Real Estate Investor (DSCR) Loan Program

620 Minimum Credit Score

  • Maximum LTV 85%
  • Maximum Loan Amount $4,000,000
  • Rental Lease or Appraisal Form 1007
  • DSCR DSCR - .75% - 1.5%
  • No Traditional Income Documentation
  • DTI - N/A
  • Employment Types: No Job Needed
  • Income Documentation Types: N/A

Jumbo DSCR Loan Amounts: Loan-to-Value (LTV) & FICO Score

  • $4,000,000

    • Purchase: 75% LTV with 700 FICO or 70% LTV with 680 FICO
    • Cash Out: 70% LTV with 680 FICO or 70% LTV with 700 FICO
  • $3,500,000
    • Purchase: 80% LTV with 700 FICO or 75% LTV with 660 FICO
    • Cash Out: 70% LTV with 720 FICO or 65% LTV with 700 FICO
  • $2,500,000

    • Purchase: 75% LTV with 700 FICO or 70% LTV with 680 FICO
    • Cash Out: 75% LTV with 720 FICO or 70% LTV with 700 FICO

3 Months Reserves Requirements:

  • Purchase 6 Months (PITI/PITIA) to 80% LTV or 3 Months to 75% LTV
  • Cash Out - Not Required
    • Above + 3 Months PITI/PITIA for each additional Real Estate Owned (REO)

Eligible Property Types:

  • Single Family Residence (SFR)
  • Condos - Warrantable
  • No Condotels

Eligible Occupancies:

  • Non-Owner/Investment Only
  • Second/Vacation Homes - Not Eligible

Available Terms:

  • ARM: 3,5 and 7 year
  • 40-year fixed Fully Am or Interest Only Options are Available with 660 Credit Score

Credit Criteria:

Tradelines:

  • 1 - 36-Month payment history
  • 2 - 24-month Previous History Open and Active

Credit Scores:

  • 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)

 

Loan Scenario Form - Credit Check Not Required

  

Available in the Following States:

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