All Forum Posts by: Kamal Martin

@Kamal Martin Are you looking to purchase a single family or 2-4 unit property? As said above you would not be able to use DSCR for a property you are moving into, BUT if you buy a 2-4 unit property you can use the rent from the non-owner occupied units to offset the mortgage payment. So, not DSCR, but can have the same effect if you buy the right place.

So you're saying go conventional?

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Quote from @Jack Tulloch:

Hey Kamal - DSCR loans are designed for non-owner occupied properties. You will likely need to seek out a different type of loan if you plan on living in the property to any capacity.

I am aware of that. I should have asked if anyone is aware of a lender who will not be concerned if my primary residence is not in my name.

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Quote from @Patrick Roberts:

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.

Well, I should rephrase my question. I have a primary residence, but it isn't in my name. From my research that is a problem. So, are there any DSCR loans that won't check to see if I have a primary residence in my name?

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Hi,

Does anyone know of any House Hacking friendly DSCR lenders?

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Quote from @Griffin Hammell:

Dean I can help you, DM me!

I'd like some info too please

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All Forum Posts by: Kamal Martin

Kamal Martin has started 2 posts and replied 15 times.

Post: DSCR Loan Question

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