Info on DSCR Loans for first properties

[Chris Leppanen]

Hey there! So we are thinking about DSCR loans to acquire our first investment properties. We do not currently own a home though.. I have heard in some instances that leaders will require you to own a home already to get dscr loans? is this true? Also as far as the speed of getting back to back dscr loans how does that look? is there a waiting period? Is it realistic to get 8-10 dscr loans in a years time span?

[Lyndsay Zwirlein]

Quote from @Chris Leppanen:

Hey there! So we are thinking about DSCR loans to acquire our first investment properties. We do not currently own a home though.. I have heard in some instances that leaders will require you to own a home already to get dscr loans? is this true? Also as far as the speed of getting back to back dscr loans how does that look? is there a waiting period? Is it realistic to get 8-10 dscr loans in a years time span?

Is there a reason you're wanting to do DSCR? I always recommend to clients to try conventional first. Terms are better. There is an investment home loan (conventional). If that's not an option, there are other loan types like a bank statement loan if you're self employed. This allows up to 90% LTV and helps you establish mortgage history like the others have mentioned. Good luck!