The Mortgage Calculator
The Mortgage Calculator celebrates 1 year as a lender specializing in Non-QM and investment loans for AirBnB properties, fix & flips, and ground up construction
MIAMI, FLORIDA, UNITED STATES, June 11, 2023/EINPresswire.com/ — The Mortgage Calculator is celebrating one year in business as the premier Non-QM lender. Specializing in real estate investor loans like DSCR programs, they are experts in short term rental financing. Investors can even price their own loans online using The Mortgage Calculator’s DSCR Quick Pricer. Conventional investment mortgage rates have skyrocketed in the past year, leaving Non-QM loan products at around the same rates. Programs like DSCR loans which do not require any income or employment documentation from the borrower, are now nearly the same rate as a conventional investment loan.
Short term rental real estate investors now have more options than ever when considering financing thanks to DSCR loans. The Debt Service Coverage Ratio (DSCR) is a financial metric used by lenders to evaluate a borrower’s ability to pay back a loan. There is no employment or income used from the borrower, it is based only on the income or potential income of the property itself. It is calculated by dividing the gross market rent by the total debt service (TDS). The result is expressed as a ratio, with a higher ratio indicating a stronger ability to make loan payments. The DSCR is an important factor for lenders when considering a DSCR mortgage because it helps them determine the risk of default on the loan. A high DSCR indicates that the borrower has a strong ability to make their loan payments, which reduces the risk of default for the lender. On the other hand, a low DSCR indicates a weaker ability to make loan payments and increases the risk of default for the lender. As a result, lenders will typically require a minimum DSCR for a DSCR mortgage. This minimum DSCR will vary depending on the lender and the specific terms of the mortgage, but a common requirement is a DSCR of 1.25 or higher.
As a short term rental investor, you can use these DSCR programs to based your purchase on long term rent, or short term rental income. There are options that allow interest only and 40 year amortization options as well. The possibilities are endless for real estate investors at The Mortgage Calculator after one year in business as the go-to Non-QM lender.
About The Mortgage Calculator:
The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access both Conventional and Non-QM mortgage loan programs with over 110 banks and lender partners. Using The Mortgage Calculator’s proprietary technology, borrowers can price and quote thousands of mortgage loan programs in just a few clicks. Our team of 300+ licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages, P&L Mortgages, Asset Based Mortgage Programs, No Ratio CDFI Loan Programs, DSCR Investor Mortgages, Commercial Mortgages, Fix and Flip Mortgages and more! To apply for a mortgage, visit https://themortgagecalculator.com
Mortgage Calculator Company LLC
NMLS#: 2377459
2125 BISCAYNE BLVD SUITE 220
Miami, FL 33137
Nicholas Hiersche
The Mortgage Calculator
email us here
