What is the NOO DSCR Loan Program?
The NOO DSCR Loan program is specifically designed for non-owner-occupied properties, allowing investors to secure financing based on the property’s debt service coverage ratio (DSCR). This program is ideal for investors looking to purchase rental properties or fix-and-flip projects. Unlike traditional mortgage loans, which focus on the borrower’s credit score and income, the NOO DSCR Loan program looks at the property’s ability to generate enough income to cover the loan payments.
Instead of relying on a borrower’s personal income and credit history, eligibility for a DSCR loan is based on the cash flow a property is expected to generate.This approach is particularly beneficial for investors with complex income structures or those with multiple properties.
- Use the highest MID FICO on all borrowers
- Can qualify off the I/O payment
- Can go best case up to 85 LTV on a purchase with a DSCR 1.2 and above
- ITIN loans to best case 70 LTV
- NW condo to best case 80 LTV
- RURAL to best case 75 LTV
- Manufactured homes to best case 65 LTV
- GIFT of equity OK
- GIFT OK- borrower must have at least 10 % of their own funds in deal
- NO FICO score and NO tradelines program to best case 65 LTV
- IF 3 FICO scores- then we do NOT need tradelines
- CONDOTEL to best case 75 LTV
- 2-4 units NOO best case to 80 LTV
- 30 YEAR I/O & 40 YEAR I/O programs
- Can do a Foreign National loan up to best case 70 LTV
- Does not require a NMLS license on all NOO loans is 37+ states
- STR (short term rentals) to best case 75 LTV
- NO RATIO DSCR best case to 75 LTV
Experience The Louie Lucero Team Difference?
The Louie Lucero Team is a trusted name in the mortgage industry, known for their expertise and exceptional customer service. With years of experience helping clients achieve their real estate goals, the team is well-equipped to guide you through the process of securing financing for your non-owner-occupied properties. With the NOO DSCR Loan program, they have simplified the lending process, making it easier than ever to invest in real estate.
How Can the NOO DSCR Loan Program Benefit You?
- Flexible Eligibility Requirements: With the NOO DSCR Loan program, you don’t have to worry about strict income or credit score requirements. The focus is on the property’s income potential, making it easier for investors to qualify for financing.
- Competitive Interest Rates: The Louie Lucero Team offers competitive interest rates for their NOO DSCR Loan program, helping investors maximize their profitability on investment properties.
- Quick Approval Process: The Louie Lucero Team understands that time is of the essence when it comes to real estate investments. That’s why they have streamlined the approval process for the NOO DSCR Loan program, allowing investors to secure financing quickly and efficiently.
- Dedicated Customer Support: From application to closing, The Louie Lucero Team will be there to assist you every step of the way. Their dedicated customer support ensures a smooth and hassle-free lending experience.
Why Choose The Louie Lucero Team for Your NOO DSCR Loan?
The Louie Lucero Team is committed to helping clients achieve their real estate investment goals. With their NOO DSCR Loan program, they have revolutionized the way investors secure financing for non-owner-occupied properties. From flexible eligibility requirements to competitive interest rates, they have everything you need to succeed in the world of real estate investing.
In conclusion, if you’re looking to invest in non-owner-occupied properties, look no further than The Louie Lucero Team’s NOO DSCR Loan program. With their expertise and commitment to customer service, they can help you achieve your real estate investment goals with ease and confidence. Trust The Louie Lucero Team to guide you through the lending process and secure the financing you need for your next investment property.
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