DSCR Loans in Clay County, Minnesota
Reviewed by Dominick Prevete, Founder & CEO, National Loan Provider31+ years in real estate finance
LinkedIn35 closed transactionsNLPI LLC, NJ entity ID 0451062247 (verify on the NJ business search)
In 2025 HMDA data, 39 lenders made 126 investment-property loans in Clay County, 2.1% of Minnesota's total. Dominick Prevete arranges DSCR loans across Clay County, Minnesota, qualified on the property's rent, not your tax returns. DSCR rental loans start from 7.25% (November 2026), and most close in 14 days. At HUD's fair market rent, a three-bedroom rental there covers its full payment up to a price of about $220,000.
Clay County investor market at a glance
| Statistic | Clay County | Minnesota | County rank |
|---|---|---|---|
| Investor loans | 126 | 5,990 | 9th of 13 |
| Reporting lenders | 39 | 406 | 12th of 13 |
| Loan volume | $25.5M | $1.51B | 12th of 13 |
| Average loan | $203K | $251K | 10th of 13 |
| Median loan | $170K | $215K | 10th of 13 |
| Purchases | 68.3% | 69.5% | 8th of 13 |
| Cash-out refinances | 3.2% | 9.0% | 13th of 13 |
| 2–4 unit properties | 21.4% | 17.8% | 5th of 13 |
| Top five lenders' share | 46.8% | 14.8% | 2nd of 13 |
| Reported business-purpose | 73.8% | 50.7% | 1st of 13 |
Clay County: closed-end loans on 1–4 unit investment properties. Clay County's rank is highest first, among Minnesota's counties with at least 100 investor loans and 25 reporting lenders. Shares are of Clay County's investor loans.
What stands out in Clay County
3.2% of Clay County's investor loans were cash-out refinances, the lowest share of Minnesota's 13 counties with published data (statewide: 9.0%).
When investors here do take cash out, the DSCR cash-out refinances Dominick arranges require no seasoning.
By share of investor loans reported as business-purpose, Clay County ranks highest of Minnesota's 13 counties with published data (statewide: 50.7%).
73.8% of investor loans here were reported as business-purpose, the only kind of financing Dominick arranges.
The five most active lenders wrote 46.8% of Clay County's investor loans, the 2nd-highest share of Minnesota's 13 counties with published data (statewide: 14.8%).
Five lenders write 46.8% of the loans here, so comparing written term sheets matters more.
Does a DSCR loan pencil in Clay County?
At HUD's fair market rent of $1,529 for a 3-bedroom in Clay County, Minnesota, a rental covers its full DSCR payment up to a purchase price of about $220,000, with 20% down at the 7.25% starting rate (November 2026). Clay County's median home value is $265,500; at that price the payment is $1,811 a month, so the property would need $1,825 in rent to cover it.
Coverage under 1.00 doesn't end the deal: the DSCR programs Dominick arranges go down to no-ratio, priced for the lower coverage, and a lower price or a larger down payment raises the ratio.
| HUD fair market rent, 2 / 3 / 4 bedroom (FY2027) | $1,104 / $1,529 / $1,845 |
|---|---|
| Median home value (2020–2024 ACS 5-year) | $265,500 |
| Median property taxes and effective rate | $3,013 (1.13% of value) |
| Monthly payment on the median-value home: P&I, taxes, insurance | $1,811 |
| Rent needed to cover that payment | $1,825 |
| Coverage of a 3-bedroom at fair market rent | 0.84 |
| Highest price a 3-bedroom at fair market rent covers | about $220,000 |
| Highest price two 2-bedroom units at fair market rent cover | about $320,000 |
Fair market rent is HUD's 40th-percentile gross rent, including utilities; a property's appraised market rent can be higher or lower. Payment uses 20% down, a 30-year amortization at the published DSCR starting rate, the county's median effective property-tax rate and insurance at 0.50% of value. Purchase leverage goes up to 85% on qualifying files. This is an illustration, not a term sheet or an offer of credit.
Price your actual deal →Run Clay County's numbers in the calculator below →
Who are the DSCR and investment-property lenders in Clay County?
The most active investment-property lenders in Clay County in 2025 HMDA data were Gate City Bank, First Western Bank & Trust and FIRST COMMUNITY CREDIT UNION, out of 39 lenders that reported. HMDA doesn't flag which loans were DSCR loans, so this list mixes DSCR and conventional investment-property lenders. Dominick Prevete places DSCR loans across 100+ lenders and matches each file to the one most likely to fund it.
