NSS Lending's Loan Programs
We are here to guide you through the best financing options for your DSCR loans, fix and flip & new contruction projects and commercial real estate needs. With competitive rates and personalized service, we're committed to making your investment journey a seamless success. Reach out to us today to discover how we can help you achieve your real estate investment goals!
FIX & FLIP, BRRRR, AND GROUND UP CONSTRUCTION LOAN PROGRAMS
Starting at $50K
Up to 90% LTC
Up to 100% of the rehab
70% of the ARV
Terms: 6 to 24 months
Rural locations on a case by case basis
Do I need fix & flip experience to get financing?
No! However, the terms might be better if you did!
All Done Fixing It and Now You Want to Rent It? NSS BRRRR Loans
Let's do it!
There are no seasoning requirements when refinancing into a rental loan.
No seasoning products starting at $75k
Get up to 75% LTV
Minimum DSCR 1.0
Minimum credit 680
NEW CONSTRUCTION LOANS
Starting at $150K
12-24-Month terms
Rates starting at 8.75%
Minimum credit score 640
Can I get a ground up construction loan if I have no experience?
No Problem! You can get a ground-up construction loan with no experience, but you cannot act as your own general contractor. We will approve your loan if you hire a licensed, fully insured general contractor with a proven track record.
How Do I Buy a Property Using a DSCR Loan?
It's easy! A debt service coverage ratio loan or DSCR loan for short is based on the premise that the rental income on the investment property you want to purchase will cover the loan payment or PITIA. You are not required to provide your tax returns, pay stubs and your debt to income ratio doesn't matter. The only thing that matters is that you have enough money for the down payment and closing costs.
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What Is PITIA?
(P) Principal: The money you pay back to lower your loan.
(I) Interest: The fee the lender charges you to borrow the money.
(T) Taxes: The property taxes you pay to local governments.
(I) Insurance: Homeowner, flood, or mortgage insurance that protects the property.
(A) Association dues: Fees for your neighborhood or condo group, if you have one.
How Much Can I Finance With a DSCR Loan?
Finance up to 80% of the purchase price
Starting at $50K
Minimum DSCR >1.0
Minimum credit score >680
No deferred maintenance.
Single family home, condo, townhome or 2-4 units
Market rent will be used for vacant units
Alternatively, you can finance up to 85% of the purchase price of the property, if the property you're purchasing is...
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A single family home, condo, townhome or 2-4 units.
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Minimum credit score 720.
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You own two or more rental properties for 24 months
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The property has a DSCR of >1.35
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The loan amount is > $100K
You can finance up to 90% of the purchase price of the property, if ...
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The seller (or anyone for that matter) is willing to finance a 2nd position lien for a minimum of 3 years for up to 45% of the value of the property. You would be required put down a minimum of 10% plus closing fees.
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No minimum credit score!
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Single family, condo, townhouse, 2-4 units, 5+ multi-family
2nd Position Lien
$50K TO $400K
Want to get cash out of your property but don't want to lose your great rate on your current mortgage? Now you don't have to! We are offering 2nd position liens so you can access the equity in your property without fully refinancing the original mortgage.
What types of commercial properties can I get financing for?
5+ Multi-Family
Owner & Non Owner
Auto service
Bed & breakfast
Assisted living
Campground / RV park
Car wash
Entertainment & recreational
Healthcare / medical
Hospitality (Hotels & Motels)
Industrial
Mixed-use
Mobile home park
Office
Restaurant
Retail
Self-storage
Warehouse
Other specialty properties