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Updated over 2 years ago on . Most recent reply

Howard VanBuren's profile image
Howard VanBuren's profile image
Howard VanBuren
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Howard VanBuren
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Howard VanBuren
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Refi on investment property

Howard VanBuren
Posted

Looking for a good company to refinance one of my investment properties in the Philly area. This will be my first time doing a refi as a new investor. Any companies or suggestions are welcome. Thanks in advance.

Philadelphia, Pennsylvania
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Jack Mawer's profile image
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Jack Mawer
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  • Member since Jun 22, 2022
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Jack Mawer's profile image
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Jack Mawer
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Jack Mawer
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Jack Mawer
  • Lender
Replied

Are you clear on what type of financing you are looking to obtain? If you are looking to refinance a rental property and want a simple process, I would highly recommend using a DSCR (Debt Service Coverage Ratio) loan. This will solely look at your FICO score as well as the property cash flow (asset-based lending) and allow you to scale your portfolio as your DTI will not take a hit.

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