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Updated about 2 years ago on . Most recent reply
DSCR Lender - Chicago - (2) units in Grand Crossing
Hey Chicago real estate friends!
I am looking for a refinance loan at 80% LTV or higher with a lender that will use the income approach (aka DSCR loan) on (2) 2-units. Both buildings are fully occupied with great section 8 tenants.
Any local or out-of Illinois lenders that would be a good fit? I am less concerned with interest rate and more concerned with money left in the deal.
- Jonathan Klemm
- [email protected]
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Robin Simon
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
Pro Member
#3 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
Is the 80% a cash-out or would it be a rate-term refi (receive $2,000 or less at closing)?