All Forum Posts by: Account Closed

@Vadim F.There are lenders that only require 3 months seasoning

@Vadim F. on a DSCR loan it is based off of the purchase price. With a 640+ credit score you can borrow up to 80% of the original purchase price, with no seasoning required. For a conventional loan, Fannie Mae guidelines say, "The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan"

 Also, if you purchase with cash there is no seasoning requirement to refinance and get your cash back if needed.  

Hi Gerald:

I recommend staring by talking to a lender.  You can easily find out how much you will be approved for and what a monthly payment will be so you can use that info to determine if properties will be a good investment.  I am a lender in Ohio and familiar with the Toledo and Cleveland markets.  Feel free to reach out if you have any questions.

Hi Sam:

I know of lenders that will lend you up to 75% of the purchase price.  Reach out to me if you want to discuss options.

Hi Shandy:

I just sent you a message.  If you have questions, or want a 2nd opinion and want to compare numbers, feel free to reach out

Hi Brent:

Typically a conventional loan will require 15% down for a 2 unit property. An FHA loan could be a good option and would only require 3.5% down. There are also programs where you can borrow up to 100% of the purchase price on a primary residence.

Hi Ameyo:

If you want to discuss 100% financing options for a primary residence, I can help.  There is a good chance you can buy a primary residence with no down payment required.

Hi Clarence:

There are programs available that will allow you to put less than 20 % down on investment properties and not pay PMI. Feel free to reach out directly if you want to discuss your options.