DSCR
FlexIQ – DSCR
The FlexIQ Debt Service Coverage Ratio (DSCR) product is a business purpose Investment loan that allows investors to qualify based on the subject property rental income and resulting DSCR, rather than traditional income and DTI calculations.
- Max 80% LTV for Purchase and Rate/Term
- Max 75% LTV for Cash-Out
- Loan amounts from $100,000 up to $2,500,000
- Minimum .80 DSCR
- Credit score down to 660
- 1x30x12 housing history allowed
- U.S. Citizen, Permanent and Non-Permanent Resident Alien, First Time Investor, Inter Vivos Revocable Trust, Entity Vesting
- 1-4 Unit, Warrantable and Non-Warrantable Condo, </= 5 Acres
- Reserves as low as 3 months; cash-out proceeds may be used to meet reserve requirements
- Unlimited cash-in-hand permitted for LTV </= 65%
- Full amortization and Interest Only options available
FlexIQ Specific Tools & Forms
General Reference Tools
- FlexIQ Business Narrative Download
- FlexIQ Non-Agency Business Purpose & Occupancy Affidavit Download
- FlexIQ Non-Agency Prohibited Exception List Download
- PHH Non-Agency Prepayment Penalty Guide Download
- PHH Non-Agency Rate Lock Policy Download
- Non-Agency Submission Checklist Download
- PHH Entity Review Checklist Download
FlexIQ Product Guidelines
Tools & Forms for All Products
General Reference Tools
- Quick Reference Sheet Download
- Encompass-Investor-Connect-Tips Download
- Buydown FAQ Download
- Recast Policy Download
Non-Delegated
- Non-Delegated Condo Doc Requirement Checklist Download
- Non-Delegated Loan Delivery Checklist Download
Delegated
- Delegated Document Delivery Checklist Download
