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Updated almost 2 years ago,
DSCR Lender Suggestions?
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!