Fundamentals · 5 min read

DSCR requirements checklist

Credit, LTV, coverage, reserves, property types and documents — everything that gets checked on a DSCR refinance, in one list.

Guidelines vary by program and change over time, so treat these as typical ranges rather than promises. Nothing here is a commitment to lend.

Borrower

Credit: 660+ is the common floor; pricing improves at 700+ and again at 740+
Experience: first-time investors are eligible on many programs, sometimes at reduced leverage
Reserves: typically several months of PITIA in liquid funds
Entity: LLC, LP or trust vesting accepted; personal name allowed in most states
No income documents, no DTI calculation, no employment verification

Occupancy: investment only — never owner-occupied
Types: single family, 2–4 unit, condo, townhome, and 5–10 unit on portfolio programs
Condition: rent-ready; major deferred maintenance must be cured
Short-term rentals eligible with trailing revenue documentation
Rural and unique properties reviewed case by case

Purpose: cash-out, rate-and-term, or bridge/hard money payoff
Max LTV: around 75% cash-out, up to 80% rate-and-term
Min DSCR: 1.00 typical; best terms at 1.25+
Structures: 30-year fixed, interest-only periods, 40-year options on some programs
Prepayment penalty structures are standard; shorter prepay costs more in rate

The fastest files are the ones where taxes and insurance are real figures, not estimates. Those two lines decide your DSCR.

Sixty seconds of property questions, no credit pull, and you'll see your estimated cash out and DSCR as you go.

Answer 12 quick questions about the property. About 60 seconds. No credit pull, no personal income docs.

Business-purpose loans for investment properties only. Not for owner-occupied properties. Not a commitment to lend.