Frequently Asked Questions

A DSCR loan works by using the property’s DSCR to determine the loan amount. The property’s DSCR is calculated by dividing the property’s net operating income by its debt service. The higher the DSCR, the higher the loan amount.
Borrowers with liquid assets can use those assets to qualify for a loan. The asset amount is added to the borrower’s income to determine loan eligibility. For example, if a borrower has $100,000 in liquid assets and earns $50,000 per year, the borrower can qualify for a loan as if they earn $150,000 per year.
The DSCR loan program is administered by the Small Business Administration (SBA). Businesses that meet the eligibility criteria can apply for loans of up to $5 million. The SBA guarantees a portion of the loan, which helps to reduce the risk for lenders and makes it easier for businesses to secure financing.
Once you decide to plan a home buying journey apply to get pre-approved. If you have some issues with the financial report, you will have time to improve the situation.
The process of getting approved for a jumbo loan can take several weeks. Borrowers should expect to provide documentation of their income, employment history, and assets. Lenders will also need to order a property appraisal. The entire process can take several weeks, so borrowers should plan accordingly.
It all depends on your unique situation and credit history. However, the process is typically much faster than traditional mortgages, so you can expect to get a decision from your lender within a few weeks.
It all depends. Here at LBC Mortgage, we require the previous 12 months of bank statements for our bank statement loans.
The 2022 Conforming loan limit in California is now $647,200 for most counties, and in some high-cost counties, it’s as high as $970,800. Scroll down for your specific county limit.
The FHA loan limit “floor” is 65% of the conforming loan limit — or $420,680 — for most counties across the country. The FHA loan max, or “ceiling,” in high-cost areas is $970,800 — this is 150% of the conforming loan limit.
The amount you can borrow will depend on your income, employment history, and credit score. However, most Non-US Resident Mortgages range from $50,000 to $5 million.
The amount you can borrow will depend on your business’s financials, including your annual revenue and your ability to repay the loan.
The amount you can borrow with a first-time homebuyer loan will vary depending on the type of loan you choose. FHA loans, for example, typically have lower loan limits than other types of loans. However, you may be able to borrow more if you make a larger down payment or meet certain income requirements.