Deephaven’s DSCR Cash Flow Loan Gets Your Real Estate Investors to the Closing Table Quickly!

Our DSCR product is specifically for real estate investors. This investor loan qualifies on the cash flow of the subject property. Traditional income verification is not required.

 

  • Low or no DSCR ratio
  • Loan amounts up to $2.5 million
  • Minimum FICO 660
  • Up to 80% LTV on purchase, rate/term refinances, and cash-out up to 75%
  • Cash-out up to $500,000 and proceeds can be used for reserve requirements
  • SFR, PUD, townhomes, 2-4 units, condos, non-warrantable condos
  • 15-year fixed, 30-year fixed, 30-year fixed I/O, 5/6 ARM, and 5/6 ARM I/O
  • Gift funds can be used for down payment, closing costs and reserves with documented minimum required borrower contribution
  • First-time investors allowed up to 75% LTV
  • Up to 6% seller concessions allowed towards closing
  • Foreign nationals allowed
  • Borrowing in the name of an LLC is allowed for all borrowers including foreign nationals
  • 0-6 months ownership seasoning options allowed with the appraised value
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FAQs

How does Deephaven qualify borrowers for a Non-QM loan?

There are several programs for qualifying a borrower’s ability to repay a Non-QM mortgage. Bank Statement programs provide income and cash flow verification. We may also utilize personal assets such as individual retirement accounts and stock accounts to qualify while property investors can use the rent on rental properties.

How are Non-QM mortgage rates set?

Non-QM mortgage rates adjust according to the individual characteristics of the loan and borrower profile. These include: loan-to-value ratio, down payment amount, credit score and history.

What does Non-QM stand for?

Non-QM stands for non-qualified mortgage. It is a term used to identify mortgages that do not meet requirements of federal agencies: Freddie Mac and Fannie Mae. Non-Agency is another term for Non-QM.

Do Non-QM mortgages require a down payment?

Yes, typically between 10% and 20%.

What is the maximum amount a Non-QM customer can borrow?

At Deephaven, the maximum loan amount is $3.5 million depending on the loan type.

Which loan is right for my Non-QM borrower?

The answer varies depending on the type of loan, the borrower's credit profile and how the loan is to be qualified.

Are there commercial Non-QM mortgages?

Yes, there are. Deephaven offers DSCR (Debt Service Credit Ratio) loans for investment and business purposes.

Can self-employed people get a Non-QM mortgage?

Yes, in fact one of the primary reasons Non-QM mortgages were created was to provide loans to the self-employed.