I'm so glad this video has been useful for so many people! Be sure to subscribe to support the channel and you're welcome to reach out to me directly for more information anytime here: balanceprocess.com/dscr-loan-program/
After watching this video, I have a much better understanding of DSCR loans. Greatly appreciate your efforts. What're the rates range right now? And can you help with obtaining a DSCR loan for 5 investment properties in Michigan?
If I get a HELOC loan to put 20% down on a rental property. Can I use the DSCR loan? If so, once I update the house, can I refinance, take the down payment out and repay my HELOC loan?
After watching your video I have better understanding, I'm a 21 years old that wants to get into real estate my credit score is excellent and I make pretty good income but DSCR doesn't require personal income beside stocks portfolio I have no other assets. would DSCR be the best option for me.
If you have decent credit/income it will likely be best to get into your own primary residence first (could even be a 2-4 unit). Investing in rental property for beginners - full video coming next week. Be sure to subscribe.
If the plan is to live in 1 of the units, the you would do it as a primary residence with 3.5% (FHA) or 5% (conventional) down payment. You wouldn't do it as DSCR loan, because a DSCR loan is for investment property only. Feel free to schedule a call with me, happy to talk it out. Schedule a call here calendly.com/lesnerap63/30min
Can I use this loan to put the property under my LLC? I heard the investor cash flow loan can be used for LLC, but can the DSCR loan be utilized this way? Thank you
Great job explaining. My confusion is that i have seen dscr loans explained two ways. The way you just did and then using NOI. Which is it? Or are there two differnt ways of underwriting the loan? Thank you.
Depends on the lender. Keep it simple: rent divided by mortgage (with taxes and insurance)equals your DSCR. So if rent is 2,000 and mortgage is 1,500 then you do 2,000 / 1,500 = 1.33 DSCR. Contact me for any questions. BalanceProcess.com/dscr-loan-program
🙋♂️ I am happy to get it done for you with the most competitive pricing in the market. Feel free to reach out anytime here: BalanceProcess.com/contact
This is my 1st time hearing about this amazing option. Would there still be a need to have a or get a certificate of occupancy, inspection, pay closing costs etc.?
Awesome! 😎 Yes. The only difference between a DSCR loan and a traditional loan is: there is no verification of personal income. The I come approval is based on property cash flow, not personal income. All credit, asset, and property requirements need to be met. Happy to help when you're ready BalanceProcess.com/dscr-loan-program
Is there any benefit to doing a DSCR over a conventional mortgage if you don't mind showing employment/income until you've hit the max number of conventional mortgages? Will one affect your ability to qualify for future mortages more than the other? I.E. if my family and I wanted to buy a new primary residence and I have 5 DSCR loans on my credit report, would it be easier to qualify than if I have 5 Conventional loans? Just curious because we will probably move within the next 5 years and I want the ability to qualify for a new mortgage/primary residence. 800+ credit score.
As far as qualifying in the future for a new primary residence, the DSCR loans are still reported as "conventional" on your credit report. So it wouldn't make a difference from a credit reporting standpoint. I hope this helps. If you need clarity let me know. Thank you!
Thank you. For first time investors, I think it makes most sense to either convert your current primary residence into a rental, or buy a 2-4 unit with an FHA loan with only 3.5% down. Although first time investors are allowed on DSCR loans, its really better fit for experienced investors.
@@MortgagebyAdam thank you 🙏. One more question. How does a bank determine what someone applying for a DSCR loan qualifies for? Is there a limit or as long as the ratio matches up 1.00 or above to cover mortgage, etc depending on bank it can pretty much be any amount within reason?
