Common use of DCR Clause in Contracts

DCR. The Loan Amount for Acquisition Loans and No Cash Out Refinance Loans will not exceed the amount that produces: (i) for a Fixed Rate Loan or Fixed to Float Loan, an Amortizing DCR of 1.25:1.0, and (ii) for a Variable Rate Loan, an Amortizing DCR of 1.05:1.0. The Loan Amount for Cash Out Refinance Loans will not exceed the amount that produces: (i) for a Fixed Rate Loan or Fixed to Float Loan, an Amortizing DCR of 1.30:1.0, and (ii) for a Variable Rate Loan, an Amortizing DCR of 1.10:1.0.

DCR. The Loan Amount for Acquisition Loans and No Cash Out Refinance Loans will not exceed the amount that produces: (i) for a Fixed Rate Loan or Fixed to Float Loan, an Amortizing DCR of 1.25:1.0, and (ii) for a Variable Rate Loan, an Amortizing DCR of 1.05:1.0. The Loan Amount for Cash Out Refinance Loans will not exceed the amount that produces: produces (i) for a Fixed Rate Loan or Fixed to Float Loan, an Amortizing DCR of 1.30:1.0, and (ii) for a Variable Rate Loan, an Amortizing DCR of 1.10:1.01.10:1.10.

DCR. The Loan Amount for Acquisition Loans and No Cash Out Refinance Loans will not exceed the amount that produces: (i) for a Fixed Rate Loan or Fixed to Float Loan, an Amortizing DCR of 1.25:1.01.30:1.0, and (ii) for a Variable Rate Loan, an Amortizing DCR of 1.05:1.0. The Loan Amount for Cash Out Refinance Loans will not exceed the amount that produces: (i) for a Fixed Rate Loan or Fixed to Float Loan, an Amortizing DCR of 1.30:1.01.35:1.0, and (ii) for a Variable Rate Loan, an Amortizing DCR of 1.10:1.0.