DSCR Docs Requirement

[Dilcia Morales]

Hello Fellow Investors,

I am excited to be under contract for my first STR property, but I am getting nervous about the many things I'm already discovering. I am surprised that my lender is asking me to access Social Security Records and a tax transcript. Since this is a DSCR loan and I already provided account statements with proof of funds and my mortgage statement for the principal residence, I didn't expect much more would be required. I have no issues, but I didn't need to provide so much information, even for a conventional loan. I appreciate any feedback. Thank you.

[Dilcia Morales]

@Christian W Camposi

Thank you.

I understand running the credit, and I have no issues with that. I am just surprised they require more documentation on a DSCR than a standard conventional loan. I might as well go for the traditional loan, I guess. I do not see any difference in the requirements, and I'll probably get a better rate. Let the adventure begin :)