Apt building financing and personal finances
I'm learning about/shopping for financing for 5+ unit residential properties, after having only owned 2-3 unit buildings. I'm finding that the banks only care about the property itself supporting the loan, even though they are not non recourse loans. Having a high income or net worth ("global factors") doesn't seem to factor in (I imagine it would factor in if personal finances were negative though!). In the 2-3 unit world it was always the combined finances that fed into a debt to income ratio and that was the hurdle. The rent to market value ratio is weak on some properties in my area so it seems to meet the 1.2-1.25 DSCR I've usually been quoted I have to put down 40%. (I realize that I could go to another area with more favorable cap rates etc, but I don't wish to do that for various reasons beyond the scope of this post)
My question is if I keep shopping will I find a bank that will lend at a weak DSCR based on my global finances or are property finances always all that matters? I have been talking with local banks. I spoke with one national bank and that was a waste of time (they required 1.5 DSCR and 50% LTV)