Defy Mortgage vs Griffin Funding
What each lender publishes about financing short-term rentals, side by side. Defy Mortgage: all except ak, az, id, mi, mn, nv, nd, or, sd, ut, vt. Griffin Funding: all 50 states + dc.
The short version
- Both accept STR history or a projection.
- Griffin Funding has the lower minimum credit score (620 vs 640).
- Both publish a 85% max purchase LTV.
- Both publish a 80% max cash-out LTV.
- Defy Mortgage has the lower minimum loan ($75K vs $100K).
- Only Defy Mortgage publishes a minimum DSCR (0.75).
- Defy Mortgage allows first-time investors; Griffin Funding allows them.
Based only on published figures, checked Oct 19, 2026. Published maximums usually need top credit. Confirm with the lender.
| Term | Defy MortgageDirect lender | Griffin FundingDirect lender (consumer-direct) |
|---|---|---|
| STR income method | Either defytpo.com · checked Oct 19, 2026 | Either griffinfunding.com · checked Oct 19, 2026 |
| STR income details | 12-month history: 12-month operating history accepted; factor not published. Projection: Purchase: AirDNA, 80% of annual revenue ÷ 12; operator experience in the last 12 months required. STR min DSCR 1.15. STR max LTV 75%. defytpo.com · checked Oct 19, 2026 | 12-month history: 12 months Airbnb/Vrbo history; 80% where a 20% expense factor applies, 100% on other programs. Projection: Purchase: AirDNA and/or appraiser STR analysis (often the lower of the two); 80% or 100% by program. griffinfunding.com · checked Oct 19, 2026 |
| Min credit score | 640 defymortgage.com · checked Oct 19, 2026 | 620 griffinfunding.com · checked Oct 19, 2026 |
| Min DSCR | 0.75 defymortgage.com · checked Oct 19, 2026 | Not published |
| DSCR below 1.0 | Yes Lender sources · checked Oct 18, 2026 | Yes Lender sources · checked Oct 18, 2026 |
| No-ratio option | Not published | Yes Lender sources · checked Oct 18, 2026 |
| Max LTV (purchase) | 85% defymortgage.com · checked Oct 19, 2026 | 85% Lender sources · checked Oct 18, 2026 |
| Max LTV (cash-out/refi) | 80% defymortgage.com · checked Oct 19, 2026 | 80% griffinfunding.com · checked Oct 19, 2026 |
| Min loan | $75K defymortgage.com · checked Oct 19, 2026 | $100K griffinfunding.com · checked Oct 19, 2026 |
| Max loan | Not published | $4.5M griffinfunding.com · checked Oct 19, 2026 |
| Prepayment | Standard 5-year step-down (5/4/3/2/1); flat 5% also available defymortgage.com · checked Oct 19, 2026 | 0-5 year terms; common structure is a 5-year step-down (5/4/3/2/1); can be bought out at closing griffinfunding.com · checked Oct 19, 2026 |
| States served | All except AK, AZ, ID, MI, MN, NV, ND, OR, SD, UT, VT Lender sources · checked Oct 18, 2026 | All 50 states + DC Lender sources · checked Oct 18, 2026 |
| First-time investors | Yes Lender sources · checked Oct 18, 2026 | Yes griffinfunding.com · checked Oct 19, 2026 |
| Channel | Direct lender | Direct lender (consumer-direct) |
| Last verified |
More comparisons
Free · Weekly
- Where the 10-year Treasury moved and what it means for STR loan pricing
- Lender term changes flagged on the lenders' own pages
- A short, plain-English STR financing explainer
No spam, unsubscribe anytime. Form not loading? Subscribe here.
Not a lender or broker. No referral fees. For education only. Figures come from each lender's public pages on the date shown and can change without notice, so verify them with the lender. Rates are estimates, not quotes. How we source data.