DSCR Investment property Mortgage Loans – This is a non-owner occupied loan (NOO) for real estate investors that qualifies the borrower on only the rental income and not on personal tax returns.
DSCR Loans are mortgage loans designed for 1-to-4 unit investment property owners for investors.
The non-owner-occupied market is anything but predictable, but one thing is certain – with Fannie Mae and Freddie Mac restricting their non-owner-occupied investments and over 24 million non-owner-occupied properties in the USA, the opportunity has never been greater to expand your non-owner occupied product offerings to fill this need.
- Qualifies off the cash-flow of the rental property
- No Income, No Employment
- Simple Guidelines
- Gift Funds Allowed
- First Time Investors Welcome
- Escrows Not Required
- Unlimited Financed Properties Allowed
- Loan Amounts From $100,000 to $5,000,000
- No income, no employment – qualifies on cash flow of property
- Minimum DSCR .75
- No Ratio (No DSCR with minimum 700 FICO and maximum 75% LTV (Under .75 DSCR Ratio)
- Non-warrantable condos allowed
- Up to 80% LTV
- Credit scores starting at 600
- Gift of Equity allowed
What types of NOO properties are included?
NOO 1-to-4 unit investment properties, short-term vacation properties, that do not need to currently be rented.
5-9 Unit properties
Mixed-use properties or condotels do not qualify.
What makes DSCR different?
- Qualifies off the rental income NOT borrower income.
- No traditional income documents (No W2s, No Tax returns, etc.).
- Does not require reserves.
- First-time investors allowed (no LTV reduction).
- No pricing tiers (and no tears)!
- Gift funds allowed.
- No limit on financed properties.
- No term adjustments.
- 12 or 24 months personal or business bank statements – no tax returns required
- Loans to $3 million
- Up to 95% LTV, No MI
- Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- Credit scores starting at 600
- FICOs starting at 600
- LTVs up to 95%
- Loan Amounts to $5 million
- DSCR & No Ratio FICOs starting at 680, 620 (no ratio), great for Business Owners and Investors
- Cash-out Max 70% Property Value (check our matrix)
- Full Doc/Alt Doc
- ITIN
- Bank Statement
- Fixed, ARM & Interest Only
