Investor & DSCR Loan Checklist

The property

• Expected market rent or a current leaseThe appraiser may complete a rent schedule.
• Property taxes, insurance and HOA duesThese are part of the payment used to figure the ratio.
• HOA or city rental restrictionsSome condos and cities limit short-term rentals.
• Short-term rental plans, if anyAsk how short-term rental income is treated. Guidelines vary by program.

Your entity If closing in an LLC

• Articles of organization
• Operating agreement
• EIN letter from the IRS
• Certificate of good standingFor Florida LLCs, check status at Sunbiz.org.

Your funds and credit

• Bank statements showing down payment and reserves
• Credit review
• List of other properties you own

Run the numbers

• Use the DSCR calculator on this siteEnter your own rent, payment inputs and rate.
• Ask your loan officer about minimum ratios and reservesRequirements vary by program.

Notes