rural DSCR lenders for NC

[MJ Richlands]

been having a tough time finding a DSCR for whats considered "rural" in NC.

credit is good enough.

70% LTV would be just over 100k

dscr ratio over 1 with current tenants in place

ideally no reserve requirements

can anyone help me find a lender that can handle this??

[Zach Edelman]

Hello -

If this is a refinance, most lenders on rural refinances will have a max LTV which is typically 65% for rural refinances. They also will have a minimum loan amount of $100K. It may be difficult to find a lender that can do 70% LTV on a rural refinance and do a loan amount of $100K. If this is an acquisition however, this is executable. What are the scenario specifics here? Also, how "rural" is this? You'd be surprised, there are markets, especially in coastal carolina that have small populations but because they are popular for vacation rentals, and/or have a surplus of sales comps in the area, appraisers will mark the area as "suburban."