All Forum Posts by: Brandon Curry
Brandon Curry has started 1 posts and replied 4 times.
Post: $30k and under DSCR loans
- Posts 4
- Votes 0
Quote from @Kelly Beck:
Sure...https://www.homemortgagespecialists.com/ and I discovered they use United Wholesale Mortgage, which is who was also recommended to me...so it looks like only one place. Just make sure you understand the fees involved.
Thank you I'll definitely look into this.
Post: $30k and under DSCR loans
- Posts 4
- Votes 0
Are you able to share which DSDR lenders you found that would lend at that amount?
@Kristen L Garner
Would it be possible to get a personal loan to purchase a short term rental?
Of course the right loan would have to come into play with this scenario. I'm thinking a DSCR type of loan to where your DTI isn't a factor but the performance of the property is. And if the right property is purchased you can recoup the money to pay back loan and any other start up costs to repeat the process.
Post: What are my options when my escrow shortage causes higher payment
- Posts 4
- Votes 0
I just got an escrow analysis from a new lender (transferred about a month ago) and there is an escrow shortage. The property is in South Carolina. (Columbia, Richland County) The increase would case the payment to go up $900. Last year I got money back because of a shortage now there’s a massive overage.
What options would I have as an exit strategy to get out of paying this high amount? I understand it has the possibility to change yearly but I didn’t expect it to almost double what the mortgage is on the property. First payment of the new amount is due the 1st of next month as well. I cannot absorb that kind of loss continuously for the next year. Any suggestions wil be helpful.