All Forum Posts by: Jessica Tsao

@Matt Medina, If you are @ at fixed rate of 2.60% and your PMI @ $80 with a 440K balance. I don't see a benefit in refi right now. You got a great rate and the current rates are not low enough to make it to save $80 PMI. The math isn't there. At least not in your current situation. In some cases it is. Hope that helps.

@Brian Ellwood

What a great informative post. Thank you.

@Ben Callis thank you so so much 

That was very informative and helpful 

@Bridget Huebner

Hey no worries, yes you can do a DSCR loan on single family home. You can set up an LLC for liability reasons. but it is not required.

@Bridget Huebner

There are definitely options with a DSCR loan, but if you qualify for conventional which does require seasoning as both Matt and Cris stated is always most cost effective.

Since not a lot of people know about DSCR loans, these loans are using your property rental income as qualifying to repay the loan. Not your income and will not be on your personal credit if you use your LLC, I have done DSCR loans without seasoning right after you purchase but it depends on LTV though.

Hope it helps! And a shout out from California 

@Angie Blatt Great job.. your hard work paid off.  

@Rene Martinez

Yes DSCR loans are available @ up to 75% typically, if you are looking @50% ltv even easier. It can close 10 days after appraisal. DSCR loans look at the rental income the property generates and not the personal income. So unemployed, self employed is no problem. 4.25% rates are what I have done just last week. It's a bit higher than most conventional loans, but it also doesn't go on your credit report and the loan can go as a LLC for liability protection. I am a big fan of the DSCR loan as I have done one for myself. Hope that helps

@Adekunle Ilori 

Rates are on it's way up.  I would refi because inflation is higher than the current interest rates.  So basically you would be using other peoples money to invest at better than inflation to start.  Hope this helps

@Ash Kumar

I just did something like this with hard money lending. There isn't any conventional lenders that will do a new mortgage with a forbearance that hasn't been repaid yet. They typically want to see at least 3 mos minimum. I have hard money lenders that do this. DSCR loans that can go into your LLC and only use your cash flowing income and doesn't go looking into your DTI. It also doesn't show up on your credit report. Its an option. It's a bit more than your conventional loan rates. But I did one for 4.25% for myself. Which I think was worth it. Hope this helps

@Chan Park

So after the hard money loans on properties you own, your new lender, US Bank, will not allow hard money loan as a down payment?  People refi and buy rentals all the time, that is ridiculous.  I say find a new lender.  Sorry... 

OR, You can get a hard money purchase @80%-90% of the purchase price depending on experience,100% of the rehab budget12-24 months interest only with no prepayment penalty. Refi that hard money with a conventional lender.

hope that helps