Qualifying for Mortgages Using DSCR

[John E Ceisel]

Hello BP!

I left my corporate job last year to be in real estate full time.  This new life is wonderful!  That said, I would like to refinance a condo, finance new acquisitions, etc. (beyond my existing portfolio) in the near future.

Are 30 year fixed cashout refi's out of the picture for someone without 2 years of self employment income history?  

I have heard that some banks will lend based off of DSCR (in lieu of debt to income). That said, I am curious to learn what the experience has been in the BP community with qualifying using DSCR. Are there other strategies to finance long term holds if you don't have sufficient income history?

I appreciate any insight you all have!