@@tommycop284 The limit is based on your budget in regards to down payment/costs/reserves. If you have sufficient funds for the budget you're looking for, then you should be good to go (assuming the fair market rent covers mortgage including taxes/insurance). The appraisal will confirm what should be used for fair market rent. Make sense? Feel free to reach out to me anytime here: balanceprocess.com/dscr-loan-program/
Cash out refinance means you pull equity out from the property for debt consolidation, improvements, or other purposes. Rate and term refinance is where you refinance to lower the rate or to pay off a hard money loan. You're welcome to reach out to me anytime here BalanceProcess.com/dscr-loan-program/
Thanks Adam for your videos. Quick question: I'm currently doing two cash out DSCR loans for the same borrower with the same lender. He is a seasoned investor and has 6 properties which are paid off. His credit score is 665, LTV : 55% and DSCR is 0.8%. Now the lender is asking for 12 months of reserves for each property. Both properties that we are doing loan on are currently are free and clear. Is it normal for lenders to consider reserves for each property and not share the reserve funds between the two? Thanks.
12 months reserves for both deals seems excessive for this scenario. There are other options available. Shoot me an inquiry and we can talk it out further. BalanceProcess.com/dscr-loan-program
It depends on how quickly they need to be funded. If they allow you to get under contract with a preapproval letter, then you should be in good shape. You're welcome to reach out to discuss further anytime here: BalanceProcess.com/dscr-loan-program/
2 to 4 units is also looked at as compared to a single family swelling this is ok for a refi but 5 units and above a DSCR is great bc one doesnt have to have cash or a job history or great credit ,,, a LLC is nesc for this as well and the LLLC cant be at the residence u live at ...... correct me if i am wrong
There are lenders out there that allow you to have business credit pulled. But I believe rates/costs are higher than if you were to do it in your own credit. For that type of loan, you may want to seek a hard money loan.
I am looking at an investment property located in South Carolina. I have no income verification at this time but have recently sold a home in NY and have substantial funds available. I would like to use as little as possible down on this home, fix it up first, then rent it out. Is this possible with a DSCR loan. What banks would you recommend for this type of transaction.
Do I need to put an offer on a property before I can get the loan? Or do I tell the lender the property I'm interested in, and they figure out the ratio? Also, can I get a loan under 100k, or do I need to borrow at least 100k?
You don't need a property yet. Step 1 is to get pre-approved to make sure you qualify. Once you get pre-approved, then it's time to find the right property that fits your needs and get under contract. You'll need guidance from your realtor on fair market rent to make sure property cash flows. Loan amount needs to be 100K+ You're welcome to reach out to me anytime for other questions and preapproval here BalanceProcess.com/dscr-loan-program/
Do the properties have to be non owner occupied? And can you rent to a family member? Can you purchase under an LLC if so do they look at both business and personal credit?
Can I use this type of loan to get some funding for building properties for short term rentals? Can I use cash flow projections of those rentals to qualify?
We can do these on apartments, 1-4 property, self storage and retail commercial property. May consider warehouse. Max LTV varies based on property type, experience, and credit. Contact me anytime here: BalanceProcess.com/contact
Thinking about buying my first primary residence with a DSCR loan. I make around $3K+ a month, working on credit and I want to get a multi family first. How’s my situation looking?
If you'll be occupying 1 of the units, you would want to do it on an FHA loan, not a DSCR loan. You're welcome to contact me for additional questions BalanceProcess.com/contact
Hello question in my market Florida we do a lot of efficiencies, in-law quarters and renting rooms that's not considered a true multifamily. Can the income be considered in this case?
I have some rentals, most with mortgages, one fully paid for. If I want to borrow to invest in a new one, do I get a HELOC or cash out refi with one of those rentals or try to get a new mortgage with DSCR loan. I do have funds for down payment. Also is DSCR loan = asset based loans? THX.
It depends on how much equity you have and how much cash you need. A DSCR loan is where the approval is based on property cash flow, not based on available liquid assets. Please feel free to reach out so we can see what makes sense at BalanceProcess.com/dscr-loan-program/
In order to apply for this type of loan do I need to have a property in mind first? If so don't I need to get first qualified in order to start looking? I'm thinking on getting an equity loan and purchase a rental property.
No, you don't need to have a property in mind. You're welcome to reach out to me anytime to start the pre-approval process. Reach out here: BalanceProcess.com/dscr-loan-program/ or call me at 248.894.2763
Yes. The amount you qualify for depends on: fair market rent, available assets (for down-payment, costs, reserves), first time investor vs. non first time investor, and credit score.
