High interest rate

[Kyle Keller]

I bought a house at the peak in December of 2022. I used a DSCR loan to get it done. 9.375% interest rate. I'm coming up on 2 years of income produced by the property, any suggestions on how to get a lower interest rate without using personal income?

[Carlos Valencia]

Hi Kyle, 

Yeah the only option is to refinance into another DSCR loan. Rates have improved for these loan products as well. Many lenders are at about low to high 7's. You can save a full 1% or more depending on your scenario. If you are self employed you can also look at bank statement loans assuming you have a business with high deposits. These product looks at your deposits from your business and calculates your income that way.

@Albert Bui