All Forum Posts by: David Ross

Hi, my name is David Ross. I am a Mortgage Branch Manager with over 20 years experience. My team and I specialize in working with investors and would like to offer you a free consultation (link below) to get your property Financed or Refinanced. Conventional, FHA, VA, DSCR, ITIN, One-Time Close Construction, etc. One product that I can highlight today in the current market is a DSCR Loan. DSCR loans are in high demand, but many aren't very flexible.  I am glad to say that my company does have access to one of the more flexible DSCR programs and I will post some highlights below:

DSCR Highlights:

• • Interest-only available
• • Cash-out options
• • Can close as corporation or LLC
• • Unlimited number of financed properties
• • Only LTV, FICO, and DSCR required
• • Loan amounts between $100k - $3.5mm
• • LTVs up to 80%
• • FICO down to 640
• • 1-4 unit residential, 5-8 unit residential, 2-8 unit mixed use, condo and condotel

Beyond that, please review the below reviews which are just a few of the hundreds of 5 Star Reviews we have!

5.0 stars | David Ross and his team went above and beyond to get us in our dream home. David was extremely helpful in walking us through the financing of our home and making the whole process smooth and easy. David was always available, answering all our questions and very thorough every step of the way. We cannot thank him enough for making it all possible.

5.0 stars| David Ross and his team were so great working with some twists and challenges to closing on our new condo. All worked out and went smoothly!  Thanks

5.0 stars| David Ross at Cardinal Financial helped us out at the last minute to take out a VA loan for our house that had been turned down by Navy Federal. David and his team worked out all the details to make sure our home buying process completed on schedule.

5.0 stars| Great experience start to finish. David walked us through every step of the process. Everything was clear and there were no surprises, which lead to our loan funding on time with no hiccups.

Hey Becky,

First, WOW, I love that place!  

Beyond that, I am a Mortgage Branch Manager and my team specializes in working with investors. Ideally, we can connect next week and my team and I can provide a free consultation on what may work best for you and your Mom with a few more details, but if I were to take the situation at face value and try and brainstorm an idea.  Perhaps a Reverse Mortgage could work.  I am not sure how old your mother is, but if she has substantial equity like you are saying, she can pull it out, pay off the original loan, and even eliminate her payment.  Now, it seems like the goal would be to keep that property in the long run, so you would want to Refi that in a few years when rates come down and you again can qualify for a more traditional mortgage, but there could be a path to getting around $100k and taking the next few years to focus on banking cash flow and possibly expanding.

I know, it's a bit out of the box, but if we were just blue sky talking about a solution, it's possible. Another one would be the DSCR option, as others mentioned above, but I think you would have to buy the home from her, and build the income valuation based on her being a renter in the future. Actually, that may be the better bet for getting more cash out now and we offer an Interest-only program on DSCR if you were trying to max out re-investment in the short to mid term.

Overall, there are a lot of nuances and a few questions we would have to confirm to be sure we were setting you up with the best program for you. We welcome the opportunity to connect and provide a free consultation, if that interests you.

If so, please schedule a time with me below and we can connect.

https://bit.ly/Meet--David

Sincerely,

David Ross

Hey Abby,

I am a Mortgage Branch Manager and my team specializes in working with investors. We have a couple of construction products that are really great and we could definitely help you out!  Overall, there are a lot of nuances and a few questions we would have to confirm to be sure we were setting you up with the best program for you.  We welcome the opportunity to connect and provide a free consultation, if that interests you.  

If so, please schedule a time with me below and we can connect.

https://bit.ly/Meet--David

Sincerely,

David Ross

Hey Sean,

I am a Mortgage Branch Manager and my team specializes in working with investors. Cash out refi are not as popular these days, with rates and all, but completely attainable and definitely still offering much lower rates than DSCR loans.  Qualification is just an exercise in experience and determination and that is where my team and I delver!  It just comes down to working the file and getting into the details. If you want a free consultation, please schedule a time with me below and we can connect.

https://bit.ly/Meet--David

Hey Isaac,

I am a Mortgage Branch Manager for Cardinal Financial and we specialize in loans for Investors. Our focus is on problem solving and we have a great product mix so we can be sure to get you set up with the exact product that best supports each deal. I will post some Highlights below about our DSCR program, but the best bet would be for us to connect and we can over your specific needs.

