At North Star Mortgage Network, we specialize in helping real estate investors navigate the DSCR (Debt-Service Coverage Ratio) loan process with confidence. When it comes to submitting a DSCR loan to underwriting, a complete and compliant file is crucial. Missing documents or incomplete data can stall your approval—or worse, get your loan kicked back.

That’s why we’ve outlined this DSCR loan submission checklist to help ensure your deal moves smoothly into underwriting.


Minimum Required Documents

These are the non-negotiable items you’ll need to submit for initial underwriting. If anything is missing, the file may be rejected or delayed:

  • Signed 1003 (Loan Application): Must be signed and dated by the interviewer. If the application is taken face-to-face, the borrower must also sign.
  • Borrower Authorization: Required if the 1003 is not signed. Also mandatory for properties or borrowers in MS, NV, OR, or VT before pulling credit.
  • Mortgage Broker Agreement: Must comply with the Wholesale Disclosure Signature Matrix by state.
  • State Rate Lock or Float Agreement: Again, must follow your state’s disclosure matrix.
  • Lease Agreement (Refinance): Current lease(s) on the subject property are required.
  • Purchase Agreement: Needed for purchases, fully executed.
  • Loan Scorecard Findings: Must be either a “Pass,” a “Fail with Approved Exception,” or “UW Review” with no missing data.
  • Credit Report: Imported into the file.
  • Homeownership Counseling List
  • All Loan Estimates (LEs): Must be provided to borrower and documented.
  • Changed Circumstance Forms: Submit any/all redisclosed LEs.
  • Settlement Service Provider List: Include names, addresses, and phone numbers.
  • ARM Disclosure & CHARM Booklet (if applicable)
  • Home Loan Toolkit Delivery Confirmation: Required within 3 days of application (for purchases).

Recommended Documents (Strongly Encouraged)

While not always required upfront, including these can help expedite underwriting and avoid unnecessary delays:

  • Asset Documentation: 2 months of bank statements for all funds needed to close or meet reserve requirements.
  • Patriot Act Disclosure: Must include borrower ID info and be signed by the person who reviewed the ID(s).
  • Appraisal(s): As soon as available.
  • Condo Questionnaire & HOA Dues Evidence: If applicable.
  • Entity Documents for LLC/Corporation: Articles of Incorporation, Operating Agreement, Federal Tax ID, and Certificate of Good Standing.
  • Anti-Steering Disclosure: Required for lender-paid loans with three loan options, signed by the Loan Officer.
  • Letter of Explanation (LOE): For any credit inquiries in the past 90 days, explaining purpose and outcome.
  • Proof of Insurance: Hazard and flood insurance as applicable.
  • Estimated Closing Fee Sheet: Must show lender, broker, title, and escrow fees.
  • Preliminary Title Report: Including a 24-month chain of title.
  • Written Intent to Proceed: Must be executed by all borrowers.

Why Submitting a Complete DSCR Package Matters

At North Star Mortgage, we work closely with investors across Florida to ensure deals are structured correctly and close on time. Submitting a complete DSCR loan file up front is the best way to avoid delays, protect your rate lock, and keep your seller confident in your ability to close.

Let us help you navigate this with common-sense underwriting, direct communication, and investor-friendly solutions that get results.