Good Morning!
If you want to acquire rental properties, but you are having issues proving your income – here’s one tool you can use…
It’s called a Debt Service Coverage loan.
We take the estimated amount the property would rent for. We take a percentage of that rental number (usually between 70% and 80%), and as long as that number covers the mortgage payment – you are ok income wise.
Down payments average around 20% on these type of loans – credit score depending.
If you think this might be a useful tool for you to acquire rental property – please let us know! We are happy to help!
Thanks for reading!
Have a great day!
Brett