All Forum Posts by: Brandon Croucier
Brandon Croucier has started 2 posts and replied 626 times.
Post: Cash out refi no mortgage on home
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Hi Jasmine,
A DSCR cash out refinance sounds like the best product for this.
You can vest in an LLC and most DSCR lenders do not report on your personal credit report!
Yes, you can do a cash out refinance on a property owned free & clear!
Post: DSCR Loan insight
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Theres plenty of good lenders on Bigger Pockets who do DSCR.
What information are you looking for?
Post: Using ALL your equity
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Nicholas said it best.
A DSCR product is what you are looking for.
DSCR simply doesn't take into account your personal income, instead we qualify the loan on the properties rental income (or projected rental income).
Your credit, properties cashflow, loan to value & prepayment penalty are going to be the main determinants on what this loan looks like for you.
Post: Save this deal! What can I do..
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Quote from @Gustavo Delgado:
Quote from @Brandon Croucier:
When is your closing date?
Are you using conventional financing?
To clarify, im am the seller not the buyer. They are using conventional and closing was set for this week.
Okay, hard money and DSCR loans aren't going to have those requirements.
Is the buyer buying for investment or primary purposes?
Post: Save this deal! What can I do..
- Lender
- Nashville, TN
- Posts 687
- Votes 279
When is your closing date?
Are you using conventional financing?
Post: CASH-OUT RE-FI at 80% LTV or better.
- Lender
- Nashville, TN
- Posts 687
- Votes 279
The product is out there, the rate is 2% higher typically. I strongly do not recommend it. Property also has to be able to debt service using that pricing.
Post: Where to keep liquid funds while looking for deals?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
You can keep them in a business HYSA,
I like Goldman Sachs or live oak bank :)
Post: Advice on getting equity out of a rental in Washington state
- Lender
- Nashville, TN
- Posts 687
- Votes 279
A DSCR cash out refinance at a low LTV is going to be your best bet.
Happy to connect!
Post: Refinancing Self-Storage Properties: Can DSCR Loans Help?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Self Storage rates are more in line at about 11-12%.
Its a high risk asset class.
Post: Looking for Long-Term Lender for Airbnb in Indianapolis
- Lender
- Nashville, TN
- Posts 687
- Votes 279
A DSCR loan is your best bet, you can use short term rental income to debt service the loan. These are 30 year fixed products.
Happy to connect!