Evan and Kylee are awesome to work with and keep you on track every step of the way. Highly recommend them
— Nancy Emerson
Foreign National DSCR Lender in Indiana
Foreign National DSCR Loans in Indiana
Total Quality Lending finances Foreign National investors across Indiana with DSCR loans that qualify on the property’s rental cash flow — not personal U.S. income or tax returns. Up to 75% LTV for purchase, eligible with 680+ credit or No Credit Score, and loan amounts from $150K to $1.5M.
- Max LTV (purchase)
- 75%
- Min credit
- 680 or NCS
- Loan amounts
- $150K–$1.5M
- U.S. income docs
- None
Why Foreign Nationals choose DSCR loans in Indiana
A Foreign National DSCR loan lets non-U.S. citizens build a U.S. rental portfolio in Indiana without W-2s, U.S. tax returns, or a DTI calculation. Approval is based on whether the investment property pays for itself.
- Designed for Foreign National investors — no U.S. citizenship or permanent residency required
- Qualify on the property’s rental cash flow — no personal income, W-2s, or U.S. tax returns
- Up to 75% LTV for purchase (DSCR ≥ 1.00, $1.0M loan)
- Eligible with a 680+ U.S. credit score OR no U.S. credit score
- Loan amounts from $150,000 to $1,500,000
- First-time investors allowed
- Short-term rentals (Airbnb, VRBO, FlipKey) eligible — gross rents × 0.80 / PITIA
- Cash-out can be used to satisfy reserve requirements
Indiana on the ground
Total Quality Lending is headquartered at 630 W Carmel Dr #100, Carmel, IN 46032 — about 20 miles north of downtown Indianapolis, in Hamilton County. Our investor-loan team works Indiana files from the same office that serves all 46+ of our licensed states, with phone, email, and video coverage for borrowers anywhere in the world.
Why investors target the Indianapolis metro
Indianapolis is the largest city in Indiana and the seat of Marion County, with a diversified renter base across logistics, healthcare, higher education, and the public sector. As a Midwest secondary market it typically delivers stronger rent-to-price math than coastal metros — which is why DSCR cash-flow underwriting (where the property must cover its own PITIA) tends to pencil cleanly here.
Indianapolis-area counties and cities we lend in
TQL writes investor loans across the full Indianapolis MSA — Marion County (Indianapolis), Hamilton County (Carmel, Fishers, Noblesville, Westfield), Hendricks County (Avon, Plainfield, Brownsburg, Danville), Johnson County (Greenwood, Franklin, Bargersville), Boone County (Lebanon, Zionsville), Hancock County (Greenfield, McCordsville, Fortville), Morgan County (Mooresville, Martinsville), Madison County (Anderson), and Shelby County (Shelbyville).
Statewide Indiana coverage outside the metro
Beyond Indianapolis, we finance investment property statewide — Fort Wayne (Allen County), Evansville (Vanderburgh), South Bend & Mishawaka (St. Joseph), Bloomington (Monroe, home of Indiana University), Lafayette & West Lafayette (Tippecanoe, home of Purdue), Muncie (Delaware, home of Ball State), Terre Haute (Vigo), Columbus (Bartholomew), Kokomo (Howard), and the Northwest Indiana / Chicago-metro corridor of Gary, Hammond, East Chicago, and Merrillville (Lake County).
Close fast from our Carmel office
Indiana files don't sit in a queue — they're worked from the same Carmel office that runs the program nationally. We aim to close investor loans in as little as 15 days when title, appraisal, and asset documentation are clean. Call (800) 304-1925 to speak with the team.
Indiana Foreign National DSCR at a glance
- Maximum LTV (DSCR ≥ 1.00, ≤ $1.0M)
- 75% purchase
- Minimum credit score
- 680 (or No Credit Score)
- Loan amounts
- $150K – $1.5M
- Occupancy
- Investment only
- Loan purposes
- Purchase, Rate/term refinance, Cash-out refinance
- Reserves
- 6 months PITIA
Available terms
- 15-, 30-, and 40-year fixed
- 5/6, 7/6 & 10/6 ARMs (30-year term)
- Interest-only options (40-year ARM + IO combo allowed)
Eligible property types
- Single-family (attached & detached)
- 2–4 unit properties
- Condominiums
- Condo-hotel projects
2–4 unit, Condominium, and Condo Hotel property types cap at 70% LTV on purchase and 65% on refinance. Rural properties are not eligible on this program; acreage is limited to 2 acres and must not meet the rural definition.
Indiana Foreign National DSCR — LTV table
LTV caps depend on (a) the property’s Debt-Service Coverage Ratio (DSCR) and (b) the loan amount tier. Both 680+ FICO and No-Credit-Score borrowers receive the same LTV caps.
DSCR ≥ 1.00
| Max loan | Purchase | R/T refi | Cash-out |
|---|---|---|---|
| $1M | 75% | 65% | 65% |
| $1.5M | 70% | 60% | 60% |
DSCR < 1.00
| Max loan | Purchase | R/T refi | Cash-out |
|---|---|---|---|
| $1M | 65% | 60% | 60% |
| $1.5M | 65% | — | — |
Refinances on the $1.5M tier are not available when DSCR < 1.00.
Short-term rental (Airbnb & VRBO) financing for Foreign Nationals in Indiana
Running a short-term rental in Indiana? Foreign National DSCR financing works for Airbnb, VRBO, and FlipKey properties (condo-hotel projects excluded). Qualifying income is a 12-month rental average; gross rents are reduced by 20% to reflect extraordinary operating expenses, then divided by PITIA. LTV caps at 70% on purchase and 65% on refinance.
