Debt service coverage ratio (DSCR) loans: keep the house and let its rent qualify the loan.

A long-term rental loan that qualifies on the property instead of your paycheck. DSCR means debt service coverage ratio: monthly rent divided by the monthly PITIA payment. Clear the lender's ratio floor, stay inside its leverage limit, and you close without tax returns or W-2s, in your own name or an LLC. It finances investment property only.

Divide monthly rent by monthly PITIA: principal, interest, taxes, insurance and HOA dues. For rent, use whichever is smaller, the lease or the appraised market rent, because that's the figure most lenders credit. The worked house rents for $2,050. Its $1,347 of principal and interest, $230 of taxes and $118 of insurance add up to $1,695, so DSCR = 2,050 ÷ 1,695 = 1.21.

It depends on the lender. In October 2026 Roc and Civic asked for 1.05, Lima One and RCN for 1.00, Kiavi for 0.80, and LendingOne and Defy for 0.75. Easy Street set none. Under 1.00, expect less leverage and more rate: LendingOne's September 2026 guide priced weak-ratio borrowers at 8%–10% and up, against 6%–7% for a strong ratio and a high score.

Yes, once the work is finished and the house is rented or ready to rent. Seasoning is the catch. Many lenders size the refinance on appraised value only after about 90 days of ownership; before that, Roc and Civic cap it at cost basis, meaning price plus documented rehab. Lima One drops the wait when it made your rehab or bridge loan.

The lowest published floor in October 2026 was Griffin's 620. Angel Oak's 680 was the highest, with the 660 group (Lima One, RCN, Roc, Civic) and the 640 pair (Defy, Easy Street) in between. Your score moves leverage as well as approval. RCN lends 80% on a purchase at 700 and up but 65% at 660–679, so moving up a score band before you apply can change the loan.

Plan on 20% down, because most lenders published an 80% loan-to-value cap in October 2026. Defy and Griffin went to 85% with 740+ credit, and Angel Oak at 720+. Add closing costs and reserves: Kiavi sets no minimum, Defy wants three months of PITIA, Easy Street as many as nine. On a refinance, rate-and-term loans reach 75–80% of value.

Most do. The common five-year schedule is written 5-4-3-2-1: pay off in year 1 and the penalty is 5% of the balance, then 4%, 3%, 2% and 1%, then nothing. Shorter schedules or no penalty cost more rate, and Kiavi charges none after year 3. On a $195,000 loan, a year-1 payoff costs $9,750. Might you sell inside three years? Buy the shorter penalty.

Yes. An entity borrower is required at Lima One, Roc and Civic and allowed at every other lender we reviewed in October 2026. Expect a personal guarantee and a request for the articles of organization, operating agreement and EIN letter. Deeding a property you already own into an LLC can affect your current loan and your taxes, so ask an attorney and a CPA first.

Usually not. Lima One, Roc, Civic and Defy publish no rental-experience requirement, and Easy Street says first-time investors are eligible. Experience can still change your terms, so expect questions about how many properties you've bought or refinanced in the last two to three years. A first rental with a signed lease and a ratio above 1.00 is a fundable file.

You can still close, but the rent counts for less. With no lease, the lender works from the appraiser's estimate, and Roc and Civic credit only 90% of it. On the worked house that turns $2,050 into $1,845 and drops the DSCR from 1.21 to 1.09. It still clears 1.00, with less room. A signed lease before the appraisal is the cheapest way to lift the ratio.

There's no program-wide count. Each DSCR loan stands on its own property's ratio, so the real limits are your cash for down payments and reserves and any exposure cap a single lender sets. Conventional loans are different: Fannie Mae's automated underwriting stops at 10 financed properties. Several rentals can also be rolled into one portfolio loan.

No. It's business-purpose credit for a rental, not for a home that you, your spouse or your kids will occupy, even part of the year. If you plan to live there, talk to a residential mortgage lender that makes owner-occupied loans. Fund Your Deal works only on non-owner-occupied rentals and investment projects.

Plan on two to five weeks. Defy publishes 14–21 days, Easy Street about 30, and Griffin averages 34. The appraisal, with its market-rent estimate, takes the longest. Refinancing out of a rehab loan? Start at least five weeks before it matures, and have the lease, insurance, entity documents and payoff letter ready on day one.