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Contact:R.E.I. Investment Capital
Posted in: Detroit Real Estate Services
Debt Service Coverage Ratio Loans
*A debt service coverage ratio loan approval is based on the cash flow of the subject property:
The DSCR measures the ability of the subject properties revenue to pay the mortgage and expenses (in its entirety), your loan approval is based on those figures.
- 30 Year Fixed Rate - Interest Only Available
- Qualification based on property cash flow.
- No personal income, no employment verification needed
- Up to 80% LTV
- Loans amounts up to $1.5 Million, $75k minimum
- No limit on total number of properties
- Purchase and cash out (or rate and term refinance)
- Properties can be in LLC
- Non-warrantable Condo's ok
- Credit score minimum 660
- 1.00x - 1.25x Qualifying ( 1.00% = 100% of the subject property expenses are covered by it's monthly revenue. - 1.25% = 125% of the expenses are covered).
- The DSCR measures the ability of the subject properties revenue to pay the mortgage and expenses (in its entirety), the loan approval is based on these figures.
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