Nashville is the market where standard underwriting most often falls over. Higher price points, a lot of condos, a lot of self-employed income, and a lot of investors — four things banks are collectively bad at.
Working across East Nashville, The Nations, 12 South, Germantown, Donelson / Hermitage, Antioch and the rest of Davidson County.
Condos are a financing question, not a property question
Whether a Nashville condo is financeable has less to do with the unit than with the building. Owner-occupancy ratios, the reserve fund, the share held by any single investor, pending litigation — any of these can make a building non-warrantable, meaning conventional financing simply will not go there. Buyers find this out late and lose contracts over it. There are lenders who write non-warrantable condo loans; the trick is knowing which, before you write the offer rather than after.
Self-employed and investor income is the norm here
In a city built on music, hospitality and small business, a great many buyers have income that a W-2 underwriter cannot read. That is what bank statement lending is for — qualifying on twelve or twenty-four months of deposits instead of tax returns that legitimately understate what you earn. For rental purchases, DSCR lending skips personal income entirely and qualifies the property on its rent, and it will close in an LLC, which conventional financing will not.
We do not run a storefront in Nashville. We come to you, and most of the process happens by
phone, text and e-sign, which is faster than driving somewhere to sign paper. What you get
instead of a lobby is both of our mobile numbers, from the first call through closing.
Tyler McCain is based in Lebanon, TN and is licensed in Alabama, Florida, Kentucky, Ohio, Tennessee and Texas.
Let's see where you stand in Nashville.
Two minutes, no credit pull, no documents. Then a real conversation about what it
actually means for the house you are looking at.
