.700, 59.18.710 |
Not legal advice.
Every dollar of tax raises the payment the rent has to cover. Here is how Washington assesses and taxes property.
What to expect at the closing table in Washington, from the instrument you sign to the taxes on transfer.
What it costs to form and keep an LLC in good standing with the Washington Secretary of State.
Run through these Washington rules before you write an offer on a rental.
Documents: contract, lease or rent schedule, bank statements, LLC papers, insurance quote. No tax returns. Details.
Washington is highlighted. We also lend DSCR in Alaska, Montana and Hawaii next door, and in 30 more states. Tap a gold state to open its guide.
Straight answers for investors buying or refinancing rentals in Washington.
PMG guidelines summarized; subject to program terms, property and borrower eligibility. Not a commitment to lend.
Book a free callInvesting across state lines? We lend DSCR in these neighbors of Washington too.
Primary sources, each with the date checked. PMG program facts come from Pillar Mortgage Group.
Send the Washington property and rent. We run the ratio and lay out terms before you offer.
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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