Defy Mortgage vs Logan Finance
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. Logan Finance: not itemized.
The short version
- Defy Mortgage accepts STR history or a projection; Logan Finance needs 12 months of STR history.
- Defy Mortgage has the lower minimum credit score (640 vs 700).
- Defy Mortgage has the higher max purchase LTV (85% vs 75%).
- Defy Mortgage has the higher max cash-out LTV (80% vs 70%).
- Defy Mortgage has the lower minimum loan ($75K vs $150K).
- Defy Mortgage has the lower minimum DSCR (0.75 vs 1.00).
- Defy Mortgage allows first-time investors; Logan Finance does not allow them.
Based only on published figures, checked Oct 19, 2026. Published maximums usually need top credit. Confirm with the lender.
| Term | Defy MortgageDirect lender | Logan FinanceWholesale / correspondent |
|---|---|---|
| STR income method | Either defytpo.com · checked Oct 19, 2026 | 12-month history loganfinance.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: Refi: lower of appraisal market rent or 12-month STR history (third-party manager verified); no % factor published. Projection: Purchase: appraisal market rent (long-term), not STR projections. STR max LTV 75%. loganfinance.com · checked Oct 19, 2026 |
| Min credit score | 640 defymortgage.com · checked Oct 19, 2026 | 700 loganfinance.com · checked Oct 19, 2026 |
| Min DSCR | 0.75 defymortgage.com · checked Oct 19, 2026 | 1.00 loganfinance.com · checked Oct 19, 2026 |
| DSCR below 1.0 | Yes Lender sources · checked Oct 18, 2026 | No loganfinance.com · checked Oct 19, 2026 |
| No-ratio option | Not published | No loganfinance.com · checked Oct 19, 2026 |
| Max LTV (purchase) | 85% defymortgage.com · checked Oct 19, 2026 | 75% loganfinance.com · checked Oct 19, 2026 |
| Max LTV (cash-out/refi) | 80% defymortgage.com · checked Oct 19, 2026 | 70% loganfinance.com · checked Oct 19, 2026 |
| Min loan | $75K defymortgage.com · checked Oct 19, 2026 | $150K loganfinance.com · checked Oct 19, 2026 |
| Max loan | Not published | $1.5M loganfinance.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 | Required; 1-5 year options loganfinance.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 | Not published |
| First-time investors | Yes Lender sources · checked Oct 18, 2026 | No loganfinance.com · checked Oct 19, 2026 |
| Channel | Direct lender | Wholesale / correspondent |
| Last verified |
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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.