All Forum Posts by: Jeff Chisum

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Are you using the 10% down second home occupancy loan?

You can use your commission for down and closing. Sounds like you are going with a Fannie/Freddie type loan based on the cap of 2%. That would have been known up front if that was the original loan product being used. Did you look at DSCR? Potentially lower down needed of 15% with better rate and 6% cap in IPC's

Don’t overlook the 10% down second home occupancy loan for financing a property like this.  Happy to help with any questions.  

I don’t think I’m allowed to post here but I will send as a DM

This is my specialty.  Everything in house.

I did three podcast episodes on this very subject!

Our DSCR product is very STR friendly and heavily lean on AirDNA data vs appraisal. We also have shorter seasoning periods than most for cash out. Worth a discussion if you want to send me a DM I can connect you with my team's DSCR specialist. It's worth mentioning that we have been working with same investor for four years and we are fully delegated with them. We process, underwrite, close and fund the loan. We don't like to deal in "maybe's, let try, etc…".

Are you 50/50 members of the LLC?

I can do that deal.  Feel free to send me a DM