Andrade Real Estate Services

The DSCR Program allows real estate investors to pull cash out of an investment property based on rental income rather than personal income. Qualification is determined by the property’s cash flow compared to the new mortgage payment (DSCR). This program provides a flexible way to access equity for reinvestment, debt consolidation, or other business purposes—without requiring tax returns, W-2s, or pay stubs.

This program is ideal for buyers who:

Prefer to show no income documentation.
Qualify primarily through property cash flow (DSCR-based).
Refinancing investment properties (1–4 units) to access equity (cash-out)

Ratio	Credit Score	Max LTV	Max Loan
DSCR ≥ 1.00	700+	75%	$1M
DSCR ≥ 1.00	660–699	70%	$1M
DSCR ≥ 1.00	640–659	60%	$1M
DSCR ≥ 1.00	600-639	55%	$1M
DSCR 0.99–0.75	680+	70%	$1M
DSCR 0.99–0.75	640–679	60%	$1M
DSCR 0.99–0.75	620-639	55%	$1M
DSCR 0.99–0.75	600-619	50%	$1M
No Ratio (<0.75)	680+	70%	$1M
No Ratio (<0.75)	640–679	60%	$1M

Ratio	Credit Score	Max LTV	Max Loan
DSCR ≥ 1.00	700+	75%	$1M-$1.5M
DSCR ≥ 1.00	660–699	70%	$1M-$1.5M
DSCR ≥ 1.00	640–659	55%	$1M-$1.5M
DSCR ≥ 1.00	620–639	50%	$1M-$1.5M
DSCR 0.99–0.75	700+	70%	$1M-$1.5M
No Ratio (<0.75)	700+	60%	$1M-$1.5M

Ratio	Credit Score	Max LTV	Max Loan
DSCR ≥ 1.00	700+	70%	$1.5M-$2M
DSCR ≥ 1.00	660–699	65%	$1.5M-$2M
DSCR 0.99–0.75	700+	65%	$1.5M-$2M
No Ratio (<0.75)	740+	60%	$1.5M-$2M

Ratio	Credit Score	Max LTV	Max Loan
DSCR ≥ 1.00	660+	65%	$2M-$2.5M
DSCR ≥ 1.00	640+	65%	$2.5M-$3M

Occupancy Requirement
Primary residence Borrower may not occupy or allow family members to occupy the subject property.
Note First-time investors are eligible with recent prior homeownership experience, even if no property is currently owned.

First Time Investor
Definition A first-time investor is defined as a borrower without a history of owning and managing investment or commercial real estate for at least one year in the past three years.
Requirement 680 minimum credit score, No housing late payments allowed in the past 12 months, Subject to standard DSCR and reserve requirements.

Residency Eligibility
Eligible Valid SSN — must have a valid Social Security Number (SSN). Permanent residents — must provide a valid, unexpired Green Card. Non-permanent residents — eligible with valid visa or Employment Authorization Document (EAD).
Ineligible Foreign nationals who do not reside in the U.S. are ineligible, Borrowers with one or more housing late payments in the past 12 months, Borrowers without a social security number, or with a number that cannot be validated through the SSA are ineligible. Borrowers with diplomatic immunity are ineligible. Borrowers with expired residency or ID documentation are ineligible. Borrowers previously convicted of mortgage fraud are ineligible.

Income Consistency Requirements
Employment History You don’t need to show personal income, pay stubs, or tax returns, this program qualifies you based on the property’s monthly rental income instead. This rental income is compared to the monthly mortgage payment (including taxes and insurance) to make sure the property can cover its own costs.
Notes DSCR ≥ 1.00: The property makes enough money to fully cover the mortgage payment. This is ideal and qualifies for the best terms. DSCR 0.99–0.75: The property almost covers the payment, but not completely. You can still qualify, but you may need a slightly larger down payment. No-Ratio (< 0.75): The property doesn’t make enough to cover the payment. These are reviewed individually depending on credit and loan size.

Reserves
Requirement No reserves required if loan amount is less than $1,500,000. 2 months PITIA required if loan amount exceeds $1,500,000. 6 months PITIA required if loan amount exceeds $2,500,000.
Note Cash-Out can be used to satisfy reserves requirements.

Cash-Out Restrictions
> 65% LTV Up to $600,000 cash-out amount.
≤ 65% LTV Up to $1,000,000 cash-out amount.

Loan Amounts
Minimum Loan Amount $125,000.
Maximum Loan Limits $3,000,000.

Property Types
Eligible SFRs (Single-Family Residences), 2–4 Units (must occupy one unit), PUDs (attached/detached), Condominiums (attached/detached; warrantable only. Non-warrantable considered case-by-case), Condo Hotels or Motels (projects operated as hotel/motel, hotel/motel conversions).
Ineligible Manufactured homes, Rural properties, Commercial property, Vacant land or land development properties, Mixed used properties.

Disclaimer – This matrix was published on 09/20/2025. Program guidelines may have changed since then. Please contact Alexis to confirm the most current requirements. For complete details, refer to the Partner Matrices PDF or reach out directly to Alexis for program-specific guidance.

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