Deephaven Mortgage Review 2026: DSCR Loans via Brokers

At a glance

Deephaven Mortgage

Verified November 3, 2026

Loan amounts: Up to $3,000,000 (DSCR, 1-4 units); up to $2,500,000 (DSCR 5-9 units); DSCR second lien $75,000 to $500,000

Lender type: Wholesale (broker-only)
Min. credit score: 640 on its wholesale programs page; 660 on its homepage (DSCR, 1-4 units)
Max LTV: 80%, cash-out included (1-4 units); 75% (5-9 units)
Terms: Interest-only options listed; fixed/ARM terms and prepayment penalties not published
Properties: 1-4 units, rural up to 10 acres, 5-9 unit buildings; short-term rentals not addressed on the program page
States: Lists all 50 states and DC; its site takes no New York applications; some programs not in all states

Public reviews

No public review data on file yet.

Where our review info comes from

Pros

DSCR loans up to $3 million and 80% LTV, cash-out included
Separate DSCR program for 5 to 9 unit buildings, up to $2.5 million
DSCR HELOC and DSCR second lien for drawing equity from a rental
LLC vesting allowed; the DSCR HELOC also takes borrowers in their own name

Cons

No direct application; you need a broker or loan officer approved with Deephaven
No public rates, prepayment terms or minimum DSCR for the 1-4 unit loan
Its own pages list two credit floors for DSCR (640 and 660)
Two Trustpilot reviews (2.9 of 5) as of Nov. 3, 2026

This review covers Deephaven Mortgage LLC, the non-QM mortgage lender at 3530 Toringdon Way, Suite 300, in Charlotte, North Carolina (NMLS 958425). Its mission page says it was founded in 2012. Its DSCR loans qualify on the property's rent, and its product menu also includes Expanded-Prime and bank-statement loans.

You can't apply with Deephaven Mortgage yourself. It lends two ways: wholesale, through mortgage brokers, and correspondent, where it buys loans that other lenders close. Pages across its site say the material is for licensed mortgage professionals. Its mission page says it works with 1,000+ independent brokers and buys loans from 200+ correspondent partners. If you searched for Deephaven Mortgage reviews, Trustpilot showed two as of Nov. 3, 2026.

Getting a Deephaven DSCR loan through a broker

Start with a mortgage broker or loan officer and ask whether their company is approved with Deephaven. The broker submits your file through Deephaven's wholesale portal and prices it with its Wholesale FlexPricer. Brokers who aren't approved can apply through the "Become A Partner" link on its site.

If your loan officer works for a correspondent lender, your closing papers can name that lender, with Deephaven buying the loan afterward. Ask your loan officer which company funds the loan and which company will collect your payments.

Deephaven Mortgage DSCR loan programs

Deephaven's wholesale programs page lists four loans that qualify on rental cash flow. These are the published terms as of Nov. 3, 2026:

Program	Loan size	Credit	Max LTV/CLTV	Min DSCR	Other published terms
DSCR (1-4 units)	Up to $3,000,000; cash-out up to $1,000,000	Down to 640	80%, cash-out included	Not published	No income or employment documents; LLC vesting; interest-only options; 0-6 months seasoning options to use appraised value; rural up to 10 acres
DSCR 5-9 Unit	Up to $2,500,000	Down to 680	75%	Not published	6 months PITIA reserves; LLC vesting; interest-only options; seller concessions up to 3%
DSCR Second	$75,000 to $500,000	680	80% CLTV	1.0	Long-term rentals only; SFR, PUD, townhomes, 2-4 units; no reserves
DSCR HELOC	Up to $1,000,000 first lien; up to $500,000 second lien	700 to 720 by size and lien	65% to 70% CLTV	1.1	No reserves; borrowers in their own name or an LLC; property list reads "SFR, PUD, townhomes, condos 2-4 units and rural"

The DSCR HELOC page breaks the credit tiers out. Lines of $500,000 or less need a 700 score in first position or 720 in second position, both at 70% CLTV. Lines over $500,000 need 720, go in first position only, and stop at 65% CLTV. You can draw, repay and draw again during the draw period. The page doesn't give the draw length, repayment terms or rate index.

Terms Deephaven leaves out

The site doesn't publish a minimum DSCR for the core 1-4 unit loan, fixed or ARM terms, or prepayment penalties. Its broker resources page lists an "Operational Prepayment Penalty Matrix" and DSCR matrices, but those sit in the broker portal. The same resources page lists a short-term rental marketing flyer, and the DSCR program page doesn't state STR rules.

The two pages disagree on credit. The homepage lists DSCR "credit score down to 660." The wholesale programs page lists "down to 640." Have your broker confirm the floor on the current matrix.

