All Forum Posts by: Eric Miller

There's no correct answer as lender's/investors change their guidelines/price so much that one month one lender can be the best at DSCR in price and guidelines, then the next month have changed guidelines and worst price.

In the non-qm world I think relationship building is important. It is best feel out your broker/loan officer to see if their knowledgeable, experienced, and can communicate with you when needed most. 

If you know a mortgage broker you can ask them to check in with the lender "UWM". They have no loan amount minimum for DSCR. I know this is an old post but I came across and thought I'd add my 2cents.

Take the 30 year, protect yourself with a lower payment and pay extra if that's no issue to you. 

I just priced it out. Conventional loan with no points or origination fees would be 7.25% (7.272 APR). That is with one of my lenders that I use frequently.

I am personally always of the mind set to keep it simple and do the HELOC by yourself. That way if you all ever need anything you can leverage your wife's credit since it would be free'd up. If you're good with $170,000 then it just doesn't seem worth it to go up to 220k. Hope I can be of assistance!

I am a mortgage broker and have been using them on and off for a while. I think their pricing is good and their portal is amazing but they just feel like a big lender to me. I feel like they require more documents than other lenders. It does help to have a good account manager over there. 

Have you looked into if the numbers work doing a cash out refinance ?  Maybe that will cover the debts and you can keep the house. The negative to doing this is cash flow would go down. 

Hey to answer your first question is the easy answer is to find a rock star Realtor who knows Maryland through and through. Feel free to PM for Realtor recommendations. 

The other piece of advice would be to check out some of counties and cities yourself  and get a feel for the areas driving by them. Good luck out there! 

I have a fantastic insurance broker that I use in NC and he's always terrific with quotes and even better customer service. Feel free to PM and I can pass along his information.