DSCR loan product recommendation
Any recommendation of a lender that takes 15% DP and 85% LTV with DSCR loan product???
We can go as high as that where I'm at, but it also depends on some factors with the borrower and the property in question. Would need to take a deeper look.
Quote from @Jay Soriano:
Any recommendation of a lender that takes 15% DP and 85% LTV with DSCR loan product???
Yep! We have a few programs that allow for 15% down. Rates are higher than 80% LTV though!!
A couple programs require RE investing experience but one in particular does not. Happy to provide more info if it's helpful!
- 262.955.5168
- https://barrettfinancial.com/lzwirlein
- [email protected]
Hi Jay —
There are a couple of lenders out there that will do 85% LTV. Keep in mind the higher the LTV, the higher the FICO requirements and the higher the rate in most cases. Feel free to shoot me a message if you‘d like to discuss further.
-
Broker Ohio (#NMLS 2339224)
- Barrett Financial Group, L.L.C.
- 330-354-6590
- [email protected]
Quote from @Lyndsay Zwirlein:
Quote from @Jay Soriano:
Any recommendation of a lender that takes 15% DP and 85% LTV with DSCR loan product???
Yep! We have a few programs that allow for 15% down. Rates are higher than 80% LTV though!!
A couple programs require RE investing experience but one in particular does not. Happy to provide more info if it's helpful!
I shoot you an email.
Quote from @Jay Soriano:Yes, happy to connect
Any recommendation of a lender that takes 15% DP and 85% LTV with DSCR loan product???
- Investor
- Austin, TX
- 5,507
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Just make sure who ever you go with can actually honor it. Many times lenders will tell you what you want to hear till the last day
Please everyone here share your contact information.
I'm still in search of a good broker that has national lenders and is well versed in different types of loans and doesn't just represent one or two national lenders but has DSCR,Conventional,etc. lenders they can leverage.
Quote from @Jason Bobby:
Please everyone here share your contact information.
I'm still in search of a good broker that has national lenders and is well versed in different types of loans and doesn't just represent one or two national lenders but has DSCR,Conventional,etc. lenders they can leverage.
Hey Jason! I am a loan originator for a mortgage brokerage that operates in 49 states. Over 70 wholesale lenders. Conventional, non-qm, etc. Happy to help if you're still looking. I'll send you a message.
- 262.955.5168
- https://barrettfinancial.com/lzwirlein
- [email protected]
There are a few left out there who will lend on appraised value versus purchase price. I just closed on a purchase two weeks ago where the investor only had to bring 12% down since he got such a great price and the appraisal was higher than the purchase price. 6.75% interest on a 5/1 ARM too. Rates have gone up since that one was locked but they are still lending based from Value, with restrictions of course.
Cheers!
Quote from @Eliott Elias:
Just make sure who ever you go with can actually honor it. Many times lenders will tell you what you want to hear till the last day
yup. I have experienced this from my last transaction. It was bad.
Don't know if you got the help you needed on this one or not. But if you still need help, reach out.
Cheers!
Does anyone know of a DSCR lender that allows for a seller-carry second?
- Washington, DC Mortgage Lender/Broker
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Quote from @Krystan Keyes:
Does anyone know of a DSCR lender that allows for a seller-carry second?
We do. Up to 90% cltv
PM me
-
Broker
- US Commercial
@Jay Soriano
What type of property are you looking to finance?
Quote from @Brittany Minocchi:What are your DSCR 30yr LTV, cash out LTV and minimum loan amount? do you lend in Houston?
Hi Jay —
There are a couple of lenders out there that will do 85% LTV. Keep in mind the higher the LTV, the higher the FICO requirements and the higher the rate in most cases. Feel free to shoot me a message if you‘d like to discuss further.
Quote from @Nick Belsky:
There are a few left out there who will lend on appraised value versus purchase price. I just closed on a purchase two weeks ago where the investor only had to bring 12% down since he got such a great price and the appraisal was higher than the purchase price. 6.75% interest on a 5/1 ARM too. Rates have gone up since that one was locked but they are still lending based from Value, with restrictions of course.
Cheers!
Please let’s talk about how we can help each other. 512-658-5117. [email protected]
Quote from @Xavier Aliche:Yes to Houston, I have one lender with a minimum of $75k but most others are $100k+. As far as LTV, it depends on FICO, property type, loan amount, ratio, etc. I’ve seen anywhere from 60-85% depending on the property and borrower.
Quote from @Brittany Minocchi:What are your DSCR 30yr LTV, cash out LTV and minimum loan amount? do you lend in Houston?
Hi Jay —
There are a couple of lenders out there that will do 85% LTV. Keep in mind the higher the LTV, the higher the FICO requirements and the higher the rate in most cases. Feel free to shoot me a message if you‘d like to discuss further.
-
Broker Ohio (#NMLS 2339224)
- Barrett Financial Group, L.L.C.
- 330-354-6590
- [email protected]