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A Summary of the DSCR Loan Purchase
What are DSCR purchase loans?
A Debt Service Coverage Ratio (DSCR) loan—sometimes branded “Investor Cash Flow” financing—is a non QM mortgage designed for non owner occupied 1 to 4 unit properties in which real estate investors can qualify for mortgage financing based on the property’s cash flow instead of personal income*
*Qualification is required. Additional restrictions apply. Program rates, Terms and conditions are subject to change without notice. Reach out to a loan officer for more program information.
FICO down to 660
Up to 80% LTV on purchase, rate/term refinances, and cash-out up to 75%
Cash-out up to $500,000 and proceeds can be used for reserve requirements.
LTV up to 70% for foreign nationals on purchase and rate-term refinances and 60% on cash-out transactions.
First-time investors allowed up to 75% LTV.
Up to 2% seller concessions allowed towards closing.
Gift funds can be used for down payment, closing costs, and reserves after the borrower has documented the minimum required borrower contribution.
Foreign nationals reserves 6 months PITI.
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