No-Ratio & DSCR Loans: Close Faster With Select No-Ratio + ACCELERATOR (620+ FICO)

Most qualified buyers and first-time investors don’t miss out because they’re irresponsible. They miss out because traditional underwriting doesn’t fit real-world income and timelines. Optimized tax returns that understate income, recent job changes, reserve hurdles, and long “seasoning” rules push closings weeks or months into the future. If you’re ready to move sooner, Select Home Loans offers two programs built to reduce the friction: Select No-Ratio for owner-occupied homes, and Select ACCELERATOR DSCR for 1–4 unit investment properties. Both options emphasize credit, assets, equity, and the strength of the collateral rather than asking you to fight through stacks of income paperwork.

Who These Programs Are For

If any of these sound like you, you’re in the right place:

• Self-employed or 1099 earners whose tax returns don’t tell the full story
  
• Borrowers with recent or upcoming job changes
  
• First-time homebuyers who plan to live in the property and want to avoid traditional income and employment documentation
  
• First-time investors and house-hackers targeting 1–4 unit properties who want the property’s cash flow to carry the weight of the approval
  
• Real estate agents and loan officers looking for a faster, cleaner path to the closing table for qualified clients

The common thread is simple. You’re responsible. You manage credit, assets, and timelines well. You just need an approval path that reflects how you actually earn and how quickly you need to move.

Program #1: Select No-Ratio (Owner-Occupied) — Live In It, Skip the Income Docs

Select No-Ratio is designed for primary-residence purchases and refinances where documenting income and employment becomes the roadblock. Instead of forcing your life into a narrow underwriting box, the program leans on credit, assets, equity, and the property itself.

What it is: A primary-residence loan with no income verification and no employment verification.

Key highlights:

• Cash-out up to 75% LTV with no seasoning
  
• Only 3 months seasoning on valuation
  
• First-time homebuyer reserves set at 2 months
  
• Eligible properties up to 20 acres
  
• Minimum tradelines may be waived when there are 3 reporting scores
  
• FICO as low as 620 considered
  
• Gift funds can cover up to 100% of down payment and closing costs (with documentation)
  

Who benefits most:

• Self-employed borrowers with variable or seasonal income
  
• Borrowers with recent employment changes who still maintain strong overall profiles
  
• High-asset borrowers who want an efficient approval path without wading through years of paperwork
  

How it plays out in real life:
Imagine a buyer with a 622 mid-FICO, strong asset statements, and a family member willing to provide a gift. With Select No-Ratio, that gift can cover the full down payment and closing costs, and as a first-time buyer they show two months of reserves. They provide ID, authorize credit, verify assets, complete the valuation, and close—without tax returns or employment verification becoming an issue.

Program #2: Select ACCELERATOR DSCR (1–4 Units) — Let the Rent Do the Talking

For investment properties, the most relevant question isn’t how your personal tax return looks. It’s whether the property’s cash flow can comfortably service the debt. ACCELERATOR DSCR puts the analysis where it belongs: on the rent relative to the mortgage and housing costs.

What it is: A loan for 1–4 unit investment properties where approval is based on the Debt Service Coverage Ratio (DSCR). The program is open to first-time investors.

Key highlights:

• No seasoning on cash-out to 75% LTV
  
• No seasoning on valuation
  
• No reserves required for loan amounts under $1.5 million
  
• Up to 85% LTV available on purchase or rate/term (program-dependent)
  
• If listed for sale, the property can be taken off the market by the Note date
  
• Minimum tradelines may be waived with 3 reporting scores
  
• FICO as low as 620 considered
  
• If there are multiple borrowers, the highest mid-FICO may be used to qualify
  

Who benefits most:

• First-time investors buying a duplex, triplex, or fourplex
  
• House-hackers who plan to live in one unit and rent the others (ask your loan officer which structure fits best for your plan)
  
• Investors looking to unlock equity with a no-seasoning cash-out so they can scale faster
  

How it plays out in real life:
Consider a first-time investor with a 625 FICO purchasing a fourplex. Under $1.5 million, no reserves are required. The property qualifies on its DSCR—market rent relative to principal, interest, taxes, insurance, and association dues if applicable. With program-dependent LTVs up to 85% on purchase or rate/term, the buyer preserves cash for improvements or for the next opportunity.

At-a-Glance Comparison

Feature	Select No-Ratio (Owner-Occupied)	Select ACCELERATOR DSCR (1–4 Units)
How you qualify	No income or employment docs	Cash-flow based (DSCR)
Cash-out	To 75% LTV with no seasoning	To 75% LTV with no seasoning
Valuation seasoning	3 months	None
Reserves	FTHB = 2 months	$<1.5MM = 0 months
LTV (purchase/rate-term)	Per program matrix	Up to 85% available (program-dependent)
Credit	620+ FICO considered; tradelines may be waived with 3 scores	620+ FICO considered; highest mid-FICO may be used
Gifts	Up to 100% down payment + closing costs allowed (with documentation)	Per program matrix
Property type	Owner-occupied, up to 20 acres	1–4 units; listed properties may come off market by Note date

Which Option Fits Your Goal

• If you’re buying a primary residence and prefer to avoid income and employment documentation, Select No-Ratio is the most direct path.
  
