DSCR Mortgage
Investors, qualify for a mortgage to purchase an investment property without any income or employment verification.
DSCR Loan
Investors, qualify for a mortgage to purchase an investment property without any income or employment verification.
Qualify to purchase an investment property with limited documentation
A DSCR loan, short for debt service coverage ratio, is a a program that allows you to qualify for a mortgage to purchase an investment property without any income or employment verification. Instead, you are qualified based on the rental income that the property produces. In order to qualify, the rental income must cover the full mortgage payment (PITI).
What type of properties are eligible for a DSCR loan?
With a DSCR loan, you can only purchase investment properties. These can be one unit SFRs, condos, townhomes or up to 8 unit multi family properties.
What are the requirements to qualify?
In order to qualify for a DSCR loan, you'll need a minimum credit score of 640 and at least 20% down payment, along with 6 months of reserves.
What are the parameters for this loan program?
These loan programs are offered on default, 30 year fixed terms. However, there are interest only options available for 30 and 40 year terms, if you need to maximize your monthly cash flow. Since these loans are for investment properties, there is a default 3 year prepayment penalty which can be lowered via an additional cost or an add to the interest rate.
Ready to get started?
Complete the loan application below, then schedule a time for us to connect and review your application together.
VirtuaLending | NMLS #2015906
Isaac Sanchez | NMLS #1992428
9267 Haven Ave, 220,
Rancho Cucamonga, CA 91730
(NMLS Lic. #2015906) Is an equal housing lender. This is not a commitment to lend or extend credit. Programs, rates, terms and conditions are subject to change without notice. Terms and conditions apply. All rights reserved. Contact us for details. Consult your accountant about tax deductions. NMLS Consumer Access