When am I a seasoned investor for Dscr

[Miles Matias]

I want to know the seasoning period for a dscr for me not to be considered a new or first time investor. I close on the 24th but would like to buy my next property asap. I really don’t want to wait a year and hope I can get a dscr sooner looked at as a seasoned investor. I got a duplex 120k

[Erik Estrada]

Quote from @Miles Matias:

I want to know the seasoning period for a dscr for me not to be considered a new or first time investor. I close on the 24th but would like to buy my next property asap. I really don’t want to wait a year and hope I can get a dscr sooner looked at as a seasoned investor. I got a duplex 120k

 Hello Miles, 

For the experience requirement most lenders would like to see that you have held the property, either primary or investment for at least 12 months. 

If you would like to expedite it, there are lenders that are okay without you being experienced yet. 

[John O'Leary]

Like @Erik Estrada said, you need to show that you either own a primary residence, or another investment property for 12 months. The cash out seasoning for most lenders is 6 months, and base rates are quoted on an X & Y axis using credit and LTV not experience. Hope this helps.

[John O'Leary]

Like @Erik Estrada said, you need to show that you either own a primary residence, or another investment property for 12 months. The cash out seasoning for most lenders is 6 months, and base rates are quoted on an X & Y axis using credit and LTV not experience. Hope this helps.

[Devin Peterson]

Hi Miles,

There are plenty of lenders out there that will provide competitive DSCR purchase products even for first timers. Most important is just owning a primary residence.

[Stacy Raskin]

There are lenders that will do DSCR loans without owning your primary home or an investment property.

[Brian Valdivia]

Quote from @Miles Matias:

I want to know the seasoning period for a dscr for me not to be considered a new or first time investor. I close on the 24th but would like to buy my next property asap. I really don’t want to wait a year and hope I can get a dscr sooner looked at as a seasoned investor. I got a duplex 120k

 Miles,

In my experience with Beltway Lending, there are two options (listed below) and they do not account for your personal experience.

-30 Days: Rate/term refinance. This means that we are just paying off the existing debt on the property and going into a long term DSCR loan WITHOUT taking any cash out of the property

-90 days: Cash out refinance based off of the appraisal value

[Dylan M. Davis]

Seasoning relates to how long the property has been owned and managed. If you'd like to refinance a value-add project, typically lenders look for 3-6 months seasoning. 

[Jack Tulloch]

Miles - this will be lender dependent. Some lenders require you to own primary + investment, some lenders only require primary, some lenders don't require you to own primary at all. You will need to speak to a few to see what their guidelines are.