DSCR HELOC

An ideal solution for real estate investors to get the capital they need to achieve their goals.

With our DSCR HELOC, your real estate investors can access the equity in their investment property without relying on personal income. They can borrow, repay and borrow again up to their set credit limit during the draw period and use the funds for property improvements, acquisitions, business needs or other investment opportunities!

Program Highlights:

  • Maximum loan amount $1 million for first liens
  • Maximum loan amount $500,000 for second liens
  • Minimum FICO $500,000 and under:
    1. 700 first lien, max CLTV 70%
    2. 720 second lien, max CLTV 70%
  • Minimum FICO over $500,000:
    1. 720 first lien only, max CLTV 65%
  • DSCR minimum 1.1x
  • No reserves required
  • Natural person borrower / LLC vesting allowed
  • SFR, PUD, townhomes, condos 2-4 units and rural

 

 

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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.