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What is DSCR Loan?
DSCR, aka rental/investment (residential 1-4 units) loan, is for those who look for financing an investment property using rental income instead of personal income.
Borrowers’ Eligibility:
- Must own a home
- Down payment starts at 20% (Airbnb 25%)
- Cash-out Refi starts at 75% LTV
- FICO starts at 640
Income Documentation:
- Need 6 months PITIA reserve
- No tax return, no W2s needed
- No Income documentation needed
- Using estimated rental income
Where and who can buy?