• If you’re buying or refinancing 1–4 units and want the rents to carry the approval, ACCELERATOR DSCR is designed for that.
  
• If your priority is cash-out quickly to redeploy capital, both programs support no-seasoning cash-out to 75% LTV; your loan officer will help you choose based on occupancy and purpose.

What You’ll Actually Need (Even With Flexible Docs)

The point of these programs is to shorten the path, not to skip prudent lending. Here’s what you should expect to provide:

• Government ID
  
• A credit pull and permission to evaluate your credit profile
  
• Asset verification to source down payment and closing costs; a gift letter if funds are gifted
  
• Appraisal or valuation of the property
  
• Property details; for DSCR, a rent roll or market rent support is typically needed
  
• Standard disclosures

The Process and Timeline

Every loan is different, but the fastest files share a simple rhythm.

Step 1: Fit confirmation
Start with your mid-FICO, property address, state, and goal—purchase, rate/term, or cash-out. Your loan officer confirms whether No-Ratio or DSCR is the likely best path and explains any program-dependent nuances.

Step 2: Valuation ordered
Appraisal or valuation is requested early because it’s often the pacing item. While valuation is in flight, your team clears straightforward items like assets and disclosures.

Step 3: Clear conditions and close
With valuation complete and conditions satisfied, documents go out and you close. Many files complete in weeks rather than months, subject to appraisal turn times and how quickly documents are returned.

Real-World Mini Case Studies

1) Gift-Funded Primary Residence
A couple wants to buy their first home but can’t produce income docs that fit the standard template. One works on commission with uneven month-to-month, the other is self-employed with a return optimized to minimize taxable income. They have strong credit and family support. Using Select No-Ratio, a family gift covers the entire down payment and closing costs. As first-time buyers, they show two months of reserves. Their file focuses on assets, credit, and valuation, rather than W-2s and tax returns. They close on time and start building equity instead of waiting for another tax year to “look better on paper.”

2) First Fourplex With DSCR
A first-time investor finds a fourplex in an excellent rental corridor. Their income is a mix of W-2 and 1099, which tends to slow conventional underwriting. With ACCELERATOR DSCR, the approval pivots to the property’s cash flow. The rents comfortably cover the housing expense, and program-dependent LTVs allow up to 85% on purchase or rate/term. Under $1.5 million, no reserves are required. The investor preserves cash for light unit updates and leases up quickly, turning the property into a launching pad for the next acquisition.

3) Cash-Out to Scale, No Seasoning
An owner wants to pull equity today, not after a long waiting period. With no-seasoning cash-out to 75% LTV available on both programs, they complete the valuation and clear straightforward conditions. Funds arrive in time to secure the next 1–4 unit deal. Instead of losing momentum to seasoning rules, they move on their timeline.

Frequently Asked Questions

What credit score do I need?
As low as 620 may be considered, program-dependent. Stronger credit profiles can improve terms and pricing.

Do these programs require tax returns?
For Select No-Ratio, income and employment documentation aren’t required. For ACCELERATOR DSCR, the focus is on the property’s cash flow rather than your personal income docs.

Are reserves always required?
For No-Ratio, first-time homebuyers show two months of reserves. For ACCELERATOR DSCR, loans under $1.5 million may not require reserves.

Can gift funds cover everything?
For No-Ratio, gift funds can cover up to 100% of down payment and closing costs with standard documentation. Your loan officer will outline exactly what’s needed for the gift letter and sourcing.

Can I buy a property that’s currently listed?
For DSCR, a listed property may be eligible if it’s taken off the market by the Note date. Your loan officer can confirm how that works for your file.

How fast can I close?
Appraisal and valuation timing usually set the pace. With documents returned promptly, many files close in weeks rather than months. Exact timing varies by market conditions and file specifics.

Is DSCR a good fit for house-hacking?
DSCR is designed for investment properties. If you plan to live in one unit, your loan officer can help you decide whether No-Ratio, DSCR, or a different structure aligns with your plan and occupancy intent.

Where We Can Lend Today

AL, AK, AR, CO, CT, DE, DC, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MS, MO, NE, NH, NJ*, NM, NY*, NC, OH, OK, PA, RI, SC, TN, TX, WA, WV, WI, WY.

*NJ & NY: an unlicensed broker path may require a Business Purpose Broker Attestation. Business-purpose loans are not available in ND or SD.

If you don’t see your state or you’re unsure how your scenario fits, include your property state in your initial message and we’ll confirm availability.

Your Next Step

If you’re ready to find the fastest path to the closing table, share four details and we’ll map your route on a quick call:

1. Your mid-FICO
   
2. The property address
   
3. The property’s state
   
4. Your goal: purchase, rate/term, or cash-out
   

From there, we’ll confirm program fit, outline the documentation you’ll actually need, and order the valuation so your timeline stays in motion.

Important Notices and Compliance

This information is for general guidance and does not constitute a commitment to lend. Program terms, LTVs, FICO thresholds, reserve requirements, and eligibility are subject to change and to full underwriting review. Availability varies by state and by borrower/property profile. In New Jersey and New York, an unlicensed broker path may require a Business Purpose Broker Attestation. Business-purpose loans are not available in North Dakota or South Dakota. Equal Housing Lender.