Home / DSCR / Your first rental does not need a landlord resume.
Updated September 2026
DSCR guide
Your first rental does not need a landlord resume.
A first DSCR loan is still rent divided by the payment. You do not need prior rental history to start the file. You do need a rent number we can use, a down payment, and reserves when the screen asks. A clean purchase often screens near 80% LTV. First-time investors can land lower, including screens that cap closer to 80% only when the rest of the file is strong. That is a guideline, not a promise you hit the top.
Sending a file is not an approval and not a credit pull. We text the same business day. We do not call. If we can structure it, we name the door. If we cannot, we say so.
The screen
| New landlord | What it means |
|---|---|
| Income docs | No W-2s and no tax returns on standard DSCR |
| Rent we use | Lower of lease or market. A made-up lease does not count |
| Cash | Down payment plus reserves, sourced |
| Leverage | Often near 80% purchase. Not automatic |
What we fund
- First purchase of a 1 to 4 unit rental
- A primary you are done living in, once it is a rental
- An LLC close if the entity file is ready
What we still need. Short list.
- Credit is still reviewed. A lower score changes leverage, it does not skip the file.
- Reserves and down payment, sourced, when that screen asks for them.
- Appraisal plus a lease, market rent, or a short-term rent schedule.
- Entity documents if you close in an LLC.
Questions
Do I need to already own a rental?
No. First-time investors are eligible on Flexible DSCR and on other screens. Leverage follows the guideline, not the fact that you are new.
Can I use rent I hope to get?
Only if the program accepts market rent or a real lease. A letter you wrote yesterday is not a lease.
Is the cash at closing just the down payment?
No. Closing costs and reserves sit on top. We text the cash number before you fall in love with the house.
Related
These are the guidelines we screen. They are not a promise that your file hits the maximum. Credit-event seasoning, occupancy, and property condition still have to be confirmed. Not a commitment to lend. We text. We do not call.