Rate and term DSCR refinance with 625 FICO

Evansville, IndianaHaveFinancingRefinance
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Rate and term DSCR refinance with 625 FICO

Member since 2024 · 30 posts · 18 votes

Indiana, considered rural by some lenders. Currently on a fix and flip loan that ends in April.

Would like to do rate and term dscr 30 year or cash out

Purchase price: $192,000

Original Purchase date: 9,13,24

Amount of rehab money spent: $20,000

Amount Owed on the property: $201,500

Current Value: $315,000

Any additional rehab money needed ($): No

If additional rehab is needed, new ARV: None

Desired **** amount: Rate and term

Number of Units: 3

Current Rental Income: $855, $855, $1200

Market Rental Income: $2910

FICO score: 628

Annual taxes: $3000

Annual insurance cost: $1700

Annual HOA: None

Est Cash on hand (bank accts, stocks, retirement, etc): $15,000

Number of purchases in the last 3 years: 4

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  • Lender · United States · Member since 2020 · 1k+ posts · 499 votes
    1y

    I have lenders that'll allow you to add someone for credit benefit. The loan won't be reported on credit and it's a soft credit pull.

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