We concentrate on serving to actual property traders finance funding properties within the aggressive New York actual property market with our DSCR (Debt Service Protection Ratio) loans. With years of expertise providing DSCR loans in New York, we’ve helped numerous traders, together with first-timers. Whether or not you wish to buy a rental property or refinance an current one, our DSCR packages are right here.
- DSCR = Gross Revenue divided by PITIA / ITIA (Curiosity Solely)
- Max mortgage quantity: $5M
- Eligible properties: 1-4 household houses and condominiums
- As much as 85% LTV for Buy, Charge & Time period Refi
- As much as 75% LTV for Money-Out Refi
- 600 FICO minimal
- Non-Warrantable Condos OK
- Funding properties solely
- Present Funds allowed
- No restrict on financed properties
- Leasehold properties eligible
- Quick-term leases—Airbnb, VRBO (Buy, Charge & Time period Refi, Money Out)
One among our standout choices is the No Ratio DSCR program, which lets you qualify with out utilizing rental earnings. Whereas this program requires a better down fee than our commonplace DSCR 1.0 ratio loans, it gives a singular alternative for traders who could not but have a rental earnings historical past.
Contact our workplace at 800-220-LOAN (5626) or full the Quick Quote kind, and somebody will contact you inside the hour.