All Forum Posts by: Melvin List

@Wayne Poisson Banks will be limited on the amount of products they have to offer for this type of transaction. A broker can shop this out with multiple lenders depending on your situation.

@Susan Butler can you tell us a little bit more about your income so we can point you in the right direction? 

@Jaquon Miller so it sound like they are charging 1% and giving you a lender credit of 1%?

@Andrea Chacon this could be a huge problem down the road when you try and refinance.

@Jaquon Miller what kind of lender fees come with the 5.75% rate? 

@Damein White I would look at a broker for any DSCR loans. Bank will be limited on the products they offer. A broker can shop multiple lenders for you.

• Purchase Only Programs
• 700 min FICO
• Up to $2,000,000 Loan Amount to 90% LTV
• 1099, Bank Statement, P&L or Full Doc Programs
• 6 Month Reserves

An FHA mortgage will not have a pre payment penalty.

 @Bo A Vanecko I would reach out to a broker to shop this out for you.

Asset Depletion loans are an option. Also might want to look at bank statement, DSCR, or No Doc Options.