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Updated about 1 year ago,
First DSCR - Are these costs normal?
I am planning to secure my first DSCR loan. I have a property in mind that is 350k. The lender sent me the following options (attached photo). I am a little bit confused on why the monthly payment is so little? For example, I have another property with 315k balance left, 3.375% interest rate and the total monthly for it is $2030 (includes escrow + taxes).
The DSCR loan is for interest rates that are double, slight less loan amount (~35k), but even with the difference in loan amount the monthly payment feels like it should be much more.