DSCR loan (Debt service coverage ratio) is also referred to as investor loans, or rental loans and belongs to the non-QM loan category. You can obtain a conventional loan for real estate investment, but this financing is more complicated to qualify for and has substantial liquid reserve requirements. DSCR Loan, on the other hand, is …
Bank statement loans are used to be called “stated income loans”. In the early 2000s, a borrower could often just state their income with no verification of any kind and get a loan. Today’s “stated income loans” are different from the past. New stated income loans are often referred to as “bank statement loans”, “alt doc …
When we talk about Non-QM loans, a lot of people have a bad impression of this type of loan. They think these are not a safe way to get a loan, due to the Great Recession Housing meltdown (December 2007 to June 2009) that leads the public to have a misconception about Non-QM loans. In …
I have to say, this is not only for first-time homebuyers, also goes to all people who are trying to purchase a property. Please pay attention to all the following points, these are the common mistakes that could be avoided when you are thinking to purchase real estate. Didn’t get a pre-approval letter before looking …
