Stated Investor Mortgage Lenders
Our Stated Investor Florida Cash Flow mortgage lenders allow you to qualify for investment property based on rental analysis to determine property cash flow. No personal income required to qualify. This saves you from submitting complicated income statements and tax returns.
INVESTOR CASH FLOW MORTGAGE LENDERS USE PROJECTED INCOME TO MORTGAGE QUALIFY!
- Investor Cashflow based on rent comparables with 20% down.
- No personal income used to qualify
- Qualification based on property cash flow
- 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- No DTI restrictions
- Must own a home.
- 1-4 units and condos
- No limit on the number of properties financed
- Investor Loans up to $2 million
- Seller concessions to 2%
A few reasons investors like this stated income loan program:
- Borrow up to 80% of the property value
- Credit scores down to 580
- No employment or income documentation required
- Loan amounts up to $5,000,000
- No Personal Income Documentation Required!
Investor Stated Income Cash Flow Mortgage Requirements
Rather than being based on income and employment documentation, with this unique program qualification is based on what the cash flow determined by the property appraiser. If the comparable rents cover the new mortgage your loan will fund!
- The (DSCR) or (Debt Service Coverage Ratio = DCR) of the subject property you are purchasing is used to calculate the funds that can be used to qualify as follows:
- DSCR must be greater than or equal to 1. (After your downpayment the gross comparable property rent must be greater than the new mortgage payment including principal, interest, taxes, insurance, and HOA.
- DSCR is defined as gross rents divided by qualifying PITIA and HOA. 100% of the rents can be used.
- For a mortgage purchase, the amount used for rent will be the lesser of market rental price (per an appraisal) or current rental agreement in place.
- For the investor cash flow mortgage refinances the amount will be the lesser of market rental price (per an appraisal) or current rental price. Leases for the previous 12 months must be provided.
