What are "Rolling Lates" for DSCR Loans?

[Robin Simon]

🤔 What are "Rolling Lates" for DSCR Loans?
➡️ While typically mortgage lates don't "count" unless they are past 30 days late, a small minority of DSCR Lenders will have something called "Rolling Lates" — where if for example, there are three consecutive months in which you pay late enough to incur a late fee, but before the 30 day mark. In these cases, if you do this three times in a row, its called a "Rolling Late" and counts the same as a 30-day late, typically a pretty big penalty for qualification and/or pricing a DSCR Loan. Bottom Line, if you want too scale a real estate portfolio — with enough properties for financial freedom — you are going to need lots of mortgages and can't afford to have late mortgage payments in your credit history — 30 days, or fewer. Your best bet to keep clean credit, qualify for DSCR Loans — and get the best rates and terms, and avoid late fees and other headaches - is to always pay on time, every time!
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