Best DSCR Lender in Texas
Our Debt Service Coverage Ratio (DSCR) loan option, Investor Flex, allows borrowers to qualify for their loan using the market rent of their investment property, rather than their current income to qualify for their loan. There are no paystubs, no tax returns, and no W2’s used on this loan. With a variety of reserves and credit score requirements, we’ll help you narrow down which options are best for you.
We have 4 New DSCR Loan Options for you with our Investor Flex! These are the newest and most advanced on the market.
- 680+ FICO up to 80% LTV
- Loan amounts up to $2M
- Minimum debt service coverage ratio of 0.00
- Eligible on investment purchases, rate/term and cash-out refinances
- Finance up to 20 properties
- Minimum of 6 months’ reserves required
- Pre-payment penalty options: 5, 4, 3, 2, 1
- Appraisals from two different appraisers are required for loans over $1.5M
- 680+ FICO up to 80% LTV
- Loan amounts starting at $150,000 up to $2M
- Minimum debt service coverage ratio of 1.00
- Eligible on investment purchases, rate/term and cash-out refinances
- No limit on the number of financed properties
- Minimum of 3 months’ reserves required
- Pre-payment penalty options: 5, 4, 3, 2, 1
- 680+ FICO up to 80% LTV
- Loan amounts starting at $150,000 up to $2M
- Minimum debt service coverage ratio of 0.00
- Eligible on investment purchases, rate/term and cash-out refinances
- Finance up to 20 properties
- Minimum of 3 months’ reserves required
- Minimum of 6 months’ reserves required for loan amounts greater than $500,000
- Pre-payment penalty options: 5, 4, 3, 2, 1
- Appraisals from two different appraisers are required for loans over $1.5M
- 680+ FICO up to 70% LTV
- Loan amounts starting at $150,000 up to $2M
- Minimum debt service coverage ratio of 1.00
- Eligible on investment purchases, rate/term and cash-out refinances
- Finance up to 4 properties
- Minimum of 12 months’ reserves required
- Additional 6 months’ reserves required per financed property
- Pre-payment penalty options: 5, 4, 3, 2, 1
- Appraisals from two different appraisers are required for loans over $1.5M
How do we calculate the income on a DSCR Loan?
Debt Service Coverage Ratio (DSCR) = Gross Rental Income / Proposed PITIA (Principal, Interest, Taxes Insurance, HOA Dues)
• Tenant Occupied: Use the lower of the (a) executed, current lease agreement or (b) market rent from appraisal (form 1007); OR
• Non-Tenant Occupied: The market rent from the appraisal is used for the income loan approval (form 1007) may be used solely; OR
• Short Term Rental income can be used. The appraisal will perform a “rental analysis” to determine what similar homes have been renting out for. With public information in the local MLS the appraiser can see what homes were leased for in determining the projected rental income of the investment property.
What makes us the Best DSCR Lender in Texas?
– Expert Knowledge
– Same Day Underwriting
– Texas Community Lending
– Technology-Driven Process
– Weekly Email Updates
– Variety of Options – the most aggressive in Texas
If you’re looking for a DSCR Loan in Texas – we look forward to hearing from you! We’d love to assist you on this journey please contact us direct at 281-627-4222 or submit the quick quote form on this page.
