The advantages of getting a DSCR Loan with NASB:
If you want to purchase an investment property without requiring proof of personal income to qualify, such as tax returns or pay stubs, a DSCR mortgage loan from NASB may be the solution. We look at your debt service coverage ratio (DSCR) to determine eligibility. NASB offers competitive rates, in-house underwriting, and no prepayment penalties, depending on your credit score and DSCR1.
A DSCR Loan can be ideal for:
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NASB offers additional non-QM loan products that may better suit your unique situation. Speak with one of our knowledgeable loan officers to discuss your unique circumstances and explore the mortgage solutions that best suit your needs.
| Loan Type2 | Who is it for? | Min. Credit Score | Min. Loan Amount | Min. Down Payment |
|---|---|---|---|---|
| Bank Statement Loan | Small business owners | 700 | $175,000 | 10% with mortgage insurance* |
| 1099 Loan | Self-employed individuals | 700 | $175,000 | 20%* |
| Asset Depletion Loan | Borrowers using liquid assets to qualify | 700 | $175,000 | 20%* |
| Jumbo Loan | Borrowers with home purchases above the conforming limit | 720 | $805,501 | 20% |
| Credit Event Loan | Helps individuals get a mortgage after credit event like bankruptcy | 620 | $175,000 | 30% |
1Not available in New York state, the Chicago or Baltimore metropolitan areas, and not available in all locations or for all property types. Loans subject to underwriting and eligibility criteria, and other factors. Your loan officer will provide you with more information regarding DSCR loans and what may work best for your situation. Minimum loan amount of $175,000 required to apply. Exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas. Contact a NASB Loan Officer for more details on the specific areas and/or zip codes excluded.
2Additional eligibility criteria for each loan product may exist. Visit nasb.com for more information on each loan product type. Loans are subject to underwriting and eligibility criteria, and other factors. Your loan officer will provide you with more information regarding a specific loan and what may work best for your situation. The 1099 Loan, Bank Statement Loan, and Credit Event Home Loan products are not available in New York, the Chicago or Baltimore metropolitan areas and not in all locations or for all property types. Contact a NASB Loan Officer for more details on product eligibility, specific areas and/or zip codes excluded.
