DSCR Loans in Virginia
Start or scale your real estate investment portfolio in Virginia with a DSCR loan. DSCR loans in Virginia enable investors to qualify for a mortgage using rental income rather than personal income. No tax returns or employment verification required.
- Obtain financing based on cash flow
- No-income mortgage solution
- Buy or refinance short- and long-term rentals
- Unlimited cash-out
- Competitive DSCR loan rates in Virginia
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Areas We Serve
Griffin Funding provides DSCR loans to borrowers throughout Virginia, including the following areas:
- Virginia Beach
- Fairfax
- Chantilly
- Norfolk
- Arlington
- McLean
- Upperville
- Waterford
- Dunn Loring
- Richmond
- Alexandria
- Roanoke
- Portsmouth
- Great Falls
- Vienna
- Middleburg
- Oakton
- Aldie
Real Estate Investment Financing in Virginia
Debt service coverage ratio (DSCR) loans allow real estate investors to qualify for a mortgage based on a property’s cash flow rather than personal income. Instead of reviewing tax returns or pay stubs, we prioritize a property’s DSCR — which measures its income versus its debt obligations — to make a lending decision. This offers a flexible mortgage solution for real estate investors looking to build or expand their portfolio.
DSCR loans can be used to purchase or refinance long-term and short-term rental properties, with financing available for many different property types and no limit on the number of properties financed. Access up to $20 million in financing while enjoying a streamlined underwriting process with no income or employment verification.
Visit our DSCR loan page to learn more about this type of financing and see today’s rates. Contact Griffin Funding or get started online to take the first step towards securing a DSCR loan in Virginia.
Frequently Asked Questions
Any DSCR mortgage loan in Virginia typically comes with competitive rates. However you’ll need to keep in mind that the rates are still typically higher than those seen in conventional mortgage loans.
The exact rate you’re eligible for will vary depending on several criteria, including your credit score, DSCR, DTI ratio, down payment/cash reserves, the property’s rental value, and whether you have any experience in managing or investing in real estate.
One of the biggest benefits of DSCR loans is the fact that they’re classified as non-QM loans. Non-QM loans are loans that don’t require the same extensive qualifications as conventional loans do—which means you don’t have to submit proof of income and employment history verification to secure a loan.
In addition to DSCR loans, there are several other types of non-QM loans you can apply for with Griffin Funding:
- Bank statement loans allow you to qualify for a loan based on information available on your bank statements. Instead of using traditional pay stubs or tax returns to show your ability to repay the loan, you will use a series of bank statements.
- Asset-based loans give you a chance to qualify based on liquid assets, which is a great option for retirees, investors, and self-employed borrowers. And then there are Because you are using your liquid assets to help qualify, there is no need to provide the traditional income verification.
- Recent credit event loans , which are a unique option for those who have suffered a major hit to their credit and don’t have a chance of qualifying for other types of loans. Recent bankruptcy, foreclosure, loan default, debt restructuring, and other credit events will all be considered when applying for a recent credit event home loan.
DSCR loans can be a great option for those who struggle getting approved for conventional mortgage loans. However, there are some points to keep in mind while deciding if it’s the right choice for you:
- DSCR loan rates in Virginia, though competitive, are typically higher than the rates seen when comparing a DSCR loan vs conventional loan.
- Because there is always going to be a minimum of 20% required for a down payment, you may need to have hefty cash reserves to qualify for pricier purchases.
- If your local rental market is stagnant, or if your properties are sitting vacant, you may have difficulty meeting the minimum DSCR.
One of the best benefits of DSCR mortgage loans is that they’re available for both new and experienced investors. As long as you meet a few basic requirements, you can start working with a loan agent to see what Griffin Funding can do for you.
Keep in mind that, while many lenders do offer DSCR loans, they may not specialize in them. Working with a knowledgeable, specialized DSCR lender like Griffin Funding gives you the best chances at locking in a competitive approval to help build your real estate investment portfolio.
Even though the rates for Virginia DSCR loans can be very competitive, it’s best to be educated on the different scoring criteria before you apply. Here are some tips to give your application the best shot at a great approval:
- Work on getting your DSCR up to at least 1.00-1.25 by boosting rental revenue and lowering annual costs.
- Optimize your personal credit report by disputing any derogatory items, paying down excessive debt, and making payments on time.
- Gather the necessary paperwork: Rent rolls, operating statements, property tax bills, and insurance declarations will all be helpful.
- Make sure that you are trusting an experienced DSCR lender, like Griffin Funding, who will take a holistic approach to your application and work with your strengths – instead of focusing on your weaknesses – to get the best approval possible.