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
Rent divided by the full payment (principal, interest, taxes, insurance, HOA) is the DSCR. Meet the lender's minimum and the loan does not need your tax returns.
Open the DSCR calculator with the real tax bill.
Naperville numbers
The 2024 ACS median value was $579,200. Rents have to be high to cover a payment on that price plus the tax bill. Larger down payments raise the ratio. Pull bills from DuPage or Will.
DSCR loans usually price above conventional investor loans, often with a prepayment penalty.
Naperville investor questions
- Do DuPage and Will bills differ for Naperville rentals?
- They can. Check the parcel's actual bill before you run the ratio.
- Will a Naperville rental qualify with 20% down?
- It depends on rent versus payment. At these prices more down is often needed.
- Can I DSCR-refinance a Naperville house I moved out of?
- Yes, once it is a rental with a lease.
See the Naperville overview.
Sources
- Census Reporter, Naperville (ACS 2024 1-year: median value B25077, median real estate taxes paid B25103)
- Wikipedia, Naperville, Illinois (county and 2020 population)
- DuPage County Treasurer
- Will County Treasurer
Have a Naperville 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.
DSCR in other markets
- Ann Arbor, MI
- Atlanta, GA
- Aurora, IL
- Austin, TX
- Carmel, IN
- Charlotte, NC
- Chicago, IL
- Cleveland, OH
- Colorado Springs, CO
- Columbus, OH
- Dallas, TX
- Denver, CO
- Detroit, MI
- Edison, NJ
- Evansville, IN
- Fort Wayne, IN
- Fort Worth, TX
- Grand Rapids, MI
- Houston, TX
- Indianapolis, IN
- Jacksonville, FL
- Jersey City, NJ
- Lansing, MI
- Miami, FL
- Newark, NJ
- Orlando, FL
- Paterson, NJ
- Phoenix, AZ
- Raleigh, NC
- Rockford, IL
- San Antonio, TX
- Savannah, GA
- Schaumburg, IL
- South Bend, IN
- St. Petersburg, FL
- Tampa, FL
- Wichita, KS
- Overland Park, KS
- Trenton, NJ
- Troy, MI
- Tucson, AZ
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.