All Forum Posts by: Dallas Sauer

 Cash out after 90 days. Before that only rate and term.

 Typically you will lock that in with your lender while confirming terms. They should be able to show you multiple options with the different prepayment penalties. 

75,000 for DSCR 50,000 for Fix & Flips

Hi All,

I am a Direct Lender as well as a Mortgage Broker in Arizona. My group and I are expanding our Hard Money lending Nationwide.

We are offering 30 year fixed DSCR cash out refinances with 90 day seasoning! We can offer you a quote within 30 minutes of answering a few questions on your property without providing all your documentation.

The property does not have to be rented to qualify.

Loan amount based on the income of the property. Rates starting in the 6's based on Credit and experience.

DM or email me to get started! [email protected]

Keywords:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Northern Mariana Islands, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, U.S. Virgin Islands, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, AK, AL, AR, AS, AZ, CA, CO, CT, DC, DE, FL, GA, GU, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UM, UT, VA, VI, VT, WA, WI, WV, WY, Fix & Flip, Hard Money, Broker, Realtor, Wholesaler, Contractor, Lending, DSCR, Cash out, Refi, Refinance, BRRR, Mortgage

 We check background and credit and require an loe for any derogatory marks. Credit of at least 630 on flips 660 on rental loans. No income verification. Past experience is used to qualify the down payment needed. Appraisals typically required. 

Hi All,

I am a Direct Lender as well as a Mortgage Broker in Arizona. My group and I are expanding our Hard Money lending Nationwide and have the capacity to fund over 500 Million in the next year. We are hoping to fund the first 100M before the end of the year. We are looking for brokers, referral partners, and investors who are looking for terms for themselves and their clients. Quick Quotes with minimum information. 5-14 days closes available. No fees other than Appraisal are paid before closing.

We fund Fix & Flip, Bridge, New Builds, DSCR with only 90 days seasoning required for cash out. 1-4 units, 5+, Mixed use, etc.

Reach out today and we can discuss more!

Keywords:

Alabama, Alaska, American Samoa, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minor Outlying Islands, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Northern Mariana Islands, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, U.S. Virgin Islands, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, AK, AL, AR, AS, AZ, CA, CO, CT, DC, DE, FL, GA, GU, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MO, MP, MS, MT, NC, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, TN, TX, UM, VA, VI, VT, WA, WI, WV, WY, Fix & Flip, Hard Money, Broker, Realtor, Wholesaler, Contractor, Lending

 It really depends on your overall needs. Our best rates will be with a 5-4-3-2-1 prepay. That being said, we have a prepay of 1% in year 1 and nothing after that. The rate is higher than with the standard prepay but if you are still looking to be at rental rates but have the option to sell within a year or so it is a great option.

Is it a true 8 unit? one parcel?

How are the numbers? Commercial DSCR typically factors in extra expenses, reserves, property management, etc.

You could pay down the rate to get to 7% but would be better off in the mid 7s where rates are today. This will include a prepay penalty typically 5-4-3-2-1 or 3-2-1 sometimes 1-0-0 but rate reflects the lower prepay. You could also bridge both properties if you would rather not have the prepay but rates are around 11 for that. How long do you want to hold the properties? 

 This is the correct answer. typically you would work out a schedule with your contractor. Say 5k up front or whatever is necessary. Then once work is completed, you can take your first draw to reimburse that 5k. rinse and repeat until the project is completed.