Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
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 1 year ago on . Most recent reply

User Stats

10
Posts
5
Votes

DSCR Lender Suggestions?

Robert Rutledge
Posted

I've been in touch with a lender for a DSCR cash out throughout the rehab process on a purchase through an LLC.
We are now ready to move forward, but the terms have now changed.
Before proceeding, I wanted to check in on here and see if there's any suggestions of lenders people have had a good experience with.

Details:
- MFH
- Memphis, TN
- DSCR ~1.5
- Est. Appraised Value = $180k

Being offered 70% LTV cash out at 7.5% and 2% origination for 30 year fixed, with a 5yr. prepayment penalty structure.

We have not completed one of these loans yet, so trying to learn as much as I can - any help/insight is greatly appreciated!

Most Popular Reply

User Stats

190
Posts
119
Votes
Ryan Stuckey
  • Lender
119
Votes |
190
Posts
Ryan Stuckey
  • Lender
Replied

That's pretty fair and reasonable with the current market...that's right where we are at nowadays on that kind of property profile (and with good personal credit).

Loading replies...