Investor loans that are relatively simple to qualify for and available on higher loan amounts can be hard to find and even harder to close. Not anymore!
Fairway is now offering an investor cashflow DSCR loan that requires no tax returns or personal income disclosure to qualify. This program provides qualified borrowers loan amounts up to $2,000,000!
As home listings have re-emerged so have investors, lots of them in fact. With the increased interest in owning real estate to diversify investing, this simple, competitively priced solution could help establish or expand your real estate investing portfolio.
DSCR Defined
DSCR, short for Debt Service Coverage Ratio, offers a commercial like financing solution to private investors. With a DSCR loan, the expected income from the property is what determines qualifying rather than personal income. In essence, you qualify for the property with the property’s estimated income plus your down payment.
Program highlights:
- Down payment as low as 20%
- 15- and 30-year, fixed-rate mortgages (Fully amortizing and interest-only options are available on the 30-year fixed-rate mortgage.)
- 5/6, 7/6 and 10/6 adjustable-rate mortgages (Fully amortizing and interest-only options are available.)
- Available for investment properties only
- Purchase as well as rate/term and cash-out refinance options available
- Maximum loan-to-value ratio (LTV)* 80%
- Minimum credit score 660
- Property types:
- Single-family residences
- PUDs
- Warrantable condos
Simplify your path to real estate investing with our DSCR loan programs and let your property qualify itself!
Note: Borrower must meet minimum reserve requirements. LLC’s, LP’s, partnerships, and corporations are NOT allowed. Texas 50(a)(6) is not allowed.
