The Requirements Vary by Lender
Most BRRRR investors hear one set of requirements and assume they're universal. They're not. Conventional lenders follow Fannie Mae guidelines. DSCR lenders set their own. The gap between the two is the entire reason DSCR became the dominant BRRRR refinance vehicle.
Conventional BRRRR Refinance Requirements
- 12-month seasoning from original purchase date
- W-2s, tax returns, and pay stubs required
- DTI calculation: personal debts counted against you
- No LLC closing: must be individual borrower
- Max 10 financed properties
- 12 months of rental history may be required
For most active BRRRR investors, self-employed, LLC-structured, multiple properties, conventional refinancing is effectively unavailable. The guidelines were written for primary residence borrowers, not portfolio builders.
DSCR BRRRR Refinance Requirements
DSCR Requirements at Get Brick Capital
- ✓Credit score: 660+ FICO standard
- ✓DSCR: 0.75+ (projected market rent)
- ✓Seasoning: None
- ✓Lease: Not required
- ✓Income docs: None
- ✓LLC closing: Standard
- ✓Properties: No count limit
The Three Requirements That Actually Matter
1. Credit Score
Standard program: 660+ FICO. 680+ FICO qualifies for up to 80% LTV. 660–679 FICO qualifies for up to 70% LTV. Program 7 extends to 650+ FICO at 75% LTV and 500+ FICO at 50% LTV for LTR 1–4 units.
2. DSCR Ratio
The property's projected monthly rent divided by the new loan's PITIA must be at least 0.75 on the expanded program or 1.0 on the standard program. We use the appraiser's market rent schedule: no lease required.
3. Property Condition
The property must be in rent-ready condition at the time of appraisal. The appraiser needs to confirm the after-repair value and complete a market rent schedule. Active renovation or significant deferred maintenance will affect the appraisal outcome.
What You Don't Need
- W-2s, tax returns, or pay stubs
- A signed lease or tenant in place
- Any seasoning or ownership waiting period
- Employment verification
- DTI qualification
- Personal income of any kind
Timeline
Average close time: 28 days from complete application. The appraisal, typically 5–10 business days, is the longest step. Submit your deal the day renovation is complete to start the clock immediately. No income documentation means no back-and-forth on tax transcripts or employment verification: the file moves straight from appraisal to underwriting.