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Updated 5 months ago on . Most recent reply
DSCR loan for a condo in Chicago Suburbs
Hello, I am currently looking to purchase a condo in the surrounding Chicago suburbs and I am looking to get a DSCR loan. The condos I am looking at range from $110,000-$140,000. My Fico is around 650. My down payment would be around 30-40%. Any recommendations or advice would be greatly appreciated, thank you.
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#3 Private Lending & Conventional Mortgage Advice Contributor
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Quote from @Mateusz Skiba:
Hello, I am currently looking to purchase a condo in the surrounding Chicago suburbs and I am looking to get a DSCR loan. The condos I am looking at range from $110,000-$140,000. My Fico is around 650. My down payment would be around 30-40%. Any recommendations or advice would be greatly appreciated, thank you.
Your best course of action is going to be to really see what you can do to get your credit score up as quickly and as much as possible - you will likely be able to find options right now - but your terms are going to be much much better if you can get that credit score even up like 30-40 points