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DSCR loans for Investors - The Basics
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In this episode, Jennifer discusses DSCR loans with Cara Eubank, an expert in financing for investment properties. DSCR stands for Debt Service Coverage Ratio, and these loans are designed specifically for investors. The loans consider the property's cash flow and have unique features such as no employment or income requirements, no debt-to-income ratio, and the ability to finance short-term rentals.
The program requires a primary property that is larger than the investment property being financed. The loan can be used for purchase, rate and term refinance, or cash-out refinance, enabling investors to expand their portfolios.
Overall, DSCR loans provide a straightforward financing option for investors seeking to grow their real estate portfolios. Jennifer recommends finding a local lender familiar with these types of loans.
In this episode, you’ll also hear:
- Importance of cash flow of an investment property
- DSCR loan features
- Recommendation on a local lender
Must-listen moments:
[00:01:18] What does DSCR mean?
[00:02:04] What is the loan for?
[00:03:29] What is the minimum credit score required for the DSCR loan?
[00:07:08] What are the interest rates like?
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