Nations Direct Mortgage

Express DSCR

For Borrowers with Positive Cash Flow Properties

Non TRID - Close Fast!

Purchase Money & Rate & Term to 80% LTV

Loan Amounts to $3.5 Million

Highlights

  • DSCR down to .75 with 680 minimum FICO® score
  • DSCR 1.00+ minimum FICO® 660
  • Vacant Properties Allowed on Refinances
  • Originate business purpose mortgages without a state specific license in multiple states*
  • Gift Funds Allowed
  • Charge Origination and receive YSP
  • Cash Out can be Used for reserves
  • Interest Only Loans Qualify using the IO payment
  • Unlimited Cash In Hand Allowed <= 60% (Greater than 60% is $1 Million Max)
  • 30 & 40 Year Fixed I/O Available
  • 1x30x12 on a Mortgage Allowed

    *Ask your AE for more details 

Enhancements

  • Cash-Out LTV expanded to 75% in more areas
  • Increased LTVs in $1.5MM – $2MM loan buckets
  • Minimum loan amount reduced to $100,000
  • Rural properties now eligible for Purchase, Rate/Term, and Cash-Out
  • Increased LTV to 75% for all refinances on condos and 2-4 units
  • Reduced reserves to 3 months for loan amounts ≤ $500K
  • Product Code 120 now allows appraised value after 6 months seasoning (DSCR ≥ 1.00)
  • IPC increased to 6% on purchases
  • LLC closings: no longer require all members; 50% ownership by signing members now accepted

Resources

Click Here for Custom White Label Flyers

Matrix

DSCR Calculator

DSCR Licensing Certification Form

No Licensing Required States

  • Alabama
  • Colorado
  • Connecticut
  • Delaware
  • District Of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • Ohio
  • Oklahoma
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming