To get prequalified, simply access Kiavi’s online platform, enter the property address and answer a few questions about yourself. The system will do a soft credit pull as part of the prequalification – unlike hard inquiries, soft inquiries will not affect your credit scores.
When qualifying real estate investors for long-term financing on rental properties, Kiavi will look at FICO and leverage as qualifiers to originate the loan. Leverage is dictated by FICO and DSCR (Debt Service Coverage Ratio) combined.
DSCR is used to measure and determine the maximum loan amount when a real estate investor applies for a new loan or refinances an existing one. Because DSCR measures the asset's ability to pay the property's mortgage and expenses, the higher it is, the more leverage the investor can get. The DSCR must be at a minimum of 1.1 to prequalify.
