All Forum Posts by: David Bilandzija

Hi Samuel,

30 year fixed rate options are available up to 75% LTV. This is an asset based program with an aggressive underwriting approach for loan amounts under $500,000. As long as the property meets the lenders definition of stabilized we can ignore the debt service coverage ratio.

Hi Li,

Another factor to be mindful of is the loan balance, as it affects interest rate.  High balance loans will carry a slightly higher rate.

Conforming Loan Balances in Contra Costa County:

• Low-Balance:
  • For a 1-unit property, the limit is $806,500
• High-Balance:
  • For a 1-unit property, the limit is $1,209,750

Hi Greg,

The lower loan amount shouldn't be an issue for DSCR lenders on 5+ unit multi-family. I'm happy to be resource for you if you'd like to get some additional input.

@John Chambers I'm assuming you submitted a loan application.  Are you certain that the lender you have your loan submitted with will accept value.  An internal real estate review may undo the appraisers overstated value.  Lender's recognize human error, are risk averse and identify situations like this to mitigate risk.  

@Tony Pellettieri To answer your question directly, there are second position DSCR loan programs available to investors with max CLTV topping out at 80%. Your 699 score qualifies you. The property will need to meet 1.00 DSCR minimum. 1-4 unit properties are eligible. Get that score above 700 for improved pricing. Happy to answer any questions. Best of luck!

Hi Ron,

I worked with a private non-bank lender for ten years. I'm happy to answer any questions.  I helped several foreign investors over the years and even a few from Israel ;)

Presently, I work as a mortgage broker helping investors like yourself.  

@Katrina Robinson Don't know what part of LA you are in, we run a monthly meet up in Woodland Hills and would love to have you.  Good place to meet up and connect with like minded investors.

https://www.biggerpockets.com/forums/521/topics/1232390-re-o...

@Katrina Robinson Do your tenants receive care or do they simply reside in the property like boarders?

@Dalton Summers $50k min loan amount

@Takarra Fowler If you're looking for in person meet ups.  Check the forums here on BP for a place near Augusta.  I would also hit up meetup.com   In person networking will add so much knowledge and insight.   

https://www.biggerpockets.com/forums/521