Have you been denied at a bank or another mortgage company for not fitting within the debt to income ratio to qualify for a loan? No need to look any further as we at Blink Lending have an Investment Home Loan.
There are three items to turn in initially with the file, which are 2 Months of Banks Statements, ID, and the Purchase Contract (this would be for a purchase loan). At that point all we would need to do is order an appraisal with a rental income projection the appraiser puts together. What we are looking for with the future rental income is to verify it will cover Principal, Interest, Property Taxes, Insurance and HOA. If it doesn’t, you might be required to put 25% down where as if it does cover it, you will have the option to go down to 20%.
This process can be done with a refinance as well and a cash out refinance up to 70%. This is all down without providing Tax Returns, Pay Stubs, W2’s or any other Real Estate Property documents you may own!
