Did you know we have Debt Service Coverage programs for non owner occupied investment property?
In other words we rely solely on the income from the property to qualify for the debt ratio to purchase a property.
It’s a pretty simple program.
We take the income the property produces.
Subtract the expenses from the property.
If the left over amount is sufficient to make the full PITI mortgage payment then the property passes.
Loan to value ratios up to 80% depending on credit score.
Some reserves are required, depending on the amount of the loan.
It’s a great program.
That’s it for today!
Thanks for reading!
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