Every now and then I like to spotlight unusual loan products we have.
This particular product is a loan for investment properties. 1 to 4 family properties.
It’s called a Debt Service Coverage loan.
It allows you to use the rental income to qualify your purchase. …in other words you don’t need to provide personal income information to qualify and purchase the home.
Here are some of the guidelines…
NO PERSONAL INCOME NEEDED TO QUALIFY
Investment Properties Only
Cash out okay for reserves!
Only Three Month Tittle Seasoning required to use new Appraisal Value for R&T & Cash out.
80% LTV Purchase & R&T – 680+ FICO
80% LTV Cash out- 720+
70% LTV Cash out -680+
65% LTV Cash out -640+
Minimum FICO 620
5/1 ARM, 7/1 ARM, 15yr fixed, & 30yr fixed loan options (along with IO)
If you think this loan product might help you or someone you know, let us know!
Thanks for reading.
Have a good day!
Did you know we have a mortgage program that doesn’t require any income documentation when…
Did you know even if you have “challenged” credit you can still get a low…
If you receive money from the State or a County sponsored organization for providing foster…
I wanted to address the two most common questions that I get regarding reverse mortgages……
If you purchased a home using your own cash, and now would like to pull…
I wanted to let you know we have a 2% to 5% downpayment and closing…
