All Forum Posts by: Matt Cartwright

Hi @Burt L. would be happy to connect on this - we lock our rates for 60 days at the very start of the process so there is no second guessing or re-trading at the end of the process. 

 Hi Brian, we may be able to assist on this one depending on the numbers. We have a minimum loan amount of $67,500 however is your are doing a pooled loan we can do as low as $50,000 per property. Do you have some numbers on what the breakdown would look like for this purchase?

@Sanat Bhandari Hi Sanat, I can do cash-out with no seasoning. I will send you a PM so we can discuss in more detail. 

@Stephanie P. As long as rehab was completed on the project before refinancing we can use the new market value of the property straight away, up to 80% depending on location, no seasoning. 

@Kevin O'Brien Pretty much what Jay had mentioned - I work on the private money side where you can use the new market value of up to 75% with no seasoning and we actually don't even need tenants in the property to qualify - we will just use market rents. 

If you have any questions feel free to PM me!

@Nathan Wierzgac Hi Nathan, when you originally tried to get financing for that property what kind of product did you apply for? A DSCR loan may be what you are looking for to continue holding this as a rental just depending on what you can get for rents. Since there is no history of STR income we would personally use market rents in the area and qualify the loan using those LTR values.

 Makes sense, if you do decide to change the vesting on title post close we would be alerted of that and effectively default due to the changes that are ineligible within the loan docs. 

Hi @Marc-Antony F. just sent you a PM. We aren't able to close in a land trust however we have DSCR rates with a 5 in front of them still so may be worth a look!

Tony Haselip is a good friend of mine and typically does 90% of purchase price in CA. Let me know if you'd like his info!

Hi John, feel free to reach out if you are looking for some additional options on your DSCR loan!