Investor cash flow mortgage providers servicing Denver/Boulder
I am beginning to do some single-family buy-and-hold investing in the Denver / Boulder area, and want to make sure I can find lenders who can finance them based on their rental income (usually debt coverage ratio) rather than my income (as I might leave my job soon). I have one or two leads, but would love to do some comparison shopping. It has been challenging to know how to search for these types of lenders (who do not need W-2s or tax returns), so any pointers would be appreciated!
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They do exist. I just refinanced one of my lease options in the Seattle area with a national lender. It's owned by my LLC, closed in about 2-3 weeks, and based solely on the cashflow it's bringing in (1.1 DSCR). Fully fixed and amortized for 30 years, ~5% interest rate, but comes with a 3-yr prepayment penalty. The nice thing is that they took consideration of my leased rent, which was 2x higher than market rent. Most lenders I've talked to simply take the lower of actual vs market rents.
I'll PM you the contact so you can add to your comparison. Please also share your research with us once you've compiled all the data!