Legal & Regulatory Information
Licensing & Disclosures
Simple DSCR provides business-purpose real estate financing through WooHoo Mortgage LLC. Licensing requirements and permitted lending activities vary by state, property type, loan purpose, and transaction structure.
Company Information
Trade Name
Simple DSCR
An assumed business name of WooHoo Mortgage LLC
Verify licensing information through NMLS Consumer Access.
View NMLS Consumer AccessPrincipal Licensing Disclosure
Business-Purpose Lending & Licensing
Simple DSCR is an assumed business name of WooHoo Mortgage LLC, NMLS #2347993. Simple DSCR offers business-purpose real estate financing only in jurisdictions where WooHoo Mortgage LLC is appropriately licensed, registered, or where the applicable activity may lawfully be conducted without an additional mortgage lender, broker, or loan originator license.
Licensing requirements and permitted activities vary by state and may depend on factors including the loan purpose, property type, number of units, occupancy, borrower type, lien position, loan structure, and whether the transaction is considered primarily for business, commercial, investment, personal, family, or household purposes.
Loan programs are offered only where permitted by applicable law and applicable lender or investor guidelines. Not all products are available in all states.
Business-Purpose Loans
Business-purpose loans offered through Simple DSCR are intended primarily for investment, commercial, or other bona fide business purposes.
Unless otherwise expressly permitted under applicable law and offered through an appropriately licensed channel, Simple DSCR business-purpose loan programs are not intended for the purchase, refinance, construction, improvement, or financing of property primarily for personal, family, or household use.
A property securing a business-purpose loan may be residential in physical form while the underlying credit transaction is for an investment or business purpose. The legal classification and licensing requirements applicable to each transaction may vary by jurisdiction.
Owner-Occupied and Consumer-Purpose Transactions
Simple DSCR's business-purpose lending programs are generally intended for non-owner-occupied investment and business-purpose transactions.
A borrower should not represent a consumer-purpose or owner-occupied transaction as a business-purpose transaction in order to obtain financing.
If a transaction involves a primary residence, second home, personal occupancy, or another personal, family, or household purpose, additional consumer mortgage licensing, disclosures, underwriting requirements, and consumer protections may apply.
Simple DSCR will only offer such financing where WooHoo Mortgage LLC is appropriately authorized to do so.
State Availability
Where Financing May Be Available
Simple DSCR offers business-purpose financing in states where WooHoo Mortgage LLC is appropriately licensed, registered, or where the applicable business-purpose lending activity may otherwise be legally conducted.
Availability varies by state, loan type, property, borrower, occupancy, and transaction structure.
States Available with Business Entity Title Vesting Only
In the following states, applicable business-purpose financing is available only when title is vested in an eligible business entity:
- FloridaBusiness Entity Title Vesting Only
- MontanaBusiness Entity Title Vesting Only
- New JerseyBusiness Entity Title Vesting Only
- VirginiaBusiness Entity Title Vesting Only
Important State Availability Information
State availability and program requirements vary by jurisdiction and transaction. In certain states, including Florida, Montana, New Jersey, and Virginia, applicable business-purpose financing is available only when title is vested in an eligible business entity. A state shown as available does not mean that every borrower, property, loan program, vesting structure, or transaction type is permitted or eligible.
All financing is subject to applicable federal and state law, licensing and registration requirements, loan program guidelines, underwriting, property eligibility, borrower eligibility, title and vesting requirements, and investor guidelines.
State availability and program requirements may change without notice.
Additional Disclosures
Debt Service Coverage Ratio (DSCR) loan programs are generally business-purpose financing programs designed for qualifying investment properties.
Certain DSCR programs may evaluate qualifying rental income and property expenses rather than relying primarily on traditional employment or W-2 income when determining loan eligibility.
DSCR calculation methods, minimum ratios, documentation requirements, credit requirements, loan-to-value limits, reserves, appraisal requirements, rental income treatment, and other underwriting guidelines vary by program and lender.
A DSCR calculation displayed on this website is an estimate only and does not constitute approval, qualification, a loan offer, or a commitment to lend.
Information contained on this website is for general informational and marketing purposes only.
- a commitment to lend
- an approval
- a preapproval
- a guaranteed interest rate
- a guaranteed loan amount
- a guaranteed closing
- legal advice
- tax advice
- investment advice
Interest rates, loan amounts, loan-to-value limits, fees, points, prepayment provisions, amortization terms, reserve requirements, credit requirements, and other loan terms are subject to change without notice.
Any examples shown on this website are illustrative only unless specifically identified as a formal loan quote.
Not all applicants will qualify for all programs or terms.
Rental income, market rent, property value, estimated expenses, taxes, insurance, HOA dues, vacancy assumptions, and other property information entered into Simple DSCR calculators or scenario tools are estimates unless independently verified.
Actual underwriting calculations may differ from website estimates.
WooHoo Mortgage LLC is committed to conducting lending activities in accordance with applicable federal and state fair lending and anti-discrimination laws.
Credit decisions and loan availability will not be based on prohibited discriminatory factors.
Some financing programs may be funded, underwritten, purchased, or provided by third-party lenders, financial institutions, private lenders, investors, or capital providers.
Program availability, underwriting guidelines, pricing, closing requirements, and eligibility may therefore vary by funding source.
Mortgage, lending, commercial finance, business-purpose lending, and real estate finance laws are subject to change.
Simple DSCR and WooHoo Mortgage LLC reserve the right to restrict, suspend, or discontinue loan programs or lending activity in any jurisdiction when required by applicable law, licensing requirements, regulatory guidance, investor requirements, or company policy.
Questions About Licensing?
For questions regarding licensing or whether a particular loan program is available in your state, contact Simple DSCR before relying on website information.
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