No Tenant.No Lease.Qualify on Projected Rent.
- No executed lease required: appraiser confirms market rent
- No income docs: rental income qualifies you, not your W-2
- Up to 80% LTV with 680+ FICO
- Sub-1.0 DSCR available on expanded program
No tenant yet but ready to pull equity? We qualify on projected market rent: not an executed lease.
Submit Deal Summary →No credit pull · Rates within 24 hours · Consistent 28-day closings
Quick Qualify
The Situation
How Projected Rent Qualification Works
When you apply for a DSCR cash-out refinance, we order an appraisal. The appraiser completes a market rent schedule, a Form 1007 for single-family properties, estimating what the property would rent for based on comparable rentals in the area.
We use that projected market rent figure to calculate your DSCR. If projected rent divided by the new loan's PITIA is 0.75 or above, your refinance qualifies. No lease. No tenant. No rental history.
This matters most for investors who: just completed a renovation and haven't placed a tenant yet, own a property between tenants, or want to refinance before committing to a long-term lease.
Requirements
What You Need to Qualify
Lease Required
None
Min Credit Score
660 FICO
Max LTV (680+ FICO)
80%
Max LTV (660–679 FICO)
70% Standard
Min DSCR
0.75 (Expanded)
Income Docs
None
Projected Rent Cash-Out FAQ
No Tenant? No Problem.
Qualify on projected rent. Submit your deal today.