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Private Lending & Conventional Mortgage Advice

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Erin Murphy
  • Real Estate Agent
  • Bayonne, NJ
5
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19
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DSCR for first time homebuyer?

Erin Murphy
  • Real Estate Agent
  • Bayonne, NJ
Posted Apr 30 2024, 13:17

I've heard a few lenders say they can't help a first time homebuyer with DSCR.

I’m a first time homebuyer looking to purchase a single family rental property in NJ. I’m self-employed, so most likely won’t be approved conventionally. 

Are there any lenders who allow 20% down DSCR for a first time homebuyer?

If not, do I have any other options at 20% down? 

Thank you!

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