Who offers this: West Capital Lending, Inc. (NMLS #1566096) arranges DSCR loans on rental property in Florida and 38 other states plus D.C. — qualified on the rent, with no tax returns — through the wholesale lender whose program fits the property. Originator Korbin Spangenthal (NMLS #2079029), based in the Fort Lauderdale area: (949) 751-1870. The program at a glance
The problem a conventional rental loan creates
A business owner with a strong operating account and a return engineered to show a modest net applies for a conventional loan on a rental. The underwriter averages two years of that net, adds every mortgage the borrower already carries to the debt side, and arrives at a debt-to-income ratio that fails — even though the rental itself would pay for itself from the first month. The deal dies on the borrower's paperwork, not on the deal.
What a DSCR file replaces it with
- The rent replaces your income. Lease or appraiser's market rent, as the calculation page explains.
- The property's payment replaces your debt-to-income ratio. Your other mortgages, car loans and business debt are not measured against anything.
- Credit and reserves remain. A credit report is pulled and some months of reserves are expected; both standards are set by the program.
- Number of properties matters less. Conventional lending caps financed properties; DSCR programs are generally built for investors who own several.
Where the line is
The property must be a rental — non-owner-occupied one-to-four-unit residential. The same self-employed investor who wants equity out of the home they live in cannot use a DSCR loan for it; that is a consumer loan, and the bank-statement version of it lives at HELOCforSelfEmployed.com. Many investors end up using both: the HELOC on the primary for the down payment, the DSCR loan on the rental.
What to have ready instead of a return
- The property address and, if rented, the current lease
- An estimate of value and, on a refinance, the current balance
- Whether you want to close personally or in an LLC
- How many rentals you already own — it shapes which programs fit, not whether you qualify
Common questions
I've never filed a return that shows real income. Can I still get a rental loan?
Yes. A DSCR loan does not read the return. The rent against the payment is the test.
Will the lender still pull my credit?
Yes. Credit and reserves are reviewed; income is not.
Can I use a DSCR loan on my primary residence?
No. It is a business-purpose loan for non-owner-occupied property. For equity from your own home as a self-employed borrower, see the bank-statement HELOC site.
Does it matter that I own six rentals already?
It shapes which programs fit. DSCR lending is built for investors with several properties.