$1,000 30 Day CTC DSCR Guarantee

The Mortgage Calculator (TMC) is the only DSCR Lender with a 30 Day Clear to Close (CTC) Guarantee for investors! TMC will clear all lender loan conditions for CTC within 30 days of paid appraisal. If we cannot provide the CTC for all lender conditions by Day 30 after appraisal payment we will add a $1,000 lender credit to the file.

DSCR Guarantee Customer Requirements:

  • Must be Business Purpose DSCR Loan for 1-4 Unit Residential Investment Property
  • Minimum Loan Amount of Two Hundred Thousand Dollars ($200,000.00)
  • Minimum DSCR Value of One (1.00) Required (DSCR = Gross Rents / PITIA)
  • Minimum Middle FICO Score of Six Hundred Sixty (660)
  • Provide All Borrower Conditions within 48 Hours to Maintain 30 Day DSCR Guarantee Eligibility
  • Thirty (30) Day DSCR Guarantee Begins the Next Business Day after TMC has received signed disclosure package including LE & Paid Appraisal Receipt from Customer

DSCR Guarantee Lender Requirements:

  • TMC guarantees to clear all Lender side loan conditions within 30 days of commencement of 30 Day DSCR Guarantee
  • TMC is Not Responsible to Clear Any Non-Lender Loan Conditions Including:
    • Borrower Conditions (Any Required Documents from Borrower Must be Provided)
    • Title Conditions (Only Title Can Provide the Title CTC and Conditions)
    • Insurance Conditions
    • Property Conditions
  • If TMC is not able to secure a Clear to Close (CTC) of all Lender side loan conditions within Thirty (30) days of fulfillment of Customer Terms then The Mortgage Calculator will provide a $1,000 Lender Credit Towards Closing

Program Terms & Eligibility:

  • DSCR Guarantee is only eligible for 1-4 unit residential properties.
  • Ineligible Property Types include, but not limited to: 
    • Mixed-Use
    • Commercial
    • 5+ Unit
    • Condotel
    • Manufactured Homes
    • Rural Properties 
  •  TMC 30 Day DSCR Guarantee does not apply if the following occur: Customer- or Seller-initiates changes (1) to the original closing date documented in the purchase contract; or (2) within 10 calendar days of closing that impact loan amount, product type, contract terms, interest rate or initial rate locks. TMC Closing Guarantee also does not apply if delays occur as a result of (1) completion of new construction, improvements or repairs being made to the subject property; (2) Failure by the customer or seller to meet contract terms and requirements, including seller-related delays; (3) Force majeure events, including weather or a natural disaster; (4) Third parties other than TMC-required service providers; or (5) Customer’s failure to respond to TMC requests in a timely manner (e.g. within 2 business days). Additionally, the TMC 30 Day DSCR Guarantee does not apply for transactions in which a direct personal, financial or business relationship exists among any of the parties to the transaction (non-arm’s length transactions). TMC reserves the right to amend, terminate or withdraw the TMC 30 Day DSCR Guarantee at any time without prior notice.
  • A loan preapproval is based on a review of information you provide, your credit report and the property collateral. The issuance of a preapproval letter is not a loan commitment or a guarantee for loan approval. We may offer a loan commitment after you submit an application and we perform a final underwriting review, including verification of any information provided, property valuation and, if applicable, investor approval, which may result in a change to the terms of your preapproval. Preapprovals are not available on all products and may expire after 90 days.
  • All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.
  • All Eligible Business Purpose Loans must vest property title in a standard Entity. Eligible Entities include LLC, LLP, S-Corp, C-Corp. Layered Ownership of Entity Not Allowed.
  • US Citizens Only. Permanent Resident Aliens, Non-Permanent Resident Aliens, Foreign National and other Citizenship Types are Subject to Additional Terms and Conditions.

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