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What documentation is typically required for a DSC
What documentation is typically required for a DSC
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Guest
Guest
Sep 24, 2024
4:10 AM
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Compared to ordinary loans, there is not much paperwork when getting a DSCR loan from the lenders. They require copies of the Tenants income and expense documentation, rent rolls, or lease agreements establishing the net operating income of the property, and copies of expenses of the property such as taxes, insurance, and maintenance costs. On the property, borrowers are also supposed to provide information about these loans. Because personal income account for a smaller fraction and DSCR loans require less persona and/or financial information, it makes the approval process quicker for investors that do not wish to submit much of their information.
Source: https://accountingbyte.com/dscr-loan-requirements/
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