Need a DSCR lender ASAP, please help!
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!
Most Popular Reply
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
7e investments
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