Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
Thomas Gentry
0
Votes |
2
Posts

Financing options - DSCR

Thomas Gentry
Posted

Hello BP community. Long time lurker but now am ready to get in the game. I have a couple of questions about dscr loans. What ive gathered- ratio of 1.2 or higher, 25% down, need around 6 months piti left over in bank, good fico score. Anything else? i know these numbers vary from lender to lender. Is this all that is required? i am ready to get into my first property but dont have a great debt to income ratio and some small early mistakes pulled down my credit, also work 1099 making it difficult to get conventional loan. I will be working on fixing all of that for future purchases but i do not want to wait and if a dscr loan can get me in it would be great. Just an example of what im looking for would be a triplex for 375,000. 25% down. piti around 2300 with gross rent at 4300. so around 94k down and 14k 6 months piti. what range interest rate for a 650 fico score? would this deal be a good to go as far as a potential dscr loan.

Most Popular Reply

User Stats

1,013
Posts
492
Votes
Timothy Hero
  • Lender
  • United States
492
Votes |
1,013
Posts
Timothy Hero
  • Lender
  • United States
Replied

I specialize in this product and you should be able to get 80% LTV if you have a credit score of 720+ and the property cash flows at least 1.1 DSCR.

Loading replies...