All Forum Posts by: Melvin List

@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.

@Brandon Sisco Agreed 85% is available but there are a few more requirements to get the extra 5%. Also, are bank statements an option? If so you can get up to 90%.

@Summer Shelton with 20% down you should be able to find a Jumbo product that will also allow you to use the other 3 units as income.

@Jorge Garcia Single family Homes might be safer but I have done a ton of Beach front condo's in Florida and most are very profitable. To Find a house on the beach you will be looking at paying over a million. 

Agreed most DSCR lenders will lend in an LLC

@Brandon Sisco Agreed 85% is available but there are a few more requirements to get the extra 5%