Take the Next
Step Today
Prefer to speak with someone? Call us at (702) 766-3744
By David Ghazaryan, NMLS 1486726 · iQRATE Mortgages, Company NMLS 1862492 · Updated November 12, 2026
Short answer: a portfolio loan is an investor mortgage built around the property and the whole deal, not a one-size-fits-all agency checklist. For Lewisville TX rental buyers, iQRATE Mortgages is a mortgage broker. We shop investor programs from third-party lenders: rental-income (DSCR) loans, bank statement loans, jumbo loans, and multi-property structures. Availability, pricing and terms vary by lender and by property, and nothing here is a commitment to lend. To start, apply online or call (702) 766-3744.
The term is used loosely. In practice, investors use it for three things:
The general program page is at iQRATE portfolio loans. This page covers what matters for Lewisville-area rentals.
These figures come from the U.S. Census Bureau. See QuickFacts for Lewisville city, Texas. Population is a July 2025 estimate. The other figures are 2020-2024 five-year estimates.
| Census measure | Lewisville city, TX | How an investor can use it |
|---|---|---|
| Population, July 1, 2025 | 139,006 | City-wide context for the size of the market |
| Growth, April 2020 base to July 2025 | 10.6% | Population change only. It is not a rent or occupancy measure. |
| Households | 51,915 | The count of occupied housing units that Census measured |
| Owner-occupied housing unit rate | 46.3% | The share of housing units that are owner-occupied, as Census reports it |
| Median gross rent | $1,670 | A city-wide benchmark to compare with the rent on a specific lease |
| Median value, owner-occupied homes | $378,500 | A city-wide benchmark for purchase size |
| Median household income | $89,233 | City-wide income context |
Medians are city-wide. They are not a forecast for any one address. Your lender will use the actual lease or a market rent opinion for the property you are buying.
Same Census QuickFacts table, same vintages as above (2020-2024 five-year estimates unless noted).
| Census measure | Lewisville city, TX |
|---|---|
| Population, April 1, 2020 Census | 111,822 |
| Population, April 1, 2010 Census | 95,290 |
| Population estimates base, April 1, 2020 | 125,664 |
| Persons per household | 2.52 |
| Median selected monthly owner costs, with a mortgage | $2,411 |
| Median selected monthly owner costs, without a mortgage | $883 |
| Per capita income, 2024 dollars | $46,697 |
| Persons in poverty | 7.9% |
| In civilian labor force, age 16+ (a tenant-employment context) | 75.9% |
| Mean travel time to work (a commuting context) | 24.6 minutes |
| Bachelor's degree or higher, age 25+ (an income-profile context) | 40.7% |
| High school graduate or higher, age 25+ | 90.4% |
| Veterans | 5,313 |
| Households with a computer | 98.6% |
| Households with a broadband Internet subscription | 96.4% |
| Foreign-born persons | 23.0% |
| Persons under 5 years | 6.6% |
| Total retail sales per capita, 2022 | $25,385 |
| Persons 65 and over | 9.9% |
| Persons under 18 | 23.1% |
| Population per square mile, 2010 | 2,618.0 |
| Land area, 2010 | 36.40 square miles |
| Land area, 2020 | 37.01 square miles |
| Population per square mile, 2020 | 3,021.6 |
| Living in the same house 1 year ago | 83.1% of persons age 1+ |
These are descriptive city-wide statistics, not rent or demand forecasts. For a rental buyer, the owner-cost rows are a reminder that carrying costs differ a lot between owners with and without a mortgage, and the same-house row is a rough signal of how mobile the population is, which bears on tenant turnover.
