dominionfinancialwholesale.com

{"@context":"https://schema.org","@type":"Organization","name":"Dominion Financial","legalName":"Dominion Financial Services, LLC","url":"https://dominionfinancial.com","logo":"https://dominionfinancial.com/images/logo-color.png","address":{"@type":"PostalAddress","streetAddress":"32 South St","addressLocality":"Baltimore","addressRegion":"MD","postalCode":"21202","addressCountry":"US"},"contactPoint":{"@type":"ContactPoint","telephone":"+1-410-593-1413","contactType":"customer service","areaServed":"US","availableLanguage":"English"},"sameAs":["https://www.linkedin.com/company/dominion-financial/","https://www.facebook.com/DominionFinancial","https://www.instagram.com/dominionfinanciallending/","https://www.youtube.com/channel/UCFT1vfgMeXtH_1KriebXj_w"]}

{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://dominionfinancial.com/"},{"@type":"ListItem","position":2,"name":"Brokers","item":"https://dominionfinancial.com/brokers"}]}

{"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Do I need to be a licensed mortgage broker?","acceptedAnswer":{"@type":"Answer","text":"Yes, you must hold a valid mortgage broker license in your state and be in good standing with regulatory authorities. Proper licensing is required for each state where you do business, and all activities must comply with applicable state and federal regulations. Please note that our broker program currently applies to DSCR rental loans only. Fix & flip (bridge) loans are handled on a case-by-case basis and may require a different process. If you're interested in referring or discussing bridge loans, reach out to your Loan Officer or contact our lending team for guidance: (410) 593-1413."}},{"@type":"Question","name":"What do you need from me and my clients?","acceptedAnswer":{"@type":"Answer","text":"Once your client is ready to move forward, your Loan Officer will guide you through the submission process from start to finish. Our experienced team will work with you to structure the loan, review eligibility, and ensure everything moves smoothly. For DSCR loans, your client will typically need to provide a short application, valid ID, two months of bank statements, proof of insurance, and an executed lease agreement (if applicable). If the property is already owned, we may also request a purchase settlement statement. If applying under an LLC, entity documents and a W-9 will be required."}},{"@type":"Question","name":"What are the required documents and steps for obtaining a DSCR loan?","acceptedAnswer":{"@type":"Answer","text":"Getting your DSCR (Debt-Service Coverage Ratio) loan is a straightforward process that requires several documents and steps: Short 1-Page Application: The application process is quick and uncomplicated, typically involving filling out a simple one-page form. Proof of Insurance: You will need to provide proof of insurance to ensure that your property is adequately protected against potential risks. Executed Lease Agreement: This document confirms that your property is generating income through rental agreements. Purchase Settlement Statement: Providing details about the acquisition of your property, this statement is essential to the loan application. Driver's License, Passport, or Green Card: You must present a valid form of identification, such as a driver's license, passport, or green card, for verification purposes. Two Months Bank Statements: These statements offer a glimpse into your financial health, demonstrating your ability to handle the loan. Entity Documents & W9: If you are applying for the loan as a business entity, you will need to provide essential entity documents and a completed W9 form. Having these documents ready and following the application process will help you secure your DSCR loan with ease."}},{"@type":"Question","name":"What are the prepayment penalty options available for DSCR loans, and how can they be tailored to borrowers' goals?","acceptedAnswer":{"@type":"Answer","text":"DSCR Loan Prepayment Penalties (PPP) offer flexible prepayment structures that can be customized to suit borrowers' needs: Variety of Options: Borrowers can choose from a range of prepayment penalty options, including zero prepayment penalties and structured plans. Tailored to Your Goals: The choice of prepayment penalty plan can be influenced by your long-term vision and financial objectives, ensuring it aligns with your specific goals. Popular Choice: Many clients find the 3-2-1 option to be a preferred choice, which offers a specific prepayment structure. For Optimal Rates: If you're seeking optimal rates, the 5-4-3-2-1 structure may be worth considering, providing a different prepayment arrangement. When it comes to DSCR loans, these prepayment penalty options provide clarity and simplicity. If you need assistance or have questions, don't hesitate to reach out to our team for guidance."}},{"@type":"Question","name":"Where does Dominion Financial lend?","acceptedAnswer":{"@type":"Answer","text":"Dominion Financial lends nationwide, covering all U.S. states except Nevada."}},{"@type":"Question","name":"Is Dominion Financial a licensed lender?","acceptedAnswer":{"@type":"Answer","text":"Yes, we are. Dominion Financial Services LLC. NMLS ID # 898795, 32 South St, Baltimore MD 21202. Dominion Financial Services, LLC is licensed or exempt from licensing in all states, except Nevada. For more information, please see Licensing. This does not constitute a commitment to lend. All offers of credit are subject to due diligence, underwriting, and approval. NMLS Consumer Access"}}]}