What is a DSCR Loan? The debt service coverage ratio percentage is used by lenders to determine the cash flow on an investment property.
This allows the mortgage lender to access the borrower’s ability to repay the mortgage loan. The DSCR percentage is calculated by dividing the market rent by the new qualifying subject PITI payment.
Highlights of this product include:
Minimum of 3 months reserves
Only 20% down needed
Interest Only available
30 day mortgage lates accepted
Loan amounts up to 3 million
2-4 units and non warrantable condos allowed
Can close in an LLC
Loan qualification: market rent must equal at least 75% of the proposed PITI. It’s that simple!
Interested in learning more about DSCR loans and other mortgage products? Contact your certified mortgage advisor, Chris Graves, at 978-376-5389 or PM me here. #DSCR #investmentproperties #multifamily #nonwarrantablecondo #purchase #refinance #mortgage #CMA