DSCR INVESTOR
Qualify on Property Cash-Flow Alone
Our Investor Cash Flow mortgage program allows your clients to qualify based on rental analysis to determine property cash flow. No personal income required to qualify. This saves you from submitting complicated income statements and tax returns.
DSCR - Rents to Qualify
Overview
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DSCR as Low as 0.75 or Lower (No Ratio Program)
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ARMs and Fixed Products Offered with Interest-Only Options
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LTVs up to 85%
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Loan amounts $250,000 to $3,500,000
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SFR, Condo, 1-4 units, Cond-tel and 5-8 Unit Properties
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Minimum FICO 660
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Vesting in Corporations & LLC’s allowed
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Unlimited financed properties
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6 Months Seasoning for Cash-Out Required
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Appraisals require forms 216/1007 to be included
How to Calculate Monthly Income
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Debt Service Coverage Ratio (DSCR) is used to qualify
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Qualification based on property cash flow (take 100% of the gross yearly rents divided by the PITI x 12 (yearly) of the subject property)
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Rents are derived from the lesser of the rental/lease agreement or the rent survey (Form 1007)
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Use the note rate or interest-only payment for qualifying
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No job or personal income and no 4506T required
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No DTI calculation is used – Loans under the DSCR Investor Program are classified as business loans. Appendix Q and ATR requirements do not apply
Be sure to choose DSCR under the doc type drop down in the Quick Pricer.