It depends on. How much you have set aside for down payment, and depends on investment property experience. You're welcome to reach out to us anytime here: BalanceProcess.com/dscr-loan-program/
AWESOME content! I live in NYC & I am looking to invest in upstate NY. Can you provide a DSCR company for me to work with? Thank you in advance. Subscribed💯
Thanks for the sub! You can shoot me an inquiry anytime and I'll connect you with a lender to meet your needs. Inquire here: BalanceProcess.com/dscr-loan-program/
Hey Anthony, 0:52 into the video, that is exactly what I said. For simplicity verbiage (for people who don't understand what not operating income is) your rent / your mortgage including taxes and insurance is your DSCR.
@@MortgagebyAdam Hey Adam. So how can you get a loan where you are the PG but it reports in your business LLC credit? Also, what are the current interest rates for the DSCR loans and where do I find them? Sry for so many questions. Thank you.
Great vid Adam. So, did I understand that bank statements are still something needed to provide regardless but all other personal financial information is not needed to get the loan in a refinance option? TIA Keep up the good work.
No, the rates on DSCR are not lower than conventional rates. The purpose of a DSCR loan is to get approved based on property income, not personal income. The advantage is not having to document your employment or income.
Is there a lender you recommend for someone getting their first commericla loan? I've heard people say local banks and credit union are your best bet when starting out. I know a lot of commercial lending is done through relationships
I can do up to 8 unit property. Can connect you we someone for 9+ units. Feel free to shoot me an inquiry and we'll get you connected. BalanceProcess.com/dscr-loan-program/
@@BossChronicles not for primary residence. But if you're a business owner we do have Bank Statement Loans where you can get approved based on bank deposits, NOT tax returns.
Can you tell them people should be able to view the content without watching 7 minutes of an ad if their not interested it says video starts in 2 then it’s still going with the ad this is stupid
I'm so glad this video has been useful for so many people! Be sure to subscribe to support the channel and you're welcome to reach out to me directly for more information anytime here: balanceprocess.com/dscr-loan-program/
How long do you have to hold on to a property after purchasing with a DSCR loan...can you get a property fix it up then sell or cash out refi?
6 months. And can cash out after 6 months.
After watching this video, I have a much better understanding of DSCR loans. Greatly appreciate your efforts. What're the rates range right now? And can you help with obtaining a DSCR loan for 5 investment properties in Michigan?
Great to hear! Happy to help with these properties and get you pricing. Feel free to reach out here: BalanceProcess.com/dscr-loan-program/
How do I know how much I can qualify for with a DSCR loan? Or does it not matter if the ratio is correct
Excellent breakdown!! Thanks!!
Thank you. I appreciate that! 😎
Great video! I learned a lot!
Awesome! Thank you! 😎
If I get a HELOC loan to put 20% down on a rental property. Can I use the DSCR loan? If so, once I update the house, can I refinance, take the down payment out and repay my HELOC loan?
Yes, but you'll have to wait 12 months to refinance in order to use the updated appraised value.
Great video!👍🏾👍🏾
Thank you!
After watching your video I have better understanding, I'm a 21 years old that wants to get into real estate my credit score is excellent and I make pretty good income but DSCR doesn't require personal income beside stocks portfolio I have no other assets. would DSCR be the best option for me.
If you have decent credit/income it will likely be best to get into your own primary residence first (could even be a 2-4 unit). Investing in rental property for beginners - full video coming next week. Be sure to subscribe.
So dscr loans can't be used on 5 + unit properties? 5:25
Yes they can be. But guidelines/requirements/products are different on 5+ unit properties.
How many months of reserves are required for a purchase?
6
Can you as an investor buy a duplex to rent one and live in the other house? Would you still get a dscr loan??
If the plan is to live in 1 of the units, the you would do it as a primary residence with 3.5% (FHA) or 5% (conventional) down payment. You wouldn't do it as DSCR loan, because a DSCR loan is for investment property only. Feel free to schedule a call with me, happy to talk it out. Schedule a call here calendly.com/lesnerap63/30min
Can I use this loan to put the property under my LLC? I heard the investor cash flow loan can be used for LLC, but can the DSCR loan be utilized this way? Thank you
Yes. Investor cas flow and DSCR is the same loan, different vocabulary.
