STR loans for people with low credit scores

[Andrea Galitz]

Hey all. I have a client in IL looking into purchasing their 1st STR property in the Gulf Shores area. The problem is that my client's credit is in the low 600's. Does anyone know of any loan programs that would work with this kind of credit score?

[Matthew Crivelli]

DSCR loans will not work if credit is below 660, especially if the property is a STR. I would recommend that your client finds a partner who can bring a better score to the table because it will be near impossible to finance a STR with that low of a score in the current lending environment. (even with private money) @Andrea Galitz