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Debt Service Coverage Ratio (DSCR) is a calculation that helps us determine if a rental investment is generating enough income to make its loan payment obligations. The gross monthly income must cover the subject property *Principal, Interest, Tax, Insurance & Association payment (PITIA). No need to verify personal or business income, No tax returns.
DSCR is calculated by the following simple formula:Required documentation:
Other Information:
ARM Index - 1-yr LIBOR;
Margins – investor-occupied 5.25%;
Caps – 2% initial, 2% each year and 5% lifetime;
Floor (lifetime minimum rate) - is initial note rate. 3-yr prepayment penalty required for investor occupancy / business purpose loans where permitted by law;
Pre Payment Penalty buyouts may be available.
Loan amounts and loan to value limits:
Investment / Business Purpose / Purchase and Rate & Term Refinance 1-4 unit, Condo
(example based on 720 min credit score)
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