Looking for a DSCR lender with quotes

[Jane Ho]

Hi, someone said I shall post this here instead of at the lender section....

I planning on buying a 4units multifamily by end of this month. Purchase price will be around 1.5-1.075M, 25% down, 740+ credit score, haven't decided vest in person or LLC will decide later. 1 unit rented at $983 (below market), 3 vacant units, based on market, estimate, $2500, $2500, and $1400. If you are interested, please contact me with your fees and rates. The property is in the city of Sacramento. I am not sure about insurance cost on this. Thank you very much!!!!

[Erik Estrada]

Quote from @Jane Ho:

Quote from @Jane Ho:

Hi, someone said I shall post this here instead of at the lender section....

I planning on buying a 4units multifamily by end of this month. Purchase price will be around 1.5-1.075M, 25% down, 740+ credit score, haven't decided vest in person or LLC will decide later. 1 unit rented at $983 (below market), 3 vacant units, based on market, estimate, $2500, $2500, and $1400. If you are interested, please contact me with your fees and rates. The property is in the city of Sacramento. I am not sure about insurance cost on this. Thank you very much!!!!

Thank you everyone. I received a lot of messages asking for connecting or stating can help.....but....there is ONLY 1 person, who sent me directly what I need, a detailed information about rates, closing cost, and thats whom I am going to work with.  I give all the details up front because this is what I want. Thank you so much! 

 That's good to hear. 

The DSCR might be impacted without knowing the insurance and prepay. There is a pricing difference at a 1.00 compared to a 1.25 and it can be as much as a .50 percent difference in pricing. DSCR loans also carry prepayment penalties, and depending on the structure, can also significantly impact pricing. a 3 year PPP will be a lot different than a 5 year PPP.

With those items in mind, I think you should still give other posters and lenders a shot. Just because they didn't give you fees and rates, doesn't automatically disqualify them as a competitively priced lender. 

I know for me, I need to know the FULL scenario before I give a quote. I need to know experience, prepay, is the property legal/conforming?, Is it in a rural area?, acreage, unit square footage size, loan term (30 year or ARM?), taxes and insurance, any point buydowns, or no points.

It's important to know everything upfront, so I don't quote you something I cannot deliver. There are a lot of variables that affect the rate and loan terms other than credit and LTV.

I know other lenders have a different stance on this, and will give you attractive terms and switch them on you before you close (very common on purchases). 

Hopefully you can keep your options open, and see what everyone has to offer :)