For the Texas-wide rental-income program, see Texas DSCR loans.
| Your situation | Program to ask about | What the lender mainly looks at |
|---|---|---|
| A single rental where the rent should carry the loan | DSCR loans | Rent versus the property's carrying costs, plus credit and assets |
| Self-employed, with write-offs that hide income | Bank statement loans | Deposits over a stated period instead of tax-return income |
| A larger purchase above standard conforming size | Jumbo loans | Reserves, credit, documented income or assets |
| Building a growing portfolio over several years | Serial investor loans | Entity structure, reserves across properties, repeatable process |
| Not sure which fits | Investor overview | We compare options for the deal in front of you |
DSCR stands for debt service coverage ratio. The lender compares the rent the property can earn to the property's monthly obligations. That is principal, interest, taxes, insurance and any association dues. A ratio near or above 1.00 generally means the rent covers the obligations. Each lender sets its own minimum, and a ratio below that can still be possible with other compensating factors.
This is why many investors choose it. Your personal debt-to-income ratio is usually not the main test. The property's cash flow is. We have not put a payment or ratio example on this page, because the figures depend on the lender, the property and your file.
Enter your own two figures from a lease and a carrying-cost estimate. This is simple division only. It uses no interest rates, quotes no payment and does not approve or pre-qualify anything. Each lender sets its own rules.
These facts come from iQRATE's own pages, including serial investor loans, and the program pages linked above, and from David's own account.
| Fact | Figure | Source |
|---|---|---|
| Year David entered the mortgage industry | 2005 | iQRATE serial investor page |
| Year David founded a tax practice | 2008 | iQRATE serial investor page |
| Tax returns David's practice has prepared | More than 6,000 | iQRATE serial investor page |
| States where iQRATE is licensed | 4: Nevada, California, Texas and Florida | iQRATE portfolio loans page |
| Google rating and review count | 5.0 across 77 reviews | Google reviews of iQRATE Mortgages |
| Zillow rating and review count | 5.00 across 9 reviews | Zillow lender profile of iQRATE Mortgages |
| Yelp rating and review count | 5.0 across 51 reviews | Yelp business page of iQRATE Mortgages |
| Time to close on the builder-denial deal below | Under 3 weeks | David's account |
The tax background matters for investors. David reads a rental the way an owner and a tax preparer do: rent first, then the full tax bill, insurance and association dues, then the loan. He is also a real estate investor himself.
This account comes from David's own work and is from a different market, Las Vegas, Nevada. A buyer's financing on a brand-new investment property fell apart. The builder had offered generous incentives, but only if she applied through the builder's preferred lender. She did so. That lender then denied her loan.
She had met the builder's requirement to apply through its channel, so the builder agreed to honor the incentives if she found outside financing. iQRATE arranged a DSCR mortgage based on the property's rental income. The builder incentives went toward a rate buydown. The loan closed in under three weeks.
David's takeaway: a denial does not always end the deal. Read the purchase contract. Protect your negotiating position. Then choose the financing program that fits the investment. Results depend on each file and are never guaranteed.
In David's own words about that Las Vegas file:
"She did exactly what the builder asked. She submitted the application, cooperated with the process, and provided the documentation."
David Ghazaryan, iQRATE Mortgages
"Then the builder's lender denied her loan. Normally, that creates two problems. The buyer loses her financing, and switching lenders can mean losing the builder's incentives."
David Ghazaryan, iQRATE Mortgages
"We arranged a DSCR mortgage using the property's rental income rather than relying on a traditional personal debt-to-income calculation."
David Ghazaryan, iQRATE Mortgages
"A client came to us after the financing on her brand-new Las Vegas investment property fell apart."
David Ghazaryan, iQRATE Mortgages
"We applied the builder incentives toward a rate buydown, helping secure more favorable financing terms."
David Ghazaryan, iQRATE Mortgages
David describes the resulting DSCR mortgage as having a debt-service coverage ratio of approximately 1.00. On timing, he says:
"We closed in less than three weeks."
David Ghazaryan, iQRATE Mortgages
"The client got the newly built rental property, kept the negotiated builder incentives, and obtained financing even though the builder's own lending channel had declined her."
