DSCR Investment Property Loans

DSCR means “Debt Service Coverage Ratio” which is the Monthly Gross Rental Income divided by the payment of the property.

Simply put I will qualify you based on the potential rental income and NOT your personal income. No job is needed. This is for the purchase or refinance of RENTAL (investment) properties only. No owner occupied on this program.

15% down with 720 score

20% down payment with a 660 score

25% down payment with a 600 score.

Short-term rental income is allowed

Interest Only is available for loan amounts over $250,000 and score over 650.

Gift funds are allowed for funds to close in certain circumstances. Borrower must have much of the down payment.

Full Interior / Exterior appraisal required. Appraisal Transfers from other Lenders is allowed under certain circumstances.

Property Types: SFR / Condos / Townhouse / 2-8 Units / Non-Warrantable Condos / Condotels

Eligible Borrowers: U.S. citizens • Permanent resident aliens • Non-Permanent Resident Alien • Foreign Nationals

Housing History

• A 12-month good housing history is required for borrower(s)’ primary residence, unless, the primary residence is owned free and clear.
• Mortgage/rental history is required for all properties. If a borrower’s mortgage or rental history is not reported on the credit report, alternative documentation showing the most recent 12 months’ history (cancelled checks, mortgage/rental statements including payment history, verification of mortgage/rental, etc.) must be provided.

Min Loan Size is $100,000

Reserves are not typically required if down payment is 25% or more.