First DSCR Cash Out Refi On Rental Property

Most Popular Reply

Mike GrudzienPro Member
Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
7mo

Just a thought, but it would help if you completed your sentences and punctuation...

2Reply
See this reply in the discussion

7 Replies

Jump to latestLatest
  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    7mo

    Just a thought, but it would help if you completed your sentences and punctuation...

    2Reply
  • Adrian Johnson
    OP
    Member since 2022 · 54 posts · 6 votes
    7mo

    Yes and thanks Mike! Im pleased with any response and confirms you read it. Im excited about the next venture. Milwaukee Wi has some great opportunities as the market is. Interested in the midwest, or know of reputable lenders?

    Thanks again

    1Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    7mo

    @Adrian Johnson welcome to BP.  I have used both Lima One and Dominion Financial. They are both national lenders.

    1Reply
  • Matthew Bernal
    Investor · Austin, TX · Member since 2021 · 497 posts · 127 votes
    7mo

    Milwaukee DSCR at sub-600 — that's a tough profile to place but clearly not impossible at the right LTV. Launch and Velocity both work that end of the credit spectrum with enough equity cushion.

    If you're looking at more rentals in the same market, a few things that'll determine your options: whether your score has moved at all since that last close, what the DSCR ratio looks like on the next property, and whether you're open to staying in that 50% LTV range or need higher leverage.

    I do DSCR lending nationwide — shoot me the basics on the next deal and I can tell you quickly whether I can match what you got or do better.

    What's the rough profile on the next property you're looking at?

    1Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    6mo
    Quote from @Adrian Johnson:

    Thanks Robert Kiyosaki and Bigger Pockets im GoingPro. Launch Financial Group have serviced the DSCR for a Milwaukee rental with Score lower than 600 at 50% ltv! Any other reputable brokers or lenders like velocity servicin the milwaukee are


    Forward lending also offers the sub 600 FICO DSCR loan at 50 LTV.

    [email protected]818-269-7983
    LuxePrivate Investments LLC 570 Reviews
    WebsiteView Page
    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free