Apartments Loan – DSCR Options

Multi-Family Units

A multi-family property, or multi-dwelling unit (MDU), is a residential building with more than one rentable space. The most common examples are duplexes, triplexes, quadplexes and types of condos

Loan Terms
loan AMOUNT $150k to $3.5mm
ltv purchase Up to 80% LTV
LTV refinance MAX 75% LTV on Rate /Term & Cash-Out
amortization 30 year amortization schedule
terms 7/6 ARM, 10/6 ARM, & 30 YR Fixed
*interest only options available for ARM’s
recourse Full recourse. Personal guarantee required on all owners
DSCR requirement 1:1 or greater
vesting Lending to individuals, LLCs, corporations and trusts*
time to close 30 to 45 days

Product Name	Target Property Type / Use Case	Qualification Highlight
DSCR Investor Loan	General real-estate investments (rental properties, long-term or multiunit)	Qualifies based on property’s rental income vs. mortgage payment—personal income verification not required
Short-Term DSCR Rental Loans (STR)	Vacation rentals, Airbnb, VRBO, etc.	Based on short-term cash flow; streamlined qualification—no W-2s or tax returns required
Long-Term DSCR Rental Loans (LTR)	Buy-and-hold rentals: apartments, condos, long lease tenants (6 months+)	Qualification based solely on DSCR, with no lender fees
Multi-Family DSCR Loans (MFU)	Duplex, triplex, quadplex—multi-unit apartment buildings	Through the “NONI” product: scalable multi-unit investments, DSCR-based loans

DSCR

Purchase & Rate/Term

Refinance Options:

1-4 Units
- Max Loan Size: $3,000,000
- DSCR: ≥ 1.00
- Max LTV: 80%
- Min FICO: 700
- Min Reserves: 3 Months

Program	Reserve Requirement	ideal borrower profile
Investor flex Pink	~3 months PITIA	– Wants lowest reserve requirement – Strong credit/DSCR – Keeps cash free for other deals/repairs
Investor Flex Yellow	~6 months PITIA	– Comfortable tying up moderate reserves – Balanced risk/liquidity – Standard buy-and-hold investor
Investor Flex Blue	~12 months PITIA (+ ~6 months per extra property)	– Has larger liquidity reserves – Owns or plans multiple financed properties – Needs stricter guideline flexibility
Investor Flex Orange	Varies (mid-to-higher reserves; scenario-dependent)	– Can meet higher reserve expectations Needs expanded eligibility (unique loan/property) Handles more complex investor scenarios

Eligible to close in an LLC

Basic DSCR Product Parameters

Minimum Loan Amount: $50,000
No Appraisal Waivers
Cash-Out Proceeds Limited to $500,000
Cash-Out Proceeds Can Be Used as Reserves

..Additional Key Guidelines ^[^2]:

One 30-day Late Payment Allowed in 24 Months

Investment Properties Only

Business Purpose Loan

75% Vacancy Factor for Unleased/Short-Term Rental

Prepayment Penalties Available

Not Permitted in West Virginia

DSCR Calculation

DSCR = Rental Income / Proposed PITIA

Rental Income Must Be ≥ 15% of New Mortgage Payment