Are DSCR loans hard to get?

Are DSCR loans hard to get?Show more

What's up Beau. Just want to know what underwriters look for in a DSCR deal.

Thank you,
Gibson

Timestamps
[00:15] Does the cash flow from the property cover the debt?
[00:25] Is it purchase refinance or cash-out refinance?
[00:29] Is it a single-family home versus a condo
[00:33] Non-warrantable condo or warrantable condo
[00:40] Know the purchase price, annual taxes, and annual insurance
[00:49] What are the loans based on?
[00:54] Not very detailed underwriting process
[00:58] Doing a background check
[01:37] DSCR loan is not like a conventional loan
[01:45] A loan that is based on the cash flow of the property and your credit profile

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🎯 Underwriters look for credit score and cash flow from the property to cover the debt in a DSCR deal.
🎯 The type of loan and property, such as purchase, refinance, or cash-out, single-family home versus condo, duplex, or fourplex, affects the loan approval process.
🎯 The loan is based on the cash flow of the property and the borrower's credit profile, and the business entity is often the recipient of the loan.
🎯 Underwriting requirements include credit score, trade lines, business entity's standing, and signed operating agreement and formation articles.
🎯 SBA offers various financing solutions, such as 7A, 504 loans for startups, existing businesses, franchises, and office building expansion.
🎯 Underwriting for DSCR loans does not require pay stubs and employment verification, making it a simpler process.
🎯 Beau offers call bookings to discuss SBA financing and other types of financing - http://bookwithbeau.com/
💡 DSCR loans are credit score and cash flow-driven loans for purchasing, refinancing, or cash-out on different types of properties. Underwriting requirements are based on borrower's credit profile, trade lines, and the business entity's standing. SBA offers various financing solutions for businesses. Underwriting for DSCR loans does not require pay stubs and employment verification, making it a simpler process.
#DSCRloans #SBAfinancing

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