Loansifter is excited to release additional improvements to our support of Expanded Guidelines (Non-QM) products. A new Debt Service Coverage Ratio field, labeled DSCR, has been added to the search form along with the addition of five new income verification type options to the existing Income Verification Type drop-down menu.
Please note, the Expanded Guidelines section of the Loansifter search form is displayed when Expanded Guidelines is selected for the Loan Type.
The DSCR field will allow users to enter a ratio (between 0.01-9.99) to determine the appropriate eligibility and adjustment. It is important to remember that not all investors calculate the DSCR ratio in the same way. As you may know, DSCR is a ratio of rental income to mortgage payment sometimes used to qualify borrowers for investment properties. Loansifter will display the DSCR ratio for eligibility and pricing determinations if the Income Verification Type selected is Investor - DSCR and Occupancy is set to Investment. For DSCR search results, notice that products will be appended with “New”.
The additional Income Verification Type options are listed below:
1099: 1 Year
1099: 2 Year
P&L: 1 Year
P&L: 2 Year
No Income Verification
- The Optimal Blue Loansifter Team
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