@@andres_does_rentals you don't have to pay anything with reserves. It's just a risk calculation for.lendsrs to see if you have the capacity to pay the mortgage should your property be vacant.
Hi, I’m always paying attention to your videos because I learn a lot from them. My question is How come the bank won’t count my rental income as income if is not in my w2 or tax forms but will use future potential income to qualify me for a DSCR LOAN? Hope my question makes sense. Thanks ahead.
Great question. Dscr will actually allow you to use rental income to qualify if you own the property. If you're buying with dscr, they'll do a rental survey to determine the income.
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With reserves we can just show bank statements with 3-6 months of reserves?
Yes correct!
@ why did you say “pay reserves”. That threw me off lol
@@andres_does_rentals you don't have to pay anything with reserves. It's just a risk calculation for.lendsrs to see if you have the capacity to pay the mortgage should your property be vacant.
@ are you available today for a call?
Really enjoy your videos. Super informative.
Thank you!
thank you!
What’s a DSCR loan rate currently?
It depends on the scenario, but I'm seeing low 7's in some instances right now.
would 15% be a down payment % that can be done using DSCR? or is 20%-25% standard
It's possible, but higher rates for sure. Also, still need to cash flow.
Is there any seasoning on investor cash out refi ??
With most lenders, yes. However, I've got 1 or 2 lenders with no seasoning requirements.
What DSLR loan need reserves? If we have money in bank account already, why we need to borrow money?
Yes you need reserves. It's a risk calculation for the lender.
hello! nice video
Hi, I’m always paying attention to your videos because I learn a lot from them.
My question is
How come the bank won’t count my rental income as income if is not in my w2 or tax forms but will use future potential income to qualify me for a DSCR LOAN?
Hope my question makes sense. Thanks ahead.
Great question. Dscr will actually allow you to use rental income to qualify if you own the property. If you're buying with dscr, they'll do a rental survey to determine the income.