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Updated over 5 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • Specialist
  • from San Antonio, TX
  • Member since Aug 23, 2012
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Specialist
  • from San Antonio, TX
  • Member since Aug 23, 2012
Connect
Account Closed
  • Specialist
  • San Antonio, TX
351
Votes |
865
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Private Lending & Conventional Mortgage Advice

No doc loans with great credit and down payments

Account Closed
  • Specialist
  • San Antonio, TX
Posted

If a person had the credit and down payments could they buy properties with no doc loans? If so what kind of down payments and could it be done thru a LLC?

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Tim Johnson's profile image
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Tim Johnson
  • Lender
  • from Grand Rapids, MI
  • Member since Jun 29, 2018
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Tim Johnson's profile image
Tim Johnson's profile image
Tim Johnson
  • Lender
  • from Grand Rapids, MI
  • Member since Jun 29, 2018
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Tim Johnson
  • Lender
  • Grand Rapids, MI
445
Votes |
703
Posts
Tim Johnson
  • Lender
  • Grand Rapids, MI
Replied

@Account Closed A DSCR loan only looks at the asset, its need to cash flow. Its a recourse loan, and they will lend down to a personal credit score of 580. They don't look at your debt to income. They don't care if you show a loss on your tax return they just look at debt service coverage on the assets in question.

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