This is business-purpose lending. A DSCR loan qualifies the property's income, not your personal income, and it is made for investment purposes rather than as consumer credit on a home you live in. That means the qualification path is different from a consumer mortgage — and so are the disclosures. Owner-occupied purchases are not eligible.

The ratio

DSCR equals the monthly rent divided by the full payment, including taxes, insurance and HOA dues. Clear the lender's minimum and the loan can close without personal income documents. Rent comes from the lease or the appraiser's market rent.

Open the DSCR calculator and enter the county's real tax figure.

Aurora's tax side

Use the bill from the parcel's county: Kane, DuPage, Will or Kendall. Two similar houses on either side of a county line can show different ratios because the bills differ. Figures above are from the Census ACS.

DSCR usually costs more than agency investor loans and often includes a prepayment penalty.

Aurora investor questions

Will the lender use the seller's Aurora tax bill?
Usually the current bill, but exemptions the seller had will not carry over to a rental. Plan for the bill without them.
Can I use Choose Aurora on a rental?
Buyer programs like Choose Aurora are aimed at owner-occupants. A DSCR loan is investment-only.
Does an unincorporated Aurora address change anything?
Taxes still come from the county, but the taxing districts can differ from city parcels. Look up the actual bill.

More: Aurora overview.

Sources

Have a Aurora deal to underwrite?

Send the purchase price, the rent, the tax bill, and the insurance quote. You get the coverage ratio, the structures that clear it, and the prepayment terms attached to each — including the case where the deal does not cover.

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DSCR in other markets

Coverage thresholds, pricing adjustments, and prepayment structures vary by lender and change without notice. Nothing here is a rate quote, an offer, or a commitment to lend.