Out of State, Not Out of Mind

Out of State, Not Out of Mind

KRIS CZELUSNIAK KRIS CZELUSNIAK

KRIS CZELUSNIAK

Account Executive at Plaza Home Mortgage, Inc. Company NMLS 2113 “Equal Housing Lender” MLO NMLS 1290147

发布日期: 2025年2月13日
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????????Loan Originator Licensing:? All clients must be approved to do business with Plaza and all standard client approval requirements apply.? DSCR Investor Solutions 1 & 3 programs do not require loan originators to be licensed for properties in the following states.? For all states not listed below, loan originators must be licensed in the property state.

DSCR Investor Solutions 1:

  • DSCR >=1.0; LTV to 80%;
  • DSCR < 1.0; LTV to 75%
  • FICOs to 640
  • Loan amounts from $100,000 to $3.5 million
  • Available for purchases, rate-term or cash-out refinance
  • Can close in an LLC
  • Loan officers may not require licensing in subject property state (depending on state)
  • 1-4 units, non-warrantable condos and condotels eligible

DSCR Investor Solutions 3:

  • DSCR < 1:?720 FICO minimum; Short-term rent not eligible; Loan amount minimum $100,000
  • Max LTV 80%
  • FICOs to 660
  • Loan amounts to $2 million
  • DSCR Calculations & Rental types allowed (long-term & short-term)
  • Properties, Transactions, Borrower Eligibility are the same as DSCR 1 and DSCR 2
  • Reserves minimum 3 months
  • 2-units and 1-unit have the same LTV maximums (up to 80%)
  • BK/FC/NOD/Forbearance/Loan Mod 4 years seasoning
  • 30-year fixed rate and 40-year fixed rate interest only products

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