Unconventional Real Estate Investor DSCR Loan Program
Designed for investors who prioritize cash flow over traditional income documentation, our DSCR (Debt Service Coverage Ratio) loan program offers flexible financing with a minimum credit score of 620.
Debt Service Coverage Ratio – 640 Minimum Credit Score
Perfect for jumbo and super jumbo properties, this program allows for purchase loans up to $4,000,000 and cash-out refinances up to $3,500,000. Max LTVs vary based on credit score, offering up to 85% LTV with a 700+ FICO for purchases, and up to 80% LTV for cash-out refinances. Ideal for experienced investors seeking to maximize leverage without full income verification.
Jumbo and Super Jumbo Loan Amounts – LTVs & Credit Scores:
Super Jumbo Purchase: $4,000,000
* 85% Loan-to-Value ~ 700 FICO
* 80% Loan-to-Value ~ 680 FICO
* 75% Loan-to-Value ~ 660 FICO
* 70% Loan-to-Value ~ 640 FICO
Super Jumbo Cash Out Refinance: $3,500,000
* 80% Loan-to-Value ~ 700 FICO
* 75% Loan-to-Value ~ 680 FICO
* 70% Loan-to-Value ~ 700 FICO
* 65% Loan-to-Value ~ 680 FICO
Super Jumbo Purchase: $3,500,000
* 75% Loan-to-Value ~ 700 FICO
* 70% Loan-to-Value ~ 680 FICO
* 65% Loan-to-Value ~ 660 FICO
* 60% Loan-to-Value ~ 640 FICO
Super Jumbo Cash Out Refinance: $3,000,000
* 70% Loan-to-Value ~ 700 FICO
* 65% Loan-to-Value ~ 680 FICO
Super Jumbo Purchase: $3,000,000
* 65% Loan-to-Value ~ 700 FICO
* 60% Loan-to-Value ~ 680 FICO
Super Jumbo Purchase: $2,500,000
* 85% Loan-to-Value ~ 700 FICO
* 80% Loan-to-Value ~ 680 FICO
Super Jumbo Cash Out Refinance: $2,500,000
* 80% Loan-to-Value ~ 700 FICO
* 75% Loan-to-Value ~ 680 FICO
Super Jumbo Cash Out Refinance: 1,000,000
* 80% Loan-to-Value ~ 700 FICO
* 75% Loan-to-Value ~ 680 FICO
Underwriter Loan Program Guideline Highlights:
* Maximum LTV 85% Purchase Transactions
* 80% Cash Out Refinance Transactions
* Maximum Loan Amount $15,000,000
* Rental Lease or Appraisal Form 1007
* DSCR – .5% – 1.5%
* Non Traditional Credit OK
* DTI – N/A
* Employment Types: No Job Needed
* Income Documentation Types: N/A
Reserves Requirements:
* Purchase 6 Months (PITI/PITIA) to 80% LTV or 3 Months to 75% LTV
* Cash Out – Not Required
Eligible Property Types:
* Single Family Residence (SFR)
* Condos – Warrantable
* No Condotels
Loan Scenario Form – Credit Check Not Required
Eligible Occupancies:
* Non-Owner/Investment Only
* Second/Vacation Homes – Not Eligible
Available Terms:
* ARM: 3 Year ARM, 5 Year ARM, and 7 Year ARM
* 40-year fixed Fully Am or Interest Only Options are Available with 660 Credit Score
Credit Criteria Requirements
Tradelines Requirements:
One – 36-Month payment history
Two – 24-month Previous History Open and Active
Credit Score Requirements
* 620 Minimum
“Housing Event” Credit Seasoning:
* Bankruptcy – 2 years required
* Foreclosure – 2 years required
* Short Sale – 2 years required
* Deed in Lieu – 2 years required
Underwriter Notes and Highlights:
* Mortgage Lates – 12 Months Seasoning
* First Time Home Buyers – OK
* Gift Funds OK with 5% Minimum Borrower Contribution from Family Immediate Member
* Rent-free housing history OK
* Pre-payment Penalty Options
* Investors: 15 financed Real Estate Owned (REO)
Available in the Following States:
Alabama, Arkansas, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.