All Forum Posts by: Joseph Chiofalo

Hi Mark, 

You will be able to restructure the loan within the 3 month period.  No seasoning period on a rate / term refinance. 

Hi Gustavo, 

Unless your claiming that rental income on tax returns lenders most likely will not consider that into your ratios. 

What terms do you have on your current loan? 

Is it a single family property or multi-family?

Hi Greg, 

You could entertain keeping the property and pull some equity out of it to use as funds for down payments on future properties to purchase. 

What price range would you target on the next purchase? 

Hi Matt, 

When did you purchase the property? 

How is your credit history?

Do you own any other real estate?

Hi Spencer, 

Would this be for a single family or multi-family purchase? 

There are options that do allow for up to 85% financing on an investment property transaction. 

If you decide to use the property as a second home, 90% financing is available on a full documentation loan. 

Do you have a property in mind?

Hi AJ, 

DSCR loans for investors are getting more and more attractive w/ rates dropping.

More deals are cash flowing now.  

Pricing is just as similar on a DSCR investment loan compared to a second home buyer having to provide full income / asset documentation.

@Maria Rusinque 

Hi Maria, 

Yes, Nationwide Mortgage lends in Puerto Rico.

Do you have a property in mind? 

Hi Min, 

Can you share more details in regards to this purchase transaction? 

Each lender / investor will have their own guidelines in terms of reserve requirements needed on purchase transactions. 

Is your client in contract on a new property? 

HI AJ, 

We've seen an uptick in applications this week as the rates dropped. 

The DSCR products for investors are pricing below 7% on a 30 year fixed with healthy credit and reserves.

Its a great time for investors to tap into the equity they've accumulated over the past few years on a cash out refinance with improved terms. 

Hi Keaton, 

Would you be purchasing a new primary residence or investment property?  

Depending on the occupancy will determine the amount of down payment needed on the purchase. 

Most investor loans will require a minimum down payment of 15-20% of the sales price with having healthy credit and a few months of reserves. 

Do you have a property in mind?