Updated about 2 years ago on . Most recent reply
Have 2 SFH looking to Cash out refi (DSCR)
Hey everyone! Currently located in Mobile AL. I have 2 homes that I've rehabbed that I'd like to pull equity/initial investment out of and would prefer to go the DSCR route and shooting for 80% LTV and preferably no season period. My credit is 790+. I've owned house 1 for 3 months and house 2 for 5 months. Would love to work with a mortgage broker eager to get the job done and get me the best deal possible.
House 1: PP $143k, rehab $42k total investment $185k, ARV is $239k. (No mortgage) Rented for $2245.00
House 2: PP $145k, rehab $23k total investment $168k, ARV is $205k. (HELOQ @ $145k) Rented for $1745.00