How fast can a DSCR loan close?
Twenty-one to thirty days from a signed term sheet is the realistic range, and twenty-one is achievable when the appraisal, the title work and the insurance binder all start on day one. Nothing in a DSCR file waits on your tax returns or your employer, which is why it moves faster than a conventional investment loan — but it does wait on third parties, and appraisers, title companies and insurers set their own pace. The borrower controls more of the clock than they expect: entity documents, the insurance quote and appraisal access are the three items that most often decide whether a file lands at twenty-one days or thirty-five.
THE NUMBERS
| Minimum DSCR | 0.75 (0.75–0.99 prices at +62.5 bps, 70% LTV cap) |
|---|---|
| Maximum LTV | 80% purchase or rate-and-term · 75% cash-out |
| FICO floor | 660 (below that the desk does not lend) |
| Loan size | $100K – $3M single · $10M portfolio |
| Reserves | 6 months PITIA · 12 months on a portfolio |
| Prepay options | 5-4-3-2-1 par · 3-2-1 +25 bps · 1-yr +50 bps · none +87.5 bps |
| Typical days to close | 21–30 days from a signed term sheet |
| Rate sheet | Silt Rate Desk — Market Composite Sept 2026 · effective 2026-09-01 |
| Typical timeline | 21–30 days from a signed term sheet |
| Term sheet | within 24 hours of the underwriter call |
ILLUSTRATIVE — published program floors, not a quote or a commitment to lend. Subject to underwriting, appraisal and final credit approval.
What are the stages, and who is waiting on whom?
Application, then a soft quote, then an underwriter call, then a written term sheet within twenty-four hours of that call. You sign, processing opens, and the appraisal, title and insurance review are ordered together. Underwriting works the file as those come back, issues conditions, and clears to close when they are satisfied; docs are drawn and the closing is scheduled. Pricing and the term sheet are inside Silt's control and are quick. Everything after signature depends at least partly on someone outside the building.
What gates each stage?
The appraisal is almost always the long pole — ordering is instant, scheduling is not, and access to a tenant-occupied unit adds days if the tenant is hard to reach. Title needs a clean search; an old lien, a probate gap or an unreleased mortgage turns days into weeks. The insurance binder has to be bound, not quoted, and must match the entity name exactly. Entity documents and the rent roll or lease are needed early because underwriting cannot finalise without them. Everything else tends to move around those four.
What can I do to hit twenty-one days?
Send the entity documents the day you sign, not when they are asked for. Arrange appraisal access before the appraiser calls, and warn the tenant. Get insurance bound early with the LLC as named insured, not a personal name. Send the current tax figure from the county record. Send the lease, or say plainly that the unit is vacant so the rent schedule is ordered up front. Answer conditions the day they arrive. Files that do those six things close at the short end of the range routinely.
What blows the timeline?
Appraisal disputes, first of all — a value that comes in short means a rebuttal with comparables and a review, and that is a week minimum. Condo questionnaires, because they move at the management company's speed rather than yours. Insurance in Florida and coastal Texas, where wind and flood placement and inspections on older roofs can take longer than everything else combined. And notarisation for a foreign-national borrower signing abroad, where consular or apostille logistics vary by country and should be started early rather than at the end.
Can you go faster than twenty-one days?
Sometimes, and it depends on the third parties rather than on willingness. A rush appraisal can be ordered where an appraiser has capacity, title can occasionally be expedited, and an underwriter here owns your file start to finish so there is no internal handoff to lose a day to. What does not compress is a title defect, a rebuttal, or a carrier that will not bind. If you have a hard deadline — an auction settlement, a 1031 window, a bridge loan maturing — say so at application so the file is sequenced around it.
A worked example — a twenty-one day file, day by day
| Day 0 | Term sheet signed · appraisal, title and insurance ordered |
|---|---|
| Day 1 | Entity documents and lease received · processing opens |
| Day 3 | Appraisal inspection scheduled with the tenant |
| Day 6 | Title commitment received · no defects |
| Day 8 | Insurance bound in the LLC name · binder in file |
| Day 10 | Appraisal delivered with rent schedule · value supports |
| Day 12 | Underwriting conditions issued |
| Day 14 | Conditions cleared same week |
| Day 16 | Clear to close |
| Day 18 | Closing documents drawn and sent |
| Day 21 | Signing and funding |
| Elapsed | 21 days from signature |
| Same file with an appraisal rebuttal | ≈ 28–30 days |
The only difference between the twenty-one day version and the thirty day version is usually two items: how quickly the appraisal gets scheduled and whether the insurance binder is in the entity's name the first time. Illustrative only — third-party timelines vary and no closing date is guaranteed.
WHAT WE NEED FROM YOU
- Entity documents. Articles, operating agreement and EIN letter — send on day one.
- Lease or rent roll. Or confirmation the unit is vacant, so the rent schedule is ordered early.
- Bound insurance binder. Named insured must match the borrowing entity exactly.
- Purchase contract or payoff statement. Depending on purchase or refinance.
- Appraisal access contact. Whoever can let the appraiser in, with a phone number.
- Two months of bank statements. Reserves are six months of PITIA.
- Any deadline you are working to. Auction settlement, 1031 window, or a maturing bridge loan.
FREQUENT QUESTIONS
- How quickly can I get a term sheet?
- Within 24 hours of the underwriter call, and the call is usually the same business day as a complete application.
- Does a credit pull happen before the term sheet?
- Only when you want one. Pricing a deal takes no credit pull; the pull happens when you ask for the term sheet and it sets the tier.
- What is the single slowest part?
- The appraisal, nearly always — scheduling and access rather than the report itself.
- Can the rate change while the file is in process?
- No. The rate locks at the signed term sheet and the desk does not reprice mid-file.
- Is a cash-out refinance slower than a purchase?
- Marginally, because a payoff statement and the seasoning evidence are added, but it runs on the same 21 to 30 day range.
RELATED
Last reviewed 6 September 2026 · Silt Capital lends on 1–10 unit residential DSCR only.