Residential investment loans based on the cash flow of the property
DSCR mortgage allows you to purchase or refinance a rental property without providing your tax returns, W-2s, pay stubs, or other personal and financial documents that are required for a standard mortgage.
How does a DSCR loan work?
DEBT SERVICE COVERAGE RATIO
DSCR stands for Debt Service Coverage Ration. DSCR loans don't require income, employment, or any DTI calculation. This program is designed for seasoned investors looking for a low-documentation program but without the hard money interest rates and terms.
No tax return required
DSCR mortgage allows you to purchase or refinance a rental property without providing your tax returns, W-2s, pay stubs, or other personal and financial documents that are required for a standard mortgage.
Program Highlights
- Min FICO 620
- Up to 85% LTV
- Loan amounts of $150,000 to $4,000,000
- Cash-out proceeds may be used for reserves
- Gift Funds allowed for the down payment and closing costs
- Investment property only
- No Tax return income or employment verification is required
- Borrower must have primary resident
Second Finance, Lc | A Mortgage Broker Company | NMLS #1443191
jOHN w. dODD, lOAN oFFICER| NMLS#317222
4484 S Marsalis Ave. Dallas, Texas 75216
(214) 941-8222/ (888) 745-5289 COPYRIGHT 2023
Office Hours 9:am to 6:pm Monday through Friday
