Dscr loan banks/lenders

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Alex BekezaBusiness Member
Lender · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
3y

@Rashidat T Ijadunola You should use the Bigger Pockets "Find a Lender" tool which can connect you with a DSCR lender. It's under the "build your team" tab above.

[email protected]818-606-8823
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  • Alex BekezaBusiness Member
    Lender · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    3y

    @Rashidat T Ijadunola You should use the Bigger Pockets "Find a Lender" tool which can connect you with a DSCR lender. It's under the "build your team" tab above.

    [email protected]818-606-8823
    Investor Property Loan5306 Reviews
    WebsiteView Page
    2Reply
  • Jason WrayPro Member
    Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
    3y

    Rashidat,

    It depends on your goals and what your looking to do and if your planning on using the same bank/lender in the future. Example DSCR is very FICO Score and debt service ratio driven meaning the higher your credit score and higher the Debt ratio the better rates and options. Do you want an ARM product for the lower rate, Do you want an I/O Interest only. Do you need to have a specific prepayment penalty 1,2,3,5 years or None.

    Prepayment penalty allows the bank to hold the loan longer so they offer a lower rate. You also have DSCR Elite where if you put down 25% and have a DSCR ratio of 1.25% or higher you get a much lower rate and great I/O options. There are a lot of good DSCR Non/QM lenders out there but the trick is they usually require you to go through a Bank/Lender/Broker.

    Let me know if you have any specific questions.

    [email protected]727-637-4289
    2Reply
  • Rashidat T Ijadunola
    OP
    Member since 2023 · 3 posts · 1 vote
    3y

    Thanks 

    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    3y
    Quote from @Rashidat T Ijadunola:

    I'm just trying to get into real estate investing. Can you give me the list of banks that accepts dscr loan?


    There are several DSCR lenders. I would recommend speaking with an experienced broker to get to the finish line. Many DSCR lenders have different requirements/guidelines. It's not a one size fits all

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
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  • Caroline Gerardo
    Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
    3y

    Generally not a "bank." Most require large down payment of 20% or more to make the property cash flow. They also have higher FICO requirements. There are about 70 lenders offering this product, a few nationwide, most only in the markets where they are licensed or they "like." 

    Be ready to tell them: how much liquid assets you have, your FICO score, city where you plan, number of units, sales price/valuation. From this they can tell you on the phone if their product is a match or tell you who has what you need.

    1Reply
  • David Hathaway
    Investor · VA MD, NC · Member since 2023 · 35 posts · 17 votes
    3y

    @Rashidat T Ijadunola

    Are you trying to invest in Baltimore, MD or another location? There are a couple lenders we have used that offer DSCR I can send you?

    0Reply
  • Ethan Cramer
    Accountant · NY · Member since 2023 · 13 posts · 2 votes
    3y
    Quote from @Rashidat T Ijadunola:

    I'm just trying to get into real estate investing. Can you give me the list of banks that accepts dscr loan?


    My bank specializes in DSCR loans. NY, NJ, CT, AZ, FL, PA. Let me know if you want to connect.

    0Reply
  • Ozzy SirimsiBusiness Member
    Real Estate Agent · Baltimore, MD · Member since 2016 · 1k+ posts · 782 votes
    3y

    @Brian Valdivia  might help you if you still need it.

    0Reply
  • Logan Lambert
    Lender · Kingsville, MD · Member since 2023 · 103 posts · 35 votes
    2y
    Quote from @Rashidat T Ijadunola:

    I'm just trying to get into real estate investing. Can you give me the list of banks that accepts dscr loan?


     Hey we would love to connect with you.

    0Reply
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