DSCR loans for new investors
DSCR loans under $100K for new Michigan and Ohio rental investors — $50K minimums, income-based underwriting, and how first-time files get approved.
Want the full breakdown with underwriting details, FAQs, and next steps? Read DSCR Loans for New Investors: Finance From $50K.
Video transcript
Lightly edited for clarity.
"Pretty good. How are you?"
"Good. What can I help you with?"
"So, I'm trying to purchase my first DSCR income property. I'm having a hard time finding one that does loans under 100,000. I was wondering if you guys would be willing to do something like that."
"For DSCR, I can go down to 50K."
"Oh, 50K. Okay. So, what I'm looking at — my goals are I want to build a portfolio. This will be my first purchase, and I'm going to be coming up with more money here in the next couple months. So I want to look for a property somewhere in between 50 and 80K, whether it be Michigan, Ohio, or somewhere over there in that area where prices are a little cheaper, that I can rent out to Section 8 and be able to get a decent amount of ROI."
"Okay."
"So I was wondering if you would be willing to work with me, because I have a property in mind. It's a four-bedroom, so those typically bring a little more money since it's a four-bedroom. I just don't know how my personal..."
"Yeah, sure. So, I don't know what you do know and don't know, but simply speaking, DSCR loans focus on the property's ability to service its own debt. Your personal credit comes into play a little bit, as far as what you're going to pay — like rate and down payment."