Question 1

Can I get investor financing with multiple rental properties already?

Accepted Answer

Yes, portfolio lenders approve borrowers with 10+ financed properties. They underwrite each deal individually based on that property's DSCR, not aggregate debt ratios.

Question 2

Do I need to show rental history on the subject property?

Accepted Answer

No, lenders use appraised market rent to calculate DSCR. Vacant properties qualify based on what comparable units rent for in the area.

Question 3

What's the minimum down payment for a Firebaugh rental property?

Accepted Answer

Most investor loans start at 15% down. Stronger credit and higher DSCR can sometimes reduce that to 15%, while marginal deals may require 25-30%.

Question 4

How do lenders calculate debt service coverage ratio?

Accepted Answer

They divide monthly market rent by the full PITI payment including taxes, insurance, HOA, and mortgage insurance. A 1.0 DSCR means rent exactly covers the payment.

Question 5

Can I use projected rental income for qualification?

Accepted Answer

Yes, lenders order appraisals with rent schedules showing comparable market rents. That projected income qualifies you even if the property sits vacant at closing.

Investor Loans in Firebaugh: Finance Rental Properties Without W-2 Income