All Forum Posts by: Anthony Jones

Hello everyone,

Currently as a recent graduate I do not have the W2 history to use conventional loans so my main focus has been DSCR loans.

I have the bank statements and reserves part of the loan process secured. My question relates to how realistic this loan would be for me. I've heard that for a first time home owner, the lender may: wait until you've occupied the home for 6-12 months before giving you the loan, increase the interest rate dramatically which may render this loan useless entirely if it means I wont cash flow on my property, and also increase my down payment therefore decreasing my LTV, which would also render this loan useless for me if I cant refinance to pay off my original lender.

First, I guess I'm wonder if the above statements are accurate and if so, what that means in terms of if I should pursue a DSCR loan?

If these things did happen to work out, could I take out a DSCR for the purchase, then another DSCR for the refinance and use it to pay off the original purchase DSCR?

Thank you in advance!

Anthony

I read somewhere that before be able to start to purchase a house and then go through the BRRR process, I first needed to have 2 years worth of W2 forms if I wanted to take out a loan and able to refinance after the seasoning period. Can anyone shed some more light on this?