Question 1

Can I use projected rent to qualify if the property is vacant?

Accepted Answer

Yes. Lenders order rent schedules from appraisers showing market rent for Albany comparables. You qualify on that projected income, not existing leases.

Question 2

Do Albany investor loans require reserves?

Accepted Answer

Most lenders want 6-12 months of mortgage payments in reserves. Multi-unit properties and weaker credit push that to 12-18 months liquid.

Question 3

How fast can I close on an Albany rental property?

Accepted Answer

DSCR loans close in 21-30 days with clean appraisals. Hard money funds in 7-14 days if you accept higher rates and points upfront.

Question 4

What debt service coverage ratio do Albany lenders require?

Accepted Answer

Most want 1.0-1.25 DSCR minimum. Rental income must cover 100-125% of the mortgage payment after lender haircuts to gross rents.

Question 5

Can I finance multiple Albany properties simultaneously?

Accepted Answer

Yes. Portfolio lenders handle multiple closings better than single-asset lenders. Expect higher reserves and down payments on properties beyond your fourth financed rental.

Investor Loans in Albany: Finance Rentals and Fix-Flips in a High-Demand Micro-Market