.png){kind=logo}
Disclosure: This page was written and reviewed by theLender. It is a first-party overview of theLender’s own loan options. It is not an independent review, rating, ranking, or endorsement. Product descriptions were reviewed against theLender’s consumer-facing guidance on July 21, 2026.
theLender offers investment-property and non-qualified mortgage (Non-QM) options for scenarios that may not fit conventional underwriting. The appropriate option depends on the transaction, property, borrower, state, documentation, and current program guidelines. Final underwriting and approved documents control.
Investor loan options
Long-Term Rental DSCR Loans
Long-Term Rental Debt Service Coverage Ratio (DSCR) Loans use eligible long-term rental income as part of the property-level analysis. These business-purpose loans are for eligible investment properties. The borrower and immediate family may not occupy the property. Purchase, rate-and-term refinance, and cash-out refinance scenarios may be considered under the current program guidelines.
A DSCR calculation compares eligible rental income with the applicable proposed housing expense. Credit, liquidity, appraisal, property characteristics, experience, vesting, and other underwriting requirements also affect eligibility. A ratio by itself does not determine approval or final terms.
Short-Term Rental DSCR Loans
Short-Term Rental DSCR Loans may be available for eligible vacation-rental investment properties. Qualifying rental income must be established through the valuation and documentation methods required for the specific scenario under current guidelines. When multiple income sources or reports are required, the current program rules determine which amount may be used. An estimate from a rental-data provider does not establish qualifying income by itself.
Multifamily DSCR Loans
Multifamily DSCR Loans address eligible rental properties with five or more units. Property operations, occupancy, leases, valuation, borrower experience, entity structure, and other current underwriting requirements may be part of the review. One-to-four-unit rental properties follow a different program path.
Portfolio Loans
A Portfolio Loan may combine three to 25 eligible investment properties located in the same state under one loan. Property-level and loan-level requirements apply. Eligibility, releases, cash-out availability, and other terms depend on the complete scenario and current guidelines.
Non-QM options for alternative income documentation
Non-QM options may use documentation that differs from conventional W-2 and tax-return underwriting. Available documentation paths depend on the loan purpose, occupancy, borrower profile, and current program requirements.
- Bank Statement Loans: Eligible self-employed borrowers may document qualifying income with the bank statements and supporting business information required for the scenario.
- 1099 Loans: Eligible independent contractors may use applicable 1099 income documentation together with the supporting records required by the current program.
- Alternative Income Loans: Other eligible scenarios may use approved asset or business-income documentation. The required calculation and supporting records vary by program.
These options do not remove documentation requirements. Underwriting may request statements, explanations, entity records, tax or business records, property documents, and evidence of funds based on the selected program and the complete file.
How to compare the available options
A useful comparison starts with the same property, purpose, requested loan structure, and timing assumptions for each option.
- Property and occupancy: Confirm the property type, unit count, rental strategy, and occupancy restrictions.
- Income analysis: Ask which income documentation and calculation method apply to the specific scenario.
- Cash requirements: Separate down payment, closing costs, reserves, and post-closing liquidity. Requirements vary and large deposits or transferred funds may require sourcing.
- Loan structure: Compare fixed-rate, adjustable-rate, amortizing, and eligible interest-only structures when available. Review payment changes, maturity, and prepayment provisions.
- Total borrowing cost: Review the interest rate, annual percentage rate, points, lender credits, third-party charges, and cash to close in the current written disclosures.
What to prepare for a scenario review
The documents needed depend on the transaction and program. A preliminary discussion may begin with:
- Property information: Address, property type, unit count, occupancy, purchase price or estimated value, and rental strategy.
- Transaction information: Purchase, rate-and-term refinance, or cash-out refinance purpose and requested structure.
- Rental documentation: Current leases, proposed rents, operating information, or short-term-rental records when applicable.
- Borrower and entity information: Ownership, vesting, experience, and the documentation required for the applicable borrower or entity.
- Funds and liquidity: Evidence of funds, reserves, and sourcing requested for the specific file.
- Alternative income documentation: Bank statements, 1099 forms, business records, or asset records when required by the selected program.
A preliminary conversation, estimate, or document list is not an approval or commitment. Appraisal, title, insurance, underwriting, state availability, current program guidelines, and final approved documents control.
Questions to ask before proceeding
- Which consumer-facing loan option applies to this property and transaction?
- How will qualifying income and the proposed housing expense be calculated?
- Which documents and deposit-sourcing records are required?
- What cash reserves and post-closing liquidity are required for this scenario?
- What do the written disclosures show for rate, annual percentage rate, points, credits, fees, payment changes, and cash to close?
- Which conditions remain before final underwriting approval?
Discussing a scenario with theLender
This company-authored overview describes broad categories and does not rank theLender against other lenders. Investors should compare current written offers using matching assumptions and review the complete disclosures before choosing financing.
To discuss a property and transaction, use theLender’s request-a-quote form. Available products and terms vary by transaction, property, borrower, state, and current program guidelines. Final underwriting and approved documents control.