Real estate investors often get stuck in the same place: the property makes money, but their tax returns don’t show it. Write-offs, depreciation, and multiple entities make personal income look thin on paper, and conventional lenders decline the file.
Tribune Funding’s DSCR loan program solves that problem. We qualify the loan on the property’s cash flow, not your personal income. No tax returns, no pay stubs, no personal debt-to-income ratio. If the rent covers the payment, you’re in the conversation.
What Is a DSCR Loan?
DSCR stands for Debt Service Coverage Ratio. It measures whether a rental property’s income covers its monthly debt payment.
DSCR = Monthly Rental Income divided by Monthly PITIAPITIA is principal, interest, taxes, insurance, and any HOA dues. A ratio of 1.0 means the rent covers the payment exactly. A ratio of 1.25 means the property earns 25% more than it costs to carry.
For example, a property renting for $2,500 per month with a $2,000 PITIA payment has a DSCR of 1.25.
Our program requires a minimum DSCR of 1.0. In select scenarios, we can go below that, including no-ratio loans where the rent does not fully cover the payment. These are reviewed case by case.
Program Highlights
Leverage is the same whether you hold a long-term rental (LTR) or a short-term rental (STR) like an Airbnb or VRBO property.
| Loan Purpose | Max LTV (Long-Term Rental) | Max LTV (Short-Term Rental) |
|---|---|---|
| Purchase | 85% | 85% |
| Rate & Term Refinance | 80% | 80% |
| Cash-Out Refinance | 75% | 75% |
| Term | Requirement |
|---|---|
| Loan amount | $100,000 to $2,000,000 |
| Minimum property value or purchase price | $150,000 |
| Minimum credit score | 680 |
| Minimum DSCR | 1.0 (no-ratio options in select scenarios) |
| Loan term | Full 30-year amortization, no balloon payments |
| Rate lock | Free 45-day lock, starting from the date the appraisal is paid |
| Income documentation | None. Property cash flow only; no tax returns or personal DTI |
The free 45-day rate lock is worth noting. Many lenders charge for extended locks or start the clock at application. Ours starts when the appraisal is paid, giving you real time to close.
Built for Investors Who Move Fast
The terms above get you approved. These features keep the deal moving.
- No personal income verification. DSCR loans require no proof of personal income. For short-term rentals, we use AirDNA projections to establish income, so a new Airbnb purchase can qualify before it has a booking history.
- Third-party appraisals accepted. Already have an appraisal? We accept third-party appraisals with no transfer letter required. That saves time and the cost of a second report.
- No source or seasoning of funds. We don’t ask you to trace where your down payment came from or how long it sat in an account.
- 30-day seasoning on refinances. Rate-and-term and cash-out refinances are available after just 30 days of ownership. That makes this a strong exit for fix-and-flip or BRRRR investors who want to pull equity out quickly.
- Finance through your LLC or corporation. Close in the name of a corporate entity to separate the asset from your personal name and help protect your identity.
- No cap on the number of loans. Many conventional programs stop at 10 financed properties. We don’t limit how many loans we can do for you.
- Rural properties okay. Properties outside major metros are eligible, a common sticking point with other lenders.
Who This Program Fits
- Self-employed investors whose tax returns understate their real income
- Portfolio builders who have hit conventional loan limits
- Short-term rental owners buying or refinancing Airbnb and VRBO properties
- Fix-and-flip and BRRRR investors refinancing out of short-term debt
- Investors who prefer to hold property in an LLC
Example scenario: An investor buys a $400,000 single-family rental at 85% LTV, a $340,000 loan with $60,000 down. Market rent is $3,200 per month and the estimated PITIA is $2,900. The DSCR is about 1.10, above the 1.0 minimum. The loan closes in the investor’s LLC with no tax returns reviewed.
Figures are illustrative only. Your payment depends on the rate, taxes, and insurance at the time of your loan.
Get a Quote on Your Deal
Rates move daily, and pricing depends on your credit score, LTV, DSCR, and property type. Send us the property address, purchase price or estimated value, expected rent, and your credit range. We’ll match it against the current rate matrix and come back with real numbers.
Email loans@tribunefunding.com or start your application on TribuneFunding.com.
Program terms are subject to change without notice and are not a commitment to lend. All loans are subject to credit approval, property eligibility, and underwriting review. DSCR loans are for business-purpose investment properties only and are not available for owner-occupied homes.
