No-ratio loan — DSCR not calculated
Is there a DSCR loan that does not calculate a coverage ratio at all?
A "no-ratio" loan is a specific, published thing: a lender stating its minimum DSCR is 0.00, meaning the ratio itself is not what qualifies the deal. That is different from a lender that simply has not said what its floor is.
- No-ratio DSCR loan A lender publishing a 0.00 minimum DSCR has stated, in writing, that the coverage ratio is not the qualifying test — a genuinely different program from a standard DSCR floor.
- A standard DSCR loan with an unpublished floor A lender that simply has not published a DSCR minimum is not the same as one that has published a true no-ratio program — the first is an unknown, the second is a stated policy.
Lenders in the directory
Who publishes criteria this deal clears
Matched across all 37 lenders in the directory on published minimum DSCR. This list is computed from stored criteria, not curated — it changes when a lender’s published figures change.
Writes the product, has not published the threshold
These 16 carry a relevant product but have not published the figure this scenario depends on, or carry no verification date. We will not claim they qualify and we will not claim they do not — ask them directly.
What actually counts as no-ratio here
This page matches on a published minimum DSCR of 0.00 — a lender explicitly stating the coverage ratio is not the test being applied. That is a meaningfully different, and stronger, claim than a lender that has no published DSCR figure at all, which this directory treats as unpublished rather than as evidence of a no-ratio policy.
Why the distinction matters for a low-DSCR property
A property that does not clear a standard DSCR floor is not automatically a fit for every lender whose minimum is simply unlisted — an unlisted floor could turn out to be 1.0 or higher once asked. A published 0.00 minimum is the one figure in this directory that removes that uncertainty by design.
What a no-ratio program still checks
Removing the DSCR test does not mean removing underwriting. Credit score, leverage, and reserves are still reviewed, and a no-ratio program commonly asks for more of one or more of those in exchange for not testing the ratio — the specific tradeoffs are lender-specific and not published as a general formula here.
What to have ready
- Your credit score, since a no-ratio program still reviews it
- Reserves documentation, often reviewed more closely when the ratio test is removed
- A clear leverage target, since maximum LTV on a no-ratio program is frequently lower than on a standard DSCR product
Questions
Is "no-ratio" the same as "DSCR not required"?
Does no-ratio mean no underwriting?
Is a lender with an unpublished DSCR floor also a no-ratio option?
Terms used on this page
- Debt Service Coverage Ratio (DSCR) — DSCR is a property’s gross monthly rent divided by its total monthly mortgage payment. A DSCR of 1.00 means the rent exactly covers the payment; 1.25 means rent exceeds the payment by 25%.
- No-Income-Verification Mortgage — A no-income-verification mortgage qualifies a borrower without tax returns, W-2s or pay stubs. On investment property this generally means a DSCR loan, which qualifies on the property’s rent instead.