Buying or refinancing a 5–8 unit apartment building or a small mixed-use property? These residential-style DSCR programs qualify on the property's rents, not your tax returns, with a true 30-year fixed option and no balloon. Here's what each program requires, side by side.
| Guideline | TRU-A5–8 unit residential · updated 09/08/26 | TRU-B5–8 unit residential · updated 09/12/26 | TRU-CMixed use 2–8 units · updated 09/12/26 |
|---|---|---|---|
| Property | 5–8 unit residential | 5–8 unit residential | 2–8 unit mixed use: apartments plus retail, office or restaurant |
| Max LTV (purchase) | 75% | 75% | 75% |
| Minimum credit score | 680 | 700 | 720 |
| Loan amount | $350K–$3M | $400K–$3M | $400K–$2M |
| Minimum DSCR | 1.00 | 1.00 | 1.00 |
| Terms | 15-year fixed, 30-year fixed, 30-year fixed with 10-year interest-only | 30-year fixed, 5/6 and 7/6 ARM, 10-year interest-only option | 30-year fixed, 5/6 and 7/6 ARM, 10-year interest-only option |
| Prepayment penalty | Varies by state | 1–5 years, 5% fixed | 1–5 years, 5% fixed |
| Reserves | 6 months PITIA (9 months over $1.5M); cash-out can't count | 6 months PITIA (9 months over $1.5M); cash-out can't count | 6 months PITIA (9 months over $1.5M); cash-out can't count |
| Gift funds | Not allowed | Not allowed | Not allowed |
| Seller carryback / second mortgage | Ask us, confirmed case by case | Not allowed | Not allowed |
| Seller credits | Up to 3% | Up to 6%, closing costs only | Up to 6%, closing costs only |
| Asset seasoning | 30 days | 30 days | 30 days |
| Investor experience | Owned and managed a rental for 1 year within the last 3 years (one borrower is enough); first-time investors not eligible | Owned and managed a rental for 1 year within the last 3 years; first-time investors not eligible | Owned and managed a rental for 1 year within the last 3 years; first-time investors not eligible |
| Commercial space | Not allowed | Not allowed | Under 50% of the building; 2–3 units max 1 commercial, 4–5 max 2, 6–8 max 3; no vacant commercial space |
| Illinois properties | Eligible | Not eligible | Not eligible |
| Other location limits | Baltimore City, MD (temporary) | Baltimore City, MD; Philadelphia County, PA. CT and NJ: 720 credit score, 70% LTV purchase / 65% refinance | Baltimore City, MD; Philadelphia County, PA. CT and NJ: 720 credit score, 70% LTV purchase / 65% refinance |
| Rural property | Not eligible; 2 acres max | Not eligible; 2 acres max | Not eligible; 2 acres max |
| Vacant units | Up to 2, counted at 75% of market rent | Up to 2, counted at 75% of market rent | Up to 2, counted at 75% of market rent |
| Short-term rental income | Not allowed | Not allowed | Not allowed |
| Rate | Priced daily, request a quote | Priced daily, request a quote | Priced daily, request a quote |
Buying in Chicago or anywhere in Illinois? TRU-A is the program that lends on Illinois 5–8 unit buildings. Prepayment penalties in Illinois depend on how you take title (an LLC works), and Cook County also requires a loan over $250,000 for a prepay option.
DSCR stands for debt service coverage ratio: the building's monthly rent divided by the full monthly payment (principal, interest, taxes, insurance and any association dues). A 1.00 DSCR means the rent covers the payment. Every program here requires at least 1.00, so a building renting for $14,500 a month can carry a payment up to $14,500.
At least 25% on a purchase (75% max LTV), plus closing costs and 6 months of payments in reserve (9 months on loans over $1.5 million).
Not on these 5–8 unit programs. At least one borrower needs to have owned and managed a rental property for 1 year within the last 3 years. First-time investors should ask us about 1–4 unit options instead.
TRU-B and TRU-C don't allow secondary financing. On TRU-A it's reviewed case by case, so ask us before you write it into an offer.
Up to 2 vacant units can be counted at 75% of market rent. Short-term (Airbnb-style) rental income isn't allowed on these programs.
Yes, through TRU-C, as long as the commercial space is under 50% of the building and occupied. Illinois mixed-use properties aren't eligible on TRU-C.
Enter the price, rents, credit score and state. The Program Match tool checks your building against all three programs and tells you exactly why one does or doesn't fit.
Dan Frio | NMLS #246527 | PBT Bancorp | NMLS #257781. Mortgage products are originated by PBT Bancorp, NMLS #257781, 524 Main St, Hazard, KY 41701. Guidelines shown are summaries of current investor program guidelines as of the dates listed and are subject to change without notice. Program availability depends on the property's state and location. This is not a loan approval, commitment or offer; all loans are subject to credit, property and underwriting approval.
