Call Independent Lending 949.830.3151
Independent Lending is the industry-leading provider of Maricopa DSCR Loans. With the benefit of using rental income instead of the borrowers financials, DSCR (Debt Service Coverage Ratio) loans are perfect for investors wanting to purchase or cash out of their Maricopa, AZ rental property. We look forward to your phone call and having a quick discussion about how we can assist with your rental mortgage financing.
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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 Maricopa DSCR Specialist
Maricopa DSCR Loans are rapidly becoming one of the most funded loans for rental properties in Arizona. Typically, conventional lending requires 2 years of personal finances which includes tax returns, W-2’s and paystubs and this can limit the ability to qualify, especially if your self-employed or have multiple investment properties. The Maricopa DSCR Loan on the other hand allows for rental cash flow in the underwriters decision making process. This makes for less paperwork and much quicker closings.
In business since 2013 and with over $500 million in fundings, we look forward to providing 5-Star customer service while helping you grow your rental porfolio. Contact us today for a no obligation consultation!
- 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
Maricopa
Maricopa is a city located in the Gila River Valley of southern Arizona, it’s a vibrant and growing rental market known for its warm climate, close-knit feel, and scenic desert surroundings. Maricopa covers an area of approximately 42.59 square miles and has seen significant growth, with a population surpassing 66,000 residents. Key attractions in Maricopa include the Dwarf Car Museum, showcasing unique custom-built cars, and Copper Sky Recreation Complex, a major hub for sports and outdoor activities. Tenants can also enjoy the Harrah’s Ak-Chin Casino, offering dining and entertainment, as well as exploring the Maricopa Historical Society Museum.
Debt Service Coverage Ratio Calculation Example
The following is an example of how the lender may underwrite the Arizona DSCR loan
DSCR = Gross Rental Income / Monthly Debt
Subject Property: Maricopa Single Family Rental
Annual Gross Revenue: Property is renting for $3,500 per month with an annual gross revenue of $42,000
Operating Expenses: Principle, Interest, Taxes, Insurance and HOA add up to $2,800 per month with an annual operating expense of $33,600
Annual rent of $42,000 / Annual debt of $33,600 = 1.25
A DSCR of 1.25 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 Maricopa 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 Maricopa 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 Maricopa 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 Maricopa 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 Maricopa DSCR Loan Can Grow Your Portfolio
DSCR loans offer the perfect opportunity for investors wanting to buy and hold their portfolio in growing real estate markets. Maricopa DSCR loans are rental property focused with the non-owner occupied cash flow taking priority over the borrower’s personal financials or employment, also investor portfolios are not limited to the number of rental properties owned. Arizona DSCR loans can be in a LLC or other legal entity for privacy and protection. Let us help you hit your target goals with your investment portfolio and contact us today!
- 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 Maricopa DSCR Loan
Real World Scenario
Independent Lending was able to close on this Maricopa, AZ refinance in 14 business days for a cash out refinance. The Investor needed the funds to grow their portfolio and invest in another Arizona rental property. This Maricopa DSCR loan has a 80% LTV and loan amount of $198,000 for maximum leverage in this thriving rental market.
Learn More About a Maricopa 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.
