DSCR Loan Closed - No Points or Prepayment Penalty

[Nicola Mislinski]

Just recently closed on a DSCR rate-and-term refinance at 7.375% with no prepayment penalty, while also securing a homeowners insurance policy at $915 annually. This transaction reduced the client's mortgage payment by approximately $1,700 per month, with an additional $360 per month in savings from the new insurance policy—totaling more than $2,000 in monthly savings. The loan was structured with no points and included a $5,000 lender credit, which covered all title fees, appraisal costs, and other closing expenses. These deals are few in between but are incredibly impactful to get completed.