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DSCR CASH-OUT REFINANCE LOANS
Many real estate investors buy fixer uppers and renovate it. After renovation, investors will either flip it and try to sell it for a profit. Other investors want to keep it as a rental by AirBnB’d or long term rental. However, investors want to take cash out refinance to get the renovation cost back with a DSCR Cash-Out Refinance mortgage loan. The issue you run into is most non-qm wholesale mortgage lenders require a one year seasoning requirement on DSCR Cash-Out Refinance mortgage loans. GCA MORTGAGE Group can help Cash-Out Refinance on DSCR loans with six months seasoning of property ownership. Please contact us at contact@gustancho.com
Here’s an informative article about DSCR loans
http://www.gustancho.com/dscr-mortgage-loans
gustancho.com
DSCR Mortgage Loans: Debt Service Cover Ratio
DSCR Mortgage Loans is underwritten based on the cash flow of the property. Borrower does not have to provide income docs or tax returns
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6 Replies
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DSCR loans are non-qm loans. There are 1 to 1 DSCR loans which means the rent covers the principal, interest, tax, and insurance or PITI. GCA MORTGAGE GROUP has no-ratio DSCR loans which means the subject property does not cash flow. We recommend you read this article on non-qm loans published on Gustan Cho Associates. Here is the link to the article on non-qm loans http://www.gustancho.com/non-qm-loans
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Hey Gus!
We should Run a Zoom meeting for the NEXA team & GCA Forums & go over DSCR in Full!
I got a presentation handy for just that product if you are interested.
Let me know ! if you want to run the show on 1-8 units rentals.
I got you handled & have Absolutely all the information you need to fund a successful DSCR.
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There is a great idea. Talk to Felix Nicolas, III my dually functional human CRM and AI who needs a tune up.
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There are also a handful of DSCR lenders who would allow for a debt service coverage of less than 1.
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That is correct. It is called a no-ratio DSCR loan. Rates are higher and loan-to-value is 75% LTV.
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Eric, I know you build condominiums. Without the land cost, how much can you build a multi-family building for. More interested in a two to four unit multi-family.