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Call 833-2ND-L00K · (833) 263-5005How to Prepare a DSCR Second-Look Package
Organize the current lender decision, property, appraisal, rent, borrower, entity, funds, and deadline into a focused package for review.
A strong DSCR second-look package allows the reviewer to answer three questions quickly: What happened? What are the verified property and borrower facts? What deadline or transaction risk exists? The package should be organized around those questions rather than around the order in which documents arrived.
Create a one-page scenario summary
- Current lender status and exact reason
- Transaction type and requested loan amount
- Property address, type, units, occupancy, value, and purchase price
- Monthly rent and complete monthly property obligation
- Current or estimated DSCR
- Credit range, reserves, entity, citizenship, and experience
- Closing, payoff, exchange, or lock deadline
- The outcome being requested from the second-look review
Folder 1: current lender decision and terms
- Current term sheet or loan estimate for a business-purpose transaction, when applicable
- Approval, conditional approval, suspension, decline, or ineligibility notice
- Latest condition list and material lender emails
- Rate-lock expiration and documented term changes
Folder 2: property and transaction
- Purchase contract and amendments, or current mortgage statement for a refinance
- Title or vesting information and entity documents
- Property insurance, flood information, HOA statement, taxes, and payoff
- Property type, unit count, legal use, occupancy, condition, and repair information
Folder 3: rent and appraisal
- Complete appraisal and appraisal-review comments
- Form 1007, Form 1025, rent schedule, or rent comparables
- Current leases, rent roll, concessions, and proof of receipt when relevant
- Short-term rental platform statements, operating history, and eligible market analysis
Folder 4: borrower and funds
- Estimated credit range and material credit or mortgage events
- Current reserve or liquidity summary
- Citizenship or residency documents required for program screening
- Articles, operating agreement, EIN, ownership, and signing authority for entity vesting
- Source-of-funds explanation when a purchase, payoff, or unusual transfer is involved
Redact unnecessary sensitive information
An initial scenario review usually does not require Social Security numbers, passwords, complete bank-account numbers, or unrelated personal records. Redact information that is not needed and use the designated secure upload channel when sensitive documents are requested.
Name files so a reviewer can use them
- 01_Current_Lender_Decision.pdf
- 02_Term_Sheet.pdf
- 03_Purchase_Contract.pdf
- 04_Appraisal_and_Rent_Schedule.pdf
- 05_Lease_and_Rent_Receipt.pdf
- 06_Insurance_HOA_Taxes.pdf
- 07_Entity_Documents.pdf
- 08_Deadline_and_Extension.pdf
Explain contradictions before the reviewer finds them
When the lease differs from market rent, the contract differs from appraisal value, the entity ownership changed, the payoff increased, or the loan amount changed, include a short explanation. Contradictions are not always fatal; unexplained contradictions slow the review.
Do not wait for every document to submit.
The initial form allows optional uploads. Submit the essential facts first, identify what is available, and let the Deal Desk request the next document through the proper channel.
Ready to package the file around the real issue?
The structured funnel captures the status, transaction, property, numbers, borrower profile, deadline, documents, and consent in the order the Deal Desk needs them.