Clay County's 2025 HMDA filings, closed-end loans on 1–4 unit investment properties only: 126 loans and $25.5M from 39 lenders. Gate City Bank led Clay County with 18 loans, 14.3% of the county's total, and the average Clay County loan of $203K compares with $251K across Minnesota.
| Lender | Loans | Volume | Avg loan | Purchase share |
|---|---|---|---|---|
| Gate City Bank | 18 | $2.5M | $139K | 22.2% |
| First Western Bank & Trust | 16 | $2.6M | $163K | 93.8% |
| FIRST COMMUNITY CREDIT UNION | 14 | $3.0M | $217K | 85.7% |
| Bell Bank | 6 | $0.8M | $137K | 66.7% |
| Choice Financial Group | 5 | $1.3M | $255K | 100.0% |
| Valley Premier Bank | 5 | $0.7M | $145K | 80.0% |
| Northwestern Bank, National Association | 5 | $0.6M | $125K | 40.0% |
| First International Bank & Trust | 4 | $1.4M | $353K | 75.0% |
| TOWN AND COUNTRY Credit Union | 4 | $0.8M | $188K | 50.0% |
| NEWREZ LLC | 3 | $0.7M | $222K | 66.7% |
| Alerus Financial, National Association | 3 | $0.6M | $202K | 33.3% |
| American Federal Bank | 3 | $0.5M | $182K | 33.3% |
| United Wholesale Mortgage | 3 | $0.5M | $162K | 66.7% |
| Midwest Bank | 3 | $0.4M | $118K | 100.0% |
| Starion Bank | 2 | $0.8M | $410K | 100.0% |
| Cornerstone Bank | 2 | $0.6M | $285K | 100.0% |
| KODABANK | 2 | $0.6M | $275K | 50.0% |
| GUILD MORTGAGE COMPANY | 2 | $0.5M | $250K | 100.0% |
| MASON MCDUFFIE MORTGAGE CORPORATION | 2 | $0.4M | $210K | 100.0% |
| GUARANTEED RATE, INC. | 2 | $0.4M | $195K | 100.0% |
| Fairway Independent Mortgage Corporation | 2 | $0.4M | $180K | 100.0% |
| MAGNIFI FINANCIAL CREDIT UNION | 2 | $0.3M | $175K | 50.0% |
| Wells Fargo Bank, National Association | 2 | $0.3M | $140K | 100.0% |
| Border Bank | 1 | $1.1M | $1105K | 100.0% |
| BankVista | 1 | $0.9M | $865K | 100.0% |
40 Minnesota loans (0.7%) carry no county code in HMDA, so county figures sum to less than the state total.
Source for Clay County: 2025 HMDA loan-level data from the CFPB/FFIEC Data Browser, retrieved November 11, 2026. How this data is built · Clay County CSV, all 25 lenders
What Clay County's table can't show you: fit. Short-term financing is exempt from HMDA, so Clay County's fix-and-flip and bridge lenders barely appear among its 39 filers, and none of the 25 names above tells you whose guidelines match your deal, your entity, or your timeline. That's the job. Dominick Prevete structures your file and places it across 100+ lenders so it lands with the one most likely to fund it.
Price your loan →Dominick Prevete places loans with some of the lenders listed here through wholesale relationships, and is paid when a loan he arranges closes. Appearing in this table is not an endorsement or a recommendation.
Counties near Clay County with published lender data
| County | Investor loans, 2025 | Lenders | Where it is from Clay County |
|---|---|---|---|
| Cass County, ND | 319 | 53 | Borders Clay County |
| Grand Forks County, ND | 113 | 26 | About 85 miles away |
| Crow Wing County, MN | 105 | 52 | About 120 miles away |
| Stearns County, MN | 156 | 57 | About 130 miles away |
| Burleigh County, ND | 147 | 30 | About 190 miles away |
Run the coverage test on your Clay County, Minnesota deal
Rent divided by the full monthly payment is the number a DSCR loan qualifies on. Enter a Clay County, Minnesota property's rent, loan, taxes and insurance to see where it lands.
Principal and interest on a thirty-year amortization, plus taxes, insurance and HOA.
Enter the rent, loan amount, rate, taxes and insurance to see the coverage ratio.
Sources
- CFPB / FFIEC HMDA Data Browser — Clay County's at-a-glance figures, its observations, its 25-lender table and the Quick Read's 39 lenders and 126 loans: 2025 HMDA loan-level data rolled up to Clay County.
- Clay County investor-lender dataset (CSV) — All 25 lenders in the Clay County, Minnesota table, ranked by loan count, with volume, average loan and purchase share for each.
- HUD FY2027 Fair Market Rents — Clay County's 2-, 3- and 4-bedroom fair market rents in the rent math, and the 3-bedroom rent its highest-price figure uses: HUD's FY2027 figures for the Fargo, ND-MN MSA.
- Census ACS 2020–2024 5-year, tables B25077 and B25103 — Clay County's median home value (B25077) and median property taxes paid (B25103) in the rent math, from the Census 2020–2024 ACS 5-year summary files.
- DSCR loan rates, Dominick Prevete — DSCR rental loans start from 7.25%, as of November 2026: the Instant Term Sheet's best-case scenario on the current rate sheets.