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Updated about 1 year ago on . Most recent reply

Blake Phillips's profile image
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Blake Phillips
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Private Lending & Conventional Mortgage Advice

DSCR loan, looking for options

Blake Phillips
Posted

With rates dropping does this estimate seam competitive? I'd like to keep the 1.25 so I would be going with the 70% on this. I'm having trouble finding lenders for detroit and then lenders that will loan under 100k sfh.

Detroit, Michigan
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Erik Estrada
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Hey Blake, 

That loan estimate isn't too bad but proceed with caution. I had a client work with Lima One and they changed the terms on him at closing because of the high DSCR requirement and their loan minimum. We had to transfer the appraisals and they aren't very cooperative when it comes to that.

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