DSCR Lenders in the US

[Austin Bouchard]

Looking for the best lenders that will lend based on an assets rental ability (DSCR - no income verification). Anything with rates below 4.5% currently? Would like to find long-term am (I.e. 30 yr am, fixed rate, up to 4.75% interest, with say a 75-80% LTV). Need to lend on properties in Missouri. Need terms for both SFR and Multi. Does such a loan exist?

[James Carlson]

@Austin Bouchard

We've had clients work with a DSCR lender to buy short-term rentals and Airbnb properties in Colorado. I was just talking to Visio Lending about this last month. I think their rates are closer to 4.75-4.85 and that's paying a point on top of the origination fee.

But still, historically speaking, 4.75 ain't bad, and if it means the difference between getting into a property and not, then it can definitely make sense. (It definitely makes sense with what we do, working mostly with clients who want a second home in Colorado or a vacation rental/Airbnb investment where the revenue numbers can look really good and an extra $150/mo in mortgage doesn't matter as much.) 

Good luck.