Call Independent Lending 949.830.3151
Cloverdale DSCR Loans are the perfect loan to cash out or purchase your next rental property. No need for personal financials for calculating debt-to-income ratios since these are loans tailored for investors and the rental property cash flow as the determining income factor. Call us today for a confidential conversation about how a DSCR can work for you.
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Faster Closing Times
Unlimited Cash Out
No Personal Income Requirements
No Employment History Verification
LLC and Other Entities Allowed
Your Trusted Cloverdale DSCR Specialist
Independent Lending has years of experience is providing Cloverdale DSCR Loans, which are becoming one of the most sought after loans for investment properties in the state of Arizona. With rental income replacing the typical conventional lending personal income and job history requirements for approval, DSCR loans are here to stay.
With over $500 million in fundings since 2013, we provide 5-Star service and competitive rates for our California DSCR clients. Contact us today to speak with one of our licensed Mortgage Advisors.
- Faster Funding Times
- Purchase or Cash Out
- Flexible DSCR Solutions
- Short or Long-Term Rentals
- Vacant or Occupied Properties
- Full 30-year Terms with No Balloons
Cloverdale
Cloverdale is located in beautiful Sonoma County, CA and is the most western and northern city in the San Francisco Bay Area. With a population of just over 9,000 residence, it’s a small yet consistently stable rental market know for it’s wine and culinary options. The climate is Mediterranean with mild winters and warm summers located approximately 85 miles San Francisco. Tenants might enjoy visiting one of the many wineries such as J. Rickards Winery, BobDog Winery or Blue Rock Vineyards.
Debt Service Coverage Ratio Calculation Example
The following is an example of how the lender may underwrite the DSCR loan
DSCR = Gross Rental Income / Monthly Debt
Subject Property: Cloverdale Single Family Rental
Annual Gross Revenue: Property is renting for $2,800 per month with an annual gross revenue of $33,600
Operating Expenses: Principle, Interest, Taxes, Insurance and HOA add up to $2,200 per month with an annual operating expense of $26,400
Annual rent of $33,600 / Annual debt of $26,400 = 1.27
A DSCR of 1.27 indicates that the property generates over 20% more income than is needed to cover the debt service. A DSCR above 1.0 suggests that the property has strong cash flow position and should be able to comfortably handle the new loan.
Most Cloverdale DSCR lenders require a DSCR of 1.0 or higher. With Independent Lending we can go lower with compensating factors. Call us at 1.800.315.0043 to learn more about qualifying for your DSCR loan.
Common Cloverdale DSCR Questions
A: Each month, the interest is added to your loan balance. You only repay the loan when you sell the house or when the loan becomes due (such as after you pass away).
A: The acronym DSCR stands for Debt Service Coverage Ratio. A DSCR loan is a Non-QM or Investor Cash Flow loan program used by Cloverdale property investors allowing them to purchase or cash out of their rental property. This loan type focuses on the cash flow generated by the rental property rather than by the personal income of the borrower.
A: Yes, typically other DSCR providers require a credit score of 620+ however with compensating factors, we can go down to 575 scores.
A: Yes, the Underwriter will look at this scenario on a case by case basis. Typically if the subject property was recently remodeled or purchased an exception can be requested.
A: Yes, minimum down payment is usually 20% depending on other factors such as property type and credit score.
A: To begin the process of obtaining your Cloverdale DSCR Loan you can call us direct at 949.216.3902 or toll free at 1.800.315.0043. You can also complete our Contact Form or fill out our secure one page Application Form.
How a Cloverdale DSCR Loan Can Grow Your Portfolio
For real estate investors looking to qualify based on rental income and bypass the traditional route of personal finance underwriting, non-QM loans like California DSCR loans are a valuable alternative. These loans offer added protection and privacy by allowing to close in a LLC or entity. DSCR loans offers flexible financing in terms of interest rates, repayment structures and loan amounts to help investors tailor their mortgage financing target goals.
- Unlimited Property Portfolio
- Less Documentation Required
- Rental Property Focused Lending
- Flexible Common Sense Undwriting
- Rental Cash Flow Not Personal Income
- Quick and Streamlined Underwriting Approval
About Our Mortgage Lending and Service
What Our Clients Have To Say
Recently Funded Cloverdale DSCR Loan
Real World Scenario
$327,000 Cloverdale DSCR Rental Loan for a cash out refinance. We were able to close for this Investor in less than 2 weeks on a lower rate that he had secured from a private money lender. LTV of 60% with 2 years of guaranteed interest. This property provides tremendous cash flow, with a 2.8 DSCR ratio.
Learn More About a Cloverdale DSCR Loan
Contact Independent Lending
Call Toll Free: 1.800.315.0043 / Local: 949.830.3151 or click the Contact Us button to fill out our secure web form for a call back. At Independent Lending, we give every loan request the respect it deserves.
