Can I get a DSCR loan on a property that is livable but needs rehab from flooding?

[Phillip Rosin]

Purchase price 245K ARV 425K. Market rent 2500/month. Home passes 4pt but has a few feet of drywall removed in several rooms and the lower kitchen cabinets removed. There is a working sink and all appliances are working. Current owners are still living there and need to stay for 30 days after closing. I will then go immediately into renovations, for which I have proof of funds.

Will some lenders allow a DSCR loan on this property as is? Thank you.

[Robin Simon]

Quote from @Phillip Rosin:

Purchase price 245K ARV 425K. Market rent 2500/month. Home passes 4pt but has a few feet of drywall removed in several rooms and the lower kitchen cabinets removed. There is a working sink and all appliances are working. Current owners are still living there and need to stay for 30 days after closing. I will then go immediately into renovations, for which I have proof of funds.

Will some lenders allow a DSCR loan on this property as is? Thank you.

Generally its likely not going to qualify for DSCR if it has any rehab, typical rule of thumb is no more than $2,000 in "deferred maintenance" or needed fixes/rehab on the appraisal inspection for a DSCR qualification. Might be able to find an exception somewhere (might have to reduce LTV/value by amount), but typically pretty black and white for DSCR regarding no rehab needed