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Logan Weber
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Need a DSCR lender ASAP, please help!

Logan Weber
Posted

Hi all,

Ive come across a good deal I was hoping to put an offer in on tomorrow and am wanting to do a DSCR loan if possible. The property is in Kentucky and is less than $100k (I read this could cause some issues with some lenders). It's being sold under market value and I'd be walking into $30k+ in equity instantly. The DSCR ratio on this deal is around 2.0, potentially higher. Looking to connect with a lender who would be able to help me with this deal, if you or a lender you know could help me with this please reach out asap, if I don't answer tonight I will get back with you in the morning.

Thank you all for any help!

  • Logan Weber
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    Chris Seveney
    • Investor
    • VA
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    Chris Seveney
    • Investor
    • VA
    ModeratorReplied
    Just be advised that rven though it has equity you still will need to put 20-25% down payment. Is it already rented as well? If not then go bridge financing to get it stabilized to a DSCR
    • Chris Seveney
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