DSCR Loan New Hampshire

Last updated: December 9, 2024

Do you do cash out refi no seasoning for New Hampshire loans?

We do offer refinance options with no seasoning requirements. Here is the general criteria for cash out refi no seasoning for New Hampshire loans. Minimum loan amount has to be above $55,000. Minimum As-Is value on the appraisal has to be $100,000. Between 1-4 units. Must have an active lease with proof of security deposit collected. Property condition must be C4 or better. Minimum credit score of 680. Credit score between 680 to 699, gets maximum LTV of 70%, credit score of 700+ gets maximum LTV of 75%. Max LTC, 100% (less than 90 days seasoning), 140% (90 to 179 days seasoning). Minimum verified rehab, 20% of purchase price (less than 90 days seasoning), n/a (90+ days seasoning). Minimum verified rehab, is an improvement that has been done to the unit to verify increase in as-is value in such as short period of time (less then 90 days) to justify the no seasoning period. Origination fee of 1 to 2 points depending on the loan amount to keep the lights on. Lender fee, $1,995 (doesn't go to OfferMarket), includes multiple fees to several different 3rd party verification services, necessary to certify the information in the Loan File for closing. Appraisal at AMC market price, we also have a promotion that new clients get 100% of their appraisal refunded at closing and 50% refund for existing clients. Time to close, 20-25 days.

I know this is a lot of information. You don't have to lift a finger to calculate any of this to see if you qualify, all you have to do is answer 14 simple questions about your deal and we will tell you if we are a good fit for you and what kind of deal we can offer you. To get an answer on your specific situation, please answer 14 simple questions here in our online quoter for New Hampshire DSCR loans.

You can read more about our cash out refi no seasoning requirements or get started on your New Hampshire DSCR loan.

Can you lend on properties worth less then $100k?

In short, no, appraisal as is value must come in at above 100k. We can only lend on properties that are less then $100k if they are in a portfolio with other properties and the portfolio's total as-is value on the appraisal is above $250k. In order to qualify for our loans, the property must appraise for at least $100k as-is at the time of the appraisal, however, total loan amount may be less then 100k, minimum loan amount is $55k.

Are you able to lend on rural properties?

We can't lend on rural properties. How can I find out, if my property is rural? Here are more detail on how to verify if your property is rural in our Rural Designation Search Tools. The 2 search tools are hosted by USDA Rural Development Property Eligibility and CFPB Rural and Underserved Areas Checker. Both of the tools must flag the property as none rural for it to be eligible for our funding. Use these instruction to find out if your property is considered rural

Do I need to have my property insured to qualify for funding?

Yes, but if you don't already have insurance, we can roll it into the lending process with no extra charge or effort to you. Our insurance team works with thousands of carriers and is intimately familiar with the insurance requirements of your loan. They will be able to ether talk to the agent of your choice or find the most competitive offer without our network of carriers to complement your loan with no extra effort or expense to you. If you already have insurance, you should get an instant quote to see if we can offer you a more competitive rate and save you thousands of dollars over the lifetime of your policy. Get you instant insurance quote here.

What areas in New Hampshire do you serve?

Do you want instant off market listing alerts in these areas? Thousands of private sellers and wholesalers have listed their off market properties on our marketplace.

New Hampshire's robust state economy with high emphasis on seasonal tourism positions it as a great investment option for real estate investors. Low unemployment, elite colleges, world class outdoor locations are just some of the great attractors that make this state an excellent choice for real estate investment. While we serve all areas on New Hampshire, here is the list of areas that we believe will have the most attractive deals for real estate investors active in the state.

1. Concord
2. Derry
3. Dover
4. Hampton
5. Hooksett
6. Manchester
7. Merrimack
8. Nashua
9. Newmarket
10. Portsmouth
11. Rochester
12. Salem

Lets take a look at each of these areas specifically to understand what makes them an interesting market from the perspective of real estate investors.