Deephaven announced an expanded foreign national DSCR program in a December 2021 press release. The current programs page doesn't list it.

The programs page also lists an "Anchor Loans X Deephaven" offering for fix-and-flip, bridge and construction loans up to four units. It gives no terms for those loans and links out to Anchor Loans.

Pretium owns Deephaven

Deephaven's mission page says Pretium, an investment manager focused on real estate, mortgage finance and corporate debt, owns the company. Pretium agreed to buy Deephaven from Värde Partners in an announcement dated June 18, 2019. Deephaven had partnered with Värde in 2014, and the release said Deephaven had invested in over $4 billion of non-QM loans over the prior five years. The parties didn't disclose terms.

John Keratsis is president and CEO, per Deephaven's homepage.

How many DSCR loans Deephaven closes

A May 5, 2026 press release from Lightning Docs, a loan-document software vendor, says Deephaven closes more than 300 DSCR loans per month on its system. The same release says Deephaven closed 16 DSCR loans on that system in May 2023. These numbers come from the vendor's release. Deephaven's own pages publish no volume figures.

KBRA's March 24, 2026 release rates a bond deal carrying Deephaven's name, Deephaven Residential Mortgage Trust 2026-INV2. KBRA describes 1,130 loans secured by first liens on non-owner-occupied investor properties. Of those loans, 99.4% carry fixed rates, and the weighted-average original LTV is 71.2%. KBRA says every loan is business-purpose and exempt from the federal ability-to-repay rule. The release page doesn't name the originator.

What a Deephaven DSCR loan costs

Deephaven publishes no rates, points or fees for borrowers. Brokers price loans inside its FlexPricer tool, and the DSCR HELOC page says program terms and rates change without notice. Get the broker's compensation in writing with your quote, and line that quote up with quotes from other DSCR lenders on the same day.

Deephaven Mortgage reviews

Borrowers have left almost no public reviews of Deephaven. On Nov. 3, 2026, Trustpilot listed Deephaven at 2.9 out of 5 from 2 reviews, with a note that Deephaven hasn't invited customers to review it. The review excerpts we saw describe a loan that took more than four months, trouble reaching a person, and a loan cancelled days before closing.

We found no Better Business Bureau profile for Deephaven in search results. Its homepage links to a Google review page, but we couldn't confirm a current Google rating or count.

Because you deal with your broker day to day, read your broker's reviews too.

Regulatory record and licenses

A search for consent orders, lawsuits, settlements and cease-and-desist orders naming Deephaven Mortgage returned none on Nov. 3, 2026. Deephaven's disclosures page lists state licenses including the California Residential Mortgage Lending Act (41DBO-56715), an Arizona mortgage banker license and a Washington consumer loan company license. That page says its site isn't authorized by the New York Department of Financial Services and can't take New York applications. You can look up NMLS 958425 on NMLS Consumer Access.

Which rental borrowers Deephaven's programs match

The published terms line up with these investors:

You have a broker and want a 1-4 unit rental loan up to $3 million, closing in an LLC.
You own a 5 to 9 unit building and need up to $2.5 million at 75% LTV.
You own a rental with a 1.1 DSCR or better and want a credit line against it, in your own name or an LLC.
You want a second lien on a long-term rental while keeping your first mortgage in place.

Deephaven's programs page doesn't cover buildings with 10 or more units. It offers no online application or public rate sheet for borrowers. Its site says it can't take New York applications, so a New York investor should ask the broker whether Deephaven will fund the loan.

Deephaven Mortgage FAQ

Is Deephaven Mortgage legit?

Deephaven Mortgage LLC is a licensed non-QM lender in Charlotte, North Carolina, founded in 2012 and owned by Pretium. Its NMLS number is 958425, and its disclosures page lists its state licenses.

Can I apply with Deephaven Mortgage directly?

No. Deephaven lends through mortgage brokers and buys loans from correspondent lenders. Its site says its material is for licensed mortgage professionals. Ask a broker whether they're approved with Deephaven.

Does Deephaven Mortgage do DSCR loans?

Yes. It lists a DSCR loan for 1-4 units up to $3 million and 80% LTV, a 5-9 unit DSCR loan, a DSCR second lien and a DSCR HELOC.

What credit score does Deephaven need for a DSCR loan?

Its pages list 640 and 660 for the 1-4 unit DSCR loan, 680 for the 5-9 unit and second-lien loans, and 700 to 720 for the DSCR HELOC.

Who services my Deephaven loan?

Deephaven's customer service page doesn't name a servicer. Your monthly statement, closing documents or any servicing transfer notice names the company that collects your payments.

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