DSCR loan rate is high
Hello everyone.
looking for some advice. Found a property I like to make an offer on. Contacted local DSCR loan officer and was told the best rates would be 7.325% with 30% down and that's with two points. This seems high. When running numbers these property comes as negative flow. Anyone recently done DSCR and have any advice for me?
Most Popular Reply
Hello, The rate quoted is competitive in this market. As for the downpayment, the lender might be requiring more down in order to meet DSCR requirements.