Are you new to Real Estate investing or a seasoned Investor having difficulty qualifying for a mortgage loan due to your debt-to-income ratio being too high? Introducing the DSCR loan program where No INCOME or EMPLOYMENT Documentation is needed!
DOCUMENTS REQUESTED:
1) Driver's License
2) 2 Months Bank Statements dated in the last 60 days (Proof of Down Payment, Reserves, and Closing Costs 2% of Loan Amount)
3) Entity LLC Formation, Operating Agreement (if holding Title in an LLC)
ADDITIONAL DOCS FOR REFINANCES:
4) Recent Mortgage Statement, Homeowners Insurance, and HOA
5) Most Recent 2 months canceled Rent Checks or Rent Schedule (1007)
A Brokers Price Opinion will be ordered along with 1007, which provides recent market rent in the area if a lease is not supported.
How to determine your Debt Serviced. Take the Market Rent and DIVIDE that by .75%. Your Mortgage payment should be within this amount. The scheduled ITI (Interest, Taxes, Insurance & HOA) payments.
** Debt Service Ratio can be as low as .75% with a specific bank
** First Time Homebuyers & Investors are ALLOWED
** Min Loan Size $75K
** Max Loan Amounts $2-3M
** Max LTV for purchase and refinances are 80%
** Cash Out Proceeds can be used as RESERVES
Are you or someone you know needing help with alternative financing solutions? Thank you in advance for helping Share and like this post!
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𝐊𝐚𝐧𝐝𝐲 𝐊𝐚𝐭𝐳 | Loan Consultant | nmls#817938
🏦 214-514-0472 | Kandy.Katz@AbsoluteML.com
Absolute Mortgage & Lending NMLS Branch #1910591
Licensed in: AL, AZ, AR, CA, CO, FL, GA, IL, LA, MI, MN, MO, MS, NV, NJ, NC, OH, OK, PA, SC, TN, TX, VA, and WA. Pending: HI, NE, and UT
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LET'S CONNECT to discuss your home buying strategy:
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