Expand the size of your real estate portfolio with a DSCR loan
The perfect solution for a new or experienced real estate investor. No personal income needed to qualify. Finance up to 24 units and yes, you can close in an LLC.
Why a DSCR loan?
Always wanted to increase the size of your real estate holdings but getting a new mortgage became more and more difficult?
This is exactly what the DSCR loan is for.
It allows you to obtain financing for cash flowing investment properties without all the hassle of getting a regular loan.
There is no need for personal income documentation from you such as W2s, paystubs or tax returns!
See how easy that could be?
But really, what is a DSCR loan?
DSCR stands for Debt Service Coverage Ratio. It’s a popular metric used in business lending and commercial real estate and now recently, it’s making it’s way into residential real estate.
In the past, for many people wanting to increase the size of their real estate portfolio, the only way to do so was through a conventional mortgage. The problem is that traditional financing limits borrowers as they always have to produce personal income.
Meanwhile, with a DSCR loan, the lender puts more emphasis on how the property will cash flow, and not on the borrower’s income.
This way, investors are now able to scale up their holdings a lot faster and definitely with less headaches of dealing with a conventional mortgage.
Fast Closings
We close on our DSCR loans in as little as 14 days.
Personalized Service
Work one-on-one with an experienced Loan Officer who will guide you every step of the way. You are not just a number when you work with us.
Confidence that you will close on your home
We pre-approve you at the beginning and do the majority of the legwork upfront so that you are confident that your financing will not be an issue when you are under contract.
Lower Rates Means Better Cash Flow
As Mortgage Brokers, one of our jobs is to fetch the best rate available in the market for your new home. In a way, we are your personal loan shoppers!
Why partner with Andes Mortgage on Your DSCR loan?
This is what you'll need to qualify for a DSCR loan with us
A middle credit score of at least 575. We look at all 3 credit bureaus and qualify you on the one that falls in the middle
At least 12 months of history paying rent or a mortgage or have ownership in a primary home
A minimum 20% down payment (this amount can change depending on the borrower’s credit scores, property type, and experience)
Short-term rental income such as a AirBnB/VRBO is OK
6 months of reserves are required (enough to cover 6 months of mortgage, property taxes and insurance payments)