If you want a free consultation, I would welcome the opportunity to connect!

Please schedule a time with me below and we can connect.

https://bit.ly/Meet--David

DSCR Highlights:

• • Interest-only available
• • Cash-out options
• • Can close as corporation or LLC
• • Unlimited number of financed properties
• • Only LTV, FICO, and DSCR required
• • Loan amounts between $100k - $3.5mm
• • LTVs up to 80%
• • FICO down to 640
• • 1-4 unit residential, 5-8 unit residential, 2-8 unit mixed use, condo and condotel

Hi Jose,

My team specializes in funding investors and we can definitely help you with a DSCR. Below I will add some general highlights regarding our DSCR product, but If you want a free consultation, please schedule a time with me below and we can connect.

https://bit.ly/Meet--David

DSCR Highlights:

• • Interest-only available
• • Cash-out options
• • Can close as corporation or LLC
• • Unlimited number of financed properties
• • Only LTV, FICO, and DSCR required
• • Loan amounts between $100k - $3.5mm
• • LTVs up to 80%
• • FICO down to 640
• • 1-4 unit residential, 5-8 unit residential, 2-8 unit mixed use, condo and condotel

Hi Tianyi,

My team specializes in these and can finance up to 8 units and there are even some additional options available to help you cash flow the property. If you want a free consultation, please schedule a time with me below and we can connect.

https://bit.ly/Meet--David

DSCR Highlights:

• • Interest-only available
• • Cash-out options
• • Can close as corporation or LLC
• • Unlimited number of financed properties
• • Only LTV, FICO, and DSCR required
• • Loan amounts between $100k - $3.5mm
• • LTVs up to 80%
• • FICO down to 640
• • 1-4 unit residential, 5-8 unit residential, 2-8 unit mixed use, condo and condotel

Hey Tianyi!

My team specializes in DSCR and can finance up to 8 units. I will post some additional Highlights below. If you want a free consultation, please schedule a time with me below and we can connect.

https://bit.ly/Meet--David

DSCR Highlights:

• • Interest-only available
• • Cash-out options
• • Can close as corporation or LLC
• • Unlimited number of financed properties
• • Only LTV, FICO, and DSCR required
• • Loan amounts between $100k - $3.5mm
• • LTVs up to 80%
• • FICO down to 640
• • 1-4 unit residential, 5-8 unit residential, 2-8 unit mixed use, condo and condotel

Hey Madina,

DSCR is a great option, especially if you want to purchase the property under an LLC. My team specializes in these and can finance up to 8 units, so your 2 or 3 woold be fine. If you get further into your process and would like a free consultation, please schedule a time with me below and we can connect.

https://bit.ly/Meet--David

DSCR Highlights:

• • Interest-only available
• • Cash-out options
• • Can close as corporation or LLC
• • Unlimited number of financed properties
• • Only LTV, FICO, and DSCR required
• • Loan amounts between $100k - $3.5mm
• • LTVs up to 80%
• • FICO down to 640
• • 1-4 unit residential, 5-8 unit residential, 2-8 unit mixed use, condo and condotel

Hi Brandon,

I'm not sure you need seller financing from the sound of it. If you have your VA eligibility and you're looking to buy a new place to live in and then rent out your existing property, that should be no problem. As you already touched on, you won't have a down payment as a Veteran. If you're concerned about closing costs, you can place your offers requesting the seller to cover your costs. Here's a simplified example of how this can work (or at least a good way to wrap your head around it):

Let's say the property you're interested in is listed for $100k and for whatever reason, you think the seller would accept an offer at $90k (maybe it's been on the market for a bit and they've recently reduced the listing price).    You might write up your offer at $100k purchase price, asking the seller to contribute $7k to your buyer closing costs.   In this super simple example, the seller nets $93k ($3k more than you were estimating they might accept which is a win for the seller).   

For you as the buyer, you come to the closing table with $0, instead of $7k because the seller is covering your closing costs and you aren't putting any money down because you're a Veteran.   Win/win.    

Since you're not allowed to finance closing costs on a purchase transaction, this is a way of essentially accomplishing the same thing.   Instead of negotiating for the absolute lowest price, your focus is on getting into the deal with little to no money out of pocket.   

Let me know if you have questions or need help qualifying.  Happy to help.