DSCR Loan Presentation Docs

[Aaron Antis]

Hi All!  

I could swear I heard something on the biggerpockets podcast talking about DSCR loan presentation documents of some kind. Basically, what I maybe thought I heard was a general outline of some of the documents that would be good to present to DSCR lenders when working to get funding. Does anyone have access to anything they would be willing to share? My potential partner and I are looking at what we'd need to pull together so we can be prepared after we form our partnership and look to buy properties together. Anything would be helpful, even a loose outline on the main items that need to be presented. THANK YOU SO SO SO MUCH!!!

-Aaron Antis

[Erik Estrada]

Quote from @Aaron Antis:

Hi All!  

I could swear I heard something on the biggerpockets podcast talking about DSCR loan presentation documents of some kind. Basically, what I maybe thought I heard was a general outline of some of the documents that would be good to present to DSCR lenders when working to get funding. Does anyone have access to anything they would be willing to share? My potential partner and I are looking at what we'd need to pull together so we can be prepared after we form our partnership and look to buy properties together. Anything would be helpful, even a loose outline on the main items that need to be presented. THANK YOU SO SO SO MUCH!!!

-Aaron Antis

Seeing that you are working with a partner, your best bet is to create an LLC first. From there, Most DSCR lenders will take a look at the market rents for the property (or if leased, the current rents), credit score, property type (1-4 unit only, no mixed-use), ownership history (you cannot be a first time homebuyer), and if you have enough cash to close (typically 25% down, although I am starting to see 20% for purchase).