Updated almost 3 years ago on . Most recent reply
Looking for help with different loans
Hey everyone, my boyfriend and I recently got into real estate investing. We bought our first primary residence near Nashville, TN in 2021 with a conventional 5% down loan which is currently a furnished rental. We bought our second primary residence near Jacksonville, FL last year with his VA loan. We also purchased a duplex in Pensacola, FL last year strictly as a rental with a 25% down investment loan. We are getting ready to start looking for our next SFH in Jacksonville. I am just wondering if someone has recommendations for different types of loans. I have briefly heard of DSCR, bank statement loans, and hard money lenders. Just wondering if anyone has used these and if so who they have gone through. Thanks in advance!
Most Popular Reply
@Jasmine Vida All good info above but the benefits of DSCR lending is the process is much simpler. Rates are very close, albeit higher, than conventional but the ease of use and less paperwork is one of the selling points. You can also vest in an LLC, something conventional lending does not allow at closing. Something to consider when doing an apples-to-apples comparison.