DSCR Loans: The Shocking Truth About Qualifying Without Income—and Why It Could Make or Break Your Next Investment Deal
Ashley:
I think they are actually easier getting A-D-S-C-R loan because they don’t care about you as much, so they’re not going to go into, let me see your mother’s bank statement. Sometimes when you get conventional lending on the personal side of where’s every dollar coming from. And so I think it is easier to actually get those loans, especially if you’re buying a property that has all the documentation, if it already has a tenant in place, actually easier to do because with the DSER loan, they’re going to want to see what the rental income is. And I’ve had the banks actually ask for the lease agreement, even though I don’t even own the property yet, they want me to already have it rented before I close on the loan. So sometimes I haven’t gone that route because first of all, I don’t want to commit mortgage fraud and make a fake lease agreement just to get this loan.
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