David Ghazaryan, iQRATE Mortgages
"The lesson I took from that transaction is that a lender's denial doesn't necessarily mean a good investment opportunity is dead. Sometimes the solution is understanding the purchase contract, preserving the buyer's negotiating position, and choosing a financing program that fits the actual investment."
David Ghazaryan, iQRATE Mortgages
This is David's own first-person statement, as published on iQRATE's portfolio loans page:
"I invest in real estate myself, so I look at a growing portfolio the way an owner does: cash flow, reserves and your exit plan. The right loan for your fourth rental is often not the right loan for your eleventh. My job is to run each purchase or refinance through the options that fit and tell you plainly when a deal doesn't pencil."
David Ghazaryan, iQRATE Mortgages
Getting approved and making a good investment are two different things. David says it this way:
"One thing being a real estate investor has taught me is that getting a loan approved and making a good investment are two different things. I've seen investors spend weeks negotiating a purchase price and then barely examine the financing terms. They focus on the interest rate. I look at the entire transaction: cash invested, monthly carrying costs, reserves, prepayment penalties, and the exit strategy."
David Ghazaryan, iQRATE Mortgages
"A loan that saves you money today can become expensive if you need to refinance or sell before a prepayment penalty expires. That's why I approach an investor's mortgage differently from a typical home purchase. I'm interested in whether the financing supports the investment strategy, not simply whether a lender will approve it."
David Ghazaryan, iQRATE Mortgages
Before you sign, review the whole transaction:
| Fact | Figure | Source |
|---|---|---|
| Financed properties allowed for an investment loan run through Desktop Underwriter | Up to 10 | Fannie Mae Selling Guide B2-2-03 (linked above); also stated on the iQRATE portfolio loans page |
| How a 2-4 unit building counts toward that limit | As one property | iQRATE portfolio loans page |
| Does your own mortgaged home count toward the limit? | Yes | iQRATE portfolio loans page |
| Texas state income tax and transfer tax | None of either. High property taxes reduce rent coverage on DSCR loans. | iQRATE portfolio loans page |
| States where iQRATE arranges DSCR loans for investment property | 4 | iQRATE serial investor page |
| Borrower type under Fannie Mae's investment-property rules | A natural person, not an LLC | iQRATE serial investor page |
Past the agency limit, investors usually move to DSCR or portfolio financing, per our portfolio loans page. Each lender sets its own rules.
Term sheets for investor loans use vocabulary that agency borrowers rarely see. Here is what each term generally means. Specifics vary by lender and program, and we do not state numbers here because they depend on your file.
| Term | What it generally means |
|---|---|
| Loan-to-value (LTV) | The loan amount compared with the property's value. Lenders cap it by program, property type and purpose. |
| Debt service coverage ratio (DSCR) | Rent compared with the property's monthly obligations. |
| Prepayment penalty | A charge, set in the loan documents, if you pay the loan off early. It is often tied to a stated period. |
| Reserves | Liquid assets left after closing. Lenders may ask for more as the property count grows. |
| Interest-only option | A structure some programs offer where early payments cover interest only. It changes the payment and the balance path. |
| Fixed or adjustable rate | Whether the rate stays the same or can reset. Ask which a program uses and when it can change. |
| Blanket loan | One loan that covers several rentals under a single note. Availability varies by lender. |
| Own-portfolio loan | A loan a lender keeps under its own guidelines instead of following Fannie Mae and Freddie Mac rules. |
| Natural-person rule | Agency programs require an individual borrower, not an LLC. Non-agency programs may differ. |
| Non-owner-occupied property | A property you will not live in. DSCR and portfolio loans are for this kind of business-purpose property only. |
| Rate buydown | Money applied up front to lower a loan's rate. Terms depend on the lender and the file. |
| Cash-out refinance | A new loan that pays off the old one and returns some equity as cash. |
| Seasoning | How long you have owned a property before a lender will treat it as owned for cash-out purposes. Rules differ by lender. |
| Market rent opinion | An appraiser's estimate of rent for a vacant or newly leased property. |
