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Updated almost 3 years ago on . Most recent reply

Jay Smith's profile image
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Jay Smith
  • Member since Feb 25, 2020
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Jay Smith's profile image
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Jay Smith
  • Member since Feb 25, 2020
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Jay Smith
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Looking for debt service loan

Jay Smith
Posted

Hello, I’m finishing up on a property and will be ready to refinance the property to pull my investment out. Originally I was going to do a cash out refi with the loan officer at a local bank, but I found out about lenders that will loan money base off the operational income of the property. Do anyone know or are lenders in Michigan the do “debt service loans” 

  • Jay Smith
    • Detroit, Michigan
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    Jack Mawer's profile image
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    Jack Mawer
    • Lender
    • Member since Jun 22, 2022
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    Jack Mawer
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    Jack Mawer
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    Jack Mawer
    • Lender
    Replied

    Jay, good call on a DSCR loan. Are you set on a lender that is local to Michigan?

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