All Forum Posts by: Upen Patel

@Timothy Hero Happy to step in to cover your relationships. I can do DSCR on manufactured. ALL 50 states.

@Kelly Schroeder You don't have to do a cash-out refi to access equity in a rental property. You can get an Equity 2nd (home equity loan) to get the equity out.

Happy to help.

@Erik Estrada I agree with you. We have all faced borrowers who have no dignity. They will pick your brain, and take the details to a LO how has nothing else to offer but a lower rate. I can smell this over a call (most of the time) and tell them straight up to not waste my time if they are just rate shopping. As respectable LOs we have to be upfront.

I am glad I am not facing what you are on the lender side. Most of my Non-QM lenders are correspondent, so I control everything in house. The few that we work with as broker, I build deep relationships with, and they know that I will out them if they ever competed against me.

Get rid of bad borrower and lenders, and life will be better.

@David Brown There are loan options to keep the current 1st loan in place and get an Equity 2nd on an investment property, with title to LLC.

Happy to connect and see if I can be of help. Feel free to DM me.

@Ashley Mierez Please thank your husband of his service.

When you are going to live in one of the units, you have to view yourself as a tenant, and look at the cash-out on that basis.

VA loan is a great. With 100% intact entitlement, there is no loan limit. So you want to use it at the most opportune time, so you can get the most value.

Its perfect to build your property portfolio as your husband PCS. It will allow you to buy as a primary residence (lower down payment and better rate). And it provides you the diversification of location and time.

Work with a lender that can provide not just a loan, but help you plan/strategize to build your portfolio, and support you over time across the US. 

@Robert Johnson As many have stated, you need to find a different lender. Many can go much lower.

@Jake Yuskaitis Its called Delayed Cash-out refi. As long as the property is bought in cash (with own funds). The cash-out loan LTV is based on the appraised value. And loan amount is based on the lower of the cash-out LTV or purchase price + purchase closing cost.

@Brandon Lee

While there is a lot of flux and changes in guidelines, I would saw things haven't been this open in a long long time.

15% down DSCR, Equity 2nd for investment, etc.

You might just need to find a different lender.

@Ricardo Diaz Do a cash-out refi into an LLC, is simple. Not sure what the other lenders are tripping up on.

You can do it with all options - DSCR, Full doc, Bank statement, 1099, P&L, Asset depletion.

Happy to connect. DM me if I can be of help.

@Vidhi Amin I can. Happy to connect and answer your questions. DM me.