LAMD-D28 Foreign National DSCR | DSCR Guidelines

Loan limits

Lien position: First lien
Minimum credit score: 680 if US credit exists; otherwise no FICO
Max LTV – purchase: 75% (≤$1M, DSCR ≥1)
Max LTV – rate/term refinance: 70%
Max LTV – cash-out refinance: 65%
Minimum loan amount: $125K
Maximum loan amount: $3.0M
Cash-out (cash in hand) limit: Max $500K.
LTV reductions & overlays: 0x60x12 housing: −5%. Condotel 70% purchase / 60% refi. Non-warrantable condo 70% / 65%. Short-term rental 70% (purchase). Vacant refinance 65%. Declining market −5%. No-FICO grid: 75% purchase / 70% rate-term / 65% cash-out at DSCR 1.00+ up to $1M, stepping down to 60/55/50 at $3M.

DSCR requirements

Minimum DSCR: Below 0.75 allowed
DSCR below 1.00: Yes – 0.75–0.99: 70/65/65 (≤$1M); <0.75: 70/65/65 (≤$1M), 70% purch ≤$1.5M
No-ratio (no DSCR calculated): Yes (<0.75 tier)
How DSCR and qualifying rent are calculated: Gross rent ÷ PITIA (principal, interest, taxes, insurance, HOA); interest-only uses ITIA. ARMs qualify at the greater of the fully indexed rate or note rate. Market rent from the 1007 rent schedule is required.

Products & terms

Products: 30yr fixed, 30yr fixed IO
Interest-only: Yes – DSCR ≥1.0, 30yr fixed IO
Prepayment penalty: Where permitted
Reserves: 3 months $125K–$500K, 6 to $1M, 9 to $2M, 12 to $3M; cash-out can count.

Borrower & credit

Housing payment history: 1x30x12; 0x60x12 allowed with a 5% LTV reduction.
Credit events (BK, foreclosure, short sale, modification): Applicants with US credit need a 680 FICO; at least 2 tradelines open 12 months within the last 24.
Forbearance, deferrals & modifications: N/A
Collections, charge-offs, judgments & liens: N/A
Tradelines & credit depth: N/A
First-time homebuyer: Not published – ask us about your scenario
First-time investor: No – 12 mo investor experience in last 36 mo
Foreign national: Professional investors only (12 months owning/managing income property within 36 months). Foreign nationals holding an ITIN are ineligible; asylees ineligible. Gifts not permitted. Interest-only only with DSCR 1.00+.
ITIN borrower: No (FN with ITIN ineligible)
Non-permanent resident: No
LLC / entity vesting: LLC, LP, GP, Corp with personal guarantee
Gift funds & assets: Not permitted.
Financed property / exposure limits: No add-on reserves
Other borrower rules: N/A

Property

Eligible property types: SFR, PUD, 2-4, warrantable & non-warrantable condo, condotel
ADUs & unpermitted additions: Not published – ask us about your scenario
Non-warrantable condo: 70% purch / 65% refi
Condotel: 70% purch / 60% refi
Rural / acreage: Rural properties not eligible.
Minimum square footage: Not published – ask us about your scenario
Mixed use: Not published – ask us about your scenario
5+ units / multi-property: No
Ineligible properties: Manufactured homes, co-ops, unique properties with marketability concerns, and rural properties over 20 acres (rural not allowed at all on the foreign national and ITIN versions).
Declining markets: Declining market per appraisal: at least 5% LTV reduction.
Appraisal, review & insurance: Standard appraisal with 1007 rent schedule; an additional appraisal or third-party review may be required (e.g., non-arm's-length or declining markets). Escrow holdbacks and temporary buydowns not permitted. Manual underwriting only.

Rental income

Rent used on a purchase: 1007 required
Rent used on a refinance: Not published – ask us about your scenario
Vacant / unleased refinance: Allowed at max 65% LTV.
Short-term rental (Airbnb/VRBO): Yes – purchase
Short-term rental documentation: Not published – ask us about your scenario
Short-term rental limits: Max 70% on purchase.

Refinance seasoning

Cash-out seasoning: Not published – ask us about your scenario
Delayed financing (cash purchase recoup): Not published – ask us about your scenario
Recently listed for sale: N/A

Other terms

Seller / interested-party concessions: N/A
Secondary financing: Not permitted.
State & local restrictions: All states; American Samoa, Guam, Northern Mariana Islands, Puerto Rico and USVI are ineligible.

Additional details

Notes: Declining market −5%. No manufactured/co-op. No subordinate financing or buydowns. Manually underwritten.

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These are summaries of DSCR (debt service coverage ratio) loan programs offered through L.A. Mortgage Dude, NMLS #2513002, licensed in Arizona, California, Colorado, Florida, Georgia, New Jersey, North Carolina, Oregon, Pennsylvania, Texas, Washington and Virginia. Not all programs are available in every state. Program codes are internal names. Limits shown are maximums or minimums before scenario-specific adjustments; actual terms depend on credit, property, appraisal, reserves and full underwriting. This is not a commitment to lend, a loan approval or a rate quote. Guidelines change without notice. Business-purpose investment property loans only. Equal Housing Opportunity.

Guidelines last reviewed October 17, 2026. Machine-readable copy: dscr-guidelines.json · llms.txt