Why Does a DSCR Lender Want a Signed Lease?

You're under contract on a rental, and the lender keeps asking for the lease. It feels like paperwork. It isn't.

A DSCR loan qualifies the property on its rent instead of your income. DSCR is the debt service coverage ratio, the rent compared to the loan payment. So the lender needs proof of what the rent really is, and a signed lease is the cleanest proof there is.

If the unit's empty, many lenders will use the market rent an appraiser assigns instead. Some count that rent differently than a lease, and that can change how your numbers come out.

So send the lease with your file if you have one. If you don't, tell me up front and I'll look at lenders who work from market rent.

SixtyFour West places your deal with lenders whose rules it fits.