Bridge loan 620 Fico

Steven Swanson
Lender · Member since 2024 · 40 posts · 4 votes
1y
Quote from @Rob Austin:

Look for a DSCR bridge loan on a fix and flip triplex
Its rented out already. 625 fico.
3 Units $855, $855, $1200
$201,500 owed, $320,000 value
75% LTV

Happy to connect
1 Reply
Zach Edelman
Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
1y
Is there no chance of you having a co-partner/co-sponsor on the loan? We need a 640 for cash-out refinances, but if we get this, can absolutely help you out!
0 Reply
- Rob Austin
  OP
  Member since 2024 · 34 posts · 18 votes
  1y
  Quote from @Zach Edelman:
  
  Is there no chance of you having a co-partner/co-sponsor on the loan? We need a 640 for cash-out refinances, but if we get this, can absolutely help you out!
  
  Our LLC has two members, one with 648 mid score and one with 628 mid score
  0 Reply
Mike Klarman
Specialist · NJ · Member since 2022 · 1k+ posts · 653 votes
1y
Never heard of a DSCR Bridge loan. They are two separate things. Are you looking to pick this triplex up first on a bridge loan with rehab and then refi out to a DSCR loan?
So the bridge loan will be based on the ARV of the triplex post rehab. You'll get 65% - 75% of that ARV as a max cap number, with your credit probably 65%. Inside that max loan subtract the rehab and what is left is the amount you can get toward the purchase.
0 Reply
- Rob Austin
  OP
  Member since 2024 · 34 posts · 18 votes
  1y
  Quote from @Mike Klarman:
  
  Never heard of a DSCR Bridge loan. They are two separate things. Are you looking to pick this triplex up first on a bridge loan with rehab and then refi out to a DSCR loan?
  So the bridge loan will be based on the ARV of the triplex post rehab. You'll get 65% - 75% of that ARV as a max cap number, with your credit probably 65%. Inside that max loan subtract the rehab and what is left is the amount you can get toward the purchase.
  
  It's on a fix and flip loan that ends in April.
  Need a no doc or asset based bridge loan
  1 Reply
Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
1y
You can do this on a rate and term refi, likely at 65 LTV.
[email protected]818-269-7983
LuxePrivate Investments LLC 572 Reviews
Website View Page
0 Reply
- Rob Austin
  OP
  Member since 2024 · 34 posts · 18 votes
  1y
  Quote from @Erik Estrada:
  
  You can do this on a rate and term refi, likely at 65 LTV.
  
  It's also Rural
  0 Reply
- Erik EstradaBusiness Member
  Lender · Member since 2022 · 6k+ posts · 1k+ votes
  1y
  Quote from @Rob Austin:
  
  Quote from @Erik Estrada:
  
  You can do this on a rate and term refi, likely at 65 LTV.
  
  It's also Rural
  
  Rural is usually at 65 LTV max. The lower credit score will also decrease the LTV. I would suggest getting your credit score to 660.
  [email protected]818-269-7983
  LuxePrivate Investments LLC 572 Reviews
  Website View Page
  0 Reply
Terry Savage
Member since 2025 · 37 posts · 3 votes
1y
Happy to review the details, let's connect!
Terry Savage
+1 406 261 0325
[email protected]
https://tlsfunding.com/
0 Reply
Mark Wright
Member since 2024 · 95 posts · 13 votes
1y
Quote from @Rob Austin:

Look for a DSCR bridge loan on a fix and flip triplex
Its rented out already. 625 fico.
3 Units $855, $855, $1200
$201,500 owed, $320,000 value
75% LTV

Hello Rob,
We do asset-based lending. Send me a message if you are interested so we can discuss further. Thank you!
0 Reply
Terry Savage
Member since 2025 · 37 posts · 3 votes
1y
I may be able to help, can you email the details?
Terry Savage
+1 406 261 0325
[email protected]
https://tlsfunding.com/
0 Reply

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