Concord, NH, is the state capital and economic center of New Hampshire. A larger presence of state government jobs as well as a large hospital and health care complex creates a stable economic environment that supports local rent growth. In recent years, city's leadership has been heavily investing in a revitalization plan of the downtown area, creating a walkable urban environment that caters to busy professionals lifestyle. Its central location within the state, not only offers easy access to all great amenities New Hampshire has to offer but also attract out of state buyers that are seeing more affordable alternative to pricier Boston suburbs, since its developed highway system still allows for a reasonable commute to the Boston and north parts of Massachusetts.

Derry, NH, the smallest corner of the Manchester-Nashua-Derry triangle, is a charming town with a walkable downtown and plenty of space for outdoor recreation, such as hiking at Beaver Brook Falls, visiting the Robert Frost Farm state park. Since its the smallest town in the trifecta of Manchester-Nashua-Derry, it real estate tends to be more affordable compared to some other two parts of the triangle, providing good value for real estate investors. The leadership of the town, in recent years, has been heavily investing in a revitalization plan to bolster economic development in the Derry Meadow industrial business park which has helped with local rent growth as professionals flocking to this area due to its job prospects balanced with affordable real estate. Its also located just a few minutes drive from the border with Massachusetts providing convenient access to a Boston.

Dover, NH, is conveniently located in the Boston-Cambridge-Newton, MA-NH metropolitan area, which has seen steady population growth and economic expansion in recent years, driving demand for housing. This trend is becoming more pronounced specifically in smaller areas of within the wider metropolitan area as work-from-home trend accelerated by the COVID pandemic added flexibility to professional's work patterns and encourages a migration from expensive parts of the metropolitan area in search of better value. Thus, Dover offers a relatively affordable entry point compared to many other areas in the wider Boston metro, while still providing access to major employment hubs. Additionally, as a college town home to the University of New Hampshire, there is an added layer of consistent demand for rental properties from students and faculty.

Hampton, NH is an appealing investment locale for its proximity to the beach and location between the Boston and Portland metro areas. As a popular summer vacation destination, there is strong seasonal demand for short term rental properties from tourists and vacationers. However, its worth noting, that in 2018, Hampton passed an ordinance that requires short-term rental properties (rented for less than 180 consecutive days) to obtain an operating license from the town. The ordinance limits the total number of short-term rental operating licenses to 350 across the town. This artificially imposed scarcity on short term rentals increases demand, so if an investor is lucky enough to get one of the licenses, it creates a lucrative opportunity to benefit from local economy. Hampton also benefits from being a more affordable option compared to many other coastal New England towns, while still offering that quintessential New England seaside charm.

Hooksett, NH is an attractive location for rental investment for a galore of reasons. For one, compared to many surrounding towns, Hooksett has relatively lower property tax rates, which automatically increases profitability of local rentals. Hooksett is just a short drive from Manchester, which is home to several major employers like Catholic Medical Center, Elliot Hospital, and Bank of America's operating center. Local area has seen significant commercial and retail development along its portion of the Route 3 corridor. Major stores, restaurants, and the Hooksett Crossing shopping plaza provide jobs, amenities, and tax revenue for the town to reinforce the economic development cycle. Finally, Hooksett hosts several industrial parks like Hundred Acres and Trillcraft that house manufacturing, distribution, and technology companies.

Manchester , NH is the largest city in northern New England and has seen steady population growth thanks to an influx of new businesses and jobs. Compared to the Boston area, housing prices in Manchester are relatively affordable, which with proliferation of work-from-home has presented an attractive pull factor for professionals to migrate to the area. Manchester is home to several colleges like Southern New Hampshire University and UNH-Manchester, ensuring a constant pool of students seeking rental housing. Manchester's location along I-93 and proximity to Boston, the NH/Maine seacoast, and White Mountains is a draw for both businesses and residents. Apart from college student demand, a vibrant local business community promotes demand from professionals from the following companies that have offices and distributions centers in the vicinity: Velcro USA, Freudenberg Nonwovens, Pandora Mill Outlets, Elliot Hospital, Catholic Medical Center, Dartmouth-Hitchcock Medical Center, Oracle, Dyn, Autodesk, SilverTech, Citizens Bank, TD Bank, The Lawton Companies, Allegiant Air, Markinson Aviation, and AeroDefenseNews,

