DSCRHawaii.com
Element Mortgage Works With 8 DSCR Lenders to help find you a better deal and get your deal done with confidence!
DSCR = Debt Service Coverage Ratio
Under the Debt Service Coverage documentation options, property income is used to qualify the transaction (no income or employment on application and no supporting income documents needed)
DSCR is defined as gross rents divided by qualifying PITIA (Principal + Interest + Tax + Insurance + HOA Fees)
2 main levels of DSCR Pricing
- Level #1: 1.00 and greater (example rent $10,000/m and total payment $10,000 or less)
- Level #2: 0.75- 0.99 (example rent $10,000/m and total payment $10,001 - $13,333)
Appraiser prepares short-term (AirBNB) or Long Term Rent Schedule
Debt Service Coverage is available to Experienced and First Time Investors purchasing or refinancing investment properties to hold for business purpose (cannot be 1st time home buyer)
100% of the rents can be used and no vacancy factor is required
Debt Service Coverage Ratio is a Business Purpose Loan (Investment properties ONLY)
Purchase Loans up to $3.5m
Cash Out up to $1.5m (up to 75% Loan to Value)
Vest in LLC, Partnership, S-Corp or Corp - Minority members (< =15%) can remain off the loan (no personal guarantee)
When close in LLC does not report to personal credit report
Gift Funds Allow up to 100%!
Ready to take the next step with your DSCR investment?
Fill out the form below to connect with our team and explore tailored solutions to help you succeed in your investment journey. We're here to help you grow and achieve your goals!