Anyone have experience using DSCR loan?

[Michael Mastantuono]

Hello, has any used a debt service coverage ratio loan? Makes sense to me to get the loan based on the value of the deal. Plus, since I don't currently have a full time job, getting qualified for a loan isn't going to happen. Also any referrals for companies you have used for this type of lending? Thanks.

[Andrew Postell]

@Michael Mastantuono yes, they are a great loan type.  Sometimes they might be called a "commercial" loan, sometimes they might be called a "portfolio" loan....whatever they call them they are good loans for people who need a different type of loan than Fannie/Freddie (for whatever reason).  Now, there are some differences between lenders. I will say that you should be able to find a 30 year, fixed rate loan of this nature.  I'm saying this because sometimes they are not that structure.  And maybe a different structure is ok too....but just know that a 30 year, fixed does exist.  If you need some tips on how to find good lenders then read this post I wrote for Bigger Pockets HERE.  Thanks for posting!