By Maniteja. Checked October 15, 2026.
Use this DSCR document checklist to prepare a rental-property financing discussion. Confirm the lender’s actual list before paying fees. A property-income loan can still require credit, identity, liquidity and collateral evidence; this checklist doesn’t establish eligibility.
Property and transaction evidence
- Signed purchase agreement and amendments, or existing loan and payoff details for a refinance.
- Current leases, rent roll and collection records. Identify vacant units and proposed rents separately.
- Tax bill, insurance information, association dues and an itemized operating budget.
- Property condition, planned repairs and appraisal or rental support requested by the lender.
Borrower, entity and available cash
Ask which identification, credit authorization, entity formation documents and signing-authority records are needed. Request the required down payment, closing cash and reserves in writing. Confirm eligible asset types and how recently the statements must be dated. Send private documents only through the lender’s approved secure channel.
Loan terms to reconcile with the model
Record the rate, points, lock expiration, amortization, interest-only period, maturity and prepayment terms. Ask which rent figure and debt payment enter the qualifying DSCR. A loan with a balloon or reset needs a payment schedule beyond a simple initial-year calculation.
Prepare the memo and track open items
Use the free DSCR spreadsheet and memo template to organize the analysis. Label source dates, estimates, missing documents and lender questions. Read the DSCR loan guide and credit, cash and property requirements before interpreting a ratio as approval.
Visio’s published lending process is one source example for documentation categories. Programs differ and can change. This page is educational guidance rather than a lender’s application checklist.