For Iowa rental property investors
DSCR loans for Iowa investors. Local, so a real person calls you back.
Every DSCR quote from Iowa Mortgage Solutions comes with a one-page cash-to-close and cashflow worksheet, built for your exact property and yours to keep. No income docs. No tax returns. Just the property's numbers.
Get my DSCR numbers
Tell us what you're financing and the property's rent. That's what Mike needs to build your worksheet.
Your rental pays for itself. Your tax return doesn't say so.
The property cashflows every month. But hand your tax return to a regular lender and your write-offs make your income look smaller than it really is. You get told no, or you get offered a deal that barely works. And even when a lender says yes, there's a new worry: getting all the way to the finish line and having underwriting blow up the deal after you've already committed to the property.
When a loan sounds this easy, it's fair to ask what's hidden. A fee that shows up late. A number that changes after you've committed. That's a real question, and it deserves a real answer, not a sales pitch.
Here's the fix: a DSCR loan qualifies the property, not you. If the rent covers the payment, the property qualifies. No income docs, no tax returns, just the property's numbers.
Everything included when you go DSCR with Mike
- ✓Qualify on the property's rent — no tax returns, no W-2s
- ✓Purchase 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 one-page cash-to-close and cashflow worksheet, built for your exact property, on every quote
- ✓A named loan officer, Mike, who calls back within one business day
What's on your one-page worksheet
Before you commit to anything, Mike builds a one-page worksheet for your exact property. It puts the real numbers in your hands, side by side, so nothing shows up as a surprise later.
Cash to close
- Purchase price
- Your down payment
- Estimated closing costs
- Total cash to close
Projected cashflow
- Monthly rent
- Vacancy & expenses
- Mortgage payment
- Net monthly cashflow
It's built for that exact property, and it's yours to keep whether or not you close with us.
What's the catch?
No catch. A DSCR loan qualifies the property, not you. That's why we don't ask for tax returns or W-2s — the property's rent is the number that matters. The worksheet exists so nothing shows up late in a payment you discover at the closing table.
Will underwriting blow up my deal at the last minute?
That's exactly what this loan is built to avoid. Mike reviews your file one-on-one and lays 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.
See your numbers before you commit
Send the property details. Mike builds your worksheet and calls you back within one business day.
Get my DSCR numbersHow it works
Send your property details
The address, what you're financing, and the rent. Two minutes.
Mike calls you back
Within one business day, with your worksheet in hand.
Review it together
Mike walks through the numbers and lays out any obstacle up front.
You decide
Only once you've seen the numbers for yourself.
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!"
Is this you?
| Good fit | Not a fit |
|---|---|
| Buying or refinancing an Iowa rental, single-family up to a 4-unit | Buying a home you'll live in yourself |
| Your tax returns understate what the property actually earns | Needing large commercial multifamily financing with balloon terms |
| You want to vest the property in an LLC | Only shopping for the lowest advertised rate with no interest in the worksheet |
Your worksheet is yours to keep, whether or not you close with us.
Mike will call you back within one business day to walk through it and lay out any obstacles, before you commit to anything.
Leave a message and a mortgage consultant calls you back immediately or the next business day.
Mike tells you up front if credit is going to be an obstacle, before you apply.
One-on-one review: Mike lays out any obstacles up front, before you apply.
A few quick answers
Can I close in my LLC?
Yes. Vesting the property in an LLC is allowed 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.
Can I do a cash-out refinance on a property I already own?
Yes. DSCR works for both a purchase and a cash-out refinance on a rental you already own.
Is a 30-year fixed available?
Yes, a 30-year fixed is available on DSCR loans.
What property types qualify?
Single-family homes up to 4-unit properties.
What happens after I submit the form?
Mike builds your one-page worksheet and calls you back within one business day to walk through it.
Send your property. Get your worksheet.
No income docs, no tax returns, just the property's numbers. Mike calls you back with your worksheet within one business day.