Calcolatore DSCR Prestito Commerciale — Formula

Debt Service Coverage Ratio (DSCR)

DSCR is the most important metric lenders use to evaluate commercial real estate loan applications. It measures whether the property generates enough income to cover its debt payments.

Formula

DSCR = Net Operating Income / Annual Debt Service

Lender Requirements

  • Minimum 1.20x: Most conventional lenders require at least 1.20-1.25x
  • 1.25x-1.35x: Standard for most commercial loans
  • 1.40x+: Required for riskier property types or economic conditions
  • Below 1.0x: The property cannot cover its debt payments from income

    • Impact on Loan Amount

    Lenders work backward from DSCR to determine the maximum loan amount: 1. Start with the NOI 2. Divide by the required DSCR to find maximum allowable debt service 3. Calculate the loan amount that produces that debt service

    Amortization vs. Term

  • Amortization determines the payment amount (longer = lower payments)
  • Term is when the remaining balance is due (balloon payment)
  • Most commercial loans have 25-30 year amortization but 5-10 year terms

    • Esempio Risolto

    $180,000 NOI, $1,500,000 loan at 6.5% interest, 25-year amortization, 10-year term.

    1. Monthly payment: approximately $10,133 (25-year amortization at 6.5%)
    2. Annual debt service: $10,133 x 12 = $121,596
    3. DSCR: $180,000 / $121,596 = 1.48x
    4. Cash flow after debt: $180,000 - $121,596 = $58,404
    5. Max debt service at 1.25x: $180,000 / 1.25 = $144,000
    6. DSCR of 1.48x exceeds the typical 1.25x requirement