First thing I did was gather every bit of paperwork I could find—rental agreements, bank statements, all that. Then I calculated my DSCR manually (just to double-check the lender’s math). After that, I shopped around for lenders who actually understood investment properties, which took longer than expected. Last part was prepping my property docs and making sure my numbers looked solid before applying.
Anyone got a smoother process? Or maybe some shortcuts I missed?
Honestly, your process sounds a lot like mine—especially double-checking the DSCR numbers. I did find that working with a mortgage broker who specializes in investment properties sped things up a bit. They handled a lot of the lender shopping, which saved me some headaches. Still, gathering all the docs was a pain... not sure there’s a real shortcut for that part.
Honestly, I’m not convinced brokers always speed things up. In my experience, some just add another layer of back-and-forth—especially if they’re juggling too many clients. I’ve gotten better results going straight to lenders and building those relationships myself. It’s more work upfront, but I’ve found it pays off in the long run. The doc gathering is brutal either way... but at least when you’re hands-on, you know nothing’s slipping through the cracks.
The doc gathering is brutal either way... but at least when you’re hands-on, you know nothing’s slipping through the cracks.
Totally get that—nothing like chasing down a missing bank statement at midnight, right? Curious, though: have you ever had a lender go radio silent mid-process? I’ve had that happen and started wondering if a broker would’ve kept things moving or just added to the confusion.
Title: Getting through the DSCR loan maze: My step-by-step and a question
Radio silence from lenders isn’t rare, unfortunately. Some just drop off the map when they hit a snag or get busy with “easier” files. A broker *can* help keep things moving, but only if they’re actually on top of their game—some are just middlemen who pass along the same delays. I’ve seen both sides: sometimes a broker smooths things out, other times it’s just more hands in the pot. It really comes down to how much you trust the person handling your file, not just the title they use.
