Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 years ago on . Most recent reply

User Stats

42
Posts
10
Votes
Dario Furman
  • Miami, FL
10
Votes |
42
Posts

DSCR lender recommendations

Dario Furman
  • Miami, FL
Posted

Hey all,

I have 2 Single family homes in Detroit which I BRR and now need to refinance to repeat. Having a hard time finding a lender which can refinance the homes individually since they each would be $80K (70%-75% LTV) or that can cross collateralize both into one loan of $160K with a 6 month (from date of purchase) seasoning period.

The DSCR for both is very strong, they are between 1.6-1.8 each based on an 8% 30 year mortgage rate.


What I am finding is:

1. A lender who can do 75% LTV with 6 month (from date of purchase) seasoning period but need 3 properties to qualify not 2.

2. A lender who can do %70% LTV with 6 month of rental history (NOT 6 months from purchase date)

Can anyone recommend a lender they have used in the past that has helped them finance properties which have ARV's of less than 130K which will result in loans less than 100K each?



  • Dario Furman
  • Loading replies...