LOAN PRODUCTS
Rental Property DSCR LOANS
Dominion Financial offers 30-Year Rental Loans with competitive rates and superior service. Work with someone who understands your business.
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Rates As Low As 6.99%*
LLC's Welcome
Cash-Flow Based Approval
No DTI
PROGRAM HIGHLIGHTS
- 6.99%* Rate | 30-YR Fixed-Rate | at 75% LTV
- Rate Locks Available
- No Call. 30-Year Amortization
- For Cash-Out Refis, Rate-And-Term Refis, and New Purchases
- Up to 80% LTV, Cash-Outs Eligible
- 2.0% Origination Fee
- No Tax Returns Required
- 680+ FICO Score
- $100,000 Minimum Property Value
- 1-9 Unit Residential
- Eligible Entities: LLCs and Individuals
- Prepayment Penalty: Declining Points
- Available In All 50 States & D.C
*7.227% APR
WHAT IS A DSCR LOAN?
A Debt-Service Coverage Ratio (DSCR) loan is based upon cash flow from rental income. Approval for the 30-Year Rental Loan will occur if there is enough cash flow from the rental income received on a particular property to cover the outstanding monthly debt on the property.
In order to qualify for a DSCR loan from Dominion Financial, the rental income needs to be 120% of the monthly expenses including but not limited to principal, interest, taxes, insurance, and any additional dues. You do not need to provide pay stubs, tax returns, or show income to qualify.
TOP 5 INVESTOR BENEFITS
30-Year Term with 30-Year Amortization
- These loans are great for people who want to buy and hold for the long term. Keep monthly payments down and enjoy rates similar to a conventional loan.
No Debt-To-Income Calculated
- That means no Paystubs or Tax Returns required to qualify. These are “low-doc” loans that will save you the hassle and time.
Approval Based On Cash Flow
- Approval Is Based Upon Property Cash-Flow, not your income. This will enable you to scale your business quickly.
LLCs Welcome
- A loan made for business owners… Protect your identity and shield yourself from liability.
From One Property to an Entire Portfolio…
- Large Portfolios Welcome. Or individual properties. If you own SFRs, we have a solution for you.
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important things you should know
FREQUENTLY ASKED QUESTIONS
Dominion Financial’s rental loan programs are built to help real estate investors scale long-term portfolios with speed, flexibility, and confidence. With DSCR-based qualification, competitive pricing, and our Price-Beat Guarantee, Dominion Financial is committed to delivering some of the best rental loan pricing in the market. Financing is available for single-family rentals and small multifamily properties nationwide.
Available in: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, and Washington, D.C.
The main benefit of a DSCR loan is that it is based on borrower credit and property cash flow, not the borrower’s personal income. DSCR loans are considered to be “low-doc” loans in comparison to conventional loans which require more documentation in order to proceed with the loan.
A conventional loan is often difficult for Real Estate Investors to achieve as they require specific guidelines in order to meet the criteria of Fannie Mae and Freddie Mac. However, a conventional loan is appealing to those who qualify as they may be able to receive a lower interest rate.
To qualify, you must have a minimum FICO score of 640. Your credit score will determine the rate you are quoted.
The maximum LTV is 75% and will vary based upon your creditworthiness, the property location, and the property Debt Service Coverage Ratio.
Yes, we do.
Our main program is for single-family and multifamily up to 4 units. Sometimes we are able to fund a property above 5 units but that is not our fastball. If we can, it would be a 30-year fixed-rate mortgage. We don’t lend in NV. All of our loans are recourse loans. For short-term multifamily funding, we offer Multifamily Bridge Loans.
There is a 6 months seasoning period. After 6 months there are no LTC restrictions. Prior to 6 months, we can refinance the lessor or 85% of total cost vs 75% of LTV.
No, we do not, only non-owner-occupied residential properties.
