2024 · California
In 2024, 42,942 investment-property loans worth $26.9B were originated on single-family 1-4 unit homes in California. Here's how those terms compared to the rest of the country.
Investor rate premium
88 bps
U.S. median: 88 bps
Denial rate
18.4%
U.S. median: 17.2%
DSCR / business-purpose
71%
U.S. median: 69%
Median LTV
69%
U.S. median: 75%
Investors in California borrowed at a median rate of 7.5%, versus 6.625% for owner-occupants — a 88 bps premium that ranks 25th of 51 states.
Their applications were denied 18.4% of the time. The leading reasons for denial were debt-to-income ratio, collateral, other.
71% of investor loans were business- or commercial-purpose — the category that includes DSCR and LLC-held loans — and 25% were cash-out refinances. The typical loan-to-value was 69%, implying about 31% down.
In 2024, the median investment-property loan in California carried a rate of 7.5% versus 6.625% for an owner-occupant — a premium of 88 bps. That ranks 25th of 51 states (1 = highest premium).
18.4% of investment-property applications were denied in California in 2024, the 18th-highest denial rate among the 51 states. The most common denial reasons were debt-to-income ratio, collateral, other.
71% of investor loans in California were flagged as primarily business or commercial purpose — the bucket that includes DSCR and LLC-held loans (21st of 51). The median loan-to-value was 69%.
Source: CFPB / FFIEC HMDA Data Browser (loan-level public dataset), 2024. Single-family 1-4 unit, site-built loans; financed purchases only.