Rents to Qualify debt-service coverage ratio (DSCR)

Rents to Qualify debt-service coverage ratio (DSCR)

Rents to Qualify debt-service coverage ratio (DSCR)

Our Investor Cash Flow mortgage program allows clients to qualify based on rental analysis to determine property cash flow. No personal income required to qualify. This saves you from submitting complicated income statements and tax returns.

Overview
  • DSCR as low as 1.00%
  • Arms (Interest only available) and Fixed Products Offered
  • LTV’s up to 75%
  • Loan amounts $200,000 to $1,500,000
  • SFR, Condo’s, 1-4 units
  • 680 minimum credit score
  • Vesting in Corporations & LLC’s allowed
  • Unlimited financed properties
  • Appraisals require forms 216/1007 to be included
How to Calculate Monthly Income
  • Debt Service Coverage Ratio (DSCR) is used to qualify
  • Qualification based on property cash flow (take 100% of the gross yearly rents divided by the PITIx12 (yearly) of the subject property)
  • Rents are derived from the lesser of the rental/lease agreement or the rent survey (Form 1007)
  • Use the note rate or fully indexed rate whichever is higher for qualifying
  • The PITI calculation for interest only loans is based on a 30 year amortization (40 year loan)
  • Do not provide any personal income and no 4506T required
  • No DTI calculation is used – Loans under the DSCR Investor Program are classified as business loans. Appendix Q and ATR requirements do not apply

Be sure to choose DSCR under the doc type drop down in quick price.

Abdi Mohammadian NMLS# 356391

Licensed by The Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. NMLS# 1141
MasonMac Corporate

Mason-McDuffie Mortgage Corporation

Office: (925) 785-7851

12647 Alcosta Blvd
Suite 300
San Ramon, CA 94583

Licensing:

Not a commitment to lend. Rates and terms subject to change without notice. Licensed by the California Department of Financial Protection and Innovation under the California Residential Mortgage Act No. 4130968; AL #22653; AR #32700; AZ #1015403; Colorado regulated by the Division of Real Estate; DE #019623; FL #MLD819; Georgia Residential Mortgage Licensee #20924; ID #MBL-5861; Kansas Licensed Mortgage Company #MC.0025601; KY: #MC701698; MD: #16927; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance;Licensed by the Minnesota DOC #MN-MO-1141; Licensed by the NJ Department of Banking and Insurance; NC: L-152867; NV: #3681; OK: #ML012358; Licensed by the Oregon Division of Financial Regulation #ML-3808; PA: #37008; TN: #112513; Licensed by the Virginia State Corporation Commission #MC-5579, WV: #ML-31523/MB31759. NMLS #1141. www.nmlsconsumeraccess.org