All Forum Posts by: Nate Herndon

Happy to take a look at it for you. Please send me some details via email (in signature) and we can start the conversation. 

Correct - this data includes closed loans under residential DSCR, rehab/bridge and 5+ unit multifamily programs.

Mmm maybe @Dallas Sauer - in addition to credit it depends on the number of units, LTV, DSCR, seasoning, prepay, etc.

Here are two scenarios with the same lender and 1.25% separating the rates:

o 800 FICO, single family, 1.20+ DSCR, 5% for 5 year prepay, rate/term refinance @ 70% LTV
7.75% on a 30-year fixed

o 800 FICO, 2-4 unit, 1.20+ DSCR, 54321 for 5 year prepay, cash-out refinance @ 75% LTV
9.00% on a 30-year fixed

Hi Brian - I have some Baltimore clients with whom you can speak about their experience with our team. I'd be happy to take a look at the refinance options you would have while you take the opportunity to dialogue with them about their BRRRR process with us.

Origination is separate from the rate - so it would be an 8.75% rate on a 30-year fixed term, with 2 points of origination paid as part of the closing costs.

@Nicholas L. of course, apologies that that wasn't abundantly clear. As a mortgage broker, I wanted to create a visual representation of where loans that we are closing are located by state. I see the question often posed here that asks "Where are you investing?" and, all things being equal (as in we do not place any special focus on lead-generation in certain markets), this is where loan volume is falling for myself these past two years. My plan is to show this same data from our whole team for 2023 and represent where loan volume for the private lending industry is aggregating.

If there are states that anyone sees represented here that were not on their radar or that come as a surprise, I am happy to elaborate on the specific markets where we are seeing some volume.

@Vadim F.

Origination at 2 points or $2500 (greater of) + ~$1800-$2700 underwriting/admin/legal fees (depending on the program)

Hi @Luke Tetreault, the DSCR looks great to me. A 75% loan would be too easy on 30-year fixed, DSCR program (closing in an entity). A private national lender will not cap you at 65-70% LTV so long as you have a 680+ FICO.

None that conform to a lender's guidelines. It would be a violation of the loan terms, and inherently NOT a DSCR loan...is the owner-occupant paying themselves rent?

Hi @Rufino Padilla, there are many programs that can fund 80-90% of your purchase price (even as first time investor). Would be happy to explore the options with you as an advisor.

The main loan caps that you will typically run into are the following:

o  85-90% of purchase price + 100% of rehab
o  90-92.5% loan-to-cost
o 70-75% of ARV

There is a chance that 70% of purchase + 100% of rehab has bumped up against one of those max loan amount caps. But that is to be determined by the loan figures we will review.