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Updated about 2 months ago on . Most recent reply
DSCR Loan Question
Hi,
Does anyone know of any House Hacking friendly DSCR lenders?
Looking for
Most Popular Reply
Patrick Roberts
#2 Private Lending & Conventional Mortgage Advice Contributor
Pro Member
#2 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Charleston, SC
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Patrick Roberts
#2 Private Lending & Conventional Mortgage Advice Contributor
Pro Member
#2 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Charleston, SC
This doesnt really exist. House hacking is a primary residence strategy, meaning the property is owner occupied. DSCR loans by definition cannot be used for owner occupancy because they would have to comply with Dodd-Frank rules regarding Ability to Repay, which is exactly what they remove with the DSCR component. DSCR's are commercial loans and every program I have ever seen prohibits owner occupancy - these are only for properties that are exclusively investment properties.