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Updated over 1 year ago on . Most recent reply

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43
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Hitanshu Shah
  • Investor
  • Monsey, NY
12
Votes |
43
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Under Contract - Finance options on a 4-plex

Hitanshu Shah
  • Investor
  • Monsey, NY
Posted

Hi All

We are under contract on a 4-plex and I am shopping for Loan options. The purchase price is $415 K and we can put 20% to 25% down. Few brokers have recommended a 5 year Balloon loan but I want to explore the best option available in the market currently. 

Thanks

Most Popular Reply

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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
4,423
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4,576
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied
Quote from @Erik Estrada:
Quote from @Hitanshu Shah:

Hi All

We are under contract on a 4-plex and I am shopping for Loan options. The purchase price is $415 K and we can put 20% to 25% down. Few brokers have recommended a 5 year Balloon loan but I want to explore the best option available in the market currently. 

Thanks


If this is an investment property you can get a DSCR loan on a 30 year fixed rate (no balloon).


Sharing more on DSCR Loans, which sound like a good option for your situation!

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  • Robin Simon
  • [email protected]
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