All Forum Posts by: Brayden Hrycko

 Sounds good! Send me a message and we can set something up!

 No worries! That would be your realtor right? I could still pre-approve you for the financing side of the deal. Then the realtor would help you find the property. 

Hey @Patrick Davis,

As you now know from others, FHA is 1-4 units. Going FHA, conventional, VA, Usda are all products that will want to see income/dti.

If you go DSCR (Debt service coverage ratio), they won't look at your income but they'll want to see proof of assets for downpayment/closing costs and a credit report. However, these loans are typically 20-25% down.

Hey @Ben Chung,

I work with several lenders that work with PA's no pre-payment penalty laws. We can for sure get you a DSCR here in PA without a pre-payment penalty.

Hey @Anthony Freeman,

Is this a primary or investment property?

Primary will be hard to refi without proof of income/co-borrower. Investment will be much easier as you can go DSCR and not provide any income documentation.

Hey @Dean Valadez,

You always have the option of going DSCR on 1-8 unit properties if you're looking to start smaller. DSCR does not require any income. It does require a credit report and proof of assets. It may be a good option to start your portfolio with smaller residential properties.

Hey @Kevin Recupero,

I am a broker right over in Allentown. I'd love to connect. Feel free to reach out. 

Hey @Rafael Pinho,

Yes, you can purchase or refinance with DSCR being a non-resident. Most likely you'll be capped at 65-70% on the cash out refi. I'd be happy to help explore your options.

Hey @Jose Vazquez,

What you do with the heloc is your business as long as you qualify for it. 

However, lenders will have different guidelines for helocs if they are on investment properties rather than primaries. Investment rates are higher and you can't pull out as much equity as a primary. 

Hey @Jerome Thompson,

There are a few ways you can pull equity from a home. You can refinance or pull out a heloc/ heloan on the property. You will be capped on how much equity you can pull out by the value of the home and how much equity you have access to. This will clarify if a heloc/heloan or cash out refinance makes more sense. Also, make sure you know what your plan for step 2 is so you know what to pull out and if that even makes sense. 

Step two. You then take the funds you pulled out and use that as a downpayment/closing costs on the new property.