When it comes to purchasing investment properties you have a number of different loan options
Conventional loan
- Minimum 620 Credit
- 15-25% down (2-4 unit min 25% down)
- Full doc requires income, credit, asset check
- Limit 10 financed properties
- Min loan amount 50k
DSCR
- Minimum 640 Credit
- 20% down
- 1-4 units
- Limited doc requires credit score and asset check
- Approval based on rental income vs mortgage payment
- Min loan amount 100k
Commercial Loans
- Perfect for 5+ units
- Multiple properties can be covered under one loan
- Can finance non residential properties
Other Loans
- Foreign National DSCR loans
- Asset utilization
- 2nd mortgages
- Cross collaterlization
- Fix and Flips
- Bank statement loans
When you’re ready to see your options schedule a call with Scott!