DSCR Debt Service Coverage Ratio Loan Program
Debt Service Coverage Ratio Loan Program Guidelines and Requirements
Experienced Real Estate Investors – 25 Financed Properties – OK
Most investor loan programs will max the borrower/investor at 10 financed properties. However, on this program, you, at minimum, must own their current primary residence.
Jumbo $10,000,000 Maximum Loan Amount
DSCR% Ratio and Loan Amounts
* .75% to $3,000,000
* 1% to $5,000,000
* 1.25% to $7,500,000
* 1.5% to $10,000,000
Verification of Employment VOE: None – No Tax Returns or 4506-T Form Tax Transcripts
* Income and Employment
* Verification of Employment (VOE) Documentation: None Required
* Verification of Personal Income (VOPI) Documentation: None Required
* No DTI Calculated. All Rental Income Based
* No Tax Returns and No Form 4506-T or Form 4506-C for Tax Transcripts
Credit Score – 600
No DTI Calculated. All Rental Income Based
Cash-in-hand $1M for Business Purposes
Clean Credit Previous 24 Months
700 Credit Score:
* 80% LTV – $2,000,000
* 75% LTV – $2,500,000
660 Credit Score:
* 80% LTV – $1,500,000
* 75% LTV – $2,000,000
* 70% LTV – $2,500,000
620 Credit Score:
* 80% LTV – $1,250,000
* 70% LTV – $1,500,000
* 65% LTV – $2,000,000
600 Credit Score:
* 70% LTV – $1,250,000
* 60% LTV – $1,500,000
Cash Out Available
700 Credit Score:
* 80% LTV – $1,500,000
* 70% LTV – $2,000,000
660 Credit Score:
* 80% LTV – $1,250,000
* 75% LTV – $1,500,000
* 65% LTV – $2,000,000
620 Credit Score:
* 70% LTV – $1,250,000
* 60% LTV – $1,500,000
* 50% LTV – $2,000,000
Available Terms:
* Fixed 30
* ARM’s 5/1, 7/1, 10/1
* Interest-Only Payment Available (40 Year Fixed Rate – with Interest-Only Option with 700 Middle Credit Score)
* Inherited Properties: OK. Includes Properties Obtained via Divorce/Separation or Dissolved Domestic Partnership. 6 Months Inheritance Seasoning Required for Cash Out “Using Market Value”
* Delayed Financing: Not Allowed
Eligible Property Types & Occupancies: Primary Residence, Second Homes – SFR Only, Non-Owner-Occupied / Investment – SFR Only. Non-Warrantable Condos and Condotels OK
Eligible Borrowers: Foreign National, Permanent Resident Aliens, and Non-Permanent Resident Aliens OK
Power of Attorney: OK for Purchase and Rate and Term Refinance
Vesting: Corp and LLC OK
Gaps in Employment – Not Allowed Over 60 Days Without Official Employment Offer Letter
Non-Occupant Co-Borrowers: OK
Available in the Following States:
Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, and Washington.