Can you get a DSCR loan with bad credit?

[Tavaris Council]

If you have a down payment can you get approved for a DSCR loan on a duplex? If so, how much down payment should I be ready to put down? Thank you all in advance for your help.

[Tom S.]

@Tavaris Council  Agreed with the above post, I have a few duplexes and they're commercial loans.  But they require a personal guarantee and therefore they used my personal credit to qualify.  Depends a lot on what you mean by "bad credit".  I recall when I applied I had a 30 day late from 5 years ago, and they were able to document and overlook that.  I applied for commercial because the place wasn't livable and I needed purchase + rehab financing.

All that said, with the pandemic lenders are generally tightening lending standards.  Even with credit cards I read a recent article 1/3 of people have reported lenders lowering credit limits or closing accounts.