DSCR loans usually qualify mainly on the property’s rental income compared with its full payment (principal, interest, taxes, insurance and any HOA), rather than your personal income. They’re for business-purpose investment property, not a home you’ll live in. Commercial and non-QM financing may be available in states outside Florida where permitted; licensing varies by state, so ask about yours. Exact documents vary by lender and program.
You and your entity
Photo ID and credit authorization
For every borrower and guarantor.
Entity documents
If you’re buying in an LLC or corporation: articles of organization, operating agreement, EIN letter and a current certificate of good standing.
Bank statements
Usually the two most recent months for the accounts used for down payment, closing costs and reserves.
Schedule of real estate owned
A list of properties you own with address, value, loan balance, payment and rent for each.
Experience (if asked)
Some programs and commercial loans look at your track record: closing statements or leases from past investments.
The property
Purchase contract or current mortgage statement
The signed contract for a purchase, or your current statement for a refinance or cash-out.
Leases and rent
Current signed leases, or a rent roll for 2+ units. For short-term rentals, any booking or income history you have.
Insurance quote
A landlord or commercial policy quote, plus flood if the property needs it. HOA or condo association contact if it applies.
Commercial and mixed-use extras
Typically a rent roll, a trailing 12-month operating statement, a current-year profit and loss, and photos. The lender may order other reports.
Property tax and HOA amounts
Current tax bill and HOA dues, since they count in the payment the rent has to cover.
Have a deal in another state?
Tell me the property type, location and rents, and I’ll tell you quickly whether I can help where it is and which program fits. Commercial and non-QM business-purpose financing only outside Florida, where permitted.
Questions? Call or text Kareme Shorter at (954) 913-7865 · callkareme.com
General information, not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability. Requirements vary by lender and loan program.
Kareme Shorter, Mortgage Loan Originator, NMLS #1722684 · Ascension Mortgage, Company NMLS #2511500 · Equal Housing Opportunity. Residential mortgage loans are offered in Florida only. Commercial and non-QM business-purpose (investor) financing may be available in other states where permitted; licensing varies by state. Verify licensing at nmlsconsumeraccess.org.