Debt Servicing Coverage Ratio

INVESTMENT PROPERTY PURCHASES WITH NO INCOME, INCLUDING 1ST TIME INVESTORS

Debt Servicing Coverage Ratio -What does this mean? If the current rental income or the projected rent from the appraisal whichever is less, are equal to or higher than 75% of the escrowed mortgage payment. You are approved!

• Minimum credit score 620
• Minimum loan amount $75,000
• Maximum loan amount
  • $3 Million 1-4 units
  • $8.5 Million 5-8 units
• LTV, or loan to value starting at 65% of sales price LTV as high as 85% of sales price for a seasoned investor, must have 1 rental property > 1 year LTV reduced by 5% for first time investors Condotels, Nursing/ Care Homes allowed
• Foreign Nationals allowed
• No reserves needed for credit scores 680+
• No trade line requirement with 3 credit scores
• 75% Rate/Term refinances allowed
• 70% Cash out refinances allowed
• Interest rates starting at 7.25%, A.P.R. 7.555%
• Interest rate available 1/12/2023 at 11:35am CST
• $300,000 purchase price, 30% down payment, 740 middle credit score, single family residence.*Interest rate is not guaranteed, with approved credit, not all buyers will qualify, not a commitment to lend, equal housing lender.