The DSCR Mortgage Loan Program offers financing options with a Debt Service Coverage Ratio as low as 0.75. Borrowers can choose from adjustable-rate mortgages (ARMs) with interest-only options or fixed-rate products.
The program allows for loan-to-value (LTV) ratios of up to 80%, with loan amounts ranging from $200,000 to $4,000,000. It supports various property types, including single-family residences (SFR), condos, 1-4 unit properties, and condotels.
Credit Notes:
A minimum FICO score of 680 is required, with exceptions for scores as low as 660. The program permits vesting in corporations and LLCs, and there are no limits on financed properties. Appraisals must include forms 216 and 1007.
Jumbo DSCR Program Underwriter Notes:
DSCR as low as 0.85 by exception
Arms (Interest only available) and Fixed Products Offered
LTVs up to 75% (80% by exception)
Loan amounts $200,000 to $2,500,000 (up to $3.5M by exception)
Eligible Property Types:
* Single Family Residence, Condo, Condotel, Duplex, Triplex, 4 Unit
* Minimum Credit Score 640
* Vesting in Corporations & LLC’s OK
* Unlimited financed REO properties
* Appraisals require Market Rental Survey to be included
Available in the Following States:
Arizona, Arkansas, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Washington, Wisconsin, and Wyoming.
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