Updated about 2 years ago on . Most recent reply
Having trouble finding a lender that can meet my needs for DSCR
First off, I am a new investor so don't assume something is obvious as I probably don't know about it yet. I am trying to buy a 1952 12-plex. Seller wants 1.3 million I would suggest 900k but I can't find a loan that has a long term lower interest and lower down. I was quoted 75% coverage ( 25% down) up to 20 year term and 7.95 - 8.95 interest
I was hoping for 20% or less for a down on a 30 year and of course as low an interest rate as possible. Any ideas? I would appreciate it.
Most Popular Reply
Agreed, this product does not exist. The closest you can get is raising some private money to plug the 5% difference you're after.