Great job explaining. My confusion is that i have seen dscr loans explained two ways. The way you just did and then using NOI. Which is it? Or are there two differnt ways of underwriting the loan? Thank you.
Depends on the lender. Keep it simple: rent divided by mortgage (with taxes and insurance)equals your DSCR. So if rent is 2,000 and mortgage is 1,500 then you do 2,000 / 1,500 = 1.33 DSCR. Contact me for any questions. BalanceProcess.com/dscr-loan-program
@@MortgagebyAdam thank you.
Where is the best place to get a good interest rate on a dscr loan?
🙋♂️ I am happy to get it done for you with the most competitive pricing in the market. Feel free to reach out anytime here: BalanceProcess.com/contact
Good information thank you my brother
Welcome 👊
This is my 1st time hearing about this amazing option. Would there still be a need to have a or get a certificate of occupancy, inspection, pay closing costs etc.?
Awesome! 😎 Yes. The only difference between a DSCR loan and a traditional loan is: there is no verification of personal income. The I come approval is based on property cash flow, not personal income. All credit, asset, and property requirements need to be met. Happy to help when you're ready BalanceProcess.com/dscr-loan-program
Does having an 830 credit score help much more than just the minimum requirements? Or are the terms all practically the same either way?
830 helps. What guideline are you looking for flexibility on?
In video you commented at near the end that this loan is good for 2-4 unit properties can it be used for say a 24 unit property ?
Yes. Feel free to contact me anytime here: BalanceProcess.com/dscr-loan-program
Whats a good lender to use
We do DSCR loans. Reach out here: BalanceProcess.com/dscr-loan-program/
What if you have an IRS tax lien on the current rental property. Can you still apply and qualify?
Yes. The tax lien will need to be paid at closing with the loan, or prior to closing. Shoot me your questions at adam@balanceprocess.com
Who would you recommend for a dscr loan?
BalanceProcess.com/contact
Adam would this work on a 5 unit building? Thank you.
Yes.
Is there any benefit to doing a DSCR over a conventional mortgage if you don't mind showing employment/income until you've hit the max number of conventional mortgages? Will one affect your ability to qualify for future mortages more than the other? I.E. if my family and I wanted to buy a new primary residence and I have 5 DSCR loans on my credit report, would it be easier to qualify than if I have 5 Conventional loans? Just curious because we will probably move within the next 5 years and I want the ability to qualify for a new mortgage/primary residence. 800+ credit score.
As far as qualifying in the future for a new primary residence, the DSCR loans are still reported as "conventional" on your credit report. So it wouldn't make a difference from a credit reporting standpoint. I hope this helps. If you need clarity let me know. Thank you!
Oh, does every bank offer that loan?
No. You can contact me here to apply: BalanceProcess.com/dscr-loan-program
very informative thank you. So you may could qualify for your first realestate property
Thank you. For first time investors, I think it makes most sense to either convert your current primary residence into a rental, or buy a 2-4 unit with an FHA loan with only 3.5% down. Although first time investors are allowed on DSCR loans, its really better fit for experienced investors.
@@MortgagebyAdam if you do Airbnbs would that be included in your portfolio dscr loan would you consider a first time investor
@@amysteinworth3539 if you currently own air bnb rentals, you would not be considered a first time investor.
So there must be a current tenant? You can't purchase vacant property and put a tenant in there, correct?
Vacant property is eligible on purchase and refinance. We'll use the fair market rent per the appraisal to determine eligibility.
Where do I go to get that loan
Where do I call
Or who can finance this loans
Can you please let me know
Than you so much
We do them. You can contact us here: BalanceProcess.com/dscr-loan-program/
Can I use a HELOC from my primary residence as a down payment?
Yes you can.
@@MortgagebyAdam thank you 🙏. One more question. How does a bank determine what someone applying for a DSCR loan qualifies for? Is there a limit or as long as the ratio matches up 1.00 or above to cover mortgage, etc depending on bank it can pretty much be any amount within reason?
