I can't get a DSCR loan

[Becky Hoffman]

I am ready to refinance one of my rentals to pay off the private lender loan I used to purchase it. ($85k) The ONLY thing preventing the loans from being accepted is the square footage of the house. (500 sf) Everything else about the house passes with flying colors! Does anyone have a suggestion on how I can work around this issue?!

[Mark Munson]

Hi @Becky Hoffman

As others have said, the typical minimum is 600 sqft, but there are certainly lenders out there doing less. Also, you can seek an exception from most DSCR lenders and they get approved at a high rate, it will just come with an increased origination fee (usually .5% for exceptions) or a interest rate add on.