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All Forum Posts by: Davon Broadwater

Davon Broadwater has started 1 posts and replied 2 times.

Quote from @Robin Simon:
Quote from @Davon Broadwater:

Hello,

I am thinking about using a DSCR loan for my first rental property, and I know a Conventional loan cannot be used on distressed properties. I have an investor- friendly agent that have homes (not distressed) that isn't on the MLS. Can I use a DSCR loan for these homes?


Generally is going to be OK the only issue is that it can be challenging to confirm the transaction is truly arms-length on an off-market deal and I believe all DSCR Lenders do require Arms-Length transactions. If everything is above board and can be pretty well documented its likely workable for at least us (but I'd imagine same with a good amount of DSCR Lenders)

Can you explain more on Arms-length transactions?

Hello,

I am thinking about using a DSCR loan for my first rental property, and I know a Conventional loan cannot be used on distressed properties. I have an investor- friendly agent that have homes (not distressed) that isn't on the MLS. Can I use a DSCR loan for these homes?