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DSCR

  • Loan Product: Various

  • Allowed states: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

  • New Investors welcome

  • No seasoning 🧂 cash-out refinancing

  • Financing of lender fees available 

  • Minimum FICO 620

  • Up to 80% - 85% LTV

  • 40- & 30-year fixed, 5/6 & 7/6 ARM terms, Interest Only Terms

  • DSCR ratio no minimum

  • Eligible for US Citizens, Non-Permanent Resident aliens, ITIN, and Foreign Nationals

  • SFR, PUD, 1-4 Units allowed. (5+ unit financing also available) 

  • Condotels allowed

  • Manufactured homes allowed

  • Non warrantable condos allowed

  • Multi unit properties allowed

  • Mixed use allowed

  • Rural allowed

  • Loan Product: Mini

  • 30-Year Fixed 

  • Purchase, rate & term refinance, and cash-out refinances 

  • Cash-out proceeds are limited to $500,000 and cannot be used as reserves 

  • Max loan amount = $2,000,000

  • No minimum loan amount

  • Second appraisal required for loan amounts greater than $1,500,000

  • Minimum FICO = 620

  • Max LTV = 80%

  • 10% LTV reduction for unleased properties 

  • No minimum DSCR 

  • Minimum 6 months of reserves required 

  • Pricing may be affected when using less than 12 months of reserves 

  • Up to 20 financed properties allowed 

  • Maximum property size = 20 acres 

  • Prepayment by state as permissible by law 

  • Prepayment penalties: 3-year, 2 year and 1 year 

  • No appraisal waivers allowed 

  • First-time homebuyers not permitted 

  • Manufactured homes not permitted

  • Temporary rate buydowns not available

  • Not permitted in West Virginia or for Texas 50(a)(6)

  • Mortgage payment history: one 30-day late allowed in last 12 months

  • CLOSING IN AN LLC

  • Closing with an LLC/Partnership/Corporation vested on title is acceptable. 

  • The following documents are required when vesting in an LLC/Partnership/Corporation:

  • Articles of Incorporation or Articles of Organization

  • Operating Agreement, Corporate Resolution, or other equivalent documentation to verify ownership/authorization

  • Tax Identification Number - EIN (tax returns are NOT acceptable) 

  • Fully executed Certification Regarding Beneficial Owners of Legal Entity Customers

  • Primary borrower on the loan is required to be entered in Section D

  • Valid ID for any non-borrowing LLC owners

  • There is no minimum percentage of ownership required, but the primary borrower on the loan must have the authority to sign on behalf of the business entity. 

  • Refinances – at least one member of the business entity on the existing mortgage must also be a current member of the business entity on the new transaction

  • Layered entities are not permitted

  • Layers include trusts and additional business entities

IDa422-P108-y

  • Loan Product: Plus

  • 30-Year Fixed 

  • Purchase, rate & term refinance, and cash-out refinances 

  • Cash-out proceeds up to $500,000 for loans over 60% LTV

  • No cash-out cap when LTV is less than or equal to 60%  

  • Cash-out proceeds eligible to be used as reserves 

  • Non-Permanent Resident Aliens are ineligible for cash-out refinance

  • Max loan amount = $2,000,000

  • Minimum loan amount = $75,000

  • Second appraisal required for loan amounts greater than $1,500,000

  • Minimum FICO = 660

  • Max LTV = 80%

  • 10% LTV reduction for unleased property refinance

  • 5% LTV reduction in declining markets

  • No minimum DSCR

  • Minimum 3 months of reserves required

  • Up to 20 financed properties allowed 

  • Maximum property size = 20 acres 

  • Rural properties ineligible

  • First-time investor:

  • Minimum FICO = 700

  • Minimum DSCR = 1.00

  • Short term rental:

  • Max LTV = 70%

  • Minimum DSCR = 1.00

  • Prepayment by state as permissible by law 

  • Prepayment penalties: 3-year, 2 year and 1 year 

  • No appraisal waivers allowed 

  • First-time homebuyers not permitted 

  • Manufactured homes not permitted

  • Rural properties not permitted 

  • Temporary rate buydowns not available

  • Not permitted in West Virginia or for Texas 50(a)(6)

  • Mortgage payment history: one 30-day late allowed in last 12 months

  • CLOSING IN AN LLC

  • Closing with an LLC/Partnership/Corporation vested on title is eligible. 

  • The purpose of the business entity is required to be for the ownership and management of real estate. 

  • The following documents are required when vesting in an LLC/Partnership/Corporation:

  • Articles of Incorporation or Articles of Organization 

  • Operating Agreement

  • Tax Identification Number - EIN (tax returns are NOT acceptable) 

  • Certificate of Good Standing

  • Fully executed Certification Regarding Beneficial Owners of Legal Entity Customers

  • Primary borrower on the loan is required to be entered in Section D

  • All business entity owners with at least 25% ownership (max of 4) must be borrowers on the transaction. 

  • The borrower signing on behalf of the business entity must have at least 25% ownership and must have the authority to sign on behalf of the business entity

  • If there are more than four (4) business entity owners, the loan is not eligible

  • Refinances – at least one member of the business entity on the existing mortgage must also be a current member of the business entity on the new transaction

  • Layered entities are not permitted

  • Layers include trusts and additional business entities

IDa422-P108-o

  • Loan Product: SE

  • 30-Year Fixed

  • Purchase, rate & term refinance, and cash-out refinances 

  • Cash-out proceeds are limited to $500,000 and can be used as reserves

  • Max loan amount = $2,000,000

  • Minimum loan amount = $50,000

  • Minimum FICO = 660

  • Max LTV = 80%

  • Minimum DSCR = 1.00

  • Minimum 3 months of reserves required 

  • Maximum property size = 10 acres 

  • Agricultural zoning ineligible

  • Prepayment by state as permissible by law 

  • Prepayment penalties: 3-year, 2 year and 1 year 

  • No appraisal waivers allowed 

  • First-time homebuyers not permitted 

  • Manufactured homes not permitted

  • Temporary rate buydowns not available

  • Not permitted in West Virginia or for Texas 50(a)(6)

  • Mortgage payment history: one 30-day late allowed in last 12 months

  •  

  • CLOSING IN AN LLC

  • Closing with an LLC/Partnership/Corporation vested on title is eligible. 

  • The following documents are required when vesting in an LLC/Partnership/Corporation:

  • Articles of Incorporation or Articles of Organization

  • Operating Agreement or Corporate Resolution

  • If the business has multiple members, both a Corporate Resolutionand the Operating Agreement must be provided

  • The Operating Agreement is only acceptable as a standalone document for single-member entities

  • Tax Identification Number - EIN (tax returns are NOT acceptable) 

  • Fully executed Certification Regarding Beneficial Owners of Legal Entity Customers

  • Primary borrower on the loan is required to be entered in Section D

  • Valid ID for any non-borrowing LLC owners

  • NOTE: If the borrower wishes to hold vesting in an LLC, they will be unable to utilize a Power of Attorney

  • The primary borrower must be a manager or majority owner (25% or greater) of the business entity.

  • The primary borrower will be the member who is designated to sign on behalf of the business entity on the closing package

  • Refinances – at least one member of the business entity on the existing mortgage must also be a current member of the business entity on the new transaction

  • Layered entities are not permitted

  • Layers include trusts and additional business entities

IDa422-P108-p

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