With a Special Investment Property Mortgage – a DSCR loan, borrowers can qualify for a mortgage based on a property’s rental analysis. No personal income or employment information is required to qualify. Debt service coverage ratio or DSCR is a measurement of a property’s expected cash flow to determine ability to repay a mortgage loan. It is calculated by dividing the borrower’s net operating income by their debt obligations, including the debt payment.

 INVESTOR FLEX FIXED – YELLOW

• 640+ FICO up to 80% LTV
• Loan amounts up to $2M
• Minimum debt service coverage ratio of 0.00
• Eligible on investment purchases, rate/term and cash-out refinances
• Finance up to 20 properties
• Minimum of 6 months’ reserves required
• Pre-payment penalty options: 3/2/1, 2/1, 1/1
• Appraisals from two different appraisers required for loans over $2M
• Eligible to close in an LLC (Limited Liability Company)
• Gift funds allowed per breakdown:
  • 5% gift on LTV under or equal to 80%
  • 10% gift on LTV under 70%

INVESTOR FLEX FIXED – PINK

• 660+ FICO up to 80% LTV
• Loan amounts starting at $50,000 up to $3M
• Minimum debt service coverage ratio of 1.00
• Eligible on investment purchases, rate/term and cash-out refinances
• No limit on the number of financed properties
• Minimum of 3 months’ reserves required
• Pre-payment penalty options: 3/2/1, 2/1, 1/1
• Eligible to close in an LLC (Limited Liability Company)
• Gift funds allowed per breakdown:
  • For LTV over 75%, the borrower must contribute at least 5% of their funds
  • For LTV under or equal to 75%, there is no minimum borrower contribution

INVESTOR FLEX FIXED – ORANGE

• 660+ FICO up to 80% LTV
• Loan amounts starting at $75,000 up to $2M
• Minimum debt service coverage ratio of 0.00
• Eligible on investment purchases, rate/term and cash-out refinances
• Finance up to 20 properties
• Minimum of 3 months’ reserves required
  • Minimum of 6 months’ reserves required for loan amounts greater than $500,000
• Pre-payment penalty options: 3/2/1, 2/1, 1/1
• Eligible to close in an LLC (Limited Liability Company)
• Gift funds allowed per breakdown:
  • For LTV over 75%, the borrower must contribute at least 5% of their funds
  • For LTV under or equal to 75%, there is no minimum borrower contribution

INVESTOR FLEX FIXED – BLUE

• 660+ FICO up to 70% LTV
• Loan amounts starting at $100,000 up to $2M
• Minimum debt service coverage ratio of .80
• Eligible on investment purchases, rate/term and cash-out refinances
• Finance up to 20 properties
• Minimum of 12 months’ reserves required
  • Additional 6 months’ reserves required per financed property
• Pre-payment penalty options: 3/2/1, 2/1, 1/1
• Appraisals from two different appraisers required for loans over $1.5M
• Use of gift funds is not allowed

Have questions? Give us a call! One of our mortgage strategist would be happy to answer all of your questions on Special Investment Property Mortgages