Updated 4 months ago on . Most recent reply
DSCR Quotes Help me
I have a paid off condo with a tenant in there. Ratio is 1.36. My credit score is 740. Condo is worth $115k, LTV of 75% gives me a loan amount of $86,250. I bought it 1.5 years ago it was my first property. Looking to get the funds to put towards other properties. DSCR quotes I have been getting are kind of iffy.
American Heritage Lending (Direct Lender) - 8.25% after buy down from 9.5%, $2300 buy down, $2300 other fees (Appraisal, title, underwriting) . No PPP. Total closing: $4600, getting a loan estimate with a locked rate soon
Bridget Brick - 7.625% No buy down, $2600 Origination, $1995 underwriting, $3000 other fees, Total closing: $7900, wont give me a loan estimate with a locked rate
What do you guys think? Are these quotes reasonable and which would you guys go with? Anybody got any good lenders?