Hello!
Did you know we have a loan product now that allows you to purchase investment property (up to 29 units) without producing income documentation?
We do. They are called Debt Service Coverage Loans.
As long as the rent from the property will cover the mortgage payment, that is all the income documentation we need.
This means there is never any kind of debt to income issues on these loans, and there is no limit to the number you can do.
You should be aware of two things however…
1) You will have to put down anywhere from 25% to 15% depending on your credit score.
2) Rates will be a bit higher than the conforming rate, but they are still reasonable.
So, if you want to purchase investment property, but can’t really provide income documentation this loan may be for you.
You can contact our office to get rates and an estimate for your situation.
That’s it for today!
Thanks for reading!
Brett