How borrowers qualify for real estate financing.

Different direct lenders, different qualification paths. No-credit, low-credit, full-credit, investment property, owner-occupied, international — Ask Speedy filters routing by qualification fit so ISOs and brokers submit only to direct lenders likely to fund.

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The factors

What direct lenders evaluate.

FICO score

Most direct lenders care, but floors vary widely: 600 for some hard money, 620-680 for DSCR, 700+ for conventional. Lower scores = higher rate or more down.

Income documentation

Tax returns (full doc), bank statements (low doc), or none (no doc). DSCR specifically does not require personal income — only property rent.

Property NOI / DSCR coverage

For DSCR loans: Net Operating Income / Annual Debt Service. 1.0 = breakeven. Most lenders require 1.0-1.25 minimum. Higher DSCR = better rate.

LTV / ARV

Loan-to-Value (or Loan-to-Cost on construction, After-Repair Value on fix-and-flip). 65-80% typical depending on product and asset.

Sponsor / borrower experience

For commercial and construction — number of past deals, asset class experience, financial strength. Some lenders require 2-3 prior deals.

Entity structure

LLC, S-Corp, individual, trust. Investment property typically titled in LLC. Owner-occupied usually individual. Lender preferences vary.

Six qualification paths

Where each borrower profile lands.

Profile	Best products	Rate range
No credit / 580 FICO	Hard money, private money, asset-based	10-14%
Low credit (580-660)	DSCR (some), hard money, non-QM	8.5-11%
Mid credit (660-720)	DSCR, non-QM, bridge	7-9%
High credit (720+)	DSCR, conventional, agency	6-7.5%
Self-employed (1099/biz owner)	Non-QM bank statement, DSCR, asset-based	7.5-9.5%
International / foreign national	DSCR, hard money, private money (specialized)	8-12%
Investor with LLC	DSCR, hard money, bridge, non-QM	6.5-12%
Owner-occupied (business purpose)	HELOC, owner-occupied business-purpose	7-9.5%

FAQ

Qualification, answered.

What FICO score is required for a DSCR loan?

Direct DSCR lenders on the platform have FICO floors ranging from 620 to 680. Lower-FICO DSCR programs exist at higher rates (typically 8-10%). Some lenders go to 600 FICO with 20-25% down and 1.0+ DSCR coverage.

Can someone with no credit history qualify for a real estate loan?

Yes. Asset-based hard money, bridge, and private money lenders underwrite to the property value, not the borrower. No-credit purchase loans typical at 10-14% rate, 65-75% LTV, 12-month term. The asset secures the loan.

Are international buyers and foreign nationals eligible?

Yes. Foreign national programs available across DSCR, hard money, and private money. Direct lenders quote based on property value, rental income (DSCR), and asset verification. ITIN-acceptable on many programs. International scenarios get specialized routing.

What documentation does an investment property buyer need?

Varies by tier. Hard money: minimal — entity docs, identity, property contract. DSCR: bank statements, rent rolls, entity docs. Non-QM: bank statements or 1099/W2 income (low doc). Conventional: tax returns, paystubs, full doc. Speedy filters routing by doc tier match.

How does qualification differ for owner-occupied vs investment property?

Owner-occupied loans (consumer mortgages) are tightly regulated under Dodd-Frank — full doc, ability-to-repay rules, longer process. Investment property (business-purpose) loans have far more flexibility — DSCR, hard money, non-QM, asset-based all available.

Qualify it. Then route it.

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Updated 2026-05-10