Retired Investor Finds the Perfect Financing Solution with Milo

When a retired investor sold his first rental property, he saw an opportunity to level up—purchasing a single-family home in Florida valued at $328,998. However, securing financing as a retiree presented unique challenges. Traditional banks weren’t an option, and his financial profile wasn’t strong enough to secure favorable rates through conventional channels. His advisor, familiar with Milo's expertise in DSCR loans, referred him to us.

Overcoming obstacles with a smart solution

The client needed a 75% Loan-to-Value (LTV) mortgage, as most of the purchase funds were tied to the sale of his previous property. However, his under-700 credit score and retirement status meant traditional DTI (Debt-to-Income) loans—based on personal income—weren’t viable. This is where our DSCR loan made all the difference.

Rather than relying on the client’s income profile, which would have led to less favorable rates, we used the projected rental income from the new property to qualify for the loan. DSCR loans focus on whether a property’s cash flow can cover the loan payments, making it a perfect fit for investors with non-traditional income streams or lower credit scores.

A fast and smooth process

Our team quickly set things in motion. With the client’s advisor already aware of the limitations of traditional financing, we aligned on a fast timeline to avoid any disruptions in the purchase. The application was completed, the appraisal was ordered, and all documents were prepared efficiently.

The result? A 75% LTV DSCR loan that perfectly fit the client’s needs, allowing him to close on his new investment property with ease. For this retired investor, the solution wasn’t just a loan—it was a new chapter in his journey, made possible by Milo’s understanding of his financial situation and our tailored approach to lending. At Milo, we understand that your financial profile is more than numbers on a page. It’s your story, and we’re here to help you write the next chapter.

The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.