All Forum Posts by: Andrew Zamboroski

With this interest rate, when should I might try to refinance to lock in a lower rate. The home is in Columbia, SC. With the .5 point cut, I think the rates already dropped in anticipation of this happening, but not sure if anyone has further insight into this?

Thanks!

Whenever to costs of a new mortgage are outweighed by a lower rate (assuming that is the only factor you’re considering) is a good basis.

0 Votes

Columbia, South Carolina

Quote from @Ryan Dunn:

I know the market had priced in a .25% drop into loans for the last few weeks maybe a month. So when do we start to see the extra .25% hit on the loan side?

Why i ask is i am looking for a DSCR loan and hoping to see better loan rates soon.

Thanks

Ryan,

In my experience, timing the market can be a difficult thing. While we hope rates will continue to trend downward, we can only work in the moment and with current rates. If you can afford to wait to see if things will decline further, more power to you, just know that it’s not certainty. Many loan options offered float the rate until closer to closing, so that could be a nice way to hedge against any rate drops during your refinance.

I hope that helps!

1 Vote

Quote from @Luke Davis:

Newbie investor here looking to do my first actual investment purchase. Currently looking into doing a BRRR or a buy and hold in the FL market. My wife and I have our old primary home that we recently moved out of and are renting that has 150K+ in equity that we could tap into via HELOC to fund the down payment for our next purchase and cover the remainder with a DCSR or Conventional loan?

Curious what the more experienced folks here think is the best strategy given the current rate cuts happening. Having two open loans for the property is not ideal as that's double closing costs but maybe that is a fairly normal strategy?

Any advice is greatly appreciated!

As far as DSCR versus conventional, it depends on the holding strategy, your income situation, and the debt service of the property as to what may be best.

i hope that helps!

0 Votes

Quote from @Maciej Lukasik:

Quote from @Andrew Zamboroski:

Quote from @Maciej Lukasik:

Hi Everyone,
I am a Canadian citizen, non-resident foreign national. I have both an EIN and ITIN in place. Do any of you have any lenders that work with Canadians? I have worked with Express Capital in the past, but looking at other options. I have a 4plex that I am looking to Refi, and also seeking financing on a multifamily/commercial property in the near future.

Thanks

Maciej

Good morning! We can likely help and do the loan with you being a foreign national. However, it is at a reduced ltv. Happy to connect to see how best we can help.

Andrew

What's the best way to connect with you?

Feel free to give us a call or fill out our info form!

www.modernmortgagemi.com/commercial

0 Votes

Kansas City, Kansas

Quote from @Lisa Sluss:

Hi all -

I have a house on the market that is not selling. It’s priced below value, but people aren’t fond of the area, low walkability score, near a bus stop, etc.

I’m nearing the end of a hard money loan and I’m wondering if it’s possible to do a cash out refinance on a HARD MONEY loan. Will someone lend me money to pay off another hard money loan?

It may be possible to do a refinance into a bridge loan. This could give you time to sell your property. Happy to connect.

0 Votes

Atlanta, Georgia

Quote from @Romie Graham:

Hello everyone,

I am completing my second BRRRR and looking to do a cash-out refi. Searching to see if any lenders are doing a cash-out with no seasoning period.

Thank You

As long as improvements were made, we should be able to help. Or as others have said, 90-days seasoning would be the standard (start at day 60).

let me know if we can help!

0 Votes

Cleveland, Ohio

Quote from @Salvatore Spano:

I am a foreign investor, living in France. I own 1 SFR in Ohio and would like to increase my investment.

I am looking for a lender that is able to offer a DSCR loan up to 70%LTV, so far the best proposition has been 65%. The property I intend to purchase is below $90k.

I would be grateful for any useful suggestion. Thanks in advance for your input.

We can often do 70% but minimum purchase price would need to be 100k. So close on this one!

0 Votes

Detroit, Michigan

Quote from @Maciej Lukasik:

Thanks

Maciej

Good morning! We can likely help and do the loan with you being a foreign national. However, it is at a reduced ltv. Happy to connect to see how best we can help.

Andrew

0 Votes

Kansas City, Kansas

Quote from @Giman Kim:

Hi,

As interest rate is dropping with impending federal reserve's announcement next week, I feel like this is a good time to tap into equity in my investment property in Cambridge, MA 02141 and maybe purchase another property with cash. Any local lenders to recommend?

Not local to the area, but happy to see if we can help!

0 Votes

Cambridge, Massachusetts

Quote from @Jim Wilson:

Hi Biggerpockets Community, glad that I created an account with biggerpockets. Aside from this any recommendation about groups that should join or actively participate to maximize my reach? I am a CPA and a private money lender, Thank you!

There are some great groups on Facebook that cover Kentucky real estate investment. Plenty of networking and connections to be had if you are interested.

0 Votes

Louisville, Kentucky

All Forum Posts by: Andrew Zamboroski

Andrew Zamboroski has started 0 posts and replied 354 times.

Post: 7.125% interest rate on a conventional investor loan: When should I try to refi

Post: When do you think we will see the .5% rate drop hit loans?

Post: HELOC, DSCR, or Conventional?

Post: Canadian Seeking US Lender - Refi and Purchase

Post: Hard money cash out refinance loan

Post: No seasoning periods for cash out Refi

Post: Foreign investor looking for DSCR loan 70%LTV

Post: Canadian Seeking US Lender - Refi and Purchase

Post: Cash-out refi to buy a new home

Post: Any PML/ Contractor/Investors groups in Kentucky?