@@tommycop284 The limit is based on your budget in regards to down payment/costs/reserves. If you have sufficient funds for the budget you're looking for, then you should be good to go (assuming the fair market rent covers mortgage including taxes/insurance). The appraisal will confirm what should be used for fair market rent. Make sense?
Feel free to reach out to me anytime here: balanceprocess.com/dscr-loan-program/
Can you use a private lender to help with 20% down payment? Are there pre-payment penalties with a DSCR loan?
Funds needs to be seasoned in your account for 60 days. There are options with no prepayment penalty.
Ive seen most say 30 days for seasoning and rent can be used to cover downpayment and fees if needed
Adam do you help people get the dscr loan? How can I get a hold of you?
Hey Amber, yes, happy to help. Can reach me anytime here: BalanceProcess.com/dscr-loan-program or call/text me at 248.894.2763
Hey thank you for share this information what is the difference of cash out or refinance?
Cash out refinance means you pull equity out from the property for debt consolidation, improvements, or other purposes. Rate and term refinance is where you refinance to lower the rate or to pay off a hard money loan. You're welcome to reach out to me anytime here BalanceProcess.com/dscr-loan-program/
@@MortgagebyAdam thank you for answering ,do you do mortgages ? I have a property I’ll like to get in touch if you do
@@Builder.hispano yes I do. Please feel free to reach out to me directly anytime here: BalanceProcess.com/dscr-loan-program/
Thank you for your video. Can I sell in the future the property under dscr loan?For buy,for example, my own home?
A DSCR loan is for investment property only. You can sell at anytime in the future.
thank you
Thanks Adam for your videos. Quick question: I'm currently doing two cash out DSCR loans for the same borrower with the same lender. He is a seasoned investor and has 6 properties which are paid off. His credit score is 665, LTV : 55% and DSCR is 0.8%. Now the lender is asking for 12 months of reserves for each property. Both properties that we are doing loan on are currently are free and clear. Is it normal for lenders to consider reserves for each property and not share the reserve funds between the two? Thanks.
12 months reserves for both deals seems excessive for this scenario. There are other options available. Shoot me an inquiry and we can talk it out further. BalanceProcess.com/dscr-loan-program
@@MortgagebyAdam Thanks Adam. Fortunately borrower had enough funds to cover the reserves so it got taken care of. Awaiting CTC, fingers crossed! ;)
Solid overview... can you do deals in AZ?
Thanks Jason. Yes, we do AZ. You can shoot me an inquiry anytime here BalanceProcess.com/dscr-loan-program/
@Mortgage by Adam hello! Do i have to live in the property if a get this type of loan?? Thank you.
No, this is for investment property only.
Are DSCR loans limited to only commercial properties 4+ units? Can you buy just a 1 unit rental property with a DSCR loan?
This can be done on a single family home, and a 2-4 unit property.
So if I’m looking to purchase a property with no renters currently in it, I would have to put down 25%?
20% down should be fine for current guidelines. You're welcome to reach out anytime here: BalanceProcess.com/dscr-loan-program
What if u own the property out right without a mortgage
You can do a cash out refinance if thats what you're looking to do.
All the qualifications for a DSCR really do vary by lender. The credit score. The LTV. All varies.
You're correct. As with all loan products. Guidelines vary from lender to lender.
Do they do these loans with 15 year terms and if so, what are the current interest rates?
Yes, 15 year fixed is an option. Rates in the 8s. Assuming perfect credit and 20% down.
Do you need to own any property to get this loan or can you get it to buy or finance the properties?
You need to have owned real estate in the last 3 years.
Whats the benefit of buying DSCR? is this just another Hard Money Lender type? What is the downpayment required?
Hard money rates are much higher, and hard money loans are short-term (usually 12-18 month) loans.
@@MortgagebyAdam Great. I'm looking to buy a rental property soon. I m interested in DSCR loan
@@franc587 sounds good! When you're ready, I'm your guy. Contact me anytime at balanceprocess.com/dscr-loan-program/
Hi there , is posible to get a loan for auction properties?
