All Forum Posts by: Simmy Ahluwalia

@Mark Walker - is this in the B'ham market?  Either way, we can finance this asset class.  Reach out.

@Aaron Bard - we can get to 100% of the purchase/reno in Maine; however, there are certain stipulations, full doc file with tax returns, credit, liquidity, income, etc....

@Jean-Marc L. - we can work with low credit scores, but you cannot live in any of the units as your Primary for us to finance.  

Tough ask on the 15% down. Don't know anyone doing this on Porftolio. Most common is 75-80% LTV.

@Marty Howie - we too financed Foreign Nationals. If you don't have a VISA, U.S. bank account, credit, etc....then we will put you in the ITIN category and still obtain up to 75% LTV on the purchase.

@Michael Caldwell - everyone is correct above on the explanation and application of DSCR; however, this is NOT going to apply to your deal scenario.

Since this commercial property (assuming it's zoned commercial) is going to be leased to a Group Home, now you will technically be in a single tenant net lease scenario.  If the property is not zoned commercial, then you cannot have this tenant operating a Group Home.  You need to check with your planning/zoning department. 

For AZ, we don't need any seasoning period.  We can cash-out/refi as soon as the reno is complete.

@Maria Gabriela Henriquez - lots of factors come into play, but on average 75% on purchase.  Rates from mid 7's to low 8's fixed.

What's the location?

@Mat Fisher - your income doesn't matter. DSCR is the way to go. There may be cheaper options than 8%.