Non-QM – DSCR (Debt Service Coverage Ratio) Loan

Who is our Non-QM – DSCR Loan Best Suited For

This loan is an excellent option for an Investor looking to Purchase or Refinance a Home and cannot / does not want to provide "Traditional" Income documentation i.e., Tax Returns as a means of qualification. Unlike most loan programs in the marketplace, this loan allows you to qualify for the loan using the rental income derived from the property. This Program is ideal for an Investor who wants to use the Cash Flow from the property as a means of qualifying. We do not require full tax returns or Bank Statements to verify deposits.

How Non-QM – DSCR Loan Works

These loans are Portfolio Loans that are not connected to any Government Agency. Approvals are heavily focused on the property cash flow.

Loan Program Highlights for Non-QM – DSCR Loan

  • Loan Amounts up to $3.00 Million for Purchase Transactions and $2 Million for Cash-out Refinance Transactions
  • Maximum Loan to Value is 75.00% on Purchase Transactions and 70.00% for Cash-out Refinance Transactions
  • To qualify the property can fit into 3 different Debt Service Buckets: A Debt Service Greater or Equal to 1.15, A Debt Service Greater or Equal to 1.10 – 1.14, or a Negative Debt Service
  • Must be able to demonstrate a 12-month history of ownership and management of rental properties. Commercial properties are acceptable if there is a majority ownership positions
  • A minimum credit score of 680 is required for the Program
  • No DTI Is required
  • Minimum of 6 Months Reserves required**
  • This Program is eligible for Purchase transactions or Refinance Rate and Term or Cash Out
  • Investment properties only are eligible for this Program
  • Single Family Homes, Condominiums, and 2- 4 Unit homes are all eligible for financing
  • Non-warrantable Condo financing available on a case by case basis
  • Gift funds eligible, borrower must have at least 5% of their own money in the transaction
  • First Time Home Buyers are Eligible
  • Interest Only Available
  • 5/7/10 year ARM – Available
  • 30 and 15 Year Fixed – Available
  • Minimum Loan Amount is $250,000.00
* Loan Amounts vary based on LTV, Credit, and overall creditworthiness
** More reserves will be required for Loan Amounts over $1,000,000.00