Tell us your situation.Share your Alabama city, property plans and timeline. We can discuss DSCR for a rental or separate options for a home you will live in.
Alabama mortgage brokerCompany NMLS #2776646
DSCR financing for Alabama investment properties
Rental cash flow. No personal tax returns. No W-2s.
Buying or refinancing a rental? Explore DSCR financing based on the property’s rental cash flow instead of personal income documents. Tell us your situation, choose a target rate, and prepare your next step with Firefly.
Have a rate in mind?
No credit pull to startFour simple questionsPlanning before applying
Investment properties only. Credit, verified funds, reserves, property requirements and lender underwriting apply. Approval is not guaranteed.
Compare the full cost.Review available lender pricing, APR, points and closing costs before you choose a loan.
Get your file ready.Choose a target rate and prepare your application for licensed review. A lender must confirm eligibility and any rate lock.
DSCR purchase examples
Credit and down payment work together.
These examples show how credit can affect the required down payment for an eligible rental purchase.
| FICO score | Down-payment example |
|---|---|
| At least 660 | 30% down |
| At least 700 | 20% down |
| At least 740 | 15% down |
Examples are for eligible single-family rental investment properties, fully amortizing loans up to $1.5 million, and rental cash flow covering the qualifying housing payment (DSCR at least 1.00). Down payments assume the qualifying property value equals the purchase price. Closing costs and required reserves are additional. Credit, verified funds, appraisal and lender underwriting apply. First-time homebuyers are not eligible. Other property types or loan features may require more down. Approval is not guaranteed.
Ask Firefly to review my rentalLoan rates, fees and any prepayment penalty depend on the lender and loan terms.
Your next chapter could be home
Saved a down payment.
Still hearing “not yet”?
A previous denial does not have to end the conversation. Firefly can help you understand what held you back and request a licensed review of options that may fit your finances.
Explore my homebuying pathPlan for a payment you can afford today.
Refinancing may be an option later if you qualify and the new terms and costs make sense. Do not rely on a future refinance to make today’s mortgage affordable. Lower rates and future approval are not guaranteed.
What does a cash-out refinance mean?
A cash-out refinance replaces your mortgage with a larger loan. After paying off the old loan and applicable costs, you receive available proceeds in cash. It borrows against your equity, increases mortgage debt, and may increase your payment or extend repayment. Eligibility depends on lender requirements, your finances, and the home’s appraised value.
Alabama only. Subject to application, verification, program availability, and participating lender approval. Firefly Mortgage is a mortgage broker. This is not a commitment to lend.
Explore a payment estimateOptional planning tool — no available rate or approval is promised.
Your plan, step by step
Start with simple numbers.
Choose a home price, down payment, and rate goal. We show a planning payment and carry your choices into the 1003. Nothing is submitted or locked until you ask.
Step1
Your comfort comes first
Start with the home and down payment.
Enter a home price, the money you plan to put down, and a loan length. We calculate the base planning loan as home price minus down payment. Step 2 lets you move the rate bar and watch the payment change.
Planning paymentSet a target rate in Step 2Home price $425,000 − down payment $85,000 = $340,000 base planning loan.Not the full monthly payment yet. Property taxes, homeowners or flood insurance, mortgage insurance, and HOA dues may make it higher.
How does that feel?
Make the monthly payment estimate more completeOptional: add costs you already know
Enter monthly estimates only. Leave a box blank if you do not know it yet; Firefly can review verified property and program costs later.
Home price minus down payment equals the base planning loan. It is not the amount you are approved to borrow. Some programs may permit a financed upfront insurance or guarantee fee later.
No. Price, down payment, term, and the target rate are enough to calculate principal and interest. Income does not choose the rate.
Required documents depend on the loan program. We’ll explain the income, asset and property records needed for your selected option. A planning estimate is not a loan approval.
Saved into your next stepHome price $425,000 · Planning loan $340,000 · Down $85,000
Not ready yet?
Build a clearer mortgage-readiness plan.
A “not yet” can become a practical next-step plan. With your permission and a connected provider, licensed staff can review your credit information, explain documented factors, and discuss available options without promising approval or a score increase.
- Verify your identity and give permissionYou stay in control. We never request a credit report without your explicit authorization.
- Request and review provider resultsA connected credit provider is required; Firefly does not create a credit report itself.
- Follow an educational readiness planReview inaccuracies, balances, documentation gaps, and practical next steps with your loan team.
- Ask for another licensed reviewYour loan team reviews updated information and any options that may then be available.
✓
Secure credit center
Your credit information stays protected.
After identity verification, authorization, and a successful provider request, eligible results can be made available through your secure file.
Firefly will not pull credit, make a credit decision, or promise an approval from this page.Planning to build instead of buy?
Explore a home plan while your financing path takes shape.
Firefly BuildPath offers proven home packages and custom-home planning across North Alabama and select nearby Tennessee communities. Bring the plan, land details, and budget back to Firefly Mortgage for a licensed review of financing options that may fit.
Construction and mortgage services use separate agreements. Firefly BuildPath is an affiliated company and optional. Financing is subject to application, verification, program requirements, and lender approval. You may use any qualified builder or lender.Choose a starting planCompare home packages or begin a custom design conversation.
Build a realistic budgetAccount for land, site work, plans, selections, and construction.
Ask for a licensed reviewFirefly Mortgage explains eligible options, costs, and next steps.
Have a mortgage question?Tell us your goal and Alabama city. Please use the secure portal for financial documents.