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DSCR loans (debt service coverage ratio loans) are a great choice for investors of real estate that do not want to use their personal income tax returns to qualify and prefer to use projected rental income from the property to secure a mortgage.

DSCR loans - Debt Service Coverage Ratio loans. A popular choice for real estate investors.

DSCR loans are tailored for income-generating properties, assessing the property's ability to cover loan payments through its rental income, rather than relying solely on the borrower's personal income.
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LoanDanny Staff
LoanDanny Staff AI-Assisted
A No Income No Ratio loan is a type of mortgage that doesn't require income verification or DTI calculations (debt to income). Rather, it focuses on your assets, credit score, and LTV (loan to value) to qualify.
No Income No Ratio Loans - Using assets to qualify for a mortgage.
LoanDanny Staff
LoanDanny Staff

Unlike traditional loans such as FHA and conventional mortgages, a No income no ratio mortgage focuses mostly on your assets, credit score, and loan-to-value (LTV) to qualify.

An FHA 203(b) loan is also called a Basic Home Mortgage Loan
An FHA 203(b) loan is called a "Basic Home Mortgage Loan"
LoanDanny Staff
LoanDanny Staff

While the name "FHA 203(b)" sounds complicated, it ironically stands for something called a Basic Home Mortgage Loan. The "203(b)" is just legal talk that describes what federal law it falls under.

What is the down payment required for an FHA 203(b) mortgage?
What's the minimum down payment I need to apply for an FHA 203b loan?
LoanDanny Staff
LoanDanny Staff

The great news about the FHA 203(b) Basic Home Mortgage is that you can put down as little as 3.5 percent if your credit score is above 580! For example, a $100K house would require a $3,500 down payment.

FHA 203(b) maximum loan amounts allowed in Los Angeles, Washington DC, and Miami Florida
FHA Maximum Loan Amounts in Washington DC, Los Angeles, and Miami
LoanDanny Staff
LoanDanny Staff

FHA 203(b) maximum loan limits vary by county and location in the U.S. In this article we feature 3 big metropolitan areas: Los Angeles, Washington DC, and Miami. Find out what's the max FHA mortgage loan possible in these pricy areas.

Do I qualify for an FHA 203(b) home mortgage loan? How to make sure I am eligible for FHA loans
Do I qualify for an FHA 203(b) Basic Home Mortgage?
LoanDanny Staff
LoanDanny Staff

Am I eligible for the FHA 203(b) Basic Home Mortgage Loan program? What are the requirements and how can I make sure that I qualify? Do I have to be a first-time homebuyer to take advantage of the FHA program? What if I have a bankruptcy on my record?

Can I get approved for an FHA loan if I have a collections account that isn't paid off yet?
Can I get approved for an FHA loan if I have a collections account that isn't paid off yet?
LoanDanny Staff
LoanDanny Staff

If you have an open collection account that you're still making payments to, it is still possible to be approved for an FHA loan. FHA does not require that the collection account be paid off. However, FHA does require that the lender analyze your collection accounts in detail to make sure you have the ability to repay the mortgage.

Is PMI or mortgage insurance required when getting an FHA mortgage loan?
Is PMI mortgage insurance required for an FHA mortgage loan?
LoanDanny Staff
LoanDanny Staff

Do I need to get "PMI" mortgage insurance if I get an FHA loan? Yes, and no. PMI is short for "Private Mortgage Insurance" and doesn't apply to FHA loans. Instead, with an FHA mortgage loan, you will need to get FHA mortgage insurance. You'll pay an FHA mortgage insurance premium up front at the time of closing. Then, you'll pay a premium each and every year afterwards.

What is the difference between an FHA 203(b) mortgage and an FHA 203(k) loan?
Is an FHA 203(b) mortgage and an FHA 203(k) loan the same thing?
LoanDanny Staff
LoanDanny Staff

Are FHA 203(b) loans and 203(k) loans the same thing? What's the difference and why are they named so similarly? People often get these two HUD sponsored FHA loan programs confused because there's literally a 1-character difference in the name (a "b" versus "k"). But in reality, they are very different types of programs.

Learn about FHA mortgage loans.

What is an FHA loan? Is the FHA part of the government? What qualifications do I need to get approved for an FHA loan? Are FHA mortgages a good fit for first-time home buyers? Are the closing costs high?

Learn about FHA Loans

Check out the latest CFPB consumer complaints

The CFPB (Consumer Financial Protection Bureau) lets U.S. consumers submit formal complaints to their "Complaint Database". These include mortgage related companies like lenders and mortgage servicers. It also includes non-mortgage things like credit cards, auto loans, pay day loans, and a lot more. Check out our CFPB dashboard which focuses mostly on the mortgage industry.

See recent CFPB complaints