Merrimack, NH is located just south of Manchester and has easy access to the job markets of both Manchester and Nashua. Its location along the F.E. Everett Turnpike allows residents to commute to employment hubs in Boston as well. Major tech companies like PC Connection, Connection and Fidelity Investments have operations in Merrimack, bringing high-paying jobs that support local demand for real estate. Suburban, family-friendly environment with good schools and community amenities like parks and recreation areas makes it appealing for families looking to rent or buy homes. There are some larger undeveloped tracts of land remaining in Merrimack that could allow for new housing/mixed-use development projects that investors may find attractive. While not the cheapest in the area, Merrimack's real estate prices are still relatively affordable compared to many Boston suburbs, especially for its access to jobs and amenities.

Nashua, NH, has a diversified economy with major employers across sectors like technology, finance, healthcare and manufacturing. Companies like Oracle, BAE Systems, Dell, and Fidelity Investments are top employers drawing in workers. Located just over an hour from Boston, Nashua provides a more affordable option for those commuting into the Boston area for work. Its location along major highways makes it an appealing suburb for city workers priced out of the urban core. Nashua's downtown has undergone significant revitalization efforts with new restaurants, housing and community spaces. With institutions like Rivier University and Nashua Community College, Nashua has a built-in pool of students seeking rental housing near campus. Additionally, Nashua has development-friendly policies and areas zoned for mixed-use communities that could allow investors to get in on the ground floor of new projects.

Newmarket, NH is located just over 10 miles from Portsmouth and about 15 miles from Dover, putting it in proximity to major employment hubs. Its location off Route 101 and near I-95 provides an easy commute to these larger cities. Compared to the expensive seacoast region, housing prices in Newmarket are relatively more affordable, allowing for a great entry point for a rental investment. Newmarket's population has grown steadily over the past decade as people get priced out of surrounding areas. Newmarket hosts a campus of the University of New Hampshire, providing a built-in renter pool of students seeking off-campus housing options.

Portsmouth, NH has a thriving downtown with a mix of businesses, shops, restaurants and cultural amenities drawing residents and tourists alike. Major employers like Lonza Biologics and Spraying Systems Co. provide good job opportunities. As a historic seacoast town, Portsmouth offers the appeal of waterfront living, beaches, and that classic New England coastal charm. Located just an hour from Boston, Portsmouth serves as a bedroom community for those commuting into the Boston job market while providing more affordable housing costs. Tourism is a major economic driver, with visitors coming for attractions like Strawbery Banke Museum. Portsmouth has actively encouraged downtown redevelopment and new mixed-use projects to revitalize areas, creating opportunities for investment.

Rochester, NH population grown has steadily increased over the past decade as people get priced out of pricier surrounding areas like Portsmouth and Dover. This has encouraged in-migration into the town. Rochester is just a 30-minute drive from Dover and Portsmouth, putting it within commuting range of major employers in those cities as well as in southern Maine cities like Saco and Biddeford. While more suburban, Rochester has its own major local employers like Albany International Corp and Deaf Memorial Elementary School providing jobs.

Salem, NH is located right off I-93 and is just a 30-40 minute drive into downtown Boston. This makes it an appealing suburb for those commuting into the Boston job market while offering more affordable housing costs. Recently, it has emerged as a major retail destination, home to the Mall at Rockingham Park as well as big box stores and commercial plazas along the I-93 corridor. Salem's population has grown over 15% in the last decade as people get priced out of Boston and surrounding MA towns. Salem has developable land available and has seen new housing developments, apartment complexes, and mixed-use projects spring up in recent years, offering investment opportunities. Salem markets itself as a business-friendly town with tax incentives and policies geared toward attracting new companies and development.

