46
PLAZA HOME
MORTGAGE
ANNOUNCES
NEW INVESTOR
PROGRAM
Plaza Home Mortgage has announced
a new debt service coverage ratio (DSCR)
investor loan program, DSCR Investor
Solutions, that bases qualification on
property cash-flows. e program provides
investor financing of up to $3.5 million, and
compliments Plaza's Non-QM Solutions set.
Available through Plaza's Wholesale
Lending Division, DSCR Investor Solutions
offers 30-year fixed fully-amortized and
40-year fixed interest only loans with DSCR
ratios as low as 0.75%. Qualification is
based on property cash-flows and does not
consider borrower income or employment.
Plaza states that loan amounts can range
from $100,000 to $3.5 million, with LTVs
to 80% and FICO scores as low as 620.
Property types include one-unit SFR/PUDs,
two- to four-units, and condos. DSCR
Investor Solutions is available with and
without prepayment penalties.
"Plaza has always been known for our
easy-to-use systems, broad product selection,
and our high levels of client service," said
Jeff Leinan, President of Plaza Home
Mortgage's Wholesale Division. "Our new
DSCR offering further expands our non-
QM suite, and gives our brokers yet another
reason to do business with us. All DSCR
Investor Solutions loans will be underwritten
by Plaza's dedicated non-QM underwriting
team. So, clients will be dealing with
experienced underwriters who know how to
originate cash-flow loans."
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