DSCR loans for wrap mortgages

[Sam Tright]

Hi, I have a house bought with hard money. I would like to resell it on a wrap and clear out the hard money debt with a DSCR loan

1. Ideally this happens without any seasoning/payment history period, since I am reselling the house and lose title upon sale. Is this possible? If not I can resell on a land contract so I retain the deed.

2. I sell for about 70% above my all in cost, eg purchase plus light reno totals 70k, I resell for 120k. If the appraisal supports the higher resale price am I likely to get my full cash out of the deal?

3. If anyone has some wrap friendly DSCR lenders in mind please let me know, thanks!

[Eliott Elias]

No lender allows a wrap. You are at risk of the lender calling the note due. They are the last person you want to tell that you are executing a wrap.