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Displaying items by tag: dscr loan

Use Potential Rental Income to Qualify for a Loan

potential rental income for mortgageYes, we can help you get a rental income mortgage for rental property.

A rental income mortgage based on potential rental income for mortgage deals are available. We help you use potential rental income to help you get approved for an investment property without using your debt to income ratio from your W2. You don't need to worry about qualifying income to get into the rental property cash flow business.

This is not for a primary residence, the subject property will be considered commercial property owned through our no ratio DSCR loan (debt to income ratio). As a hard money lender, we have options with loan products that others just can't offer.

How does future rental income to qualify work?

Future rental income represents the total value of rent income for an apartment building or single property rental home at competitive market rates. This means the property does not need to be occupied with renters at the time of purchase.

When considering rental property, as mortgage lenders we consider the future rental income of the investment properties. The predicted rental income is calculated as the monthly gross income, yes, this is how we have the rental income calculated. Future rental income and projected rental income instead of the actual rental real estate income.

For more information on how to get started with a rental property loan, please contact us.  888-375-7977

Published in Real Estate Investors

DSCR LOAN - DSCR LOANS

DSCR Loan VS No Ratio DSCR Loans

DSCR Loan - What are DSCR loans?

The DSCR loan gives the borrower DSCR loans purely for the cash flows generated by the investment and no personal income. DSCR loans are available for the financing of residential or commercial property.

We Provide a No DSCR Ratio - Fast and Easy Loans for Vacation Rentals

If you are looking for a vacation rental, we provide a No DSCR Ratio -Fast and Easy Loans. This loan is perfect for those who want to avoid the hassle of dealing with a dscr loan. With a No DSCR Ratio -Fast and Easy Loan, you can get the financing you need quickly and easily.

How Does a No DSCR Ratio Loan Differ from Traditional Loans?

Traditional loans focus on your personal income instead of the rental income of the monthly rent, the monthly payment debt obligations to purchase loans for those mortgage brokers are based on the borrower's ability to prove enough cash flow from personal finance to cover the debt. We have an entire section on DSCR No Ratio Loans

Published in Landlord’s Corner

What to Prepare Before Shop

Stated Income Lenders - Qualify with Potential Rental Income

If you aren’t already aware, Dodd-Frank changed a lot of rules around mortgages when it went into effect in July 2010. The purpose was to stop predatory lending practices that led to sub-prime mortgages fueling toxic mortgage-backed securities. Stated income loans were mentioned alongside mortgage-backed securities. That caused a lot of confusion.

The idea of simply stating your income and being taken at your word was an honor system that wasn’t exactly honored across the board. It’s understandable why these loans weren’t meant for the average consumer. But there’s a reason stated income loans existed in the first place.

Published in Stated Investor

DSCR LOANS
No ratio DSCR and DSCR based loans offer different advantages to investors, depending on their status and the type of property they are acquiring.

DSCR stands for Debt Service Coverage Ratio, which is a fancy way of saying, "is there enough cash flow from the monthly rent to cover the mortgage payment, insurance, and taxes?"

What is a DSCR Loan?

When you use a DSCR loan product, you are choosing a loan driven by the ratio of the monthly rent to the mortgage payment, taxes, and insurance. This ratio will drive the size of the loan and the pricing.

What is a No DSCR Loan?

With a No DSCR loan, the same ratio used in a DSCR loan is considered, but it's not the primary consideration for the lender when it comes to the size of the loan and the price. These are asset-based loans, based on the value of the property.

For example, with a No DSCR loan, you will get up to 70% of the value based on the appraisal with a rate falling within the lender's range. Pricing incentives may be given for good credit scores, loan-to-value, zip code, loan size, term and leased vs vacant.

Published in Blanket Loan Mortgages

Rental Home Financing
9465 Counselors Way
Suite #200,
Indianapolis, IN 46240

 

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CALL TODAY: 888-375-7977

About Rental Home Financing:

Rental Home Financing, as the best mortgage lenders we originate rental home loan products and cash out refinance investment property loans as the best investment property refinance lenders. Commercial blanket loans are available with a commercial purpose to suit your needs.

Also, as DSCR loan specialists, we are currently authorized to make such loans in most all areas of the United States. Specific circumstances will determine whether we have the ability approve/close portfolio rental home loans in your state(s). When you are ready to get a mortgage for rental property, we are ready to serve you.

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