All Forum Posts by: Issac San Miguel

@Christian Sidaros I know of a few lenders that go as low as 10% down up to 95% of LTC/75% of ARV. What LTC cap are you currently facing?

Typically going to be maxed at 75% and then hedged futher if the property does not cash flow. 

Feel free to reach out if you have any questions.

Hey Jeff,

I am aware of a few private funds that offer a portfolio DSCR loan. You can usually group properties together in the same county. I write a handful of these a month and am happy to share my experience.

DSCR loan - Ohio has some prepayment laws which challenge the rate but its still doable.

@Jason Martinez not all DSCR loans are created equal. All lenders and investors of DSCR loans have different guidelines and boxes that they write to.

For the "smoothest" transaction I would determine the following items:

Realistic value of your property

Market rent of your property

Know your actual cost for RE taxes and Insurance

Determine your current seasoning period and make sure to ask what LTVs 

Have a realistic idea of rates

Know which lenders require certain DSCR ratios and utilize the one that fits your needs the best.

Know that DSCR loans are mostly floating rate until closing.

Hey Diane,

Houston is a great market - I can connect you with one.

You may consider refinancing the property into a private capital loan, eliminating it from my credit report. These are often times called DSCR loans - since it is a business purpose property (rental) you use the rental income of the property to qualify and vest title in a business entity.

@David Rosenfield I'd have to know the full scenario to help with a reccomendation - feel free to DM me.

Hey @David Rosenfield

This rate seems a bit high for 50% LTV - I would maybe shop this around a bit until you're sure you're getting the best deal.

Cash is always king, and it is my opinion that remaining liquid is always the best bet.

I'm aware of a lender that can do FN loans however they need to be able to pull a US FICO score and background check.