This program at 85% LTV is available for purchase transactions and rate & term refinances and has recently been expanded to allow for eligible 2-4 multi-unit properties. This should serve as a value-added enhancement for investors that wish to turbo charge their portfolios with high cash-flow multi-units with maximum leverage and a suitable fixed rate loan program for long-term investing. 

Welcome to the realm of property-based loans specifically for real estate investors. The DSCR investor loan or otherwise termed No Doc investor loan, is a terrific vehicle for people that are interested in investment properties. The DSCR loan is exempt from qualification mandates and evaluates the properties based marketable cash flow offset against the principal interest, taxes, insurance and other mandatory monthly cost, if applicable. Beyond that, it focuses on the borrower’s credit score and verifying the basic funds to close plus reserves.

DSCR stands for Debt Service Coverage Ratio.  This figure is derived by determining the marketable rent for a given property and dividing it by the total mandatory monthly property cost. 100% of short-term Airbnb type rental income allowed (Program A).

85% LTV program parameters:

• Purchases and rate & term refinances
• Minimum 720 credit score
• Minimum loan amount $150,000
• Maximum loan amount $1MM
• Minimum Debt Coverage Ratio 1.00
• Single family, PUD’s, and eligible condominiums
• 2-4 multi-unit properties
• Properties can be owned in and LLC
• 5-8 unit properties available up to 75% LTV as standard DSCR loans

Program options/restrictions above standard DSCR program parameters:

• Cash-out after only six months ownership (seasoning) using the current appraised value (Investor program A only)
• No gift funds allowed
• Down payment, closing costs and reserve funds must be sourced and seasoned 60 days. 
• No Interest Only options (IO capped at 80% LTV)
• No short-term rentals allowed above 80% LTV

We offer No Doc (DSCR) Cash out or Rate/term permanent financing for investor properties that were recently acquired and rehabbed, based off the current appraised value, and not your cost basis.  No title seasoning and no minimum ownership period required to use the appraised value with MLS before pictures and evidence of rehab/improvements from appraiser.

85% LTV DSCR-No Doc Investor is available in the following states:

Program A - 720 Minimum Credit Score: VA, MD, PA, FL, AL, CT, CO, GA, IN, LA, MO, NC, NM, OH, OK, SC, TN, TX, UT, WA and WI

Program B - 700 Minimum Credit Score: VA, MD, PA, FL, AL, AR, CO, CT, GA, HI, IN, IA, KS, KY, LA, MI, MO, MT, NE, NJ, NM, OH, OK, SC, TN, TX, DC, WV, WI, WY

Program C - Other DSCR Options - 660 Minimum Credit Score: AK, CA, DE, ID, IL, ME, MA, MS, NH, NY, RI, SD