Dscr lenders and brokers

[John Ball]

Hello,

Do dscr lenders make exception for paying cash for my rental? I currently pay cash for my rental home and thus no record. I have enough reserves for high down payment, great credit score. 

[Stacy Raskin]

You don't have to have a loan history depending on the DSCR program but many programs would like to see a history of being a property owner for over a year. There are programs also for renters- for example, people who are renting in let's say CA and buying a non owner occupy investment property in Michigan. Important DSCR underwriting factors are credit so that's good you have a great score, LTV and down payment. Also, the actual or projected market rents to structure the loan. Happy to connect to discuss further.