| Vesting or entity borrower | How title is held, such as personally or in an LLC. Programs differ on what they allow. |
| Debt-to-income ratio (DTI) | Monthly debts compared with monthly income. Many rental-income programs lean on the property's rent instead. |
| Down payment | The part of the price you pay from your own funds. It varies by lender, program and property, and we do not state a figure here. |
| Closing costs | Lender, title, appraisal and recording charges due at closing. They vary by file, and the lender's disclosures show them. |
| Points and origination charges | Charges some lenders add for making the loan. Ask for them in writing. |
| Rate lock | A lender's commitment to hold a quoted rate for a period. Whether and how long depends on the lender. |
| Loan term and amortization | The term is how long the loan runs. Amortization is how payments pay down the balance over time. |
| Cross-collateralization | Using more than one property as security for the same loan, as in a blanket structure. |
| Credit score | A score used in program eligibility and pricing. Minimums differ by lender. |
| Net operating income (NOI) | Rent less operating expenses, before loan payments. Some lenders look at it alongside coverage ratios. |
| Appraisal or valuation | The lender's estimate of value, used with its loan-to-value cap. |
| Underwriting conditions | Items a lender needs cleared before closing, such as documents, reserves or insurance. |
| Business-purpose loan | A loan for investment, not personal, family or household use. Federal consumer-credit rules treat it differently. |
Property taxes sit inside the carrying costs a lender counts. The Texas Comptroller explains how property is valued for tax purposes. Because the tax bill can change as a property's appraised value changes, we ask you to confirm the current tax figure for any Lewisville-area property before you rely on a rent-versus-cost estimate.
Many investors hold rentals in an entity. Lender rules on entity borrowers vary by program, so confirm early. Loans made for business or investment purposes are treated differently under federal consumer-credit rules. The CFPB's Regulation Z, section 1026.3 lists the exemptions. Talk with your attorney and tax adviser about the structure that suits you. iQRATE does not give legal or tax advice.
A cash-out refinance turns equity into cash for the next purchase. Agency rules for this are in Fannie Mae's cash-out refinance transactions section, and the general borrower eligibility requirements apply to agency loans. Non-agency investor programs set their own rules. We compare both paths for your property.
| Item | When it is used |
|---|---|
| Purchase contract or current mortgage statement | Every purchase or refinance |
| Lease, or a market rent opinion if vacant | Rental-income (DSCR) loans |
| Bank statements for the period the lender specifies | Bank statement loans |
| Entity documents, if buying through an LLC | Entity-held rentals |
| Asset statements showing reserves | Most investor programs |
| Insurance quote and tax information for the property | Carrying-cost calculation |
They are investor mortgages underwritten on the property and the deal rather than a standard agency checklist. Common versions include rental-income (DSCR), bank statement and jumbo loans. Terms vary by lender, and this is not a commitment to lend.
No. iQRATE Mortgages is a mortgage broker. We help you compare programs from third-party lenders. The lender you choose makes the credit decision.
Rental-income programs focus mainly on the property's rent compared with its costs. Lenders may still review credit and assets. Requirements differ by lender.
Agency programs have rules on multiple financed properties, which are published in the Fannie Mae Selling Guide. Many investors with growing portfolios compare non-agency options. Our serial investor page, linked above, covers that path.
Yes, ask about them before you choose a program. If you may sell or refinance soon, the penalty schedule can matter more than a small difference in pricing.
Often yes, but each program has its own entity rules. Confirm with us early and consult your attorney and tax adviser.
Not exactly. "Portfolio loan" is a broad label for non-agency investor financing. A DSCR loan is one common type, qualified mainly on the property's rent. Bank statement and jumbo loans can also fall under the label.
That is common for self-employed investors. A bank statement program looks at deposits over a period the lender sets, and a rental-income program looks at the property's rent. David reads a portfolio the way an owner and a tax preparer do, but approval is never guaranteed.
