Prepare the complete review
DSCR Refinance Requirements: Property, Rent, Credit and Payoff
See the property, rental income, credit, ownership, and loan details a specialist may need to review your DSCR refinance.
The first gate
Business purpose and non-owner occupancy come before the loan calculation.
This site is designed for eligible non-owner-occupied rental or investment property used primarily for business, commercial, or investment purposes. It is not an owner-occupied consumer refinance channel.
Confirm that the property is non-owner-occupied and the financing is primarily for a business or investment purpose before starting.
Business-purpose classification and mortgage licensing are separate concepts. The property state, borrower type, vesting, transaction, lender channel, program, and applicable requirements must be reviewed together.
Borrower and ownership
Identify who owns the property and who will borrow.
Borrower identity
- Legal name and contact information
- Credit range and later credit authorization when required
- Mortgage and housing payment history when requested
- Experience or background information when relevant to the program
- Authorized signer for an entity borrower
Entity or vesting
- Individual, LLC, corporation, trust, or other ownership
- Articles, operating agreement, bylaws, trust, or similar documents as applicable
- Employer identification or organizational information through the secure process
- Members, managers, guarantors, and authorized signers as required
- State-specific vesting conditions
Ownership history
- Acquisition date
- Recent transfers
- Entity changes
- Related-party transfers where applicable
- Improvement and prior financing history
Business purpose
- Non-owner-occupied use
- Rental or investment objective
- Use of cash-out proceeds when requested
- Business or investment purpose only
- Property state and transaction context
Property information
The property must be described as it exists today.
The desk needs the property type, address, state, number of units or use, occupancy, condition, current status, legal use, renovation stage, short-term-rental use, and estimated value. A stabilized single-family rental is a different file from a vacant four-unit property, a mixed-use asset, or a project still under construction.
Recent improvements should be described without using a public form to transmit sensitive contracts or documents. If the property is newly completed or substantially renovated, the file may need evidence of completion, permits, inspections, or occupancy status where applicable.
Insurance, taxes, HOA dues, and material property expenses help frame the proposed debt obligation. The exact documentation and calculation treatment depend on the program and underwriting review.
Rent documentation
Current rent, expected rent, and market rent are not interchangeable.
Current rent
- Existing lease or occupancy
- Actual monthly contract rent
- Payment and operating history when required
- Current tenant and unit status
- Short-term-rental history when applicable
Expected or market rent
- Vacant or lease-up property
- Appraisal rent schedule or other accepted support
- Market conditions and property readiness
- No guarantee that projected rent will be used
- Program-specific documentation requirements
Debt and payoff
The refinance cannot be structured correctly without every continuing lien.
Current first mortgage
- Debt type and lender
- Current payoff
- Maturity or balloon date
- Payment and rate information when known
- Prepayment or exit provisions when known
Subordinate debt
- Balance of any lien that remains
- Lien position
- Whether the lien will be paid or retained
- Terms and payment when requested
- Impact on total CLTV
Requested loan
- Requested new first mortgage
- Rate-term, cash-out, or free-and-clear objective
- Desired proceeds
- Timeline
- Reason for the refinance
Title items
- Recorded mortgages and deeds of trust
- Tax, judgment, mechanic, municipal, or other liens
- Ownership name consistency
- Payoff and release requirements
- Title exceptions that affect closing
Value and leverage
The desk reviews value, first-lien LTV, total CLTV, and proceeds separately.
Property value
Supported value determined through the required review
The website begins with an estimate; the final file uses the value accepted under the selected program.
First-lien LTV
Requested new first mortgage ÷ property value
Measures the proposed new first mortgage only.
Total CLTV
(Requested new first mortgage + retained subordinate debt) ÷ property value
Measures all continuing secured debt included in the review.
Gross cash-out
Requested new first mortgage − existing first payoff
A preliminary difference before closing costs and other adjustments.
Credit, liquidity, and history
DSCR does not remove borrower-level review.
The lender may review credit profile, mortgage history, housing events, liquidity, reserves, entity, guarantor, background, and other borrower information. The exact thresholds and documentation vary by current program and file.
Credit, reserves, leverage, ownership seasoning, and timing requirements vary by program and file. A specialist can explain the current requirements for your scenario.
Investors should disclose material recent credit, mortgage, ownership, bankruptcy, foreclosure, forbearance, modification, delinquency, or title events through the appropriate secure process. Omitting a material issue usually delays the file more than raising it early.
Preparation checklist
What to have ready when the specialist asks for the full file.
Property
- Address, type, units, condition, and status
- Lease or rent support
- Taxes, insurance, and HOA
- Improvement and occupancy information
- Valuation access and contact details as required
Debt
- Current payoff
- Maturity and payment information
- Subordinate liens
- Prepayment or extension terms
- Recent mortgage statements or approved payoff documents
Borrower and entity
- Identification through the secure process
- Entity formation and operating documents
- Ownership and signer information
- Credit authorization when required
- Liquidity or reserve evidence when requested
Closing
- Title and vesting information
- Insurance contact
- Payoff contacts through approved channels
- Business-purpose explanation
- Requested timeline and availability to satisfy conditions
What is not required merely to start
The first review can begin before the full document package.
The preliminary website review can begin with accurate property, rent, payoff, requested-loan, ownership, seasoning, state, credit-range, and contact information. A hard credit pull is not required merely to start.
That does not waive later documentation. If the file moves forward, the lender may require a complete application, disclosures, credit authorization, property valuation, title, insurance, entity, income or asset-related information as applicable, and other underwriting evidence.
Questions investors ask
DSCR refinance answers.
These answers describe the review process and do not replace current program, lender, legal, or underwriting requirements.
Are tax returns required to start a DSCR refinance review?
The preliminary review begins with property, rent, debt, value, ownership, seasoning, state, credit range, and requested-structure information. Additional documentation may be required later depending on the borrower, property, program, and underwriting path.
Is there a published minimum credit score on this site?
Credit requirements vary by program. Your credit profile and mortgage history are reviewed with the complete file.
Do I need an appraisal?
A valuation or appraisal may be required depending on the file and program. The initial estimated value is not the final underwriting value.
Do reserves or liquidity matter?
They may. Requirements vary by program, property, borrower, ownership, and transaction. The website does not publish a one-size-fits-all reserve amount.
Does ownership seasoning matter?
Acquisition and transfer history may affect the review. Enter the actual ownership period and explain recent transfers or improvements through the appropriate process.
Can I keep a subordinate lien?
A retained subordinate lien can be submitted for review. Its balance and position affect CLTV, title, and program eligibility.
Next useful pages
Keep building the refinance file.
Ready to organize the refinance?
Tell us about your property and current loan. A refinance specialist will review your goals and explain the next steps.