Key facts
- June Point Lending has expanded its wholesale non-QM DSCR program to California.
- The expansion brings June Point Lending's DSCR coverage to 19 states.
- Brokers can upload a Uniform Residential Loan Application (1003) and receive initial eligibility results within minutes.
- DSCR loans qualify borrowers based on the cash flow generated by an investment property, not personal income.
June Point Lending, a wholesale non-qualified mortgage (non-QM) lender, announced its expansion of debt service coverage ratio (DSCR) lending into California. This move increases the lender's DSCR program availability to 19 states. The company's technology platform is designed to simplify the non-QM lending process for mortgage brokers, enabling them to upload a Uniform Residential Loan Application (1003) and receive preliminary eligibility results in minutes. DSCR loans are typically used by real estate investors, as they assess a borrower's qualification based on the cash flow of an investment property rather than personal income. Viral Shah, CEO of June Point Lending, stated that the company aims to make non-QM lending more accessible and predictable for borrowers who may not fit traditional lending criteria. Dan Goldman, executive vice president of sales, emphasized the importance of trust in the speed of their service, noting that brokers have dedicated support from account executives and partner success managers. June Point Lending was co-founded by Shah and William DeVar, who previously helped build Better.com.