All Forum Posts by: Eric Fernandez

Hey everyone! I'm looking to close on a house in Birmingham, AL using a DSCR loan. I just got the terms from the lender and they're absolutely atrocious. Now with that said I totally understand that sub $100k DSCR loans typically come with really bad terms, but this just feels straight up abusive. Anybody know a lender who can compete with this? 

My biggest issue is the $8100 closing costs, that just feels like highway robbery to me. The interest rate isn't great either, but I could potentially swallow that and refinance at a lower rate down the line. PP is $75,000.

I see you’re in St. Louis, I’m looking there as well!

Yes, mainly looking in the $30k-$100k range (I know anything under $65k is a bigger project). Right now I'm in Alabama looking at houses. Mainly SFH in the 2-4 bedroom range, open to a duplex if the price is right. I'd love to find some owner financing deals but that's been a grind haha.

Super fired up to join the community and begin my section 8 BRRRR journey! I'm looking currently in the Birmingham/Montgomery market, any suggestions or advice would be much appreciated