Question 1

Can I use projected rent on a vacant property?

Accepted Answer

Often, yes. The lender usually relies on the appraiser's rent estimate, so a vacant Alameda rental can still qualify if expected market rent supports the monthly payment.

Question 2

Do I need reserves in the bank?

Accepted Answer

Usually. Because Alameda payments can be large, many lenders want several months of mortgage payments left after closing.

Question 3

What if my DSCR comes in at 0.95?

Accepted Answer

Some lenders may still consider it, but the loan usually gets more expensive or needs a larger down payment. A ratio below 1.0 means rent does not fully cover the payment.

Question 4

Can I close in an LLC from day one?

Accepted Answer

Often. Many DSCR lenders allow an LLC, though they may still require the borrower to personally guarantee the loan.

Question 5

How long does approval take?

Accepted Answer

About 18 to 25 days can be realistic when the appraisal and rent estimate come back clean. The main delay is usually a rent estimate that does not support the payment.

Alameda DSCR Loans Use Rental Income Instead of Tax Returns