DSCR loan options - PLEASE HELP

[Michael Ratzken]

I have a client needing to do a non QM loan due to some losses she had with a company she was an owner in, she recently sold an office building in Ca and  is 1031 it into 2 homes she has under contract in the phoenix area, what are the best no-doc investor loans out there that can close fairly quickly, and have decent fees, some we have looked into asking for 3 points, the total purchase is around 2.8 M so about 90k in fees 

[Caroline Gerardo]

2.5 -2.75 points is market rate.  There are 20+ lenders. Choose one who knows what to put in the file. Debt service ratio is NOT a no doc loan and NONQM is not a NO doc loan. Bank statement loans also require docs. When you have luxury properties (you mention 2.8 mil purchase) it is likely what the appraiser says is the market rents is going to require a LARGE down payment to cash flow and probably two expensive appraisals.  Can close in 12 days or less depending on how cooperative borrower is on response.