No Ratio Loan: No Rent Coverage Test. No Income Documentation.
Loans from $100,000 to $2 Million, qualified without a debt service coverage calculation and without personal income documentation. Credit eligibility starts at a 660 score with at least one program.
Quick answer
Saxton Mortgage does. At least one rental program we offer lists no ratio as eligible, so the property does not have to meet a coverage ratio. No ratio loans go up to $2,000,000, with credit scores starting at 660 on loans up to $1,000,000. Interest-only is not available on the no ratio route, and a personal guaranty is required.
Qualify without a coverage calculation.
However the property is positioned, there’s likely a path that fits.
- $100,000 to $2 Million, no coverage calculation
- No personal income documentation required
- Vacant and repositioned units
- Purchase or refinance investment property
- Purchase, rate-and-term refinance, and cash-out available
- Fixed and adjustable rate options
- Financing to 75% of value on the no ratio route*
- Interest only is not available on the no ratio route*
Qualify without a rent coverage calculation
Investment property financing
One to four units and eligible condominiums
Purchase, rate-and-term refinance, or cash-out
Personal income documentation not required
Fixed-rate and adjustable-rate (ARM) options
What is the Saxton No Ratio Investor Loan?
A rental loan underwritten without a coverage ratio
The Saxton No Ratio Investor Loan is underwritten without calculating a debt service coverage ratio, so equity, credit history, and reserves carry more of the decision.
When the loan is taken in the name of an LLC or other entity, a personal guaranty is required from the owners. Your credit history and reserves are still reviewed either way. Interest-only is not available on this route.
Use it to purchase, refinance, or take cash out on one to four unit investment property and eligible condominiums, with loan amounts from $100,000 to $2 Million. Cooperative units are not eligible.
Why choose the Saxton No Ratio Investor Loan?
Built for investors whose property does not fit a coverage ratio but whose equity and credit do.
Between Tenants
A vacant unit between leases does not have to hold up the transaction.
Renovated Units
A property repositioned above its old rent can be financed on this route.
Seasonal Properties
Rental patterns that swing across the year do not have to average out first.
Strong Equity Positions
A larger equity stake carries more of the qualifying picture.
Cash-Out To Reinvest
Access equity in an existing rental to fund the next acquisition.
No Coverage Test
Qualifying skips the debt service coverage calculation entirely.
Hear From Homeowners Like You
Frequently Asked Questions
The questions we get asked most about the No Ratio Investor Loan.
Saxton Mortgage does. At least one rental program we offer lists no ratio as eligible, so the property does not have to meet a coverage ratio. No ratio loans go up to $2,000,000, with credit scores starting at 660 on loans up to $1,000,000. Interest-only is not available on the no ratio route, and a personal guaranty is required.
The file is underwritten without calculating a debt service coverage ratio for the property. Equity, credit history, and reserves carry more of the decision. Loan amounts on the no ratio route run from $100,000 to $2 Million, starting at a 660 credit score with at least one program.
No. That is the main reason investors choose this route over a standard coverage-based rental loan.
Personal income documentation is not required. When the loan is taken in the name of an LLC or other entity, a personal guaranty is required from the owners. Your credit history and reserves are still reviewed either way.
No. Interest-only is not available on the no ratio route. It is available on our standard rental income program.
Yes. Cash-out is available, with limits that vary based on the equity remaining in the property.
A prepayment penalty may apply where permitted by state law. A licensed loan officer will confirm what applies to your transaction before you commit.
One to four unit investment properties and warrantable condominiums. Non-warrantable condominiums are eligible with additional requirements. Cooperative units are not eligible.
A no ratio loan is investment property financing approved without a rent coverage calculation and without personal income documentation. There is no test of whether the rent covers the payment, which is what the word ratio refers to. The property is still appraised and the file still rests on your credit and your equity.
They are close cousins. A DSCR loan qualifies on the rent covering the debt service. A no ratio mortgage skips that coverage test altogether, which is what makes it work on a property that is vacant, between tenants or just renovated with no lease yet. Neither one reviews your personal income.
Find out what you qualify for
Whether you’re buying, refinancing, or pulling cash out, there’s likely a Saxton No Ratio Investor Loan option that fits. Get a fast, no-obligation pre-qualification today.
Get Pre-Qualified*Loan amounts, rates, terms, and down payment requirements are subject to credit approval, income and asset verification, and program eligibility. Down payment and cash-out limits vary by occupancy, credit score, and documentation type. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.