FINANCING FOR INVESTMENT PROPERTIES
Debt Service Coverage Ratio (DSCR) Investor Loans
As a wholesale DSCR lender, Castor's Prime PLUS program goes to a 0.75 debt service coverage ratio on loan amounts up to $2M, with a 5% LTV reduction, 680 minimum FICO, $250,000 minimum loan and 6 months PITI reserves.
What Is a DSCR Mortgage?
Castor Financial's debt service coverage ratio (DSCR) loan program qualifies investment property loans on rental income alone, with no personal income and no employment documented. On Prime PLUS the DSCR goes to 0.75 on loan amounts up to $2 million. Loan amounts reach $3 million on Prime, and Expanded DSCR starts at 640 FICO. Foreign nationals, LLC borrowers, 5 to 9 unit multifamily and investor second liens are all eligible.
Why Brokers
Choose Castor
For DSCR Loans
DSCR to 0.75x
PRIME PLUS
Combine business and personal statements, multiple statement streams, asset depletion, and standard W-2 income on the same application.
No limit on the number of accounts used.
Credit Events
EXPANDED
Twelve months of personal or business statements still work for a borrower carrying a bankruptcy, foreclosure or short sale seasoned as little as 24 months.
​
No CPA Letter - Personal Accounts
PRIME PLUS
Personal statements use a 0% expense factor and 100% of eligible deposits. No CPA letter and no expense worksheet holding up the file. Business statements default to 50%, or down to 10% when a CPA letter is provided.
2nd Lien Bank Statement Loans
EQUITY ACCESS
The same 12 months of personal or business statements qualify a standalone second, so a self-employed borrower can pull equity without disturbing a first lien they will never beat.
Program Name | Max Loan Amount | Min FICO | Max LTV |
|---|---|---|---|
Prime PLUS | $2,500,000 | 660 | 80% |
Prime | $3,000,000 | 680 | 80% |
Expanded [5-9 units] | $2,500,000 | 680 | 75% |
Expanded [1-4 units] | $2,500,000 | 640 | 80% |
Equity DSCR [2nd Lien] | $500,000 | 680 | 80% CLTV |