What Foreign National borrowers in Indiana need to provide
- Valid, unexpired passport (with photograph)
- Valid U.S. visa OR I-797 with valid extension dates and I-94 OR Visa Waiver Program documentation
- Minimum 30-day asset verification (U.S. or foreign account)
- 6 months of PITIA in reserves (cash-out may be used to satisfy)
- Subject-property appraisal with FNMA Form 1007 or 1025 reflecting market rents
- All credit-review documents must be within 120 days of the Note date
Gift funds are not allowed. Borrowers and Guarantors are screened against the U.S. Treasury OFAC sanctioned-countries list — citizens of OFAC-sanctioned countries are not eligible.
Indiana Foreign National DSCR FAQs
Can a Foreign National get a DSCR loan in Indiana?
Yes. Total Quality Lending offers Foreign National DSCR loans throughout Indiana for investment properties. The borrower does not need to be a U.S. citizen or a lawful permanent resident — qualification is based on the property's rental cash flow, not personal U.S. income or tax returns. Owner-occupied and second-home occupancy are not eligible.
What credit score do I need for a Foreign National DSCR loan in Indiana?
Foreign National DSCR loans in Indiana are available with a minimum 680 U.S. credit score, or with No Credit Score for borrowers without an established U.S. credit history. LTV caps are the same in either case.
What is the maximum LTV on a Foreign National DSCR loan in Indiana?
In Indiana, the maximum LTV on a Foreign National DSCR loan is 75% for a purchase (DSCR ≥ 1.00, up to $1.0M loan size). The $1.5M tier caps at 70% purchase / 60% refinance, and DSCR < 1.00 transactions cap at 65% purchase / 60% refinance.
How much can I borrow on a Foreign National DSCR loan in Indiana?
Loan amounts on the Foreign National DSCR program in Indiana range from $150K to $1.5M. The $1.5M tier carries lower max LTVs than the $1.0M tier.
Can I use short-term rental (Airbnb) income to qualify on a Foreign National DSCR loan in Indiana?
Yes. Short-term rentals (Airbnb, VRBO, FlipKey) are eligible in Indiana on this program, capped at 70% LTV for purchase and 65% LTV for refinance (condo-hotel projects are excluded from STR pricing). DSCR is computed as gross rents × 0.80 / PITIA based on a 12-month rental average.
What documentation do Foreign Nationals need to provide?
Each borrower must provide a valid, unexpired passport and either a valid U.S. visa, an I-797 with valid extension dates plus I-94, or — for borrowers from countries in the U.S. State Department's Visa Waiver Program — a current copy of the participating-countries list. Canadian citizens do not require a nonimmigrant visa. Asset documentation is at least 30 days; all documents (credit, assets, title) cannot exceed 120 days at the Note date.
Are there reserve requirements on a Foreign National DSCR loan in Indiana?
Yes. Foreign National DSCR loans require 6 months of PITIA in reserves. Cash-out proceeds may be used to satisfy this requirement.
Where is Total Quality Lending headquartered?
Total Quality Lending is headquartered at 630 W Carmel Dr #100, Carmel, IN 46032, in Hamilton County and the Indianapolis metropolitan area. The Carmel office originates and services loans across all licensed states; California-based licensing (DFPI No 60DBO-108369, NMLS #1933377) covers our regulatory footprint nationally.
Which Indianapolis-area counties does Total Quality Lending lend in?
We finance investor properties across the full Indianapolis-Carmel-Anderson MSA: Marion County (Indianapolis), Hamilton County (Carmel, Fishers, Noblesville, Westfield), Hendricks County (Avon, Plainfield, Brownsburg, Danville), Johnson County (Greenwood, Franklin, Bargersville), Boone County (Lebanon, Zionsville), Hancock County (Greenfield, McCordsville, Fortville), Morgan County (Mooresville, Martinsville), Madison County (Anderson), and Shelby County (Shelbyville).
Which other Indiana cities does TQL finance investment property in?
Statewide. Outside the Indianapolis metro we regularly write loans in Fort Wayne, Evansville, South Bend, Mishawaka, Bloomington, Lafayette, West Lafayette, Muncie, Terre Haute, Columbus, Kokomo, and the Northwest Indiana / Chicago-metro corridor (Gary, Hammond, East Chicago, Merrillville). Indiana is one of our licensed states, so any investment property in the state is eligible subject to program guidelines.
How fast can TQL close on an Indiana investment-property loan?
On clean files — title, appraisal, and asset documentation already in motion — TQL targets closings in as little as 15 days. The team is set up to compress the same underwriting that out-of-state investors get from coastal lenders, with all servicing run out of the Carmel office.
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Foreign National DSCR loans in other states
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What Indiana foreign-national investor clients say about TQL
We had the pleasure of working with Dominick and Katie, and it was a wonderful experience from start to finish. They are both knowledgeable, professional, and incredibly kind. Their communication, attention to detail, and commitment to making the transaction go smoothly truly stood out. As a title company, we appreciate working with lenders who are responsive, organized, and collaborative, and Dominick and Katie exemplify all of these qualities. We look forward to working with them again and highly recommend them to anyone looking for an experienced and dependable lending team.
— Sara Heyl
I had a great experience working with my mortgage lender and would highly recommend them. They made the entire process smooth, fast, and stress-free. Everything was handled accurately and on time, communication was always clear, and the fees were very reasonable. I especially appreciated their flexibility and the variety of loan products they were able to offer. They took the time to understand what I was trying to accomplish and helped find the right financing solution for my situation. Another big plus was their network of professionals and related services. Since I was purchasing the property to start a short-term rental business, having access to knowledgeable and reliable people in different areas made the whole process much easier. Overall, they were responsive, knowledgeable, flexible, and dependable throughout the entire process. I would definitely work with them again on my next investment property.
— Joon-Hui Yoon