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Updated over 1 year ago on . Most recent reply

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DSCR Lender Suggestions?

Robert Rutledge
Posted

I've been in touch with a lender for a DSCR cash out throughout the rehab process on a purchase through an LLC.
We are now ready to move forward, but the terms have now changed.
Before proceeding, I wanted to check in on here and see if there's any suggestions of lenders people have had a good experience with.

Details:
- MFH
- Memphis, TN
- DSCR ~1.5
- Est. Appraised Value = $180k

Being offered 70% LTV cash out at 7.5% and 2% origination for 30 year fixed, with a 5yr. prepayment penalty structure.

We have not completed one of these loans yet, so trying to learn as much as I can - any help/insight is greatly appreciated!

Most Popular Reply

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203
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Ryan Stuckey
  • Lender
136
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203
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Ryan Stuckey
  • Lender
Replied

That's pretty fair and reasonable with the current market...that's right where we are at nowadays on that kind of property profile (and with good personal credit).

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