Question 1

What DSCR ratio do I need to qualify in Wheatland?

Accepted Answer

Most lenders require a minimum 1.0 ratio, meaning rental income equals the mortgage payment. Some programs accept 0.75-1.0 with larger down payments or stronger credit profiles.

Question 2

Can I use DSCR loans for short-term rental properties?

Accepted Answer

Many DSCR programs accept short-term rental income with proper documentation of booking history. Lenders typically require 12-24 months of operating history for vacation rentals.

Question 3

How quickly can DSCR loans close in Wheatland?

Accepted Answer

Most DSCR transactions close in 21-30 days with complete documentation. Simpler deals with strong ratios and clean appraisals can close faster when needed.

Question 4

Do DSCR loans require property management experience?

Accepted Answer

No landlord experience is required for DSCR approval. Lenders focus solely on the property's ability to generate sufficient rental income to cover debt obligations.

Question 5

Can I refinance existing Wheatland rentals with DSCR loans?

Accepted Answer

Yes, DSCR refinances work well for pulling equity or removing personal income from qualification. The property must still meet DSCR requirements based on current rental income.

DSCR Loans in Wheatland: Investor Financing Based on Property Performance, Not Personal Income