DSCR Loan Recommendations

[Rob Burgess]

Looking to go the BRRR route to expand my portfolio. Looking for recommendations on reputable firms to work with for DSCR loans.

[Mark Munson]

Hi @Rob Burgess

      Feel free to message me, I can give you some options. Just make sure you are asking every lender the following:

1. What is your rate lock policy? Ideally, you want a 45 day rate lock

2. What is your DSCR requirement? Basically, you are wanting to know what ratio they use, as this will dictate the loan amount. 

3. Do you offer cash-out refinances up to 75% LTV? This should be the standard max. 

There's a host of other questions I'd ask, but this is a good start. 

[Devin Peterson]

Quote from @Rob Burgess:

Looking to go the BRRR route to expand my portfolio. Looking for recommendations on reputable firms to work with for DSCR loans.

Hi Rob! Great strategy - DSCR offers many different terms for investors. Speaking as an investor, I always like to look at where I want to get first. Usually, a goal NOI # in mind, something of that nature. Best dscr lenders will be the ones who respond quickest ;)

[Robin Simon]

Quote from @Mark Munson:

Hi @Rob Burgess

      Feel free to message me, I can give you some options. Just make sure you are asking every lender the following:

1. What is your rate lock policy? Ideally, you want a 45 day rate lock

2. What is your DSCR requirement? Basically, you are wanting to know what ratio they use, as this will dictate the loan amount. 

3. Do you offer cash-out refinances up to 75% LTV? This should be the standard max. 

There's a host of other questions I'd ask, but this is a good start. 

I would chime in that for BRRRR DSCR refinances, best typically to go to a DSCR lender that also does hard money bridge loans, as they tend to have the best expertise with BRRRR since they do loans for both the "B" and the third "R" in the process

[Dominic Pizzi]

Hey Rob! Send me a PM!

[Brandon Beardt]

Quote from @Rob Burgess:

Looking to go the BRRR route to expand my portfolio. Looking for recommendations on reputable firms to work with for DSCR loans.

 Hi Rob,

I'd say do some research on lenders in the Network tab above. Look at different company reviews and testimonials that actually come from people here on Bigger Pockets to get a better idea of what to expect from them. Thankfully for you, there are a ton of brokers/lenders that can help you with DSCR, but not all of them are able to help you succeed and meet your goals. Best of luck to you!

[Erik Bergerud]

Quote from @Dominic Pizzi:

Hey Rob! Send me a PM!

hey Dominic. I'm interested in chatting with DSCR lenders. Looking to expand my long term holdings

[Chris Kendrick]

What difference in dscr and conventional,  still got to put 20 percent down, will monthly payment be cheaper on dscr

[Vanessa Hernandez]

Quote from @Chris Kendrick:

What difference in dscr and conventional,  still got to put 20 percent down, will monthly payment be cheaper on dscr

Different guidelines must be met for dscr and conv, like different reserve requirements as an example. The 20% in conv is to avoid an extra fee because the down payment can be lower vs the 20% in a dscr is the regular down payment and cannot be lower.

More goes into it but those are a few differences to take note of. 

What are your real estate goals? What made you decide today was the day to ask about dscr vs conv?