All Forum Posts by: Blaine Brown

Also open to any recommendations for DSCR loans/brokers. TIA

Good evening. I am having issues with financing and I am so frustrated. Quick recap. 55 doors in last 9 years and never refinanced.Have deal under contract for $550k and putting 100 k down. Went through two local banks which I have all loans through and both have now told me I have grown to fast and need to let loans season. Tried third bank and got three weeks in before they said I had to much exposure. Debt to income good. 800:credit score, great cash flow.  Had VP of bank call and apologize! I went to fourth bank and tried Dscr loan and they just told me today I can’t get because I have over 20 mortgages. I feel like I would be a banks dream with my credit history and cash flow consistently. I am not sure what I am missing. I don’t know where to turn from here. I hate to lose this deal and presented seller with owner financing to bridge loan until I can figure something out. He is open to it but I still would need to refinance some free and clear properties but don’t even know how to get that done at this point. Any advice much appreciated!