No Ratio
No income, no rent test, no ratio at all.
No ratio loans skip both the personal debt-to-income calculation and the rental coverage test. Qualification rests entirely on credit, equity, and reserves.
What makes this loan different
- No DSCR requirement and no DTI calculation
- Useful on vacant, seasonal, or transitioning properties
- Typically 25% to 35% down
- Fast, condition-light underwriting
Who this is built for
- Vacant properties between tenants
- Seasonal or unusual rental patterns
- Borrowers with strong equity and thin documentation
When the rent test fails
Sometimes a good property does not price well against rent. A luxury home in a low-yield neighborhood, a property mid-renovation, or a seasonal cabin can all fall short of a 1.00 ratio while remaining a perfectly sound loan. No ratio programs solve that by not running the test.
The lender substitutes equity and reserves for the coverage calculation, which is why down payment requirements are higher.
Practical notes
Credit floors are usually higher than on a DSCR loan, and six to twelve months of reserves are common. Business-purpose certification is required, since these are investment transactions.
What lenders typically ask for
- Credit report and ID
- Asset statements for down payment and reserves
- Entity documents where title is held in an LLC
- Property documentation and insurance
Requirements vary by lender and by file. This is a general picture of what is commonly requested, not a checklist for a specific loan.
Worth knowing
No income and no rent calculation at all.
This goes a step past DSCR — the property's rental income is not used either. That simplicity is the entire product, and it is paid for in down payment and rate.
Equity requirements are meaningfully higher.
Expect a larger down payment than a comparable DSCR file, along with reserve requirements.
Generally investment property.
Availability on owner-occupied transactions is limited by ability-to-repay requirements.
Useful when a property doesn't cash flow yet.
Its best use is often a property under renovation, between tenants, or in a market where rents lag prices — situations where a ratio test would fail for reasons that have nothing to do with the borrower.
See what this program would take in your case.
We are brokers — this program is shopped across hundreds of wholesale lenders, not quoted off one rate sheet. A short application gives us enough to compare real options.
Program availability, terms, guidelines, and documentation requirements vary by lender and are subject to underwriting and change without notice. This is not a commitment to lend.