All Forum Posts by: Brittany Minocchi

Depending on the scenario, I may be able to help. Feel free to send me over some details. 

Rates and terms will vary from lender to lender. Also worth noting that rate isn't as important as people make it out to be. To clarify, I'm not talking about one lender giving you 5.5% and the next giving you 7.5%, I mean switching lenders over something like 0.125%. That lower rate might cost you more in up front fees, you might get crappy communication from the lender, slow or incompetent underwriting, or something that ultimately causes you to lose time, money and/or the deal altogether. 

There are lenders that will do HELOCs on investment properties, but the rates are not good. You may have better luck with a cash out refinance, which would allow you to pull equity from the property by replacing the existing mortgage with a new one. Happy to discuss further if you want to reach out! 

Quote from @Dani Owens:

Quote from @Aaron Lathan:

Has anyone come across any DSCR lenders willing to fund loans smaller than 75K? There's a bunch of property in my old hometown of Baton Rouge under 75K but I can't seem to find anyone willing to lend that low for investor loans. Any help is greatly appreciated.

Does anyone have specific lenders that offer DSCR of $50k? I need to contact them. This is a great thread. Thanks!

$50k loan amount or $50k purchase price/value? There's an option for $50k loan amount as long as the value is $75k or higher....fees and rate will be bit higher than higher loan amounts. Feel free to connect!

I can take a look at the deal for you, feel free to shoot me some info (# of properties you've held title to in the last few years, FICO, LTV, occupancy %, current rents, estimated market value, etc). [email protected]

There are options for 80% LTV on a cash out in PA - expect a rate in the 9-9.5+% range depending on FICO and level of experience. You'd also need to make sure the property debt services at that high of an LTV. If you drop to 75% LTV, rate will be more favorable.

Quote from @Tami Goodwin:

Quote from @Brittany Minocchi:

If you completed rehab that'll support the appraised value, I can do up to 80% LTV depending on experience level and FICO with no seasoning. Property value has to be at least $100k.

 Brittany, can you do GA?  I have the same situation. I purchased the property today. I am starting rehab on Friday. It should be complete in 2 -3 weeks at the most. 

Yes I can - feel free to send a message with more info 

Hey Jagpreet - 

Not sure which area(s) you're considering, but I'm in NE Ohio. Happy to give you a couple names and numbers for Stark/Summit County. 

You can do a HELOC or a closed end second, but the rates on both will be higher than a refi. You also might run into issues finding anyone to do a closed end with less than $100k in equity.

Depends on the lender, not all require sourcing and/or seasoning of funds.