Conventional Investment in St. Louis

Yes. The program funds non-owner-occupied 1-4 unit property, and in the City of St. Louis that unit range is the standard deal, not the exception. FFIEC HMDA data puts city 2-4 unit originations at 692 in 2023, or 15.3% of the city's 1-4 family lending, against just 1.6% in St. Louis County and roughly nine and a half times the county's share. A documented buy-and-hold investor buying a city fourplex is buying the market's ordinary product, and conventional financing at up to 80% LTV applies the same way it would to a single-family purchase.

Usually not on its own, and the covenant matters more than the price. The LRA holds roughly 9,000 city properties, about 85% vacant lots and 15% vacant buildings, and its Prop NS track sells vacant residential buildings of six units or fewer on the condition the buyer completes rehab to city occupancy standards within 24 months. That is a rehab-and-carry problem before it is a permanent-financing problem, and it usually sits below the loan size where full-documentation conventional financing is the efficient tool. Tell us the acquisition price and the rehab scope; if the numbers point to a smaller loan than conventional supports well, our fix and flip or DSCR programs are usually the better starting point, with a conventional refinance once the building is stabilized and reassessed.

Rarely, on the numbers we can source. 2023 HMDA data puts the average 1-4 family mortgage at $270,525 in the City of St. Louis and $252,727 in St. Louis County; 2024 brought the city average down to $240,270 even as loan count rose, while the county average rose slightly to $259,978. We do not quote a conforming loan limit here, because we could not confirm a current figure for either jurisdiction. If you're underwriting a purchase in a higher-priced pocket of the county, send us the price and we'll tell you plainly whether it lands inside standard conforming or needs a different structure.

It changes the price point of the typical file, not the documentation. City originations rose from 4,670 loans in 2023 to 5,006 in 2024 while the average ticket fell from $270,525 to $240,270, which is what an entry-price and rehab-driven market looks like as more of the volume runs through the lower-cost tier. Conventional financing works the same way at either end of that range: full income documentation, credit from 580, up to 80% LTV. A lower-priced city purchase does not need a different program, just the same complete file.

When your personal income documents well and you want the lowest long-term cost, not when the property's rent has to carry the file on its own. Conventional is often the lowest-cost option for a long-term hold when your file fits the box, in exchange for full documentation of income and assets. St. Louis's 2-4 unit stock qualifies the same way a single-family rental does, so a documented investor buying inside that range doesn't need to default to DSCR just because the building has more than one door. If the deal is held inside an LLC and priced purely on rent, or your returns understate what you actually earn, DSCR or our bank statement program skip the personal income test entirely. Subject to underwriting.

580 is the credit floor, and 20% down at the maximum 80% LTV. The 2023 HMDA average mortgage was $270,525 in the City of St. Louis and $252,727 in St. Louis County, so take a $270,000 city purchase as the illustration: 80% LTV puts $216,000 on our side and $54,000 from you (270,000 x 80% = 216,000). On a $250,000 county purchase that split runs $200,000 and $50,000 (250,000 x 80% = 200,000). Weaker credit is generally handled with lower leverage rather than a decline. Send us the actual purchase price and we'll size it against the program. Subject to underwriting.

It is standard, competitively priced financing for a non-owner-occupied investment property, the long-term loan you take when your file fits the conventional box. It usually carries a lower rate than a bridge or DSCR loan, in exchange for full documentation.

A conventional loan qualifies on your documented personal income and credit, while a DSCR loan qualifies on the property's rent. Conventional pricing is often lower if you can document your income and you are within the limit on financed properties; DSCR is easier to scale and skips the income docs. We compare both and put you in the one that fits.

Plan on roughly 20% to 25% down on an investment-property purchase, with the best pricing at lower leverage and higher credit. Cash-out refinances are typically capped a bit lower than purchases.

Conventional investment financing generally wants a credit score around 580 or higher, and your rate improves meaningfully as your score and reserves go up. We will tell you up front where your file lands.

Purchases, rate-and-term refinances, and cash-out refinances on non-owner-occupied 1-4 unit investment property. If you will live in the property, that is owner-occupied financing, which we refer to a trusted partner rather than originate here.

Because it is fully documented, expect to provide income verification, tax returns, bank statements, and the standard conventional paperwork. If that documentation is a hurdle, our DSCR and bank-statement programs are the no-tax-return alternatives.