DSCR Success Stories

[Donna Rundo]

If you've used DSCR loans successfully, what made your experience positive?

[Erik Estrada]

It's a hit or miss with some lenders but the best capital sources I work with has an amazing rep and provides us with guidelines/resources to get deals closed. The worst ones usually don't have any clear cut guidelines (a lot of the underwriters will make up their own rules if they do not like the deal), Suck at communicating (will reply days later), Push aggressive terms to get deals in and then switch them, and Not really motivated to get things done (they will adverse a loan without any hesitation). 

On the broker side, I like having a little bit more control over the process like being able to talk to the UW, ordering appraisals through my AMC, and handling all third party communications.

But honestly with the private lenders, it is really just the rep you work with that makes a huge difference. When I first signed up with Kiavi as a broker, the rep I worked with sucked so I did not send them any of my business. Then I got a new rep and now I think it's one of the best lenders to work with.