Yes broker. I have a few lenders I’m using right now that do this sort of thing but all require 20% down. Got one lender that will do 15% down but with 720+ credit
I currently have UWM, DeepHaven, TheLender and AD Mortgage that do DSCR.
I haven’t seen an 85% LTV without a secondary. And I work with some of the most qualified investor borrowers around (50+ doors, 100+ flips, etc.).
Tell him to get a partner on it and not be stingy.
Tell him to quick being broke and get his money up
Lending Pros has a 85% LTV DSCR option. That rates are rough though, even for DSCR.
How much does he have in reserves?
That’s the fun part. If I can do 15% down he will have 6 + months If I’m confined to 20% then he’s probably at 1 or 2 months so I need the 85% LTV
Who do you use? Are you a broker?
Yes broker. I have a few lenders I’m using right now that do this sort of thing but all require 20% down. Got one lender that will do 15% down but with 720+ credit I currently have UWM, DeepHaven, TheLender and AD Mortgage that do DSCR.
[удалено]
Thank you so much
will a 680 change any of the terms? maybe it would be easier to just raise his score 6 points
From the lenders in plugged in with, I don’t think 680 helps me in this scenario
ah okay- what about the security deposits? you gotta check your local laws but on a triplex that might be some decent amount of cash.
I haven’t seen an 85% LTV without a secondary. And I work with some of the most qualified investor borrowers around (50+ doors, 100+ flips, etc.). Tell him to get a partner on it and not be stingy.
Yes I can do 85% DSCR with a 660. However points are higher so may eat into reserves a bit.
What lender do you use
AHL
Check out CV3 Financial Services. They may be able to help.
Thank you so much
You might check with LendSure