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All Forum Posts by: John Stomps

John Stomps has started 1 posts and replied 2 times.

Private Lending & Conventional Mortgage Advice

Post: Debt Coverage Ratio mortgage loan

John Stomps
Pro Member
Posted
  • Investor
  • Columbus, OH
  • Posts 2
  • Votes 1

60% LTV; currently the house is Free and Clear. No Point being charged to me at closing. Thanks for the prompt responses to my question. Much appreciated!

1 Vote
Private Lending & Conventional Mortgage Advice

Post: Debt Coverage Ratio mortgage loan

John Stomps
Pro Member
Posted
  • Investor
  • Columbus, OH
  • Posts 2
  • Votes 1

I have a lender offering me a DCR loan at 6.99% on a 40 year fixed rate. This is to do a cash out refinance on a single family home in Hilliard, OH (A very nice community in which to live and own real estate). Is that a reasonable interest rate and terms or should I continue shopping?

0 Votes