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What are you looking to do?

What are you looking to do?

Purchase

Purchase

Refinance

Refinance

Non-QM - DSCR (Debt Service Coverage Ratio) Mortgage

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

This mortgage 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 mortgage programs in the marketplace, this mortgage allows you to qualify for the mortgage 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 Mortgage Works

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

Mortgage Program Highlights for Non-QM – DSCR Loan

  • Mortgage Amounts up to $3 Million for Purchase Transactions and $2 Million for Cash-out Refinance Transactions
  • Maximum Loan to Value (LTV) is 75% on Purchase Transactions and 70% 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 Mortgage Amount is $300,000.00
Mortgage Amounts vary based on LTV, Credit, and overall creditworthiness*More reserves will be required for Mortgage Amounts over $1,000,000.00**

MBANC, A MORTGAGE LENDER. MORTGAGE BANK OF CALIFORNIA DBA MBANC. NMLS ID # 38232 (NMLS CONSUMER ACCESS SITE). ARIZONA MORTGAGE BANKER LICENSE - LICENSE # 0943170. CALIFORNIA - DBO FINANCE LENDERS LAW LICENSE - LICENSE # 60DBO45280. CALIFORNIA - DRE REAL ESTATE CORPORATION LICENSE ENDORSEMENT - LICENSE # 01521655. COLORADO MORTGAGE COMPANY REGISTRATION - REGULATED BY THE DIVISION OF REAL ESTATE. CONNECTICUT MORTGAGE LENDER LICENSE - LICENSE # ML-38232. DISTRICT OF COLUMBIA MORTGAGE DUAL AUTHORITY LICENSE - LICENSE # MLB38232. FLORIDA MORTGAGE LENDER LICENSE - LICENSE # MLD1287. GEORGIA MORTGAGE LENDER LICENSE/REGISTRATION - LICENSE # 48090 (DBA MBOC HOME LOANS). HAWAII MORTGAGE LOAN ORIGINATOR COMPANY LICENSE - LICENSE # HI-38232 (DBA MBOC HOME LOANS). IDAHO MORTGAGE BROKER/LENDER LICENSE - LICENSE # MBL-2080038232. ILLINOIS RESIDENTIAL MORTGAGE LICENSE - LICENSE # MB.6761396. MARYLAND MORTGAGE LENDER LICENSE - LICENSE # 21870. MICHIGAN 1ST MORTGAGE BROKER/LENDER LICENSE - LICENSE # FL0022526. NEW JERSEY RESIDENTIAL MORTGAGE LENDER LICENSE - REGULATED BY THE DEPARTMENT OF BANKING & INSURANCE. NORTH CAROLINA MORTGAGE LENDER LICENSE - LICENSE # L-183446. OHIO RESIDENTIAL MORTGAGE LENDING ACT CERTIFICATE OF REGISTRATION - LICENSE # RM.804374.000. OREGON MORTGAGE LENDING LICENSE - LICENSE # ML-5804. PENNSYLVANIA MORTGAGE LENDER LICENSE - LICENSE # 71003. SOUTH CAROLINA-BFI MORTGAGE LENDER / SERVICER LICENSE - LICENSE # MLS - 38232, MLS - 38232 OTN #1 (DBA MBOC HOME LOANS). TENNESSEE MORTGAGE LICENSE - LICENSE # 178934. TEXAS - SML MORTGAGE BANKER REGISTRATION - REGULATED BY THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING. UTAH MORTGAGE ENTITY LICENSE - LICENSE # 10877496, 10826912, 10827018. VIRGINIA LENDER LICENSE - LICENSE # MC-6638. WASHINGTON CONSUMER LOAN COMPANY LICENSE - LICENSE # CL-38232. WYOMING MORTGAGE LENDER/BROKER LICENSE – LICENSE # 3912. NMLS CONSUMER ACCESS SITE NEITHER MBANC NOR MORTGAGE BANK OF CALIFORNIA IS A CHARTERED BANK OR TRUST COMPANY, OR DEPOSITORY INSTITUTION. THEY ARE NOT AUTHORIZED TO ACCEPT DEPOSITS OR TRUST ACCOUNTS AND ARE NOT LICENSED OR REGULATED BY ANY STATE OR FEDERAL BANKING AUTHORITY.


APR of 6.627% BASED ON AN INVESTMENT PROPERTY CASH OUT 60% LTV WITH A FICO OF 688 ON A POSITIVE DEBT SERVICE TRANSACTION WITH 1% ORIGINATION FEE WITH A LOAN AMOUNT OF 177K APR OF 7.757% BASED ON A PRIMARY PROPERTY CASH OUT AT 55% LTV WITH A FICO OF 652 ON A 24 MO BUSINESS BANK STATEMENT TRANSACTION WITH A $9000 ORIGINATION FEE WITH A LOAN AMOUNT OF 605K APR OF 7.275% BASED ON AN INVESTMENT PROPERTY PURCHASE AT 75% LTV WITH A FICO OF 762 ON A NEGATIVE DEBT SERVICE TRANSACTION WITH 1.25% ORIGINATION FEE WITH A LOAN AMOUNT OF 1,269,750 APR OF 5.298% BASED ON A PRIMARY PROPERTY PURCHASE AT 80% LTV WITH A FICO OF 773 ON A 12 MO BANK STATEMENT TRANSACTION WITH A 2% ORIGINATION FEE WITH A LOAN AMOUNT OF 184K THE ABOVE INFORMATION IS BASED ON SPECIFIC SCENARIONS. RATES AND FEES ARE SUBJECT TO CHANGE AND BORROWERS MUST MEET GUIDELINE CRITERIA TO QUALIFY. - HETER ISKA