All Forum Posts by: Andrew Garcia

Hi @Frankie Azhocar, DSCR loans can be the best loan for investors. However, it really depends on your situation.

No one in this forum can tell you one loan is better than another without more information.

Pre-approvals are generally required for all loans. They typically last for 30 days and then you need to provide an updated bank statement and paystub.

Hope this helps! Let me know if I can be of any assistance.

Hi @Gilda L. Sauceda, try using the "Find an Agent" tool at the top of the screen.

That is the easiest way to get connected with an investor-friendly agent in your area.

Hope this helps! Let me know if I can be of any assistance.

Hi @Tyler Brungardt, every bank statement loan program that I have seen all require you to be self-employed for at least 2 years.

You might be able to go conventional with only one year of self-employed.

Otherwise, there are some non-QM products that allow you to get a loan without being self-employed for 2 years.

Hope this helps! Let me know if I can be of any assistance.

Hi @Matt Stewart, congratulations on doing so many deals! Having too many deals is not the worst problem to have.

I can refer you to a non-QM lender that does fix and flip funding if you would like. It is not hard money and is it not conventional.

Feel free to connect if you would like to exchange information.

Hi @Ardis Livingston, by federal law, the national lenders cannot make backroom deals for foreclosures.

They have to all go through the REO process. I would contact a specialist in your area for help with that.

It can certainly be a frustrating and long process.

Good luck! Let me know if I can be of any assistance.

Hi @Nader Hachem, for my clients, I tell them to assume the worst-case scenario. 

Rates will almost definitely drop below 5% in the next ten years but the deal has to make sense now because if rates continue to rise or stay steady, you will not be able to refinance into a lower rate.

Hope this helps and happy analyzing!

Hi @Michael White, it really depends on the interest on both loans.

I am assuming the HELOAN is for a 30-year term.

Since the difference in term is not that large, the interest rate will be the biggest factor.

If the interest rate is 9% on the HELOAN and 4% on the 401k loan, it's a no-brainer.

Hope this helps! Let me know if I can be of any assistance.

Hi @Eric Salgado, if you are looking for a DSCR cash-out refinance, I can refer you to a great lender.

Feel free to shoot me a message so that we can exchange information.

Looking forward to connecting!

Hi @Dylan Clay, there are no seller financing options since it is due within one year of the borrower dying.

However, they could do a gift of equity to you so that you are in the home for no money down.

Hope this helps! Let me know if I can be of any assistance.

Hi @Leah Ramsey, to start, I would recommend buying a primary residence with 3-5% down.

Live in the property for 1 year then you can use it as an air bnb and buy another primary residence with 5% down.

If you have enough to buy the primary residence and investment property for the STR, go for it. However, if you do not yet have a war chest, this would likely be the best route.

Hope this helps! Let me know if I can be of any assistance.