DSCR loans used to finance other properties

[Bruce Bennett]

Are DSCR lenders able to loan in any state? Can I use a property that's an established rental to buy property in a different state. If I only

need 50% LTV will that help the interest rate very much? Thanks for any advice.

[Marty Johnston]

@Bruce Bennett you most definitely have options here. We haven't discussed Credit or estimate values, but you could comfortably obtain rates in the low 7's / High 6's right now on a 30-yr fixed with several lenders at 50% LTV depending on whether you want to pay pts or not. However, with rates coming down and the likelihood of you wanting to refinance again in the next 12-24 months, the prepayment penalties on the lowest rate options will have longer Prepayment Penalties (5 years). I'd suggest requesting a reduced (1-3 yr Prepay) which will cost a higher rate, but it'll likely be short term given the anticipated market trend that it would be worth it in the long run.

Feel free to shoot me a DM if you want to discuss options. 👍