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Updated about 2 months ago on . Most recent reply

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11
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2
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Briley Roe
2
Votes |
11
Posts

Dscr investment rates high

Briley Roe
Posted

I am buying a property for 144k that appraised for 247. the property was lowered to this number after sitting for a year. needs 25k in repairs, and will rent for 1350-1450. The dscr loan is requiring 25% down, and 13000 in closing for a total of 48. I feel like the initial investment is a little inflated. Is it normal for closing to be 13k? and does this seem like a good deal? take into consideration I am getting a decent deal, and this property could Easily be worth a 100+ a sq ft within 5 years

property pictures below

https://www.zillow.com/homedetails/1072-Fm-126-Merkel-TX-79536/62562011_zpid/

  • Briley Roe
  • Is it normal for closing costs to be $13k on a DSCR loan, and does this property investment seem like a good deal?

    Without a breakdown, $13k seems high, especially with a broker fee and other charges, and exploring conventional financing might offer better terms.

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