For Iowa real estate investors ready to grow their portfolio
DSCR loans for Iowa real estate investors, from an Iowa broker since 2005.
Qualify on the property's rent. Not your tax returns, not your W-2s. Purchase a rental or do a cash-out refinance, and close in your LLC. Send Mike the details and he calls you back with your numbers within one business day. Not a call center, a named loan officer who knows the file.
Get your DSCR numbers
Tell us what you're financing and the property's rent. That's what Mike needs to call you back with real numbers.
Your rentals pay for themselves. Your tax return doesn't say so.
You write off what you're allowed to write off. That's smart. But it also makes your income look smaller on paper than it really is. Hand that return to a regular lender and you get told no, or you get offered a deal that barely works. It's hard to tell what's actually realistic versus marketing when every lender promises an easy yes and then buries you in paperwork.
And when something this simple sounds too easy, you start looking for the catch. A hidden fee. A rate that jumps. A denial that shows up after you're already deep into a deal.
Here's how a DSCR loan actually works: it qualifies the property, not you. If the rent covers the payment, the property qualifies. Your tax returns never enter the conversation.
What's included when you go DSCR with Mike
- ✓DSCR purchase loan or cash-out refinance
- ✓Single-family homes up to 4-unit properties
- ✓Vest the property in an LLC — allowed
- ✓30-year fixed rate available
- ✓Local Iowa broker, a real person calls you back
- ✓A named loan officer, Mike, who calls back with your numbers
- ✓A one-on-one assessment that lays out any obstacles up front
What's the catch?
None. A DSCR loan is underwritten against the property, not your personal file. Mike checks what the property rents for against its payment. If the rent covers it, the property qualifies. That's the whole test, and it's the same test every file gets.
Will underwriting blow up my deal at the last minute?
That's the fear this whole loan is built to avoid. Mike works one-on-one to assess your situation and lay out any obstacle up front, before you're deep into a deal, not at the closing table.
Do I need perfect credit?
Mike tells you up front if credit is going to be an obstacle, before you apply.
Will you look at my tax returns?
No. That's the whole point of a DSCR loan. The property's rent is what qualifies the deal.
Is this you?
This is for you if
You're buying or refinancing a rental property, single-family up to a 4-unit, here in Iowa. That includes a cash-out refinance on a rental you already own, and it includes holding the property in an LLC.
This isn't for you if
You need balloon commercial financing for a large multifamily building, or you're buying the home you'll actually live in. For a primary residence, Iowa Mortgage Solutions has FHA, VA, USDA, and down-payment-assistance programs built for that instead.
How it works
Send your property details
What you're financing, the address, and the rent. Two minutes.
Mike calls you back
Within one business day, with your actual numbers.
One-on-one review
Mike walks through the deal and lays out any obstacle up front.
You apply
Only once you know where you stand and decide to move forward.
Leave your details and a mortgage consultant calls you immediately or the next business day.
Mike works one-on-one to assess your situation and lay out any obstacle in your way, so you know where you stand before you apply.
What real clients say about Mike
"Fast, professional, and reliable service. They worked hard to get me the best rate possible and kept me updated every step of the way. Highly recommend!"
"Mike Steger was great to work with all three times. This is the third loan my family has went through Iowa Mortgage Solutions... When Mike says let him make it happen he does just that."
"Amazing people to work with. ... Mike, Mike and Marcy were amazing and worked with us and always checked in with us and made sure everything was done. ... 1000% recommend!"
Questions investors ask
Can I close in my LLC?
Yes. Vesting the property in an LLC is allowed on DSCR loans.
Does this work for a cash-out refinance?
Yes. DSCR works for both a purchase and a cash-out refinance on a rental you already own.
What unit counts qualify?
Single-family homes up to 4-unit properties.
Is a 30-year fixed available?
Yes, a 30-year fixed is available on DSCR loans.
Do you lend outside Iowa?
Yes. Mike writes DSCR loans nationwide, even though Iowa Mortgage Solutions is based right here in Iowa.
Who actually calls me back?
Mike, a named loan officer, not a call center. He calls within one business day with your numbers.
Will you need my tax returns?
No. A DSCR loan qualifies on the property's rent, not your tax returns or W-2s.
Send your property. Get your numbers.
Qualify on the rent, not your tax returns or W-2s. Mike calls you back with your numbers within one business day.