RENTAL PROPERTY FINANCING
Let the property
make its case.
Buy a rental, refinance its mortgage, or access eligible equity. Qualify using rental income, without W-2s or personal tax returns. Credit, reserves and property requirements still apply.
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- Rates from 5.875%Subject to credit and LTV
- No W-2s or tax returnsQualify using rental income
- 680 minimum creditSubject to full approval
HOW THE NUMBERS FIT
The property’s
numbers come first.
A simple coverage ratio starts the conversation.
The complete property and borrower review still matters.
- 01
Qualifying rent
Rental income accepted under the program.
- 02
Housing payment
Principal, interest, taxes, insurance and HOA dues.
- 03
Coverage ratio
Qualifying rent ÷ the housing payment = DSCR.
MAKE THE NUMBERS TANGIBLE
Look at the rent.
Then the repayment.
See how qualifying rent compares with the full housing payment.
DSCR is not a full cash-flow analysis. Vacancy, maintenance, management, and capital repairs can reduce actual returns. Ratios as low as 0.75 may be considered, subject to credit, reserves and down payment. A no-prepayment-penalty option may be available.
Rental coverage.
Compare rent with housing costs.
1.35×
Min $0 Max $15,000
Min $100 Max $15,000
Rent ÷ principal, interest, taxes, insurance, and HOA. Excludes operating expenses and vacancy. No qualification is implied.
KNOW WHERE YOU STAND
Loan details.
AT A GLANCE
DSCR Loans
- Rates
- From 5.875%, subject to credit, LTV and property
- Leverage
- Purchase up to 85% LTV; refinance up to 80% LTV
- Terms
- 30 or 40 year, with an interest-only option
- Income review
- Rental income, without W-2s or personal tax returns
- Property use
- Non-owner-occupied rentals, including 1–4 unit homes, condos and townhomes
- Minimum credit
- 680, with required assets and reserves
- Closing
- In as few as 14 days
WHAT GETS REVIEWED
Your starting checklist.
- Rental property you do not occupy, with supported rent
- Funds for down payment or refinance costs
- Minimum 680 credit score, available assets and required reserves
- Appraisal, title and any ownership seasoning
Worth considering
DSCR is not a full cash-flow analysis. Vacancy, maintenance, management, and capital repairs can reduce actual returns. Prepayment terms differ by option, so check them before you lock a rate.
THE IDEA, SIMPLY PUT
One loan.
More possibilities.
DSCR financing can support a purchase, a rate-and-term refinance or a cash-out refinance. Qualifying rental income is assessed against the property’s housing payment.
-
Buy a rental
Finance an eligible investment property using supported rent and your down payment.
-
Refinance a rental
Replace the current mortgage to change its rate, term or financing structure.
-
Access rental equity
Release eligible equity after mortgage payoffs and closing costs, subject to program limits.
How it works.
You set the goal. Explore your options and understand what you’ll need next.
- 01
Tell your story
Start with your goal, your property and how you earn.
- 02
Explore your options
Compare the loan features that fit your situation.
- 03
Review the details
Confirm eligibility, documents, rates and total costs.
- 04
Choose your next step
Proceed when the offer and numbers work for you.
A little more clarity
Common questions.
Clear answers to help you choose your next step.
What does DSCR mean?
Debt-service coverage ratio. In this calculator, monthly rent is divided by principal, interest, taxes, insurance, and HOA dues. A ratio of 1.00 means rent equals those costs.
Can DSCR finance both a purchase and a refinance?
Yes. A DSCR loan can be used to buy a rental property, refinance its current mortgage, or access eligible equity with a cash-out refinance. Requirements can differ by loan purpose.Draft, pending review
Do I need W-2s or tax returns?
No. Qualification is based on the property’s rental income rather than your personal income, so W-2s and personal tax returns aren’t required. Credit, reserves and property requirements still apply.Draft, pending review
What should I check before a refinance?
Compare the new payment and closing costs with what you pay today, check for any prepayment penalty on your current loan, and see how the new payment changes the property’s coverage ratio.Draft, pending review
What is the lowest DSCR you accept?
Ratios as low as 0.75 may be considered. A ratio of 1.00 or higher means the rent covers the housing payment, and 1.25 or above is generally considered strong. Credit, reserves and down payment matter more when the ratio is below 1.00.
Can I use short-term rental income?
Short-term rental income may be accepted with supporting documentation. Tell us about the property and we’ll explain what is needed.
Your next investment
starts with a clear plan.
Tell us about your rental property and financing goal.
Apply Now