All Forum Posts by: Jesson George

I was quoted for a secondary house mortgage (vacation house), and it was not a DSCR loan. there was no pre-payment penalties. sorry about that!!

 which lender? I just got 7.125 w 0 points and ~3k in total fees

I’m purchasing a fully renovated, vacant 3-unit multiplex in Hartford, CT, for $450K. The anticipated rent per unit is $1,700-$1,900, annual rent 68,400

I’ve been quoted a 7.125% rate on a 30-year fixed mortgage from a direct lender with no points w/ 5,4,3 prepayment. My goal is to leverage 85%, and with an 800 credit score, I'm in a good position. I'm considering a full-doc loan if it leads to better terms.

 Exploring different loan programs and possibly adjusting the down payment to improve terms. The focus is on maximizing cash flow and securing a solid return on this investment.

Good luck! Im always interested in connecting with a wholesaler in westchester/rockland area. 

Hi, 

My name is Jerin & I am also looking for something similar. Do you want to chat sometime this week?

@Cameron Norfleet can you please share with me also. Im having the same issue in Waterbury CT

 Yes agreed. What are some questions you ask? Best rate I've gotten so far is high 6 and low 7's with 1.5point fee in a 30yr.
I've gotten one lender willing to lend. I'm going with the full doc route as my finances are straight and have no issues disclosing it. I am also able to secure lending with 20% down which was big for me because now I don't need to have a partner involved.  I am just waiting for an appraisal to come back to pull the trigger.

I'm in the market to acquire a 10-unit apartment building with a purchase price of $950,000. I find myself in need of a loan or lender who can provide a 25/30-year amortization with a fixed rate for the entire term or maybe with only a 1relock rate. Have any of you recently collaborated with a lender who offers such terms? what are the current interest rates?

Primarily, I'm leaning towards conventional lending, but I'm also considering the Debt Service Coverage Ratio (DSCR) loan type. Any insights or experiences with either option would be greatly appreciated.

If you've recently secured financing for a similar project or have recommendations for lenders who specialize in apartment building investments, please share your thoughts below. Your expertise could prove invaluable as I navigate this exciting but complex process.