A retail bank can only quote what's on its own shelf. A broker shops the whole wholesale panel, including the DSCR investors most retail loan officers can't access. Below: the programs we run, with DSCR and conventional leading.
No W-2, no tax returns, no employment. Check the reserve requirements before you budget. The property's rent covers the debt. Purpose-built for investors growing a portfolio.
How DSCR loans workThe default for most buyers with a clean income file. Best rate-to-cost ratio when the file qualifies.
Start a conventional fileLower credit floor, MIP for the life of the loan in most cases. Commonly paired with Illinois down payment assistance. New to this? Start with buying a first home.
Eligible service. No mortgage insurance, often no down payment.
Income-limited. Useful in eligible areas with no down payment.
Reserves required. Overlays vary materially between investors.
We run break-even before recommending. If the math is bad, we say so. See how the break-even math works.
For pulling equity at a fixed rate, against a HELOC's variable cost.
A line of credit. Cheaper to open, more expensive to carry.
For self-employed borrowers. Twelve to twenty-four months of deposits in place of tax returns. More on how bank statement loans work.
DSCR lenders price differently. Some require 1.25x, some accept 1.0x; some allow interest-only, some restrict to 5-unit max. We match the property's rent-to-debt picture to the investor whose overlays fit, which is not something a retail loan officer can do.
A retail bank misreads a Schedule C by treating one year's gross as income. We average two years, add back depreciation and amortization, and document the picture before submission so the underwriter scores you on what you actually earn.
Multiple financed properties affect conventional eligibility after four units. We track the full picture: how each property qualifies, where the DSCR route makes more sense than conventional, and how to structure the next acquisition without triggering a reserve shortfall on existing loans.
| Program | Best for | Min credit | Max LTV | Docs needed | Typical timeline |
|---|---|---|---|---|---|
| DSCR | Investors qualifying on rent, not W-2 | 660+ | 80% | Lease or market rent, no tax returns | 14 to 18 days |
| Conventional | Buyers with a clean income file | 620+ | 97% | W-2s, paystubs, bank statements | 21 days |
| FHA | Lower credit or smaller down payment | 580+ | 96.5% | W-2s, paystubs, bank statements | 21 to 30 days |
| VA | Eligible service members and veterans | 580+ | 100% | COE, income docs | 21 to 30 days |
| USDA | Eligible rural buyers within income limits | 620+ | 100% | Income docs, area eligibility | 30 days |
| Jumbo | Loan amounts above $832,750 | 700+ | 89.99% | Full income plus reserves | 21 to 30 days |
| Bank statement | Self-employed without clean tax returns | 660+ | 90% | 12 to 24 months of deposits | 21 to 30 days |
Not sure which row is you? A twenty-minute call will sort it. Floors and ceilings vary by wholesale lender. You can also compare indicative pricing by program or read how a file moves from intake to funding.
A twenty-minute conversation usually sorts which program fits. The first call is free, with no application fee at any point in the process.
