Recently Funded DSCR Loan In Evansville, Indiana

Loan Scenario:

This DSCR rental loan involves a detached multi-unit property in Evansville, Indiana. Specifically, the investor purchased the property for $280,000, with an appraised value of $270,000. Furthermore, American Heritage Lending provided $216,000 in funding at 80% Loan-to-Value (LTV). Notably, the deal carries a DSCR of 1.523, confirming healthy cash flow across the units. Additionally, the loan uses a True Zero Point structure with a 30-year fixed rate, giving the borrower stable payments without any upfront discount points.

The borrower, an experienced investor, used the DSCR program to acquire a multi-unit rental property. Because approval relies on the property’s income rather than personal documents, the investor closed without tax returns or work records. Furthermore, the strong 1.523 DSCR provides a healthy buffer above the debt payment, supporting a confident long-term hold.

Evansville is the third-largest city in Indiana, supported by a diverse employer base in manufacturing, healthcare, and education. Specifically, the University of Evansville and the University of Southern Indiana both help drive steady rental demand in the area. Moreover, rents remain well below the national average, which continues to draw tenants looking for affordable housing. Consequently, multi-unit rental properties in this market benefit from consistent demand and a stable tenant base.

Overall, this deal shows how American Heritage Lending supports experienced investors with DSCR-based funding that removes the need for personal income documents. Specifically, the True Zero Point Loan and 30-year fixed rate give the borrower stable payments and room to grow their rental portfolio. As a result, the investor secured a cash-flowing multi-unit asset with no discount points and a clear path to a long-term hold.