All Forum Posts by: Kristen L Garner

Hi Sunayna, I invest in Indiana but lend for a lot of borrowers in Ohio.  Like @Torrell Palmason mentioned - going the Non-QM route is the easiest way to vest in an LLC or corporation (either during a purchase or a refi). There are multiple products under the Non-QM umbrella, all with their own pros and cons. I'd be happy to help you compare the options if you PM me. Best of luck! -Kristen

I offer these in Oregon! @Jesse McNamara 

I have a 2 section 8 units in Indianapolis and have had a good experience. (Full disclosure: I have a property manager that specializes in section 8.)  The inspections used to freak me out.  But most line items on the list are easy to fix and my PM hires contractors who know what the inspectors are looking for. For me, bringing on my PM was key.  

Your income shouldn't matter for DSCR. They shouldn't even ask for taxes, paystubs, etc. Maybe they are referring to reserves? Usually for DSCR you need show 6 months of reserves (meaning 6 months of principal, interest, taxes, insurance, and HOA for subject property) in any combination of bank accounts, stock accounts, retirement accounts, etc.

Also, you can typically buy down the 3 year pre payment penalty to 2 year or 1 year.  You could ask them how many points that would cost if that is important to your investing strategy. Most programs charge about .5 - .75 points for the 2 year option and 1 - 1.25 point for the 1 year option. 

I can lend on manufactured homes deeded to the land, but not through DSCR. @William Stewart If you are still interested feel free to PM with some further details so I can find a fit for your scenario. 

Hi Brian, 

I utilize some products that are very low-doc, but not zero-doc.  They require: drivers license, a bank statement showing proof of funds for the purchase, copy or mortgage / insurance for any properties you do own.  These options do not verify income, require tax docs, etc. Happy to chat more if you want to PM 

-Kristen

Hi Brian, 

I utilize some products that are very low-doc, but not zero-doc.  They require: drivers license, a bank statement showing proof of funds for the purchase, copy or mortgage / insurance for any properties you do own.  These options do not verify income, require tax docs, etc. Happy to chat more if you want to PM 

-Kristen

Hey Arturo! I personally invest in Indiana. To know if you rate is good or not I would need some more info like approx credit score.  But it looks within range with current rates I am seeing.  Always happy to run numbers for my fellow investors if you want to PM.  Best of luck and congrats in advance on your first acquisition. -Kristen 

I second what @Joel Allen recommended. The Loan Officer Podcast is excellent!

Hey Ryan! I'm an MLO - happy to connect if you want to PM me.  I use Learn Mortgage for all of my certifications and continuing education.