What Documents Do You Need for a DSCR Loan?
Fewer than for a conventional loan. Lenders with published DSCR programs say they don't need your tax returns or W-2s; the file centers on the property, with an appraisal used to confirm its value and its rent. None of the three published lender programs we reviewed lists a complete checklist, so ask each lender for its list before you apply.
Last updated October 13, 2026What you probably won't need
Personal income paperwork. Lenders with published programs say they qualify on the property's rental income instead of tax returns or W-2s. One lender also says it does no hard credit pull and has no minimum liquidity requirement.
What lenders want for the property
An appraisal, mostly. One lender requires an appraisal to verify both value and rental income. Another sets rental income from an appraiser's market rent analysis or from automated rental valuation models.
If you're borrowing through a company
Ask what the lender needs to see. One lender lets you borrow as an individual or through an LLC, with title in a partnership, corporation, S corporation or revocable trust depending on the program. Another allows LLCs, corporations or trusts subject to its guidelines.
How that compares with a conventional loan
A conventional loan asks more of you. Fannie Mae's Selling Guide has the lender document your rental income on worksheets such as Form 1038, support the lease with an appraiser's rent schedule (Form 1007 or Form 1025) and document that the lease terms are in effect. For the full comparison, see DSCR vs. a conventional investment property loan.
| Tax returns and W-2s | Not what published DSCR programs qualify on |
|---|---|
| Appraisal | Used for the property's value and its rent |
| Rent estimate | Appraiser's market rent analysis or automated rental valuation models, depending on the lender |
| Company borrowers | Allowed by some lenders, with their own entity rules |
| Full checklist | Not published by the lenders reviewed; ask each one |
Related questions
Sources
- https://selling-guide.fanniemae.com/sel/b3-3.8-01/general-rental-income-information
- https://selling-guide.fanniemae.com/sel/b3-3.8-02/rental-income-subject-property
- https://www.kiavi.com/loans/dscr
- https://angeloakms.com/programs/investor-cash-flow-mortgage-program/
- https://www.griffinfunding.com/non-qm-mortgages/dscr-loans/
Sourced from licensed loan officers and brokers in the FreeRateUpdate network.
Educational information only, not individualized financial or legal advice. Program details and rates change; verify current terms with a licensed loan officer before making a decision.