About the Deal

The property is a single-family residence in San Antonio, Texas, purchased unoccupied by a first-time real estate investor based out of state. The buyer had identified a rental property that made financial sense and needed a lender who would evaluate it on that basis. DSCR loans qualify on the property’s projected rental income rather than the borrower’s personal income or employment history — which meant this investor did not need to document his salary, his tax returns, or his prior investment track record. The loan stood or fell on the deal’s own numbers.

What Made It Special

• No income or experience requirements. DSCR loans do not ask borrowers to verify employment, submit tax returns, or demonstrate prior investment experience. A first-time investor buying a rental property faces exactly this limitation with conventional financing: the lender wants history the borrower doesn’t yet have. The DSCR loan requirements center on the property’s income, not the borrower’s track record.
• Remote purchase from out of state. The investor applied, processed, and closed from states away. DSCR loans are well-suited for out-of-state investing because qualification is property-based. The investor needs to demonstrate the deal makes sense, not that he lives nearby.
• Small-balance loan evaluated on its merits. At $92,400, this loan sits at a balance many lenders deprioritize. Ridge Street evaluated it on what the deal showed: an 80% LTV, a 1.23 DSCR on projected rent.

The Result

The completed DSCR purchase gave the investor his first rental property without income documentation, prior investment history, or an in-person visit required.

• Loan Amount: $92,400 — 30YR Fixed Rate DSCR Loan
• Rate: 8.5%
• LTV: 80%
• DSCR: 1.23
• Loan Type: Purchase (Unoccupied Property)

More About Ridge Street Capital

Ridge Street Capital provides fix and flip loans, DSCR loans, and ground-up construction financing to real estate investors across 35 states. Our focus is exclusively on investment properties, which means every deal we evaluate gets the attention of a team that has seen the full range of what makes an investment work or fail.

If you want a lender who will tell you clearly whether a deal makes sense, and move fast when it does, contact us: