DSCR
Investor
A breakthrough in borrower qualification. Demonstrate ability to repay with a DSCR of .75x or higher, good credit history, and a significant down payment. As a CDFI, we serve the underbanked and look beyond the basics of a borrower.
The information on this page is provided for the benefit of mortgage professionals and not intended for consumers or the general public.
Submit your borrower’s scenario between 9 a.m. and 4 p.m. EST
Monday – Friday and we’ll get back to you with options in two hours or less.
Program Details
Qualification
- Qualify using subject property income ONLY
- Minimum .75x or higher DSCR
- No DTI1 or global calculated
- No tax returns or W2s required. Not a bank statement program.
- No statement/verification of income or employment required
Asset verification
- 1 month bank statement (covering at least 30 days)
- Cash-out proceeds may be used towards reserves2
- 100% Gift funds allowed for down payment and closing costs (must contribute minimum 10% in borrower-sourced seasoned funds)
Program highlights
- Purchase & rate/term refinance up to 80% LTV
- Cash-out refinance max $500,000 cash in hand
- 1-4 units, condos and PUDS
- Loan amounts up to $2M
- Minimum 660 FICO
- 5/6 ARM3, 7/6 ARM3, 15 or 30 year fixed
- Subject properties located in the following States* are limited to ARM3 products ONLY: AK, DC, IL, KS, MI, NJ, NM, RI, PA
- Qualify with interest only payment (minimum 1.00x DSCR, max 75% LTV)
- Corporations and LLCs accepted
- First time investors eligible (with additional requirements)
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Disclosure:
This is intended for Mortgage Broker professionals. All lending products are subject to credit & property approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply. Quontic Bank name & logo are registered trademarks. © 2020 Quontic Bank. All rights reserved.
Information is accurate as of the date listed below and may change without notice.
1 Debt-to-income