Do you want instant off market listing alerts in these areas? Thousands of private sellers and wholesalers have listed their off market properties on our marketplace.

Is New Hampshire a good place to buy investment properties?

There are several factors that make New Hampshire an attractive state for buying investment properties such as low taxes, strong rental market, affordability relative to Boston metropolitan area, great lifestyle potential, and economic growth. New Hampshire has no personal income tax or sales tax. It also has relatively low property tax rates compared to other New England states. This allows investors to keep more of their rental income and increases profitability. Many areas of New Hampshire, especially those closest to Boston, have strong rental markets driven by economic growth, amenities, and limited housing supply. While still expensive, real estate in most of New Hampshire is much more affordable than in the Boston metro area itself. New Hampshire offers amenities like beaches, mountains, and historic town centers that give it lifestyle appeal to potential tenants. The business-friendly environment and access to the Boston job market has spurred economic and population growth in parts of New Hampshire, supporting housing demand.

How Do DSCR Loans Work in New Hampshire?

The overall process of getting a DSCR Loan in New Hampshire is approximately as follows. You submit an application for a loan (you can get started on your loan with an instant quote answering 14 questions about your property. An instant quote will tell you if you qualify for the loan in under 1 minute of your time. It will also show you the a preliminary interest rate and loan amount. Once you select desired LTV (which can be changed later), your quote will be converted to a Loan File for processing purposes.

You will have to submit documents as part of your Loan File for underwriting. Documents we may ask for will include personal and property documents such as purchase contracts, current leases, borrowing entity documents, deeds, title work (we will engage a title company or an attorney on your behalf to draw up these documents), background and credit reports (that we will order), bank statements for liquidity verification as well as other documents that may be applicable to your specific deal. Full list of requirements can be found here in DSCR loan requirements.

We will also handle all the aspects of scheduling and appraisal for you. Please note that we have a promotion, where new clients receive a 100% refund at closing for their appraisal and existing clients forever get a 50% refund for their appraisal at closing as our way to say thank you for allowing us to partner with you! Once all the loan documents are submitted, the Loan File goes through underwriting, at which point the underwriting committee may ask for additional documents depending on their discretion. Once the committee receives all the documents and approves the file, closing can be scheduled.

The closing, will be handled by the title company or at the office of closing attorney. Once closing is complete, funds will be wired. Post closing, the loan will be entered into servicing and you will receive information regarding setting up auto-pay or other options that may be available for your loan depending on the specific servicer's capabilities.

How to get a DSCR Loan in New Hampshire?

The easiest way to start your New Hampshire DSCR loan is to click the start button next to "apply for DSCR loan" banners at the top or bottom of this page. OfferMarket's team has expansive experience working with real estate investors across New Hampshire.

What are the requirements for a DSCR loan in New Hampshire?

If you scroll up on this page, you will see a simple checklist that details high level requirements for our DSCR loans in Illinois. If you want a more detailed quote for your specific deal, click "start" next to "apply for a DSCR loan" and our online quoting system will produce an accurate quote based on 14 questions related to your deal. Most investors are able to get a complete quote in under a minute because those 14 questions most investors will know answers to. Our most detailed DSCR Loan Requirements can be found here. Once you complete an online quote, you can proceed to your Loan File, where you can peruse the Loan Terms which will detail all the fees and proceeds of the loan in one convenient interface. Get an instant loan quote and Loan File

Why use New Hampshire DSCR Loans to buy investment properties?

DSCR (debt-service coverage ratio) loans can help real estate investors shorten their cash cycle and grow their rental portfolios more rapidly in a few key ways. First, the higher leverage and lower down payments allowed by DSCR loans mean investors can acquire more properties with the same amount of cash on hand, rather than tying it all up in larger down payments. Additionally, the option for interest-only payments creates more positive cash flow that can be reinvested into new property acquisitions. Finally, DSCR underwriting based solely on the rental income of the property itself, rather than the investor's personal income, enables investors to scale their portfolios more quickly without running into debt-to-income ratio restrictions.