{"id":26657,"date":"2023-02-22T08:15:18","date_gmt":"2023-02-22T13:15:18","guid":{"rendered":"https:\/\/mortgagedepot.com\/?p=26657"},"modified":"2023-02-22T11:21:41","modified_gmt":"2023-02-22T16:21:41","slug":"leo-feliz-helping-self-employed-clients-secure-vacation-rental-properties-with-mortgages","status":"publish","type":"post","link":"https:\/\/mortgagedepot.com\/leo-feliz-helping-self-employed-clients-secure-vacation-rental-properties-with-mortgages\/","title":{"rendered":"Leo Feliz: Helping Self-Employed Clients Secure Vacation Rental Properties with Mortgages"},"content":{"rendered":"
Securing a mortgage as a self-employed individual can be a daunting task. But with the right mortgage loan originator on your side, the process can be a lot easier. That’s exactly what happened for one client of Leo Feliz<\/a>, a Mortgage Loan Originator at MortgageDepot’s Hollywood, FL branch<\/a>. Leo helped his client, a self-employed individual, purchase<\/a> a single-family rental property in South Carolina for vacation rental use with a low reserve requirement and good interest rate.<\/p>\n The challenge that this client faced in acquiring a mortgage elsewhere was the lack of comparable rental income. Without the necessary rental income history, many lenders would not consider the property a viable investment. However, Leo was able to find a solution by recommending a Debt Service Coverage Ratio (DSCR) loan. Leo worked closely with his client to gather all the necessary documentation to secure the loan. He advised the client on the best way to present his income and rental history to the lender, ensuring that the loan application would be approved.<\/p>\n