Frequently Asked Questions

No, you do not need to be a first-time home buyer to qualify for a VA loan. However, you will need to meet the standard credit and income requirements.
The pre-approval is used to analyze how much money you can borrow to buy a house. With so many available online pre-approval services, it doesn’t matter where you get a pre-approval letter. Anyway, we do not recommend using automatic pre-approval since you get a risk of unexpected issues when the home buying process starts.
The DSCR loan is perfect for real estate investors and businesses looking for a flexible financing option. This type of loan allows businesses to borrow money based on their future sales, making it ideal for businesses expecting to experience growth soon. In addition, the DSCR loan is a good option for businesses that may not qualify for traditional bank financing. This is because the DSCR loan is based on the business’s sales, rather than its credit score.
A DSCR loan can benefit you by providing you with access to financing that you would not otherwise have access to. Additionally, a DSCR loan can help you to improve the cash flow and access financing for expansion or other purposes.
If you’re interested in applying for an Idaho DSCR loan, you’ll need to contact a mortgage broker who offers this type of loan. Be sure to shop around and compare interest rates and repayment terms before choosing a lender.

If you’re going to qualify for a DSCR mortgage loan, there are several strategies you can use to improve your DSCR:

  • Increase income. One of the most effective ways to improve your DSCR is by increasing your income. It can be achieved by starting a side hustle or investing in additional rental properties.
  • Reducing your expenses is another effective way to improve your DSCR.
There are a few things you can do to increase your DSCR ratio.
  1. Take a close look at your debt. Make sure that you are only borrowing what you need and that you are not taking on more debt than you can handle.
  2. Reduce your operating expenses. That could involve anything from negotiating better terms with suppliers to cut back on maintenance and repairs.
  3. Increase your rental income. That can be done by finding ways to reduce rates or by raising rents.
  4. Make sure that you are using your available cash flow wisely. Use it to pay down debt, build up savings, or invest in assets that will generate long-term value.
By following these tips, you can ensure that your DSCR ratio stays healthy and that you are able to meet your financial obligations with ease.
You can typically apply for a DSCR loan through a bank or other lending institution. The application process will vary depending on the lender, but you will typically need to provide financial information and documentation about your project.
The process of applying for an ITIN loan is similar to the process of applying for any other type of loan. First, you’ll need to fill out a loan application and provide all of the required documentation. Once your application is approved, you’ll get a loan offer from the lender. You can apply for an ITIN loan online or in person at a lender that offers them.

Choosing the right mortgage can feel overwhelming, but our team is here to help. We’ll take the time to understand your financial situation and goals before recommending the best options for you. We offer various choices, from conventional loans to hard money loans, ensuring you find the right fit. Want personalized advice? Schedule a consultation!

When comparing DSCR mortgage offers, make sure to pay attention to the interest rate, fees, and terms of each loan. In addition, understand what type of property the loan can be used for and whether you will be able to make the monthly payments. Otherwise, contact LBC Mortgage for a custom financing plan to achieve your goals faster.

To get pre-approved, we’ll start with a quick 10-minute consultation to understand your situation. During this call, we’ll tell you what documents we need to review your application. Once we have everything, we usually provide pre-approval the same day. Ready to get started? Schedule your consultation now!