All Forum Posts by: Jay S.

@Leanna Nixon If you don't not any plans with the cash after refinance, then you probably shouldn't do it IMO. But if you know what to do with the funds after refinance, then you can go as high as 80% LTV for cash out refinance. In other words, if you own the property free and clear for $100K, you can take out up to $80K before closing costs. Hope this helps.

DM me if you need any help in checking how much you can cash-out/their rates etc. 

@Stephen Coleman - You can also do Foreign National Loans. Besides that, we have few Non-QM lenders which can do "No Ratio DSCR" as well where they don't care much about your income history or even rental income. Feel free to DM if you want any specific guidelines around these loan products.

#2 is risky. HELOC rates these days are very fluctuating. I have seen many clients getting burned because of it since last year. And then you are trying to do cash out refinance which also has not favorable rates and terms compared to just purchasing. What if price comes lower when you refinance?

So, Go with #1. Instead of 30% down, you can perhaps do may be 10-15% down? There are lending options around there. DM me if you need help. 

@Sarp Ka: We have multiple lenders which do 20% on a conventional loan if you qualify. DM me if you are interested and I can send you their guidelines for qualification.

Thank you.  

As a Lender, we are getting a lot of traffic in investor focused DSCR loans at 30 years fixed but only 15-20% down. Also seeing a lot of seller credits to cover all closing costs compared to 6 months ago.

@Julian S. - Julian if you can get property to have 1.25 DSCR, our lenders can lend on 15% down payment. DM me if you are interested and I can send you their guidelines. Thank you.

This is Awesome! Congratulations. 

David Greene's One Brokerage should be your First and Final stop for DSCR Loans :) :) :)

I can confidently say our Lenders gives amazing rates with 15% down payment and we close these loans very fast. 

Hi Michael. Majority of my loans lately are DSCR loans and most of the are with 15% down payment. DM me know if you have any questions.

Hey Dan, we do 15% down payment DSCR loans all over USA including Florida. Latest one I closed in July was at 6% rate and we consider the short term rental data including AirDNA, AirBNB etc while calculating DSCR ratios. DM me if you are interested and I can send you our quote based on your profile. Thanks!