Is it possible to get DSCR Loan without credit score and other factors?

[Duarte Marques]

Hey BP community, I'm new to real estate investing and have been studying (reading books, watching webinars, constructing excel cash flow models,...) close to a year. I'm a recent graduate and I was wondering how can I get access to a DSCR loan without having a credit score, not being an us citizen, now owning a house (some DSCR loans require that you own at least one other house) and not having a job. Is it possible?

[Robin Simon]

Quote from @Duarte Marques:

Thanks for the fast reply @Chris Seveney

Any tips on how to start investing in real estate? I was looking at DSCR loans because they don't require extensive checks like the bank loans and they "only" look at the income generated from the property to qualify for the loan. So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up. Based on this of course it would still be risky, specially being the first time but better start somewhere than just keep analysing properties right?

Its a bit of a misnomer and misunderstanding of DSCR that its "only" based on the income the property generates and this creates a lot of confusion. I'd recommend reading these articles on BP for answers to all your questions!

DSCR Loans: What Are They And How To Get The Best Terms

https://www.biggerpockets.com/...

DSCR Loans: How To Use Pro Strategies To Save More And Make More

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Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

https://www.biggerpockets.com/...

12 Frequently Asked Questions (And Answers) About DSCR Loans

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8 More Commonly Asked Questions and Answers to DSCR Loans

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What Documents Do You Need for a DSCR Loan?

https://www.biggerpockets.com/blog/what-documents-do-you-nee...

BRRRR Loans: What Are the Options, and How Do DSCR Loans Stack Up?

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

Short-Term Rental Loans: What Are the Options and How Do DSCR Loans Stack Up?

https://www.biggerpockets.com/blog/short-term-rental-loans-a...

DSCR Loans: Terms to Know When Working With These Popular Rental Loan

https://www.biggerpockets.com/blog/dscr-loans-terms-to-know

What’s Next For DSCR Loans? Updates For 2024 and Beyond

https://www.biggerpockets.com/blog/what-is-coming-in-2024-fo...