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 10% to 25% 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
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…
