DSCR
Program type: dscr
DSCR rules
- Minimum DSCR
- n/a
- Sub-1.0 DSCR allowed
- Yes
- Sub-1.0 floor
- n/a
- No-ratio option
- Yes
- No-ratio max LTV
- n/a
Credit and leverage
- Minimum FICO
- 620
- Max LTV, purchase
- 80%
- Max LTV, rate/term
- 80%
- Max LTV, cash-out
- 75%
- Loan amount
- $75,000 to $3,500,000
Geography and collateral
- States
- All except Hawaii, Maryland (49)
- Property types
- Single-family, Townhome, Condo, 2-4 units, PUD
- Short-term rentals
- Yes
- STR minimum DSCR
- n/a
- Rural allowed
- Yes
- Max acres
- Not published
- Min square feet
- Not published
Borrower rules
- Entity (LLC) borrowers
- Yes
- Individual borrowers
- Yes
- Foreign nationals
- No
- ITIN borrowers
- Yes
- First-time investors
- Yes
- Minimum experience
- Not published
- Cash-out seasoning
- Not published
- Reserves
- 3 months
- Max loans per borrower
- Not published
Terms
- Prepay options
- state-dependent (see guidelines); investment transactions only
- Prepay required
- Not published
- Interest-only
- Yes
- Terms
- 30 yr, 40 yr
- Rate types
- 30-yr fixed, 40-yr fixed, 5/6 ARM, 7/6 ARM
Provenance
- Source
- Program page
- Document
- Guideline PDF
- Source retrieved
- Oct 4, 2026
- Last verified
- Not yet verified by a human
- Auto-checked
- Oct 4, 2026, matched the source
Research notes
Extracted from the public DSCR Product Matrix (updated 08/28/2026) plus the DSCR program page. Max HCLTV 80% applies to purchase/limited cash-out on SFR/PUD/2-4/condo and SFR rural at FICO 680+ up to $1.5M; lower tiers: 700+ 75%/$2M, 70%/$2.5M, 65%/$3M; 660-679 75%/$1M; 640 70%/$1M; 620 65%/$1M. Cash-out max 75% HCLTV at 720+ up to $1.5M (700-719 75%, 680-699 70%, 660-679 65%); cash-out with DSCR <0.75 capped at 65% CLTV and DSCR 0.75-0.99 at 70%. Matrix states 'All other property types: No Minimum DSCR' (hence minDscr null and no sub-1 floor), condo/condotel min DSCR 1.00, DSCR <1 requires min FICO 680; program page also lists 'No ratio loans' but no no-ratio LTV. Reserves are 3 months PITIA for loans <=$1M, 6 months $1M-$2M, 12 months >$2M (recorded 3). Condotel allowed (max 75%), 2nd appraisal >$2M, gift funds OK with 10% min borrower contribution, 48-month credit-event seasoning, 0x30x12 mortgage history, IO 120 months (min FICO 680, qualified at amortizing ITIA), prepay allowed only on investment loans and based on state limits. Vesting: individual or LLC/Corp with max 4 owners who must all be borrower/guarantor. First-time homebuyer: max $1M, min FICO 680, max 70% CLTV, DSCR >=1, no IO, no STR. Residency: US citizen, permanent resident, non-permanent resident (min FICO 700 for cash-out), ITIN; foreign nationals go through the separate Foreign National DSCR program/matrix (not captured). State exclusions: HI, MD, VI (US Virgin Islands omitted from the state array); an additional 'Inv No License' exclusion list (AZ, CA, DC, HI, ID, MD except Baltimore, MI, MN, NV, NM, ND, OR, SD, UT, VA, VI, VT) applies to an unlicensed-investor sub-scenario and was not encoded. Cash-out seasoning, max acreage, min sqft, and max loans per borrower not stated in the matrix. One cell in the matrix reads '$20,000,000' for SFR rural 700+ at 75% which is almost certainly a typo for $2,000,000.