I am having trouble finding a good DSCR lender

[Sean Gammons]

Hi yell, I have been using the biggerpockets lender finder and haven't had much luck if anyone can recommend a good DSCR lender with rates below 7% and reasonable fees I would appreciate it because I am not having any luck thank you so much!

[Patrick Roberts]

Not trying to be mean, but "competitive terms and pricing" is boilerplate language. That can mean anything. I dont know what your expectations are, but for reference, any DSCR loan is going to have anywhere from $1,500 to $2,500 in fees, and there will likely be some combination of points along with that depending on the prepayment penalty and loan specs. The rate and points will also be highly sensitive to the LTV, credit score, DSC ratio, loan purpose, loan size, and property type.

The majority of quality lenders are all going to have terms that are in the same ballpark. My recommendation would be to focus on identifying 2-3 lenders or brokers who are reputable, knowledgeable, and responsive. Complete an app and get quotes from all three. If the quotes are pretty similar, then this is where your loan is ultimately going to fall. There are quite a few reputable lenders (but not all) who are active on BP, which you said you've checked into. If youve already done this and feel that everything youre seeing is too expensive, then your expectations are out of market and unrealistic.

Beware the cheap, cut-rate lenders that offer terms that are far below market. If you go down this road, youre asking for trouble. There's good, fast, and cheap - you can have any two of the three. If youre looking for all three, youre looking for a unicorn.