All Forum Posts by: Nana Sefa

Can anyone recommend a DSCR lender that will finance a 5 unit on DSCR?

Hi Guys,

I have a SFH in AZ that currently has a 8.25% DSCR 5 year prepayment penalty of 15k. I have a 800+ credit score and a one year lease in place that is 1.00 of the PITI. Current loan balance is 302k. Current value based off Zillow is 435k.

Please let me know if you guys think I should refinance with this quote from a lender or wait until the prepayment penalty is gone. I have 4 years left before the 15k prepayment penalty is gone on the current mortgage. 

LTV- 75%

DSCR 6.75% this rate will bring my mortgage from 2285 to 2116

Pre-Payment Penalty 5-4-3-2-1%

Loan origination 1.5%

Buydown option 1.5% to make it 6.375% this rate will bring my mortgage from 2285 to 2035

Appraisal 725$

Underwriting- 1295$

Thank you guys! 

I am looking for a home inspection company in the DMV that guarantees their work.  I had a company in Michigan that would guarantee to pay to fix any major miss that are discovered within 90 days of their inspection. Looking for a company that offer similar guarantee in the DMV. Thank you.  

Happy to look at an FHA with you!

House hacking is a great starting strategy.

 Good morning, have a clear title is a marketable asset for any Buyer, future owner.