All Forum Posts by: Jonathan S.

You can purchase a property using a DSCR mortgage or use the delayed financing method to refinance immediately after the purchase. (On a delayed purchase loan, the loan would be based on the purchase price and not as is value)

If you are looking at a refinance where you want to base the loan on the as is value most DSCR lenders have a 3 to 6 month seasoning period.

I know this thread has received it's fair share of great answers. As for REO, the answer like most real estate investing questions is, ‘it depends.'

For example we are able to do deals without previous real estate owned, but we just added that feature within the last 3 weeks. 

I’d be more than happy to talk to you on your specific deals as it does vary from state to state.

@Matteo Girlando

@Yvonne Gallegos

@Matteo Girlando

We have a DSCR product available to first time investors. What do you need for a Non-QM DSCR loan? (Rental property)

1. Subject property that can cashflow above the minimum debt service coverage ratio. In our case this is 1.1

2. Subject property needs to be located in a non-rural area and must be close to recent comparable sales 

3. Currently you need GOOD CREDIT (or have a partner who does) - 720+ mid-score is ideal

4. The borrower / partner should have assets to show  (25% down payment + closing costs+ reserves)

5. You will likely need an LLC that will be used to hold the subject property. 

If you can check these boxes off you would be able to start buying long term rentals with having owned zero real-estate prior to the first transaction.