All Forum Posts by: Ladeg Mulb

Thank you all for your input!

What I meant with bypassing a down payment, was that the reason I would buy w seller financing and only afterwards switch to a bank loan, is to bypass the down payment. I was wondering if a DSCR refi is possible which I now understand from your answers that it is.

@Katherine Blazer I believe the property is worth more then the sale price, and I will have 80% LTV. I'm planning on having it appraised before the sale to confirm that.

@Jonathan Taylor  tell me if I got this right: delayed financing means that I would get approved for the loan before the purchase happens , contingent on me purchasing the property and owning enough equity in it?

@Katherine Blazer @Jonathan Taylor and @Stephanie P.: what’s the (general) difference between rate/term, and cash out?

Thanks a bunch for all your help, looking forward to hearing more from you!

Hello biggerpockets

I'm looking at buying a home through seller financing, and the seller doesn't want to hold the note for too long. My question is as follows: can I do a DSCR refi in a couple years and take out a loan that amounts to 80% of the home's appraisal?

I know that a DSCR loan to purchase a home has a 20% down payment required. So I'm wondering if the same applies to refinancing, or is this a way to bypass a down payment.

Also, does anyone have any other ideas on how to get creative with a down payment?

I’d appreciate any insight, thanks in advance!

thanks Jonathan!

I sent you a message 

Hey everyone,

I’m a new investor and new to the forums, looking to invest in small multi family.

My problem is that I recently purchased a home together with two other co-signers, so to get approved for a conventional loan I will have to go through all three of our debt to income ratios which isn’t quite feasible.

I'm looking into debt service loans (or DSCR) that don't look into your personal finances but rather focus solely on the property's income. I came across equinox financing which looks good, and loan guys which has negative reviews. Anyone with experience in such loans that can offer information, Or other financing advise for my situation would be much appreciated.

Thanks!!

hey Darcy , let me throw in my (inexperienced) two cents:

I recently bought my first rental property which is quite similar to type one that you mentioned. Extremely hot market, where rents just about cover expenses. The problem is, that although I believe the house will appreciate a lot, it  tied down my capital, and made it very hard for me to grow my portfolio without cash flow. I think the right thing would be to go with the one that cash flows. That being said, make sure you’re covered during the time of rehab which always takes longer than expected.

best of luck!!