Mortgage Depot provides flexible loan options for investing and purchasing rental properties. Our DSCR HELOC products include opportunities to refinance based on rental income from the property. DSCR HELOC’s job is similar to the standard home equity credit line; however, this mortgage can be used to invest in properties.
Our lenders evaluate rental income on the property to determine the eligibility of the mortgage and the total loan amount. This financing scheme allows for greater loan amounts to be approved, and you can use additional cash to improve real estate, expansion or further real estate investments. The draw period for DSCR HELOC is between five and ten years.
DSCR refinancing options can also help borrowers consolidate their debts into a loan, which can simplify administrative requirements and financial reporting for their joint ventures. Refinancing their mortgages can also lead to lower interest rates, optimized cash flows, and longer repayment periods.
Key Features:
●First lien Heloc
●Purchase/Cash Options
●Minimum credit score: 700
●Loan to value (LTV) / Consolidated loan to value (CLTV) up to 75%
●Maximum loan amount: $500,000
●Minimum Debt Coverage Rate (DSCR): 1.00
●The first time qualifying investors
●30 years variable clause with 3 years lottery period
●No advance payment
●No income documents required
●Accept short-term rental income
Mortgage Depot knows how important the money is for investing in a rental property. We can make sure you find the best DSCR HELOC products to refinance your loan and maximize cash flow. Our mortgage experts can provide your rental property with information about DSCR HELOC options, including amortization options, interest rates and repayment plans.
We can help you realize your dream of optimizing your rental property investment work. Our mortgage professionals can help you through every step of the application process and update your progress. We can also act as a contact person between you and your former lender and make sure you have everything in your investment journey to maximize your success.
