All Forum Posts by: Tarik Turner

Keep making the phone calls and try non traditional lenders they tend to have more flexible seasoning periods 

Are you looking for a loan for an investment property or your primary? 

There are LOC products that are bank statement based and there are Loans for non owner occupied properties that are stated income based

If you are not stuck on the ideal rates understanding that you are not in an ideal situation there will be a ton of solutions out there. Portfolio lenders do not concern themselves with DTI and there are some that can go up to 80% LTV on purchases but the rates would be in that 6% to 7% range depending on the details of the deals

6 to 12 months is pretty standard however there are options for cash out refi's much sooner based on the appraised value. Keep shopping around.

What are the value of the properties? there are a ton of loan options out there for out of state investors but the issue is not all have a taste for MI. If the properties have a decent value it may work

Not knowing all of the details of your deal but most portfolio lenders/ NON QM lenders will be around that 6.5% range at 65% LTV

 Mainly because the foum doesn't allow you to give quotes or offer products on the public platform.

Feel free to ask me anything you may have on your mind however.

70% is common however 75% of the appraised value is probably going to be your high water mark.

D.M sent

First and foremost those SBA Loans can be pretty hard to get out of especially when multiple properties are tied into them. Brokers can make loans more expensive but not always most lenders offer brokers special programs that allow them to keep the points on the loan reasonable (The rate and terms you were offered seems more than fair and of course your broker should get paid for their services. The Credit Check and appraisal is going to be standard no matter where you go and of course there should be a fee for the appraisal