National lenders visio lending feedback

8 Replies

@Ryan Keenan ...I have experience from a broker side using Visio as a lender for some of my clients. Since they pretty much specialize in only DSCR investor loans, I think they're good at what they do. They aren't the cheapest from both origination and rates, but their process is super simple and as long as you know what you need to provide it's easy. The other thing that they do niche is they don't require ownership of primary residence; they don't verify other property ownership; they will consider AirBnb/STR, their seasoning is really light, and they don't source/season reserves (real time verification).

@Ryan Keenan ...It depends on adjustment factors, but on a baseline, at highest fico tier and LTVs, they can be in the high 5s through high 6s.  This also ranges with debt service coverage.  Are you looking for something specifically? 

I just closed with visio yesterday on a refinance and the rate was 6.25 for 30 yr fixed, 5 year prepayment penalty, and about 4k in closing costs.  Was pretty painless process but the only downside was the the house didnt appraise (appraisal was $500) to what we wanted it to.  We wanted it to appraise at 150k, but it appraised at 123k.   I would definitely work with them again but the high interest rate makes me want to look elsewhere.