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Updated 8 months ago,
Can I get a DSCR loan on a property that is livable but needs rehab from flooding?
Purchase price 245K ARV 425K. Market rent 2500/month. Home passes 4pt but has a few feet of drywall removed in several rooms and the lower kitchen cabinets removed. There is a working sink and all appliances are working. Current owners are still living there and need to stay for 30 days after closing. I will then go immediately into renovations, for which I have proof of funds.
Will some lenders allow a DSCR loan on this property as is? Thank you.