At 3rd Millennium Capital, we provide Multifamily Bridge Loans with competitive rates and exceptional service tailored to your needs. Partner with a lender who truly understands the multifamily real estate market and your investment goals.
A Debt-Service Coverage Ratio (DSCR) loan is based upon cash flow from rental income. Approval for the 30-Year Rental Loan will occur if there is enough cash flow from the rental income received on a particular property to cover the outstanding monthly debt on the property.
The primary qualification for a DSCR loan from 3rd Millennium Capital Funding LLC is the cash flow of the subject property (income divided by expenses). Loan qualification is NOT based on pay stubs, tax returns, or personal income.
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GET QUOTE NOWThe main benefit of a DSCR loan is that it is based on borrower credit and property cash flow, not the borrower’s personal income. DSCR loans are considered to be “low-doc” loans in comparison to conventional loans which require more documentation in order to proceed with the loan.
A conventional loan is often difficult for Real Estate Investors to achieve as they require specific guidelines in order to meet the criteria of Fannie Mae and Freddie Mac. However, a conventional loan is appealing to those who qualify as they may be able to receive a lower interest rate.
In most cases, there’s a 3 month seasoning period for a cash-out refinance. However, depending on factors like loan scope, credit score, and borrower type, it could extend to a longer duration.
For real estate investors who purchased a property free and clear with no liens at closing, we offer a Delayed Purchase Program. This option does not require any seasoning and allows financing based on the original purchase price and rehab costs within the first six months. After that period, investors can refinance using the property’s true loan-to-value (LTV).
No, we do not, only non-owner-occupied residential properties.