This is not a commitment to lend.  Not all borrowers will qualify for the loan programs listed.  All program terms and conditions are subject to change and may be discontinued without prior notice. Contact loan originator for program questions and scenarios.  

DEBT SERVICE COVERAGE RATIO LOANS

RESIDENTIAL LENDING BASED ON THE INCOME POTENTIAL OF THE HOME.

DESIGNED FOR SEASONED INVESTORS LOOKING FOR A LOW-DOCUMENTATION PROGRAM, BUT WITHOUT THE HARD MONEY INTEREST RATES AND TERMS.

This is a called a DSCR (Debt Service Coverage Ratio) Program.  When the appraisal is ordered, the appraiser performs a supplemental report called a market rental analysis which provides the average market rent for homes in the surrounding area. Then, this number is compared to the full monthly payment on the new loan.  (example: A ratio of 1.0 means that the rent supports 100% of the new payment)  

• DSCR ≥ 1.15   Minimum Down Payment of 30% with 700 FICO *or* 60% with 680 min FICO
• DSCR 1.0 – 1.14  Minimum Down Payment of 35% with 720 FICO *or* 60% LTV with 680 min FICO
• DSCR < 1.0   Minimum Down Payment of 40% with a 720 FICO