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Now Allowing Short-Term Rental Income for DSCR Loans!

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Now Allowing Short-Term Rental Income for DSCR Loans!
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A&D Mortgage is excited to announce that they are now accepting short-term rental income for debt service coverage ratio (DSCR) loans. This new policy allows mortgage brokers to gain access to higher DSCR ratios and better loan-to-value (LTV) ratios of up to 80%, allowing their clients more favorable terms on loan applications. This comes as part of a larger effort by A&D Mortgage to provide industry-leading policies and services – making mortgage loans simpler, faster, and more accessible than ever before!

 

HIGHLIGHTS:
  • When calculating gross income for a short-term rent, 75% of the 12-month average rental income or 1007 can be considered.
  • Alternatively, if no actual rent is available, 75% of AirDNA rentalizer values may be used at the underwriter’s discretion.
  • A short-term rental addendum must be signed by the borrower as well as compliance with state and county regulations for short-term rentals.
  • Short-term rental is prohibited in NY.

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