It depends on how quickly they need to be funded. If they allow you to get under contract with a preapproval letter, then you should be in good shape. You're welcome to reach out to discuss further anytime here: BalanceProcess.com/dscr-loan-program/
Can you do a dscr on a fha
No, you can't do DSCR on FHA. For FHA, you're looking at a full doc loan. Let me know what questions you have here BalanceProcess.com/contact
2 to 4 units is also looked at as compared to a single family swelling this is ok for a refi but 5 units and above a DSCR is great bc one doesnt have to have cash or a job history or great credit ,,, a LLC is nesc for this as well and the LLLC cant be at the residence u live at ...... correct me if i am wrong
Correct, you can't do a DSCR loan on a property that you occupy.
So does the rental property need to be rented out for 6months or 6months after the appraisal i can refinance
It depends what the goal is for the refinance. Is it vacant? Are you looking to pull cash out?
You're welcome to reach out for further guidance anytime here: BalanceProcess.com/dscr-loan-program/
Good video didn’t catch what interest rate with the ratio loan
My credit is 760
Happy to get you a rate quote. Feel free to reach out at BalanceProcess.com/dscr-loan-program/
Would a person with a poor credit history (consumer debt) be better to apply for the loan with a LLC ?
There are lenders out there that allow you to have business credit pulled. But I believe rates/costs are higher than if you were to do it in your own credit.
For that type of loan, you may want to seek a hard money loan.
I am looking at an investment property located in South Carolina. I have no income verification at this time but have recently sold a home in NY and have substantial funds available. I would like to use as little as possible down on this home, fix it up first, then rent it out. Is this possible with a DSCR loan. What banks would you recommend for this type of transaction.
Happy to work with you on this Christopher. You're welcome to shootnme an inquiry anytime here: BalanceProcess.com/dscr-loan-program/
where do i go to apply for a dscr loan? Also can i use dscr loan on foreclosure property?
You can apply here: BalanceProcess.com/dscr-loan-program/
The property can be a foreclosure
Do I need to put an offer on a property before I can get the loan? Or do I tell the lender the property I'm interested in, and they figure out the ratio? Also, can I get a loan under 100k, or do I need to borrow at least 100k?
You don't need a property yet. Step 1 is to get pre-approved to make sure you qualify. Once you get pre-approved, then it's time to find the right property that fits your needs and get under contract. You'll need guidance from your realtor on fair market rent to make sure property cash flows. Loan amount needs to be 100K+ You're welcome to reach out to me anytime for other questions and preapproval here BalanceProcess.com/dscr-loan-program/
@@MortgagebyAdamso the property has to sell for at least $120k?
@@crismcdonough2804 125K
Do the properties have to be non owner occupied? And can you rent to a family member?
Can you purchase under an LLC if so do they look at both business and personal credit?
Yes, has to be non owner occupied. You can rent to family. Your LLC can hold title, but the loan will be in your name and on your credit.
Can I use this type of loan to get some funding for building properties for short term rentals? Can I use cash flow projections of those rentals to qualify?
Yes you can. I don't do DSCR construction loans. But there are lenders that do them.
Is this only for apartments or single family. What about commercial rentals like self storage or work warehouse?
We can do these on apartments, 1-4 property, self storage and retail commercial property. May consider warehouse. Max LTV varies based on property type, experience, and credit. Contact me anytime here: BalanceProcess.com/contact
CAN they be done with no money down?
No they cannot. 15% down is the minimum down payment for experienced investors. 20% down for new investors.
Hi Adam. Great video. Can foreign nationals (Canadian) use DSCR from a lender in the US?
Yes we can. Feel free to contact me anytime to answer any of your questions. BalanceProcess.com/contact
Where to apply for the loan process?
is there any way that i can get in contact with you
Absolutely. 248-894-2763 or schedule a call here: calendly.com/lesnerap63/30min
Great information
Thank you! 😎
Wait did you say as low at a 620 credit score can be used? How do we contact you?
Yes. Contact here: BalanceProcess.com/dscr-loan-program/
Thinking about buying my first primary residence with a DSCR loan. I make around $3K+ a month, working on credit and I want to get a multi family first. How’s my situation looking?
