All Forum Posts by: Brandon Croucier

Sounds about right, I'm right there on a DSCR 30 year fixed 7.249%, 5 year prepay with around $3000 lender closing costs.

DSCR does not require disclosures as they are not sold to fannie and freddie mac but many lenders include them as a courtesy.

Theres two concerns here, time and money. 

If you are looking to get cash now I would move forward with a delayed finance.

If you are looking to pull out the most amount of money possible, I'd look at a cash out refinance.

Another option would be to do a bridge delayed finance, pull out some cash now, then refinance again 6 months down the line when the seasoning period is up.

I would love to connect and share some ideas as I am working a couple similar loans as is right now.

I can make 85% LTV happen, let's connect and see if its a fit.

Sound about right on the leverage and terms side of things. Here is a resource that will allow you to check if a property is rural or not.

If it comes back as not rural, send it into the appraiser and have them make the change.

https://www.consumerfinance.gov/rural-or-underserved-tool/

I had a file recently appraisal came back 50k lower than expected, nearly killed the deal. We ordered a 2nd one and it came back 100k higher than the previous appraisal.

Order a new appraisal.

We can connect, I wouldn't be able to help you on mobile homes,I don't bother with helocs but I already checked out 308 Holmes st Shallotte NC, can refi that one and I can see what I can do on your fix & flips/construction.

Good Morning! I just completed one like this last week. I would love to connect and see how I can assist you.

Need to get that credit up my man. 620 Fico is going to kill any good rate you'd look at.

I've got programs but its not a pretty rate.

Quote from @Erik Estrada:

Quote from @Brandon Croucier:

5-9 Unit DSCR below 7 doesn't exist right now. I wouldn't spin your wheels.

I'd love to connect and see what I can do for you on a 5-9 Unit DSCR product.

Yes it does exist, but on loan amounts $1 mil or more for a Freddie Mac SBL loan. Albeit, a lot harder to get approved for these compared to a regular DSCR loan you can find at a mortgage shop that mostly focuses on 1-4 Units.

An SBL is not DSCR.