It depends on the lender and the program. Some programs may look at a market rent opinion for a vacant property, while others may require a lease. Ask before you make an offer.
Yes, many investors refinance to restructure or take cash out. Compare the prepayment terms on your current loan and the new one first. Seasoning and cash-out rules differ by lender.
Not always. In the Las Vegas account above, a builder's lender declined the buyer, and a DSCR loan from another source let the deal close. Every file is different, and results are not guaranteed.
Start with your exit plan. If you expect to hold a long time, ask how a program handles rate changes. If you may sell or refinance sooner, ask how prepayment terms interact with that timeline. We lay out the trade-offs for each program we compare.
Before. Knowing which programs fit your property type, entity and reserves helps you write an offer you can close. We can review your plan before you are under contract.
No. We explain loan programs. Talk with your own attorney and tax adviser about entity choice, deductions and tax consequences.
Search the NMLS Consumer Access site. Our numbers are Company NMLS 1862492 and David Ghazaryan NMLS 1486726.
People use "portfolio loan" for two things: a loan the lender keeps under its own guidelines, and a blanket loan that covers several rentals under one note. Whether a blanket structure is available depends on the lender.
No. It is an agency rule. Non-agency investor programs set their own rules, and each lender decides what it will finance.
No. DSCR and portfolio loans are business-purpose loans for non-owner-occupied investment property.
Yes. Texas has no state income tax or transfer tax, but high property taxes reduce rent coverage on DSCR loans. Confirm the current tax figure for the property you are buying.
For the agency financed-property limit, our portfolio loans page says a 2-4 unit building counts as one property, and your own home counts if it has a mortgage.
In his words, he looks at the entire transaction: cash invested, monthly carrying costs, reserves, prepayment penalties and the exit strategy.
These are verbatim reviews of iQRATE Mortgages, left by clients company-wide in other markets. Read all of them on our reviews page.
"Andrei and David were so great! They're helpful and communicated everything with me through the whole process. I am so pleased and look forward to using iqrate for my future investment properties. 10/10 Will be reccomending to friends."
Kassandra Arthur, Google review, company-wide, other market
"David handled the purchase of my investment duplex in Olympia - Washington State. He came recommended by my realtor, and was very attentive, closed on time, and communicated clearly."
Nnamdi Chima, Zillow review, company-wide, other market (Washington State)
"Very efficient and transparent service. They go above and beyond to deliver the loan closure on time even in a very tight time line. Also very resourceful and knowledgeable staff. I'll go to them again next time I need a loan."
Rita S., Yelp review, company-wide, other market
"The team at iQRate Mortgages is experienced, thorough, and professional. They are also very personable and are there to walk you through the process step by step. I highly recommend iQRate Mortgages for a seamless processing of your Mortgage loan. My experience with them was very good. I have also been a client of David's for a couple of decades. I have always had a wonderful customer service experience."
shawnda urquidi, Google review, company-wide, other market
"David was very professional and went above and beyond to make sure I understand the loan procedure. In addition, he went with me to my closing because I expressed that I would be more comfortable with him there to explain the documents to me. He was there and ensured a smooth transaction. Everything completed as expected. I would definitely recommend him to my friends and family."
Jasmin from Las Vegas, NV, Zillow review, company-wide, other market
"Thank you Andrei and David again for being professional and very patient. They both helped my brother to buy a house in time. They know what they're doing. We're glad that we choose iQRate Mortgage."
ศิวกร น., Yelp review, company-wide, other market (Colorado)
Ready to compare options? Apply now, call (702) 766-3744, or contact us. Learn more about iQRATE.
iQRATE Mortgages, Company NMLS 1862492. David Ghazaryan, NMLS 1486726. Phone (702) 766-3744. Equal Housing Opportunity. iQRATE Mortgages is a mortgage broker, not a lender. This page is general information, not a commitment to lend, and is not legal or tax advice. Programs, terms and availability vary by lender and property and are subject to underwriting approval. Census figures are from the U.S. Census Bureau as cited above.
