All Forum Posts by: Dylan M. Davis

There are questions.. I sent you a message

Can't find much about them.. little to no presence could be either really good or really bad.. Typically the ladder...

I don't wanna step on toes but 9.5% on a SFR is high.

Sounds like what you need is cash-out refi, not a HELOC. Are these properties currently rented and market? When did you buy them?

Hi there, your banker is wrong! There is a such thing as a DSCR loan. Qualified on property income, not yours.

A good private lender will have better seasoning requirements.. One you should ask about is 0-3 month and 3-6 month ownership, there's an expanded product out there that can cash-out (proceeds capped at purchase + verified rehab costs) between 3 months of acquisition and application date. Between 3 and 6 months of application you can cash-out at new appraised value.. 

Hahah there definitely is such a thing as a "DSCR loan" this type of financing is used to stabilize the property and cash flow. You need a lender that will qualify the deal based on property income and not yours. It's important that you ask your lender when they lock rates, how fast they move and what qualify gross income they'll take.

A bridge loan would get it done. Have you considered private money? Is their credit good? Can they provide the down payment from their own accounts? 

Not sure why you're having such a difficult time, usually a good lender will take a look at this! Is the property rural? When did you buy it? Some more info would be helpful 

Delayed financing could be an option. You can also do a stabilized cash-out most likely base rates may be 8%. 75% LTV would be the max if the property is stabilized and doesn't need any rehab.