DSCR Loan
The Debt Service Coverage Ratio (DSCR) loan is a type of mortgage designed specifically for real estate investors. It allows borrowers to qualify based on the prospective rental income of the property rather than their personal income.
We offer the Investor Flex DSCR loan program with various options tailored to different investor needs.
Key Features of DSCR Loan
Eligibility: Loans must be deemed business purpose loans and be exempt from the Ability to Repay (ATR) and Qualified Mortgage (QM) rules. Investment properties only.
Purchase, rate & term refinance, and cash-out refinances are allowed.
Maximum loan amounts vary by product and property type.
DSCR Calculation: The DSCR is calculated by dividing the gross rental income by the proposed PITI (Principal, Interest, Taxes, Insurance, and any applicable association dues).
Property management fees disclosed by the borrower or identified in the loan file must be included in the PITI calculation.
Key Features of DSCR Loan
Prepayment Penalties: Borrowers can elect to add a 1-, 2-, or 3-year prepayment penalty in exchange for better pricing.
Prepayment penalties vary by state and loan terms.
Loan Parameters: Minimum FICO scores and maximum LTV (Loan-to-Value) ratios vary by product.
Minimum DSCR requirements also vary by product.
Specific reserve requirements must be met, which can affect pricing.
Gift funds and appraisal waivers have specific eligibility criteria.
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Jeffrey Fore
NMLS License # 2673585
Green Cove Springs, Florida
A cutting edge Mortgage Team that offers a seamless & immersive experience for finding your dream home!
NEXA MORTGAGE, LLC
3100 W Ray Rd, STE 201, Office #209, Chandler, AZ 85226
NMLS#: 1660690
NMLS Consumer Access Link: Click Here
NEXA Mortgage LLC is an Equal Housing Lender
Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov.
A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov
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