Deephaven Mortgage for South Dakota investors
Deephaven Mortgage is a broker-only DSCR lender with a 660 minimum credit score and a firm 1.00 minimum DSCR. Maximum loan size is $2,000,000, with maximum LTV of 80% on purchase/rate-term and 70% on cash-out refinance. The company does not publish minimum loan size, rate, or state-coverage figures in the sources reviewed.
South Dakota context
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore).
How Deephaven Mortgage positions in South Dakota
For South Dakota specifically, Deephaven Mortgage fits investors who match the hard money approach. The medium cash flow profile of South Dakota aggregate makes it workable for Deephaven Mortgage.
City-level coverage in South Dakota
Deephaven Mortgage provides DSCR coverage across South Dakota metros including Sioux Falls, Rapid City, and South Dakota. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Deephaven Mortgage program terms apply uniformly across South Dakota metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | rental DSCR |
| Loan size | — - $2.0M |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 80% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| South Dakota property tax | 1.2% |
| South Dakota state income tax | None |
Deephaven Mortgage strengths in South Dakota
- 1.00 minimum DSCR
- Broker-only origination
- Maximum loan size $2,000,000
- 70% LTV on cash-out refinance
Ideal borrower: Broker-originated borrower with a fully qualifying 1.00+ DSCR.
FAQ
Likely; verify direct South Dakota coverage. Deephaven Mortgage is based in an undisclosed location and operates in states not publicly disclosed.
Sioux Falls is the top investor market in South Dakota and is generally within Deephaven Mortgage states not publicly disclosed footprint. Sioux Falls property tax follows the South Dakota state rate of 1.2 percent. Deephaven Mortgage typically underwrites Sioux Falls acquisitions at standard rate sheets.
Yes. Rapid City ranks among the larger South Dakota investor metros and sees consistent DSCR loan volume from Deephaven Mortgage. Submarket variation within Rapid City matters for property selection.
Deephaven Mortgage applies the same rate sheet across South Dakota metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Sioux Falls, Rapid City, and South Dakota all qualify for the same Deephaven Mortgage program.
Deephaven Mortgage does not publish a rate sheet. Pricing is quoted per deal and depends on credit, leverage, coverage ratio and experience.
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore). Deephaven Mortgage follows standard business-purpose loan structures.
Deephaven Mortgage funds rental DSCR in South Dakota.
South Dakota allows standard DSCR prepay structures; Deephaven Mortgage typically uses 3-5 year step down.
Deephaven Mortgage typical close: Not publicly published.
Bottom line
For South Dakota DSCR borrowers, Deephaven Mortgage is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Deephaven Mortgage.