Many sellers and listing agents find comfort that you have been pre-approved as a qualified buyer. Our automated Pre-Approval allows you to self-qualify by completing a online form (takes < 1 minute) letting us know your FICO, Experience Level, and Liquidity.
You receive a pre-approval letter in your inbox instantly.
Get instant clarity on your deal. Our platform gives you real-time access to loan terms without needing to complete a full loan application. No pressure, and no need to speak with a loan officer.
Just clear numbers, upfront. Want to speak to a financing expert? We are available via phone, text or on screen chat!
Our platform puts you in control. Move through the application process on your schedule, without unnecessary back-and-forth. It’s designed to help you move faster and make the most of your time.
Plus, our integrated draw process keeps everything organized and supports fast construction draws.
Qualify based on rental income, not personal income. Ideal for self-employed investors, those that own more than 10 properties or that don't want the burden of a conventional debt to income ratio (DTI) underwrite on a cash flowing investment property
For investors wanting to acquiring a single property or group of rental properties or refinancing from a recently renovated property.
A DSCR loan is a rental property loan that qualifies on the property's cash flow rather than the borrower's personal income, measured by the debt service coverage ratio. It requires no tax returns or W-2 verification.
DSCR is the qualifying monthly rent divided by the monthly loan payment, including principal, interest, taxes, insurance, and association dues. Swell uses the lower of 110% of appraised market rent and your valid lease rent as the qualifying rent. For short-term rentals we use the trailing 12 month rent or 80% of AirDNA report.
Swell offers DSCR loans with a ratio as low as 0.8x,† which means a property whose rent covers most, though not all, of the payment may still qualify. For the best pricing, 1.0+ or 1.15+ DSCR is ideal. For 5+ unit properties, a 1.25+ DSCR is ideal.
We use the property’s projected income to determine the DSCR Ratio. For long-term rentals this comes from the appraisal, on short-term rentals this is sourced from AirDNA or other sources.
No. DSCR loans qualify on the property's rental income, so no tax returns, pay stubs, or W-2s are required. No hard credit pull applies.
No. We offer DSCR loans to all experience levels. If you have 640+ FICO you gain access to the loan program. And we used the highest FICO score of the members of an LLC allowing your partnership to benefit from a member with high FICO.
No. Permanent residents, temporary resident aliens, and foreign nationals can apply for a DSCR Loan .
You need to have a minimum of 20% of the purchase price for a down payment. This can be sourced from members of the entity, gifts and other methods if needed.
Yes. Cash-out refinance is available using the appraised value of the property after 90 days of ownership (seasoning), or on free-and-clear properties, which may let real estate investors access equity to reinvest.
Yes, we pull a soft-credit report on the guarantors of the loan; meaning you will not have any negative effects from the credit pull.
At Swell, transparency comes first. Our DSCR loans feature competitive fees:
Valuation Fee: Pass Through
Origination Fee: 0% to 1.0% of Loan Amount
Processing & Underwriting Fee: $1,000
Title & Legal Closing Fees: Pass Through
