Qualification for Investment Properties based on LTV, FICO and Cash Flow
No Tax Returns Required. Income qualification is based on the "cash flow" or "debt-service" ratio of monthly rental income to monthly PITI. Debt ratios may exceed 100% with other compensating factors. Call us today for a quick consultation.
An assigned appraiser will determine the fair market rent (FMR) for the subject property. The fair market rent is then compared to the monthly principal and interest, taxes and insurance, and HOA (PITI) and a "debt-service coverage ratio" or DSCR is calculated. Ideally, monthly PITI is less than the monthly fair market rent, but in some cases, Investors may be eligible with PITI in excess of the FMR.
Investors may be eligible for financing with as little as a 20% down payment.
The better the credit score the better the financing terms but investors are eligible for financing with credit scores as low as 660.
In most cases Investors will need to show a minimum of 6 months of PITI reserves in some form of liquid assets.
Limited experience is needed to qualify, but certainly the more history an investor has, the more favorable the loan terms.
With real estate inventory at all-time lows there has never been a better time to invest in "fix and flip" properties. Financing offered up to 90% of acquisition price and renovation costs. Don't miss this opportunity to cash in on this hot market. Limited documentation required. Fast closings.
We realize investors and business owners often have ebbs and flows in their income and often things happen in life without warning. We offer very customized finance solutions for borrowers with almost any circumstance, including previous foreclosures, bankruptcies, and credit delinquencies. Call us today for a quick rate quote.
We understand that self-employed borrowers do all they can do to mitigate exposure to income tax and we have developed multiple products that enable borrowers to qualify for financing based on deposits into their personal and or business accounts. As well, we are currently offering a product that does not require disclosure of income or employment, thereby bypassing the need to calculate a "debt-to-income" (DTI) ratio. Call us today for more information.