Looking for referrals of DSCR lenders
I have a few years of real estate experience with 1 primary residence in PA and 11 rental units in DE. Over the years (when the price and interest was still low), my wife and I only used conventional loans. Now, we want to switch to commercial loans to get more flexibility. We have about $1.95 millions of equity. We think we can get some decent size of HELOC and use cash offer to win some bids. Then, with little rehab work (we don't have much experience so we don't have large rehab work), we can refi with DSCR loans.
Question: can anyone refer us some good lenders for the loan we are looking for? Is there any other suggestions on our strategy?
Most Popular Reply
Hi Tianyi,
In terms of the rehab money, you could go about this in a couple of ways - use cash, bridge loan, cash out refinance or HELOCs.
More than happy to connect and answer any questions.