All Forum Posts by: Derek Brickley

Hey Alan!  Depends your exact strategy, but sounds like a fairly straightforward process.  For most investors we help with this there would be no seasoning. Without knowing more I wouldn't be able to give you more than just some random numbers, but feel free to reach out if we might be able to help.

Congrats! STR DSCR loans are fairly common, but chances that it could get closed by 8/1 is tough. Best of luck!

Hey Adam, hard to say.  With the lending world, rates generally don't vary that much bank to bank.  Unless you have a specific property under contract, there really isn't anything other than some rough numbers and estimates.  Just be sure to do your due diligence and once you find a home then work the numbers for that specific home.  Also keep in mind though that if they're offering a rate that much lower than the rest of the market, why hasn't the whole market moved towards that and why wouldn't everyone be using them?

So is this a primary residence or an investment?  If you are purchasing the home with financing, then you would need to wait for the seasoning requirements per each program.

Yep as said above, DSCR is typically the way to still achieve 30 year amortization, fixed rate at 75-85 LTV. Doesn't always need to cover debt-service depending on other factors, but there is a lot of different options for this since it isn't a Fannie/Freddie product. Feel free to reach out with any questions you might have.

Hey Ryan! If you live in a duplex now and want to buy a single-family home then that is generally a good reason for the move. I'm assuming you used FHA on your duplex in 2021 so that 5% down conventional would probably be a good bet. Feel free to reach out though with any questions you might have.

Hey Karen!  

Agree with what has already been said.  My question would be what kind of lending are you looking at with those terms and are they charging points for that? 

Hey Conner!

Yes hard to say whether we would be able to help or not.  Lots of details on that. I went to school in Appleton for college, so a few hours but not too far.

Hey George,

We are a direct lender with broker options as well..  Not sure what option would be best so will just depend.  Feel free to reach out if we might be able to help

The rates would not differ much, but what you would find is that you will probably pay less in points by putting 25% down.  That will be where the real difference would be most likely.  Hard to say for sure without know a bit more details