Investment Home Loans
Investment Home Mortgages in Florida
Investment property loans are a great way to finance your real estate ventures. They provide the necessary funds to purchase or refinance rental properties, allowing you to grow your portfolio and generate passive income. With various options available, it's essential to understand the terms and conditions to choose the best loan for your.
DSCR loans are designed to qualify based on the rental income generated by the property rather than your personal income. This means you have more flexibility in your investments, allowing you to focus on properties that generate cash flow without the constraints of your own earnings.
Benefits of DSLR Home Loans
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There’s no limit to the number of properties you can own — your income won’t restrict you
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Up to 80% LTV
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Credit score of 600 and up
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Use the rental income, not your personal income
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Close in 30 days or less
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30 year, ARM, I/O options
Documents Needed for Invesment Mortgage in Florida
Your loan approval depends 100% on the documentation that you provide at the time of application. You will need to give accurate information on:
Employment
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Complete Income Tax Returns for past 2-years
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W-2 & 1099 Statements for past 2-years Pay-Check Stubs for past 2-months
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Self-Employed Income Tax Returns and YTD Profit & Loss Statements for past 3-years for self-employed borrowers
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DSLR Loans only use rental income so you dont need to use your peronal income
Savings
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Complete bank statements for all accounts for past 3-months
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Recent account statements for retirement, 401k, Mutual Funds, Money Market, Stocks, etc.
Credit
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Recent bills & statements indicating account numbers and minimum payments
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Landlord's name, address, telephone number, or 12- months cancelled rent checks
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Recent utility bills to supplement thin credit
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Bankruptcy & Discharge Papers if applicable12-months cancelled checks written by someone you co-signed for to get a mortgage, car, or credit card, this indicates that you are not the one making the payments.
Personal
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Drivers LicenseSocial Security Card
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Any Divorce, Palimony or Alimony or Child Support papers
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Green Card or Work Permit if applicable
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Any homeownership papers
Refinancing or Own Rental Property
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Note & Deed from any Current LoanProperty Tax Bill
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Hazard Homeowners Insurance PolicyA Payment Coupon for Current Mortgage
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Rental Agreements for a Multi-Unit Property