Mortgage Lender Lake Forest, CA | theLender

dscr

Investor loans
without
the B.s.

What is DSCR loan?

Innovative real-estate investor Loan

The DSCR loan is designed for investment properties. We take the subject property’s DSCR (debt-service-coverage-ratio) to qualify the loan; meaning, your loan is qualified based on the cashflow and market rents of the property. We compare the potential rental income to the proposed mortgage payment and if the rental income is equal to, or greater than, the mortgage payment – the property is qualified for our
DSCR investor loan.

Qualifying Made Easy

Financing rental properties should be simple and straightforward, so we’ve geared our qualification process toward that—simplicity. NONI requires no personal income to qualify, so we won’t need W-2’s, tax returns or paystubs; rather, we use rental analysis. A key benefit of NONI is it allows our clients to hold title in an LLC or corporation. This is highly beneficial to investors and their portfolios, as holding an investment property in an LLC offers tax benefits as well as reduces exposure from a liability standpoint.

the

products

DSCR investor loan

Whether you’re purchasing your next vacation rental or refinancing your investment property portfolio we have you covered with our DSCR investor loan. 

highlights

ALLOWS

Title can be held in an LLC, S-corp, C-corp or trust.

properties

No limit on number of financed properties (4+ requires board review).

LENDING

Consumer-direct

TYPES

Single-family, condos, 2-4 units, townhomes.

termS

30 YR Fixed, 40 YR Fixed with I/O, & 7/6 ARM.    *Interest-only options available.

UNDERWRITING

In-house, STR and LTR allowed, no tax returns, W-2’s or paystubs.

LOAN

Purchase, R/T refinance or cash-out refinance.

noni purchase & r/t

80% LTV Purchase (minimum FICO 680)
75% LTV Rate Term Refi (minimum FICO 660)

noni cash-out

75% LTV Cash-Out Refi (minimum FICO 660)

Harness the power of the DSCR loan with DSCRplus. For borrowers with FICO ≥ 700 and LTV ≤ 65%.

near DSCR

The nearDSCR was created to help investors when the rents don’t quite cover the mortgage payment. At theLender; we pride ourselves on leveraging our experience in situations such as these, offering us an opportunity to design creative financing solutions for our clients.

coverage

Allows debt-service coverage ratio of < 1.00.

properties

Non-warrantable condos allowed.

rESERVES

Cash-out can be used for reserves.

LOAN

Amounts up to $3mm.

fico

Minimum FICO 620.

LTV

LTV up to 75% with FICO 680 on purchases and R/T refinances.

FUNDS

Gift funds allowed.

how we

qualify the loan

Here’s a glimpse at how we qualify your loan – take your gross rents, based off the lesser of market rents or lease agreement, and divide by the PITIA (full amortization) or ITIA (interest only). For example:

interest only

If your debt-service-coverage-ratio is ≥ 1.00 you’ve got a DSCR:

$1500

gross rents

/

$1500

Mortgage Payment

=

1.00

DSCR

full amortization

if your debt-service-coverage-ratio is < 1.00
we qualify the loan at a different price
(nearDSCR):

$1500

gross rents

/

$2000

Mortgage Payment

=

0.75

nearDSCR

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DSCR

financing

short-term rentalS

Short-term rentals, also referred to as vacation rentals, are any home that is rented to guests who are interested in short-term stays; anywhere between one night to one month. STR’s provide ample advantages to real estate investors, such as earning potential and flexibility. Owners can decide precisely when their property will be made available to guests, whether on a nightly, weekly or monthly basis

str

long-term rentalS

Long-term rentals are properties that are purchased and rented out for long-term leases. An LTR property can range from a single-family home, townhouse, multi-family home, apartment or condo and is associated with providing tenants accommodation for an extended period; generally, a minimum duration of six months or greater.

ltr

multi-family RENTALS

A multi-family property, or multi-dwelling unit (MDU), is a residential building with more than one rentable space. The most common examples are duplexes, triplexes, and quadplexes. Multi-family investments allow for the acquirement of multiple properties within one building and are the epitome of scalability. They are the perfect wealth-building tool for those looking to expand their real estate investment portfolio.

mfr