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DSCR/No Income Doc Mortgage Loans

Our DSCR/No income documentation loans are a great permanent loan alternative for investors who either can’t qualify for a conventional loan or do not want to reveal their tax returns. These loans offer long amortizations and are designed for residential investment properties only. Using a DSCR loan the market rent can qualify the borrower provided the rent is equal to the proposed new mortgage payment.

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What is a DSCR/No Income, No Doc Loan?

DSCR/No income documentation loans are asset-based mortgages that do not require tax returns.

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Property Types:

Residential

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Markets:

Texas

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Loan Amounts:

$100K+

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Term

Up to 40 years

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Amortization:

Up to 40 years

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Rate:

TBD

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Fees:

TBD

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LTV:

Up to 75%

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LTC:

Up to 75%

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Qualifying:

No tax returns required

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Recourse:

Yes

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Prepay penalty:

TBD

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CLTV:

Up to 75%

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Escrows:

None

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Credit Score:

650

Why Should You Use a DSCR/No Doc, No Income Loan?

DSCR/No income documentation loans are great for investors who either do not meet the qualifications for conventional loans or do not have the required documentation.

You may want to consider a no income doc loan in the following scenarios:

  • You are recently self-employed
  • You have complex tax returns
  • You have an irregular income
  • Your tax reported income doesn’t meet conventional standards

Benefits of DSCR/No Income Doc Loans

No-income documentation loans are a great option for many investors for a variety of reasons:

  • Allow you to use the potential rent to qualify
  • Less hassle and documentation required
  • More flexible requirements
  • Quick funding
  • Refinance up to 75% of property value
  • Loan amounts of $100K+
  • The property can be in the name of an LLC

Cons of No Income Doc Loans

While no income doc loans can be very flexible, there are also a few drawbacks to this loan option.

  • A 25% down payment is required if using as a purchase loan
  • Prepayment penalties for 3-years
  • Minimum of 680 credit score required
  • Home must be in livable condition

Types of No Doc Loans

  • Interest-Only available
  • DSCR loans allow the rent to qualify the borrower
  • 12-month bank statement loans

How to Get Approved for a No Income, No Doc Loan

  1. Contact our team for assistance and submit your application
  2. Be sure to review your credit score, income, and debt to ensure you are able to qualify and pay off your loan on time
  3. Be able to provide bank statements
  4. Get Pre-Approved! – Learn more about our process.

    Why Noble Mortgage is a 5-star Rated Private Lender

    Experienced

    With 21 years of experience, Noble has a rich history of helping real estate investors reach their financing goals with our hard money lending options.

    Creative

    Our team of experts are well-versed in finding creative and common-sense financing solutions for a variety of investment situations to build long term wealth for investors.

    Fast

    Lending our own money and servicing our own loans allows us to be able to serve our customers quickly. We guarantee a FREE pre-approval within 2 business days and repair/construction draws within 3 business days.

    Responsive

    The Noble team will be with you from start to finish during loan approval process. We guarantee 100% transparency on all fees, to return your phone call within 1 business day, and updates on the progress of your loan every 2 business days.

    Simple

    Our loan process is straightforward, easy, seamless, and efficient, typically closing within 10 days. Learn more about our loan process.

    FAQs

    Is this loan program available for primary residences and investment properties?

    No, this loan program is only available for investment properties.

    Do I have to be employed to qualify for this loan?

    No

    What items are necessary to qualify for this loan?

    Application, ID, and 2 Months Bank Statements.

    FAQs

    Is this loan program available for primary residences and investment properties?

    No, this loan program is only available for investment properties.

    Do I have to be employed to qualify for this loan?

    No

    What items are necessary to qualify for this loan?

    Application, ID, and 2 Months Bank Statements.

    How Can We Help You?