All Forum Posts by: Kristen L Garner

Hi Angel, yes there are loan products available.  They generally treat modular homes like stick built homes. The subject property must meet Fannie mae or Freddie mac program guidelines for investment properties.  If your scenario doesn't check those boxes there are also non-QM products with guidelines tailored to modular homes. 

Welcome! I work with quite a few investors having great success in that area. Best of luck and feel free to DM if you'd like to connect. 

 Hi @Grailen Archie I also invest in Indiana for my personal portfolio! I sent you a DM to gather some more info on your scenario. 

Hey Jose, 75% LT is common but there are also 80% LTV options available...usually at a higher rate of course. If you'd like to DM me the details I'd be happy to take a look.

Hi Eric! Devin provided some great info here. DSCR is also popular among investors because you are able to close in an LLC and you don't hit a max amount of loans like you do with conventional financing. There are many ways to structure DSCR terms to fit your scenario. There are other products in the non-QM space as well: bank statement loans, P&L loans, asset based loans, etc. Best of luck!

The Non-QM product category will allow you to close in your LLC. The most popular products in this category are DSCR, Bank Statement, Asset Based, and P&L. You can use these products to purchase, R/T refi, or cash out refi. The LLC can qualify for commercial financing. However, there are also Non-QM products that allow for upwards of 8 and 10 units - so you have lots of options on the table!

Hi Aaron! Yes there are hard money short term, interest only loans in which your credit/income are not a qualifying factor.  They are typically 6,12,18, or 24 month terms. Is your property in FL? 

Hi! Your mortgage from your departing primary would still count towards your DTI however 75% of either a lease agreement or a 1007 page on an appraisal can be used towards your income. In the future, after that house has been rented long enough to be on taxes, lenders will use what is reported in your taxes. Feel free to DM me if you want to bounce some numbers around.

Hi Sean! I invest in Indiana (my hometown).  Indianapolis is a large area with many different pockets to select from. Carmel will most likely have a higher price point.  Let me know if you want to chat about Indy investing - happy to bounce ideas and strategies around. 

Hi Zach, welcome! I invest in your neighboring state, Indiana. Happy to connect if you want to bounce ideas around.