High Net Worth Mortgage Guide For Yacht Owners
A DSCR loan qualifies the property’s rent, not your personal debts, so a yacht loan payment generally never enters the math.
A DSCR loan qualifies the property’s rent, not your personal debts, so a yacht loan payment generally never enters the math.
The property’s rent — not your tax returns — drives qualification, and coverage, credit, and reserves all move together at scale.
Leverage steps down as the balance climbs, and every file above roughly $4 million gets reviewed case by case before it’s submitted.
A W-2 underwriter wants two years of stable, documented income.
Program size runs from $300,000 to $30,000,000 across two wholesale channels, with leverage that steps down as the loan gets larger.
A rental-property loan underwritten on the property’s own income generally never sees the jet at all.
Above roughly $4 million, every request gets reviewed case by case before it’s even submitted.
Through select lenders in Lendmire’s wholesale network, loan amounts run from $150,000 up to $10,000,000, with leverage stepping down as the balance climbs.
Rate assumptions belong in the calculator, and the article should discuss coverage qualitatively.
“Jumbo” is a dollar-size label set by a government agency. “Business bank statement” is a documentation method that falls under the non-QM umbrella.
It becomes “jumbo” the moment the loan size crosses the conforming limit for the county — $832,750 in most of the country for a one-unit home.
Which option fits depends heavily on whether the property is a home someone lives in or a rental.
Title has to sit with an individual or a revocable living trust — not an LLC — which trips up a lot of investors before they even get to underwriting.