If you'll be occupying 1 of the units, you would want to do it on an FHA loan, not a DSCR loan. You're welcome to contact me for additional questions BalanceProcess.com/contact
Why is that so?@@MortgagebyAdam
What about for a new building, I own a land, want to build a 6 unit building
We have ground up construction loans. Depending on previous experience.
@@MortgagebyAdam send me info please
@@franciscodiaz4370 you're welcome to reach out to me with details anytime here: balanceprocess.com/dscr-loan-program
which institutions or banks are the best rated for DSCR loans?
Feel free to reach out and I'll get you connected. Inquire here BalanceProcess.com/dscr-loan-program/
Hello question in my market Florida we do a lot of efficiencies, in-law quarters and renting rooms that's not considered a true multifamily. Can the income be considered in this case?
No, that wouldn't be true multi family.
Can you use the loan for an Airbnb property purchase?
Yes you can.
@@MortgagebyAdam Great! thanks!
any loan product with no down payment and no credit check?
No. You have to have some skin in the game, or there is no incentive to pay the loan back.
What banks or who do I go to to get this loan?
We do them. You're welcome to reach out here: BalanceProcess.com/dscr-loan-program/
Can i get that loan for fix and flip?
We do have fix/flip resources. Feel free to reach out anytime here: BalanceProcess.com/dscr-loan-program/
I have some rentals, most with mortgages, one fully paid for. If I want to borrow to invest in a new one, do I get a HELOC or cash out refi with one of those rentals or try to get a new mortgage with DSCR loan. I do have funds for down payment. Also is DSCR loan = asset based loans? THX.
It depends on how much equity you have and how much cash you need. A DSCR loan is where the approval is based on property cash flow, not based on available liquid assets. Please feel free to reach out so we can see what makes sense at BalanceProcess.com/dscr-loan-program/
In order to apply for this type of loan do I need to have a property in mind first? If so don't I need to get first qualified in order to start looking? I'm thinking on getting an equity loan and purchase a rental property.
No, you don't need to have a property in mind. You're welcome to reach out to me anytime to start the pre-approval process. Reach out here: BalanceProcess.com/dscr-loan-program/ or call me at 248.894.2763
Please is this working also in europe ?
I'm not sure, I'm sorry.
Does a DSCR basically let you know how much you qualify for? Like say, and FHA/Conventional pre approval?
Yes. The amount you qualify for depends on: fair market rent, available assets (for down-payment, costs, reserves), first time investor vs. non first time investor, and credit score.
@@MortgagebyAdam Thank you so much. I would be a first time investor for a beach front condo I'm looking at using for STR. Good to know this info.
I currently own a 6 -plex unit , what program would you offer me to cash out refinance the property -credit score 800
I may have an option for you. Feel free to reach out at BalanceProcess.com/dscr-loan-program/
I have good credit and a new LLC how do I qualify?
It depends on. How much you have set aside for down payment, and depends on investment property experience. You're welcome to reach out to us anytime here: BalanceProcess.com/dscr-loan-program/
Nice! Be great to work with you in 2025 after some rate cuts and I’ll be getting a nice chunk of cash together!
Look forward to working with you!
AWESOME content! I live in NYC & I am looking to invest in upstate NY. Can you provide a DSCR company for me to work with? Thank you in advance. Subscribed💯
Thanks for the sub! You can shoot me an inquiry anytime and I'll connect you with a lender to meet your needs. Inquire here: BalanceProcess.com/dscr-loan-program/
Isn’t the DSCR calculation NOI/Debt service vs. rental income / debt service? Asking for a friend
Hey Anthony, 0:52 into the video, that is exactly what I said. For simplicity verbiage (for people who don't understand what not operating income is) your rent / your mortgage including taxes and insurance is your DSCR.
Is it possible when you put the DSCR loan in your LLC, they still report to your personal credit?
The loan is closed in your personal name, and is reported on personal credit. But the title can be held in LLC.
@@MortgagebyAdam Hey Adam. So how can you get a loan where you are the PG but it reports in your business LLC credit?
