Foreign-national investors
- Can a foreign national get a DSCR loan on a US investment property?
Yes. Foreign nationals can use DSCR financing to buy or refinance U.S. investment property when the property, borrower and transaction fit the program.
- Can a foreign national get a DSCR loan without a US credit score or ITIN?
Yes, sometimes. Foreign-national DSCR programs may accept an investor who has neither a U.S. credit score nor an ITIN.
- Can a Canadian qualify for a US rental mortgage using Canadian income and credit?
Yes, but it depends on the mortgage path.
- Can a Canadian refinance a paid-off Florida property and take cash out?
Yes, often. A Canadian who owns a Florida investment property free and clear may be able to place a new mortgage on it and receive cash at closing.
- Can a UK citizen get a mortgage on a US rental property?
Yes, often. A UK citizen living in the UK can typically finance a US rental with a foreign-national DSCR loan, which qualifies mainly on the property's rent rather than UK income.
- Can an Australian get a mortgage on a US investment property?
Yes, often. An Australian living in Australia can typically finance a US rental with a foreign-national DSCR loan, which qualifies mainly on the property's rent rather than Australian income.
- Can a foreign investor finance a Florida condo with a DSCR loan?
Often, yes, but two reviews have to pass.
- Can Canadians buy property in the USA?
Yes. Canadian citizens can generally buy U.S. residential real estate without becoming U.S. residents or citizens.
- Can a non-US citizen get a mortgage on a US investment property?
Yes. Non-U.S. citizens have several investment-property mortgage paths, and citizenship alone doesn't decide which one fits.
Florida condos
- How do Florida condo milestone-inspection and reserve rules affect investor financing?
They can affect whether the condo project is financeable even when the individual unit has strong rent, value and borrower qualifications.
- Can a foreign investor finance a Florida condo with a DSCR loan?
Often, yes, but two reviews have to pass.
- Non Warrantable Condo Loan Options for Investors
If a condo is not warrantable, a conventional loan sold to Fannie Mae or Freddie Mac usually isn't available, but there are still ways to finance it.
DSCR and refinancing
- Can I refinance a hard-money loan into a DSCR loan?
Yes. Refinancing out of a hard-money or bridge loan into a long-term DSCR loan is one of the most common exits for investors.
- Can you get a HELOC or second mortgage on a rental property without refinancing the first?
Often, yes. A HELOC on a rental is harder to find than one on the home you live in.
- Can I get a DSCR loan under $100,000?
Yes, sometimes. Some DSCR programs accept loan amounts below $100,000, while others do not.
- Can I get a DSCR loan on a vacant rental property?
Yes, usually, especially on a purchase.
- How soon can I do a cash-out refinance on a rental after buying it?
It depends on how you bought it and on the program.
- Can I refinance multiple rental properties into one loan?
Yes, with a blanket or portfolio loan.
- How much down payment do you need for a DSCR loan?
For a typical DSCR purchase, plan on roughly 20% to 25% down.
- Can you refinance a DSCR loan?
Yes. A DSCR loan can generally be refinanced into another DSCR loan or replaced with a different eligible mortgage.
- Who offers a HELOC on an investment property?
Some credit unions, community and regional banks, and portfolio lenders offer HELOCs on investment properties, but far fewer than offer them on a primary home.
- Can an LLC get a mortgage on a rental property?
Yes. An LLC can borrow for an investment property through many business-purpose programs, including DSCR, bridge, fix-and-flip and portfolio loans.
- Is a DSCR loan a conventional loan?
Not in the sense most investors mean.
- Where can I get a DSCR loan?
DSCR loans mainly come from non-QM investment-property lenders, private and portfolio lenders, and mortgage professionals or advisors who can compare several investor programs.
- How do you qualify for a DSCR loan?
You qualify through two tests: the rental property has to support the new debt, and you still have to meet the program's credit, equity, reserve and documentation requirements.
- Can you do a cash-out refinance on a rental property?
Yes. You can replace the existing mortgage on a rental with a larger loan and take the difference in cash at closing.
Flips and multiple properties
- How does a fix-and-flip loan work?
A fix-and-flip loan is short-term business-purpose financing to buy and renovate an investment property.
- What is a blanket mortgage?
A blanket mortgage is one loan secured by two or more properties.
Educational information only. Not a commitment to lend, and not tax or legal advice. Programs, limits and pricing are set by the lender and vary by borrower, property and state. Viador Partners is an investor-financing advisory, not a lender or mortgage brokerage.