Getting ready
DSCR loan documents checklist: what to have ready
Quick answer
A DSCR file skips the tax returns and pay stubs but still needs ID, credit authorization, bank statements for down payment and reserves, property details, rent evidence, insurance and, if you vest in an LLC, the entity documents. Having these ready before you apply is the easiest way to avoid delays.
What you do not need
Most DSCR programs do not ask for personal tax returns, W-2s, pay stubs or a verification of employment. That is the point of the product: it qualifies on the property. Investors are sometimes surprised that the list below is still a real list. No income documents is not the same as no documents.
About you (the borrower or guarantor)
- Government-issued photo ID.
- Authorization for the lender to pull credit (you will sign this during the application, not on this website).
- A brief real estate experience summary, if the lender asks: properties you own or have owned and how long. Some programs care, some do not.
- Your contact information and current address.
Note that nothing on this website asks for your Social Security number, date of birth or credit score. Sensitive details are collected later through a secure application, not a web form.
Your money: down payment, closing costs and reserves
- The two most recent monthly statements for every account you will use: checking, savings, brokerage, or retirement accounts if the lender allows them.
- An explanation and paper trail for any large, unusual deposits in those statements.
- If funds are coming from a business account, the lender may want proof you own the business and that withdrawing the funds will not harm it.
- If you are using gift funds, ask early; many DSCR programs restrict or prohibit them.
Reserves are the cash you still have after closing, often measured in months of payments. Requirements differ by lender, loan size and how many properties you own.
The property
- Property address and type (single-family, condo, two-to-four unit, five-plus unit, short-term rental).
- Current lease or leases, if rented, and for multifamily a rent roll.
- For short-term rentals, twelve months of booking or payout history if it exists.
- The current tax bill.
- An insurance quote or current declarations page for a landlord policy, with flood or wind coverage if required.
- HOA contact information and dues, for condos and planned communities.
The appraisal is ordered through the lender, and on most rentals it includes a market rent estimate. You do not order it yourself.
The entity, if you are closing in an LLC
- Articles of organization or certificate of formation.
- Operating agreement with members, ownership shares and signing authority.
- EIN confirmation letter from the IRS.
- Certificate of good standing from the state.
- Any required authorization or resolution to borrow.
The guide on DSCR loans in an LLC explains why these matter and how the personal guarantee usually works.
The transaction
For a purchase
The fully signed purchase contract and any addenda, the earnest money receipt, and your title or escrow contact. If you will vest in an LLC, confirm the contract is in the LLC's name or assignable to it.
For a refinance
The current mortgage statement, the payoff contact, the deed or vesting information, and documentation of renovation costs if you improved the property and want the lender to consider today's value.
The small things that slow files down
- Bank statements with missing pages. Lenders want every page, including the blank ones.
- Unexplained transfers between accounts. A quick note and the matching statement from the other account solves it.
- An insurance policy written in the wrong name or on the wrong form.
- An LLC name that does not match across documents.
- A lease that does not match the property address or has expired without a renewal or month-to-month clause.
- Waiting until the last week to get an insurance quote on a property in a high-premium area.
How to send it to me
You do not need everything to start. Send me the basics through the application form on this site: who you are, the property state, the loan purpose and a short description. A Loan Daddy loan specialist will follow up with a secure way to share documents when it is time. Starting early, even with an incomplete list, gives me time to match the file to the right wholesale lenders before you are on a deadline.
Frequently asked questions
What documents do I need for a DSCR loan?
Typically photo ID, credit authorization, recent bank statements for down payment and reserves, property information, leases or rent evidence, an insurance quote, the tax bill and, for an LLC, the entity documents. Most programs do not need tax returns or pay stubs.
Do DSCR loans need tax returns?
Usually not. DSCR programs qualify on the property's rent compared to the payment, so personal income documents are generally not required.
How many months of reserves do DSCR lenders require?
It varies by lender, loan amount and how many properties you own. I check reserve requirements as part of matching your file to wholesale lenders.
Will you ask for my Social Security number on the website?
No. The forms on this site never ask for your SSN, date of birth or credit score. Those details are collected later through a secure application process.
Educational content, not a loan offer. Requirements vary by wholesale lender and change over time. Business-purpose loans for non-owner-occupied investment property only.