• Do I need to verify my personal income for a Debt Service Coverage Ratio (DSCR) loan?

  If you’re using the rental income to support your investment property application (a Debt Service Coverage Ratio loan - DSCR), then the good news for you is you won’t need to dig up a W2 and verify your personal income.. That’s the beauty of DSCR loans. They allow you to grow your portfolio beyond the number of properties your personal income can support using conventional loans because their approval is based on verifying the property’s rental income, not your personal income.Featured

• What's the maximum loan to value ratio (LTV) for an investment property?

  For our conventional loans, we can do a 15% down payment (85% LTV) on purchases of investment properties as well as rate/term refinances of 1-unit properties. Max LTV for a purchase and rate/term refinance on a 2-4 unit property is 75%. For cash out refinances, max LTV is 75% for a 1-unit and 70% for a 2-4 unit property. For our non-QM/DSCR loans, max LTV is 75% for purchase and varies for refinances - a Loan Guide will be able to help you based on your circumstances.Featured

• Can I borrow through my LLC?

  Yes, if you're getting a DSCR loan (which is for investment properties specifically). You’ll limit your liability and help build the credit profile of your property investment activities. However, if you're getting a conventional loan, you cannot close in an LLC. Check out the DSCR articles in this Help Center for more info or call/chat us and we can give you the rundown.Featured

• What loan terms do you offer for investment properties?

  For investment property loans, we offer 30 year or 15 year loan terms. On DSCR loans, we also have a 40-year loan term and a 30-year loan term with interest-only payments for the first 10 years.Featured

• What's the minimum credit score I need for an investment property?

  The minimum credit score requirement depends on the type of loan you're applying for — some loan types, like FHA loans have a lower credit score requirement, sometimes as low as 580. Conventional loans required a minimum of 620. The best way to find out for sure is take about 15 minutes and complete the 5 steps to apply. Even if you're not quite ready yet, you can see exactly where you're at without investing a ton of time.Featured

• Do you offer interest-only options for investment properties?

  Yes, we do offer interest-only options for investment properties if it's a DSCR loan. A 40-year loan term and a 30-year loan term with interest only payments for the first 10 years is available.Featured

• What size loan can I get for an investment property?

  The minimum size of loan for an investment property starts small at $75k, then if you fancy yourself as a bit of a tycoon, good for you. We’ll lend you up to $2 million.Some readers

• Does Beeline offer rehab/fix-n-flip loans?

  Yes! We offer rehab and bridge loans and more. Contact your Loan Guide for more specific details on which program you are interested in.Some readers

• Can I use rental property’s income and not my personal income and get a DSCR loan?

  Yes! Our DSCR program does not require any personal income, and instead qualifies you based on the projected market rent of the property.Few readers

• Can I be a first time home buyer?

  Yes, for sure! We've helped a lot of first time homebuyers and there are a lot of good options out there for you! We have conventional loans down to 3% down (must meet eligibility rules) and FHA loans as well, which only require 3.5% down payment and a 580 mininum credit score. We also have VA options - a Loan Guide will be able to help you decide on the best loan option to suit your situation.Few readers

• Can I do a cash out refi loan on my investment property?

  Yes, we can help you with a cash out refi on your investment property.Few readers

• What is a DSCR loan?

  DSCR stands for Debt Service Coverage Ratio. Eligibility for DSCR loans is based on verifying the rental property income, not your personal income, tax returns and pay stubs. But while DSCR loan programs have advantages, the rates are slightly higher so if your income isn't maxed out with other properties, a conventional loan might be better, but we can help you decide. To calculate the DSCR ratio, we do some basic math. We divide the property's gross monthly rental income by the property carrFew readers

• What if I can’t rent the home for the estimated monthly income?

  If you can't rent the home for the estimated monthly income, don't worry, as we base estimated rental income on the appraisers research so we’re able to use that number. You’re not required to provide a future lease to verify income.Few readers