All Forum Posts by: Andrew Zamboroski

Hello everybody. I'm looking at properties in Kentucky and Tennessee currently for LTR. I am looking to compare DSCR and conventional loan rates to see where I can get the best deal overall. My max purchase price will be $400,000, my FICO score is around 720 and Experian VantageScore is around 760. I am married as well and her scores are around the same as mine. I do have a mortgage currently in my name that I am in the process of having assumed, so currently my DTI is very high because of this. So, we will likely either do the DSCR route or conventional route in only her name. We have 20% to put down up to this price. Looking for recommendations from people who have personally used a specific lender and had good experience. Thanks in advance

Hi, I'm looking to connect with as many HML as I can who service HML.

Hi all!

My fiancé and I are going to be building our first rental property this spring. We are financing the build with a Heloc, once finished we’d like to cash-out refinance ASAP to payoff our line of credit. We purchased the raw land fall 2024. 

I know the seasoning period for LTV cash-out refinancing is typically 6 months. In our situation, would that seasoning period begin when we closed on the land in fall 2024? Or once I finish building the house and get the C.O.?

Thank you in advance!
Jake

Does anyone have Any HML recommendations I'm a beginner and want to get started right away but want to weigh my options

Hello,

Im working with a lender to refinance into a Fanny Freddy mortgage now that I have stabilized my 36 unit complex.

They have asked for a CAPEX schedule, and a T-6, in addition to the rent roll.

I imagine a T-6 is just a Trailing 6 month table that shows our rents, expenses all fully tabulated and organized into a summary table, but having a hard time finding documentation online to support that. 

I am also wondering what to show for CAPEX schedule, if it should be anticipated expenses in future or just show the past expenses, or should it just allocate $ for each month.

I want to make sure I am putting my best foot forward with this guy so I was hoping for some examples and feedback here.

Let me know!

 Hey guys,

Let me know if this helps. 

Loan Amount 110k

Currents Rents $1,375/mo

Market Rents $2100 

5 bed 3 bath

I know there are hundreds (thousands probably) of lenders out there that offer a DSCR product. I am posting here because I am looking for some advice or recommendations from other investors who can recommend a lender that they had a pleasant experience with. We are a small partnership with 4-5 properties currently, but we are growing and hoping to find a reliable lending partner that we can do repeat business with.

About 3 months ago, we successfully completed a BRRRR deal where we had excellent numbers, over a 1.25 ratio at 75% LTV, our guarantor partner has an 800+ credit score, and we had no issues qualifying for the loan. However, the process was extremely cumbersome, communication was inefficient, and the loan fees were inflated compared to other deals I have seen from fellow investors.

We will be ready to begin the refinance stage of our next project in the coming days, as renovation is finishing up and we are screening tenants. We have a somewhat specific wishlist for lending requirements and terms that I will highlight below. Any recommendations or advice on how to attain this would be very much appreciated. We currently own the property free & clear.

This is what we're looking for:

Credit screening for Primary Guarantor partner only (81% ownership stake)

Minimum 75% LTV on refinance, we've heard of 80% LTV on a DSCR purchase but haven't been able to find anyone to do that on a Refi

0% Origination fee

Title in LLC name

Are the going/common down payment minimum for duplex's (20%) tri/quadplex (25%)?

Investment property (not primary residence)

I'm interested in purchasing a property in Texas (that's in a great location for STRs). It's an acreage property near the lake that has a main house (2/1), guest house (3/2), and small studio-layout unit (3 units on same property). The guest house has STR rental history but the other two units would need to be based on projections. It's a million-dollar property. I don't know what the 'appraised' value would end up being. I also have personal W2 income, if that matters.

Is there a loan out there for a set-up like this at 15% down? 

We are exploring the possibility of purchasing an investment property in Florida. As U.S. citizens residing in Europe, we are required by the local tax code to hold the property in our personal name. However, our research indicates that many DSCR lenders require Florida properties to be held in an entity.

Are there any DSCR lenders that offer loans for properties held in a personal name?