How to Invest in Real Estate With No Income Documentation
Liz Peter Team • July 7, 2023
How to Invest in Real Estate With No Income Documentation
Liz's Lender Corner
We are proud to announce a new product that allows our clients to invest in real estate without having to provide any income documentation at all!
This type of loan is called a Debt Service Coverage Ratio or DSCR loan and allows us to use the property’s expected cash flow to qualify for the mortgage instead of the borrower’s current income.
Here are some other items that you should know about this exciting new loan program:
- Credit scores starting at 680
- Up to 80% LTV
- Loans up to $2 million, Minimum loan of $75,000
- No limit on total number of properties
- Borrower must own primary residence
- Non-warrantable Condos now allowed
- Condotels now allowed
This loan is great for borrowers who lack a consistent two-year work history, or maybe have started a new business. E-mail us today at lizpeterteam@goluminate.com to learn more about this great opportunity to build your real estate investment portfolio.
Warm regards,
Liz Peter Mortgage Team
Luminate Home Loans
There are many reasons to seek condo ownership – easy maintenance, awesome amenities, security, the list goes on! Whether our clients are looking for a second home on the ocean, or looking for urban living downtown, we want to make sure they understand the ins and outs of condo financing, and how it is evolving.
Are you interested in learning more about down payment loans with a minimum down payment of $1000? Let us introduce you to the amazing programs available with Minnesota housing!
We believe in empowering our clients to achieve their homeownership dreams with ease and confidence. That is why we're excited to introduce you to an innovative solution that can open doors to your new home even before selling your current one: the bridge loan.
When it comes to interest rates, it can be tempting to look up rates online. However, interest rates are unique to each person's financial situation, and looking up rates online may not give you an accurate idea of what rates you may qualify for.
Many of us dream of owning a home, but with that dream comes the responsibility of a mortgage. Life can be unpredictable, and unexpected events can happen, which may affect our ability to make mortgage payments. Here are some "what if" scenarios to consider and how you can prepare for them.
As we enter the spring season, many potential buyers are starting to look for their dream homes. If you are one of them, you may want to consider getting pre-approved and prepared for buying a home. Here are some tips to help you get started.
Calling all doctors – we have a loan program that’s just for you! When you need flexibility in financing, this program is perfect for to doctors in school, those that are just starting out, as well as established doctors.
If you want to learn more about the market or the possibility of owning a home, reach out to me and my team. We want to help you get into your dream home!
Have you been hearing too many conflicting opinions about the housing market? Or maybe you’ve seen one too many memes about how millennials “can’t afford a home?” If so, you’re not alone…but me and my expert team are here to guide you!
With people talking about higher rates and telling you “not to buy,” it can be disheartening to look for your dream home. Luckily, I’m here with my team at Luminate to light your path to homeownership 😊
