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Updated 11 months ago on . Most recent reply

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Tel Cyg
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Looking for a DSCR loan provider

Tel Cyg
Posted

Hi all,

This is my first post! I am a first time home buyer looking to purchase an out of state investment property through a newly formed LLC (I am based in NYC, looking to buy in Ohio). I am specifically looking to rent out to section 8. I have a high credit score, good income, and money in the bank, but I have been having a difficult time finding a DSCR lender I feel like I can trust. I'd really prefer to hear from those that have gone through a similar process as me and get recommendations for lenders to look into? I would love to purchase ASAP but don't want to rush through this process especially since it is my first time. The purchase price should be under 100k (around 80k or so) and I am not looking to put more than 20% down as I'd love to purchase more than one property this year.

Happy to provide any additional information. Please throw any advice / recommendations my way - I'd appreciate it so much! Thanks!

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3
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Tel Cyg
2
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3
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Tel Cyg
Replied

Hey, thanks for the reply! I currently do not own a primary residence nor any other type of property. Being that this property will be out of state (I live in NYC, property will be purchased in Ohio), I am hoping this should alleviate any concerns of me moving into the property haha!

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