DSCR LOAN INFORMATION
Hello all!
Currently looking at my financing options as i currently do not have a W-2 job (self employed) so a conventional loan is out of the question.
Through an agent i know, i discovered the DSCR loan which does not take into account my income.
For those who have experience using this type of loan. What are some things to look for when searching for these types of loans and where did you find the lenders you ended up using?
Thank you for your time in advanced. Looking forward to chatting!
Most Popular Reply
@Danny Jimenez - these are the types of loans I used to grow my portfolio to 150+ units. After 5 SFRs banks wouldn't loan to me anymore because of my debt to income ratio. My SFR investments were viewed a liabilities by underwriting. So unless I was able to figure out how to exponentially grow my income, I wasn't going to be able to get any more conventional loans. That's when I built a network of asset based lenders. It was like rocket fuel for my portfolio. I still work with a handful that I keep going back to deal after deal. There are a lot of these types of lenders out there but there are a lot of incompetent ones, ones that talk a big game and then don't deliver and unfortunately fraudulent ones as well. Message me if you have specific questions.