How to qualify for a No-doc Rental Property Loan

Darrin Seppinni
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Buying or refinancing investment property is a breeze with our No income documentation Rental Loan programs

Simple qualifying, less hassle, low rates, better long-term advantages

No-doc rental loans are mortgages designed just for real estate investors. They allow you to qualify without income documentation.

No-doc DSCR rental loans are a good option for real estate investors because they don’t base your qualifications on tax returns, pay stubs, W-2’s or any other documentation. Instead, the focus is on the property’s cash flow and its market rent (as determined by an appraisal) – meaning the difference between the property’s income and its expenses.

Here’s how DSCR works: the debt service coverage ratio is the ratio of income derived from a property (i.e., rental income) to debt servicing, which includes your principal and interest payments, property taxes, and insurance (also known as PITI). HOA dues are also included when appropriate.

The equation for DSCR is Rents/ PITI + HOA Dues = DSCR

Here’s an Example

Say your rental income is $5,000 per month, and your new payment, taxes, insurance, and HOA dues total up to $4,000. In this case, your DSCR would look like this:

$5,000 (rents) / $4,000 (PITI) = 1.25 DSCR

In this scenario, you’d have a DSCR well above 1.1, thereby qualifying you for your no-doc rental loan



If your DSCR is low, meaning your rents won’t cover your payments, don’t fret. With the current hot real estate market, many times, rents have not yet caught up to property values. If this is the case in your scenario, your DSCR may be lower than 1.1

Fortunately, you can still qualify for a no-doc rental loan without a DSCR – or your rental income. To do so, you will need a minimum credit score of 700 and 25% down payment. You will also be limited to 75% loan-to-value ratio on refinance loans

Here are a few of the benefits you’ll enjoy with our No-doc Rental Loan options:

  • Low Interest Rates for Many Years: No-doc rental property loans with us start in the mid 6% (range on 30-year, fixed-rate terms, or a 40-year fixed-rate-interest only 10 year I/O period
  • Quick Closing Times: Investors can get pre-approved for a loan in just 24 hours or less, plus closing is guaranteed by day 30
  • Small Down Payments: with our no-doc rental loans, you can put as little as 20% down and still qualify for low rates and extended terms
  • Cash-outs are available fast: you can get a cash-out refinance on your rental property just three months into ownership
  • The title is flexible: Your property can be purchased or refinanced under an LLC, corporation, or your individual name
  • Property Types: single family residence, condominiums, 2-4 units
  • $250,000 to $5 Million loan amounts



Apply for your No-doc Rental Property loan today

We’ll get you pre-approved in just 24 hours.

Get Pre-Approved Now


More Content For You:

Benefits of Using a No Doc Rental Loan to Refinance a Rental Property

What are No-Doc Rental Loans and Who are They for


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About HomeLife Mortgage

For more than 25 years, HomeLife Mortgage has built a strong reputation in California and Florida as a leading mortgage broker, servicing the needs of borrowers who have been unable to obtain conventional financing.  HomeLife Mortgage is at the forefront of non-bank lending offering the next generation of mortgages including Jumbo Loans, Real Estate Investor Loans, and Bank Statement Loans.


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