What You Need to Qualify

DSCR Loan Requirements

DSCR rental loans qualify on a property's cash flow — not your personal income, W-2s, or tax returns. This page walks through every requirement Pimlico Capital uses to underwrite a 30-year DSCR loan, plus the documents you'll need to close.

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Rental property exterior
DSCR Loans
1.0xMinimum DSCR we accept
660Minimum FICO score
80% LTVMaximum on purchase or rate-and-term

Minimum DSCR ratio

We require a minimum DSCR of 1.0x. That means the property's gross monthly rent must cover the full PITIA (principal, interest, taxes, insurance, and any HOA) at closing.

We use the property's actual lease at closing when one is in place. For vacant or recently rehabbed properties, we use the appraiser's market rent from comparable rentals nearby.

Higher DSCR (1.2x and above) typically unlocks better pricing and higher LTV options. Full DSCR calculation walkthrough →

Credit score (FICO)

Minimum 660 FICO. We pull a soft inquiry during pre-qualification and a hard pull only at the time of full submission.

Higher credit (700+) typically gets you better pricing and higher LTV. We don't require perfect credit — we look at the full picture, including any recent late payments or collections.

No bankruptcy in the last 4 years. No foreclosure in the last 3 years. Short sales considered case-by-case.

Loan-to-value (LTV) limits

Up to 80% LTV on purchases or rate-and-term refinances.

Up to 75% LTV on cash-out refinances.

LTV is based on the appraised value at closing. We order appraisals through approved AMCs (appraisal management companies) — typical turnaround is 7–14 business days.

Property types we fund

Single-family rentals (SFR).

2–4 unit small multifamily (duplex, triplex, quadplex).

Condos (with conforming HOA financials).

Short-term rentals (with verified booking history — Airbnb/VRBO) in jurisdictions where STR is permitted.

Townhouses and row homes (we routinely fund Baltimore, Philadelphia, and DC rowhouses).

We don't fund: owner-occupied properties, raw land, mobile homes, or properties needing significant rehab before they can be rented.

Entity and titling requirements

Most DSCR loans close in an LLC, S-corp, or trust. Personal-name closings allowed in most cases.

Foreign-national borrowers can close through a US LLC. No US tax returns required — the property income qualifies the loan.

We've closed thousands of LLC titlings across MD, VA, FL, PA, NY, NJ, DE, NC, SC, GA, OH, IN, and AL.

The Differentiator

What we DON'T require

What most lenders ask for that we don't — these are the things that make our process faster than a conventional shop.

No personal income verification. No W-2s, no pay stubs, no employment letters.
No personal tax returns. The property's rental income qualifies the loan.
No DTI (debt-to-income) calculation. Your other personal debts don't factor in.
No reserves outside the loan. We don't require 6–12 months of reserves in a separate account like some lenders do.
No prepayment penalty on most products. Pay off early without a fee.
Checklist

Documents you'll need

A typical complete file looks like this.

Government-issued photo ID for each borrower / guarantor
LLC operating agreement and EIN (if closing in an entity)
Property address, purchase contract (or current loan statement if refinancing)
Current lease, or projected rents and comparable rentals if vacant
Property insurance binder (we can recommend brokers)
Two most recent personal bank statements (for closing-cost verification only)

Common Questions

Can I qualify for a DSCR loan with no rental experience?
Yes. We fund first-time landlords on the same terms as experienced investors. As long as the property's rental income covers the PITIA at 1.0x DSCR, the loan can close.
What's the minimum DSCR ratio you'll accept?
1.0x. That means the property's rent covers the mortgage payment, taxes, insurance, and HOA in full. Higher DSCR ratios typically get better pricing.
Do I need to show personal income or tax returns?
No. DSCR loans qualify entirely on the property's cash flow. We don't ask for W-2s, pay stubs, or tax returns — that's the core differentiator vs. a conventional rental loan.
Can foreign nationals get a DSCR loan?
Yes. Foreign-national borrowers close through a US LLC. No US tax returns required. We've closed on FL, NY, and MD LLCs owned by foreign individuals routinely.
Will a DSCR loan show on my personal credit report?
Usually no, because the loan is in the entity's name (LLC, S-corp, trust). However, the personal guarantee is reported in some scenarios. We'll walk you through the specifics on your call.
What's the minimum and maximum loan amount?
$75K minimum, $1.5M maximum per property. Larger portfolio loans (covering multiple properties under one structure) are available — contact us for portfolio terms.
How long does it take to close a DSCR loan?
Typically 3–4 weeks from a complete file. The appraisal and title work are usually the longest items. Rate-and-term refinances on stabilized rentals can sometimes close faster.
Can I use a DSCR loan to refinance a property I bought with hard money?
Absolutely — this is one of our most common scenarios. Once the property is rehabbed, leased, and stabilized, we can refinance the bridge loan into a 30-year DSCR. Cash-out vs. rate-and-term refi walkthrough →
How It Works

From first call to funded.

1

Submit the deal

Get a quote online or call us. We'll size the deal in 24 hours.

2

Underwriting

Our in-house team underwrites the file — not an algorithm or a remote committee.

3

Close & fund

5–10 business days for bridge, 3–4 weeks for 30-year rental.

Investor Education

From the Blog

Investor playbooks and explainers from our team. See the full library on our blog.

Ready to talk about your deal?

Get a quote in 24 hours or call us right now.

Get a DSCR rate Call (410) 855-4600
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