Also, what are the current interest rates for the DSCR loans and where do I find them?
Sry for so many questions. Thank you.
Can you use the Dscr loan on a new construction loan?
Only on a rehab loan or existing/finished property.
Is their a 10% down except if you have high credit or is 20% required and nothing else?
20% down is the minimum, and need funds for closing costs, escrows (taxes/insurance) and reserves.
Great vid Adam. So, did I understand that bank statements are still something needed to provide regardless but all other personal financial information is not needed to get the loan in a refinance option? TIA Keep up the good work.
Correct - assets, credit, property all need to meet guidelines. But personal income/employment is not listed on the application. Thank you!
@@MortgagebyAdam Got it! Thanks for the prompt response. Keep building!
@@thatrealestateinsider anytime!
So the property has to at least be 100k ?
Minimum loan amount is 100K
Im sad that the minimum dscr loans are for $100k as there is a multi family property near me thats $68k.
I understand. You may be able to find a hard money lender that goes down to 50K.
I'm still confused just learning
Holler at me for answers to your questions 248-894-2763
Thought dscr requires 15% down?
Currently I am not aware of any lenders doing 15% down on a DSCR loan
Do DSCR’s have lower interest rates? If so how’s that?
No, the rates on DSCR are not lower than conventional rates. The purpose of a DSCR loan is to get approved based on property income, not personal income. The advantage is not having to document your employment or income.
Hey, I have vacant land and looking to build a house can the No ratio loan work for this?
I'm sorry, it would need to be an existing home.
How much higher is the interest rate compared to a traditional 30 year investment mortgage?
1-2% higher depending on credit and loan to value ratio.
@@MortgagebyAdam thank you for the quick reply!
Do you work with borrowers in upstate NY?
Yes
OK great I will be in contact.
What banks, you know, offer this?
We do. You're welcome to reach out here: BalanceProcess.com/dscr-loan-program
@@MortgagebyAdam Ok. Thank you. I will.
I have seen 80% LTV DSCR's advertised. Is this actually LTV (i.e. if I purchase a house at 80% of LTV, am I still required to bring 20%)?
LTV is based on the lower of the purchase price or the appraised value. You would need to do 20% down.
Can you get an dscr loan even if you own no assets?
You need to have assets. Typically 20% down payment, plus costs and reserves. If you're a first time investor, looking at 25% minimum down payment.
dscr loan new construction????
Yes
Can u get down payment assistance for a fact?
No you cannot.
Don’t you have to own a home to be a to qualify?
No you currently have to own a home. You must have owned a home within the last 3 years.
Is there a lender you recommend for someone getting their first commericla loan? I've heard people say local banks and credit union are your best bet when starting out. I know a lot of commercial lending is done through relationships
What type of property?
@@MortgagebyAdam small apartment complex
How many units?
@@MortgagebyAdam depends on the deal
I’m looking at 5-15
I can do up to 8 unit property. Can connect you we someone for 9+ units. Feel free to shoot me an inquiry and we'll get you connected. BalanceProcess.com/dscr-loan-program/
It's so difficult to get access to money to get out of poverty. It's somany obstacles. I just got this loan to flip a house
Congratulations on your loan for the flip!
@@MortgagebyAdam Thanks.
I had to put down 25 percentage 40 thousand to qualify
I have a 4 unit if i want to refi out of fha and buy another property i owe 250k its worth 550k
Happy to help. Feel free to contact me here: BalanceProcess.com/dscr-loan-program/
Soo u already need too own a property ?
For first time investors, you need to be able to show you have owned a primary residence for at least 12 months within the last 3 years.
@@MortgagebyAdam any programs and loans that dont require income verficafion looming to purchase my first property i have good credit
@@BossChronicles not for primary residence. But if you're a business owner we do have Bank Statement Loans where you can get approved based on bank deposits, NOT tax returns.
Can you tell them people should be able to view the content without watching 7 minutes of an ad if their not interested it says video starts in 2 then it’s still going with the ad this is stupid
I'll let youtube know.
Typo* DSCR
No down payment assistance on DSCR.