DSCR on Student College Rental in California
Hi all, I'm looking for a lender to help Refinance a property in Central California. Property is a A class student rental approximately 5 min walk from one of the largest city colleges in California (SBCC) and Near UC Santa Barbara. What makes this property creative it that it is a very Large single family home, all with private separate entries, accredited as student housing by the college.
Looking to do a DSCR loan as the monthly income is around $35,000. I had reached out to Civic for a loan, but they have put a moratorium on creating Loans after the acting president left. Looking for a referral for a good lender that will work with us to provide a long term DSCR IO for the property.