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Updated about 4 years ago on . Most recent reply

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Eric Howell
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Small Commercial refi issue

Eric Howell
Posted

Trouble getting refi due to Covid.

10 unit.

2020 renovated

Pp 300k

Reno 300k

100% occupied

Just moved into a unit to make my primary.

My credit 740, DCR good 1.35, banks are pushing me away due to uncertainty of Covid.

I have private on it now but it’s eating me up. 

Any tips would be greatly appreciated. 

Most Popular Reply

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Stephanie P.
#4 Mortgage Brokers & Lenders Contributor
  • Washington, DC Mortgage Lender/Broker
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Stephanie P.
#4 Mortgage Brokers & Lenders Contributor
  • Washington, DC Mortgage Lender/Broker
Replied

@Eric Howell

Moving in kills your chances of getting a portfolio loan.  There is money out there for you, but not for owner occupied.

Stephanie

  • Stephanie P.
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