Can I use projected rent to qualify for a DSCR loan?

Yes. Most DSCR lenders use the higher of market rent (per the 1007 rent schedule) or the actual lease for purchases and vacant properties.

DSCR loan underwriting uses one of three rent figures: actual lease (existing tenant), market rent from the appraiser's Form 1007 Single-Family Comparable Rent Schedule, or short-term-rental projections (for STR programs). For a purchase of a vacant property, the lender uses the higher of 1007 market rent or a signed future lease. For a property with an existing lease below market, most lenders accept the lease but a few will use market rent if the appraisal supports it. For an existing tenant on a long-term below-market lease, the in-place rent governs. Short-term-rental DSCR programs accept projected revenue from AirDNA, third-party reports, or the borrower's own 12-24 month historical statements, typically discounted 25-35% to reach a stabilized annual figure. The DSCR ratio is then calculated as (annual qualifying rent) / (annual PITIA). Lenders cap how aggressive they go on projections: if the projected rent is more than 110-115% of the 1007 market rent without strong supporting evidence, most lenders will trim it back to the appraiser's figure.