No Income Mortgages? Understanding DSCR Lending vs Conventional Financing!

[Bryan Maddex]

Welcome to 2025!

I had the pleasure of being on Chad Carson's Podcast/Youtube channel and we break down how to purchase investment properties with and without income!

Here is a shortcut to the Youtube Video:
http://chadcarson.bellomortgage.com/

In this video, we discuss the main differences between conventional financing (Fannie Mae / Freddie Mac) and Debt Service Coverage Ratio (DSCR) loans.

This was unscripted! Chad hits me rapid fire with a few scenarios and we break down some of the different loan options.

If you are looking to purchase a home and do not have income, DSCR loans can help you! Feel free to schedule an appointment with me at http://calendar.bellomortgage.com/bryan or call/text me at 704-246-3833 if you have an active deal or want to discuss a cash out refinancing.

Here are some things that you can do with a DSCR Loan that you maybe didn't know:
80% Cash Out Refinance with No Seasoning? Yep.
Can I purchase a 2-4 Unit property with only 20% down? Yep.
Cash Out Refinance on a Manufactured Home? Yep.
What if it is Rural? Probably Yep.
DSCR Loan on a PadSplit / CoLiving / SRO (Single Room Occupancy)? Yep.
Can you help me purchase a short term rental using AirDNA for income? Yep.
What if I am getting much higher rent on my rental than a 1007 (market rent analysis from appraiser)? No problem!
What if I am a new investor and do not own any other investment properties? No Problem!
What if I do not own a primary residence either? Little harder to place, but I got you covered there as well!
What if my credit is 680, will my rate be crazy high? Nope! I have a lender that prices 680-720 credit scores very well!
What if I have a 600 credit score? We need to work on finding a "credit partner" that owns at least 20% of your LLC and then we can talk!
What if I do not have 15% down in cash? We need to work on finding an Asset Partner for you!
What if I am getting Gift Funds as Down Payment? Not a problem with a number of lenders!
What if I have a very large deposit right before closing? Not a problem with a number of lenders!
Waht if I do not want this mortgage to show up on my credit? No problem!
What if I am buying a CondoTel? Easy!
What about a non-warrantable Condo? Depending on why it is non-warrantable, I got you covered.
What about a Mixed Use Property? Yep.
What about a Vacant Property? No problem!
What if I have an ITIN (undocumented non citizen)? I have at least 5 lenders to help you!
Do you do purchases, refinances, and cash out refinances? YES!
What if I would be better off doing a Fannie/Freddie mortgage? We got you for all loan types!

What if I want to shop 5 different lenders?
I am so glad you asked this question! I am a Mortgage Broker and work with over 220+ lenders! I use 3 different systems that can shop about 80 to 90 lenders in just a few minutes. I am not paid any differently when I use different lenders so my job is to help us find the perfect lender for your situation. Sometimes it is best for you to pay my broker commission. Sometimes it is best for the lender to pay my broker commission. We will evaluate your loan size, income type, credit score, market conditions, talk about how long of a prepayment penalty you should have or not have, and help you tailor build the best loan for your situation.

I was the top producing Loan Officer at my company in December (thank you to all Upstate Creia members that allowed my team to help you!) and will break my companies single closing record this month! I work with an amazing team and we can get some DSCR loans closed in as little as 3-5 days (my record is 4 business days to close a DSCR loan). The average DSCR loan will take around 3 weeks plus or minus 1/2 a week.

Jump on my calendar and lets talk about your cash out refinance or purchase!

Bryan Maddex
NMLS 511837
Bello Mortgage powered by Coast 2 Coast Mortgage
704-246-3833
bryan@...
http://www.bellomortgage.com/
http://calendar.bellomortgage.com/bryan

#dscr #cashoutrefi #refinance #brrrr #hardmoney #purchasemoney #investmentproperty