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All Forum Posts by: Edward Acosta

Edward Acosta has started 1 posts and replied 3 times.

Quote from @Erik Estrada:
Quote from @Edward Acosta:

Hello everyone,

I have a duplex I own outright in Detroit that I am trying to do a DSCR cash out for 80% LTV. This property is fully rented and the revenue is $2,350/mo. The property will appraise between $115,000 and $130,000 depending on the comps the appraiser pulls. I am looking for a lender that will offer a minimum loan amount of $80,000, as I am considering this product for this property and for another one I own that isn't stabilized yet. If your company can offer this type of loan, let's connect. Thank you for your time.

Best regards,

Edward


 Hi Edward, 

We offer this however, the rate is pretty high at 80 LTV. Expect 9-9.75% assuming a solid FICO score.


 Hi Erik, 

Thanks for the insight. I will email you directly.

Hello everyone,

I have a duplex I own outright in Detroit that I am trying to do a DSCR cash out for 80% LTV. This property is fully rented and the revenue is $2,350/mo. The property will appraise between $115,000 and $130,000 depending on the comps the appraiser pulls. I am looking for a lender that will offer a minimum loan amount of $80,000, as I am considering this product for this property and for another one I own that isn't stabilized yet. If your company can offer this type of loan, let's connect. Thank you for your time.

Best regards,

Edward