DSCR Loan- Multiuse Property

[Joel Diaz De La Rosa]

Does anyone know of a good lender that offers DSCR Loans for a multiuse property in Wisconsin. I'm looking to do a cash out refinance on a 2 unit property. 50% residential/50% commercial. I bought it for $71,000 and is now worth $193,000. The lender that currently approved me seemed overpriced (High Fees & Interest Rate). Attached is a photo of the offer. Is this exaggerated? My credit score around 746.

[Erik Estrada]

Quote from @Joel Diaz De La Rosa:

Does anyone know of a good lender that offers DSCR Loans for a multiuse property in Wisconsin. I'm looking to do a cash out refinance on a 2 unit property. 50% residential/50% commercial. I bought it for $71,000 and is now worth $193,000. The lender that currently approved me seemed overpriced (High Fees & Interest Rate). Attached is a photo of the offer. Is this exaggerated? My credit score around 746.

The problem is many DSCR lenders do not finance these property types. There are a handful, however they charge a premium.

Do not get strung along with any broker or lender promising nice terms on this property type. Make sure you ask all the right questions or risk paying a heft appraisal fee with no loan closed. 

Since the make is 50/50, you will need to finance this with a local commercial bank or a non-traditional commercial lender. It may be best to go local on this, but if it's simply not possible, try a non-traditional commercial lender.

Are both units occupied or vacant?  What is the commercial use?