What is the difference between A. Conventional Rental Income Investment Property Loan Vs. B. DSCR Loan ?

Great question, GV! Two different documentation types:

Full documentation gets the better rates: income taxes, paystubs, etc, so the borrower's earned income is the basis for underwriting.
DSCR= debt service coverage ratio. When I can't get the customer qualified going full documentation, this is a good one b/c I don't need taxes. Basically, if the rental property's income covers the full payment, we have a loan. Actually, the rent has to cover 75% of the payment.

There are other minor things that go along with the above, but that's jist of it. Realize DSCR is only for investment properties.

Joel Richardson Lender

	Joel Richardson VP Branch Manager phone: 512-203-8244 email: Joel.Richardson@fcmhomeloans.com

Comments

Bonnie Fish McGee's Spooky 1st Birthday Party! Oct. 19th, 2024. Good times.

Austin, Texas has a DOG PROBLEM.....

Austin, Texas has a DOG problem (Letter I wrote and sent) Dear Austin City Council Members, Hello and well regards, Yesterday afternoon during a simple bicycle pedal exercise ride, I was physically chased by an unleashed Pitbull dog in ZILKER PARK. Then directly after recovering from almost being mauled by an unleashed pit-bull in Zilker Park, I attempted to buy a Gatorade at a nearby Barton Springs Road Market, but that didn't go well either, as an interior Market commercial customer had a massive mixed breed dog trolling through the diminutive shopping isles. Then this morning, at a Coffee shop on SoCo, there was only 1 entry way in and out, and there was another large, although more docile mixed breed dog. All of this has occurred in less than 24 hours. What's the point? The City of Austin's dog friendliness and citizen enabling of irresponsible dog owners has gotten out of control. Newsflash! Not everybody like dogs, being everywhere all the time. especially within ...

I got up early and went = ESPN's Live College Football Gameday Show @ University of Texas - Austin Fall 2024

I awoke circa 5:30 am this past Saturday, took a shower, grabbed a quick bite to eat and coffee@ QT; then rode my moped down to the University of Texas, South Lawn or "6-pack" area to view the LIVE ESPN taping and broadcast show, COLLEGE GAMEDAY. When I arrived on campus at 6 am it was still dark and there were plenty of fans already there. The actual LIVE College Gameday Show started at 8 am Central Time. We as fans are simply backdrop visuals and noise for the show. There were tons of fans signs, almost too many to even read. All of the On-Air TV Talent was friendly and excellent! Desmond Howard, Lee Corso, Pat McAfee, Kirk Herbstreet, and Nick Saban. Pat McAfee is the "get the home crowd revved up" talent, which is needed for the live show. Overall it was quite entertaining and free to attend. It'll get your Saturday juiced up. https://promo.espn.com/collegegameday/

Search This Blog