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DSCR – Real Estate Investor Program to $10,000,000

Employment is not required for DSCR qualification. Income is generally documented using rental leases or an appraisal-based market rent analysis rather than traditional personal income documentation. Debt-to-income ratio is not applicable because qualification is based on property cash flow. This program is available for purchase, rate-and-term refinance, and cash-out refinance transactions.

Income Documentation – None | No Ratio

This Alt Doc loan program is for buyers that have extraordinary or unconventional income and documentation including self-employed borrowers and fixed income along with previous credit challenges due to inconsistent employment, foreclosure, bankruptcy, short sale, divorce, and or health issues.

This loan program is specifically designed to bridge the gap and resolve the problem that prevents good borrowers from obtaining mortgage credit. Manual underwriting through intelligent guidelines brings forth opportunity of home ownership to borrowers of all kinds

DSCR Credit Score, LTV and Reserve Requirement

Loan Amount: $1,500,000

Minimum Credit ScoreLoan-to-ValueReserves
72085% LTV3 Months Reserves
70080% LTV3 Months Reserves
68075% LTV3 Months Reserves
66070% LTV6 Months Reserves
64065% LTV6 Months Reserves
62060% LTV9 Months Reserves
60055% LTV9 Months Reserves

Loan Amount: $2,000,000

Minimum Credit ScoreLoan-to-ValueReserves
72085% LTV3 Months Reserves
70080% LTV3 Months Reserves
68075% LTV6 Months Reserves
66070% LTV6 Months Reserves
64065% LTV9 Months Reserves
62060% LTV9 Months Reserves
60055% LTV9 Months Reserves

Loan Amount: $2,500,000

Minimum Credit ScoreLoan-to-ValueReserves
72085% LTV3 Months Reserves
70080% LTV3 Months Reserves
68075% LTV6 Months Reserves
66070% LTV9 Months Reserves
64065% LTV9 Months Reserves
62060% LTV12 Months Reserves

Loan Amount: $3,000,000

Minimum Credit ScoreLoan-to-ValueReserves
72085% LTV6 Months Reserves
70080% LTV6 Months Reserves
68075% LTV9 Months Reserves
66070% LTV12 Months Reserves
64065% LTV12 Months Reserves

Loan Amount: $3,500,000

Minimum Credit ScoreLoan-to-ValueReserves
72080% LTV9 Months Reserves
70075% LTV9 Months Reserves
68070% LTV12 Months Reserves
66065% LTV12 Months Reserves
64060% LTV18 Months Reserves

Loan Amount: $4,000,000

Minimum Credit ScoreLoan-to-ValueReserves
72075% LTV12 Months Reserves
70070% LTV12 Months Reserves
68065% LTV18 Months Reserves
66060% LTV18 Months Reserves

Cash Out Refinance Loans

Loan Amount: $1,500,000

Minimum Credit ScoreLoan-to-ValueReserves
72080% LTV6 Months Reserves
70075% LTV6 Months Reserves
68070% LTV9 Months Reserves
66065% LTV12 Months Reserves

Loan Amount: $2,000,000

Minimum Credit ScoreLoan-to-ValueReserves
72075% LTV6 Months Reserves
70070% LTV6 Months Reserves
68065% LTV9 Months Reserves
66060% LTV12 Months Reserves

Loan Amount: $2,500,000

Minimum Credit ScoreLoan-to-ValueReserves
72075% LTV12 Months Reserves
70070% LTV12 Months Reserves
68065% LTV18 Months Reserves
66060% LTV18 Months Reserves

Loan Amount: $3,000,000

Minimum Credit ScoreLoan-to-ValueReserves
72075% LTV12 Months Reserves
70070% LTV12 Months Reserves
68065% LTV18 Months Reserves
66060% LTV18 Months Reserves

Loan Amount: $3,500,000

Minimum Credit ScoreLoan-to-ValueReserves
72070% LTV12 Months Reserves
70065% LTV18 Months Reserves
68060% LTV18 Months Reserves

Loan Amount: $4,000,000

Minimum Credit ScoreLoan-to-ValueReserves
72070% LTV18 Months Reserves
70065% LTV24 Months Reserves
68060% LTV24 Months Reserves

Loan Amount: $4,500,000

Minimum Credit ScoreLoan-to-ValueReserves
72070% LTV36 Months Reserves
70065% LTV36 Months Reserves
68060% LTV36 Months Reserves

Loan Amount: $10,000,000

Minimum Credit ScoreLoan-to-ValueReserves
76065% LTV48 Months Reserves
74060% LTV48 Months Reserves

Eligible Property Types:

  • Single Family Residence (SFR)
  • 2 Unit
  • 4 Unit
  • Condos Not Allowed

Credit Criteria Notes:

  • Mortgage or Rent Late Payments – 2- 30-day lates previous 12 months
  • Bankruptcy Seasoning – 12 Months Seasoning
  • Foreclosure Seasoning – 12 Months Seasoning
  • Short Sale Seasoning – 12 Months Seasoning
  • Deed-in-Lieu Seasoning – 12 Months Seasoning

Underwriter Notes:

  • Maximum Purchase LTV – 85%
  • Maximum Cash Out LTV – 80%
  • Minimum Credit Score – 600
  • Interest-Only Available
  • 3 Year Prepayment Penalty available for lower interest rate
  • Cash Out for Debt Consolidation – OK
  • Cash Out cannot be used for reserve requirements
  • Business Entity Title (LLC) OK
  • Permanent Resident Aliens OK
  • Gift OK – requires at least 5% borrower contribution from own 2 month seasoned funds
  • Seller Concessions to 5% Non-Occupant Co-Borrower – OK

Eligible Occupancies:

  • Owner-Occupied
  • Vacation Homes

Available Terms:

  • ARM’s – 3 Year, 5 Year
  • Fixed – 15 Year, 20 Year, and 30 Year
  • Interest-Only Available

Loan Scenario Form – Credit Check Not Required

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Missouri, Nevada, New Hampshire, New Jersey, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, and Washington.

Last Updated on 1 week ago by Broker Mortgages

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