Question about Loans

[Joan Garcia Hernandez]

This may be a stupid question, but are there ways to get a loan without a job or proof of funds? Looking for different ways to raise capital and understand partnerships a little better. 

[Dennis Muno]

DSCRs would be where it is man. DSCR loans allow you to qualify for a loan based on how much the property would make vs the amount of PITI(loan principal, interest, taxes, insurance) every month.

You qualify for DSCRs based on your DSCR ratio.

DSCR ratio= monthly rent/monthly PITI. If rent=$1500/mo and PITI=$1000/mo, the DSCR ratio would be $1500/$1000=1.5. Lenders will usually lend to a DSCR 1 and above. However, you will need to at least have a lease contract signed or in the process of when you do usually.Some will lend based on how much the median rent is in the area and qualify you based on that